FTSE 250 movers: Berkeley soars on higher full-year profit, Amlin downgraded
17th Jun 2015 13:35
Mid-caps remained shaky on Wednesday, as investors looked to the Federal Reserve's upcoming policy decision and negative news from Greece continued to weigh on sentiment. As of 14:30 BST, the FTSE 250 was trading 0.23% lower at 17,696. Property developer Berkeley Group topped the risers after posti
Read moreBroker tips: Betfair, Tesco, Sainsbury, Morrison, BAT, Imperial Tobacco
17th Jun 2015 10:23
Numis raised its rating on Betfair to 'reduce' from 'sell' and reiterated its 2,100p price target, in light of the modest recent retreat in the share price. Commenting on the company's full-year results, it noted that revenue was just a touch ahead of its expectations, with earnings before interest,
Read moreUK food retailers initiated by Credit Suisse
17th Jun 2015 07:33
Credit Suisse initiated coverage of UK food retailers with a negative stance on the sector, saying it sees few opportunities within a group that has historically misallocated capital, is faced with extreme competitive pressures and operates in a low-growth environment. The bank started Tesco and Sai
Read moreUBS optimistic on UK supermarkets, 'buys' Tesco, Sainsbury and 'sells' Morrisons
30th Apr 2015 13:40
Rather than fighting on price, UBS declared in its 'initiation of coverage' on the European food retail sector after its Evidence Lab undertook a large consumer survey in the UK, "the future is about differentiation". Overall, the earnings outlook for the European food retailers is "better than it w
Read moreSector movers: Supermarket stocks side-swiped as Tesco reports £6.4bn loss
22nd Apr 2015 14:36
The swift realisation that a £6.4bn annual loss was not something to be taken lightly saw Tesco's share price drop into the red by Wednesday afternoon, sending the UK food and drug retail sector to the bottom of the pile. The worst loss in the Tesco's 97-year history was initially warmly welcomed by
Read moreUK supermarket sector to face major grocery pricing probe by CMA
21st Apr 2015 10:05
An investigation has been launched into the supermarket sector by the UK competition regulator after a "super-complaint" from consumer organisation Which? due to the industry's "misleading and opaque pricing practices". The Competition and Markets Authority will begin a probe of the grocery sector's
Read moreFTSE 250 movers: Oil stocks higher as Saudi Arabia boosts prices
7th Apr 2015 16:53
Oil stocks were in demand on Tuesday as traders played catch-up with gains in crude futures over the last few days. During the weekend Saudi Arabia increased its official price for Asian oil buyers, which markets interpreted as a sign of improving demand. The battered shares prices of energy and exp
Read moreOcado gains market share but leaves analysts cold
10th Mar 2015 08:08
A trading statement from Ocado showed revenues and average orders strongly ahead on the previous year's figures, implying the online grocer gained market share in both the online and overall grocery channels. In the 12 weeks to 22 February, gross sales including commissions and fees from its partner
Read moreFormer Morrison's tax chief sentenced to prison for insider trading
3rd Mar 2015 17:45
Former group treasurer and head of tax and WM Morrison, Paul Coyle, has been sentenced to one year in prison for insider trading. Coyle had pleaded guilty to two counts of using confidential information to trade in shares of Morrison's proposed joint venture partner Ocado between January and March 2
Read moreLondon close: Footsie at five-month high as Greek concerns ease, oil stocks surge
3rd Feb 2015 17:12
Strong gains in the oil sector pushed UK stocks to their highest in five months on Tuesday, helped by an easing of concerns about Greece. The FTSE 100 finished 1.3% higher at 6,872, its best close since 4 September when it settled at 6,878. The new government in Greece has proposed swapping its out
Read moreShore Capital says 'sell' Ocado despite financial turnaround
3rd Feb 2015 10:27
Ocado has delivered its first-ever annual profit and analysts at Shore Capital have welcomed the milestone but still kept a 'sell' recommendation on the online grocer. The company delivered a pre-tax profit of £7.2m for the year ended 30 November 2014, compared with a loss of £12.5m previously, mark
Read moreOcado swings to profit for first time amid growth in online grocery market
3rd Feb 2015 09:28
Grocery specialist Ocado made its first ever pre-tax profit for the full-year, driven by growth in the online market. Despite "intense competition", the group's revenues rose 19.8% during the year to £948.9m while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 56.
Read moreTuesday preview: ARM Holdings, Ocado report
2nd Feb 2015 16:35
Chipmaker ARM Holdings on Tuesday is expected to report an increase in fourth quarter earnings and revenues, supported by sales in the smartphone market. Numis predicts earnings before interest and tax (EBIT) of £111m, compared to £92m the previous year. Revenue is forecast to increase to $346m from
Read moreSunday newspaper round-up: Lloyds, BT, Standard Chartered
1st Feb 2015 13:33
Lloyds Banking Group is preparing to pay a dividend for the first time since it was bailed out by taxpayers, the Sunday Telegraph reported. The board will sign off the group's annual results and then ask the Bank of England permission to pay a dividend before announcing results on February 27th. Llo
Read moreOcado unveils plans to open fourth distribution centre
29th Jan 2015 09:07
Online supermarket Ocado has agreed a deal to set up a fourth major distribution centre, as it aims to satisfy increasing demand for online grocery shopping. On Thursday, the group said that it had clinched a deal to develop a new "customer fulfilment centre" in Erith, south east London. The projec
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