Broker tips: BAE, Cadbury, Sainsbury
5th Jan 2010 13:21
Deutsche Bank believes that doom and gloom about defence spending cutbacks has been overdone, and the valuation for BAE Systems 'remains too compelling to ignore'. Cobham, however, has almost reached Deutsche's target price and consequently the stock has been downgraded from 'buy' to 'hold'. The
Read moreBroker snap: Merrill Lynch cuts Sainsbury
5th Jan 2010 13:08
Merrill Lynch is at a loss to see where the upside is for supermarket chain Sainsbury at its current pricing level, and has cut the stock to 'underperform' from 'neutral'. With the shares trading at 13.3 times projected fiscal 2010/11 earnings as against Tesco's projected earnings multiple of 13.7
Read moreLondon midday: Banks buoy Footsie
5th Jan 2010 12:18
Strength in financial stocks is helping Footsie offset declines in the retail sector. RBS adds to yesterday's stellar gains and is joined higher by fellow banks Barclays and Lloyds. Also among today's big gainers is the hedge fund manager Man Group, which has benefited from some upbeat coverage fr
Read moreLondon open: Retailers lead Footsie lower
5th Jan 2010 08:15
London's top stocks have opened lower as retailers fall back at the beginning of the Christmas sales reporting season. High street retailer Next is lower even though it increased full-year profit forecasts again in response to better than expected sales in the run up to Christmas. Sales for the 2
Read moreRetailers adopt different tactics over VAT rise
31st Dec 2009 10:36
Shoppers hit the high street today for last-minute bargains ahead the VAT rise tomorrow but face confusion in the new year as retailers adopt different tactics to the tax rise. A number of high street chains said they will delay raising the VAT for the time being, while others are freezing the rise
Read moreWednesday newspaper round-up: Banks, Goldman Sachs, Paddy Power
30th Dec 2009 08:37
Britain's banking system is to be investigated by a cross-party group of senior MPs which plans to draw up proposals to put the wider interests of society at the heart of a reformed banking sector. The Future of Banking Commission is to include John McFall, Labour chairman of the Commons Treasury S
Read moreLondon open: Decent start for Footsie
16th Dec 2009 08:40
London's blue chips have opened higher with financials and support services groups leading the way. It has been a busy morning for company statements ahead of the holiday wind-down. Overall demand at GKN has been better than predicted at its last update in October and the automotive and aerospace e
Read moreLondon close: Flat finish for FTSE 100
18th Nov 2009 16:33
There was no shortage of market moving news today, but with stocks moving in both directions, Footsie finished little changed. It was day for high profile board room appointments, with the share prices of Marks & Spencer and ITV both responding well to an end to uncertainty over leadership issues.
Read moreLondon afternoon: Hershey & Ferrero size up Cadbury
18th Nov 2009 14:05
It has been a day for high profile board room appointments, with the share prices of Marks & Spencer and ITV both responding well to an end to uncertainty over leadership issues. Retailer Marks & Spencer (M&S) has poached Marc Bolland, chief executive of supermarket chain Morrisons, to be its new b
Read moreSector movers: Mark Bolland move shakes up retail stocks
18th Nov 2009 13:15
It's a tale of two retail sectors after Marks & Spencer announced the appointment of supermarket Morrisons' boss Mark Bolland as its new chief executive. He will take up the position in the new year. Bolland joined Morrisons in September 2006, helping the Bradford-based supermarket recover from i
Read moreLondon midday: Market cheers M&S appointment
18th Nov 2009 12:02
Retailer Marks & Spencer (M&S) moved to the top of the news agenda this morning after it announced it has poached Marc Bolland, chief executive of supermarket chain Morrisons, to be its new boss. While Marks & Spencer's shares responded positively to the appointment, shares in Morrisons fell back o
Read moreSly Bailey on board at Ladbrokes
18th Nov 2009 07:41
Ladbrokes has appointed Trinity Mirror chief executive Sly Bailey as one of two new non-executives. Bailey, 47, joins Darren Shapland, 42, chief financial officer of J Sainsbury on the board of the bookie with immediate effect. Chairman Peter Erskine said: "Sly Bailey and Darren Shapland are
Read moreLondon close: Good as gold
16th Nov 2009 16:56
Footsie came close to breaching the 5400 barrier, helped by a positive start on Wall Street, but profit taking set in at the end of the session and gains were pared. Much of the blue-chip index's advance was down to mining stocks, which were in demand as metal prices continue to head north. Lonmi
Read moreLondon afternoon: Sainsbury slides on sales leak
16th Nov 2009 14:31
After getting off to a flying start, the FTSE 100 index has drifted sideways since the middle of the morning. A larger part of the blue-chip index's gain is down to mining stocks, which are in demand as metal prices continue to head north. Lonmin leads the sector higher despite reporting a full-y
Read moreSainsbury's loses business to rivals
16th Nov 2009 13:21
Supermarket J Sainsbury has lost ground to rivals for the first time since the recession began, according to confidential 'customer switching' data seen by the Times. Market researcher TNS Worldpanel found that over £11m of spending went elsewhere during the 12 weeks to November. The company, whic
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