London pre-open: Stocks to extend drop as Greek crisis deepens
30th Jun 2015 07:40
UK stocks are set to drop further on Tuesday morning after finishing at a five-month low the previous session with Greece set to default on a debt repayment to the IMF. After failing to secure a funding deal with creditors, Athens has effectively ran out of time to come up with the cash to repay the
Read moreOcado earnings climb 11% as new customers and product units surge
30th Jun 2015 07:14
A 30% rise in new customers and 19% increase in active customers in the first half of the year helped online supermarket Ocado drive robust growth in revenue and operating profits despite the fierce grocery industry competition. Much heralded talks with multiple overseas retailers about using the co
Read moreLondon close: FTSE sinks to five-month low as final act of Greek drama unfolds
29th Jun 2015 16:54
Heavy falls in the travel, tourism and financial sectors prompted a 2% plunge on the FTSE 100 on Monday as investor sentiment was hammered by concerns about the future of Greece and the wider Eurozone. The FTSE 100 finished 133.22 points lower (-1.97%) at 6,620.48 by the end of the session, its lowe
Read moreFTSE 250 movers: Thomas Cook hit by travel market uncertainty, Ocado higher on deal speculation
29th Jun 2015 13:21
Mid-caps plunged on Monday, with gains made by miners overshadowed by weakness in the travel and financial sectors, as Greece closed its banks and called for a public vote on bailout proposals by its creditors. As of 15:00, the FTSE 250 was trading 1.2% lower at 17,607. Travel tour operator Thomas
Read moreFTSE 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
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