Broker snap: Buy Sainsbury on the dips
17th Jun 2009 13:03
Sainsbury's fund raising plans knocked the share price for six on Wednesday morning but broker Charles Stanley believes the supermarket chain's plan to accelerate expansion plans is a sensible strategic move. 'Management believes now is a particularly good time to be accelerating space growth, give
Read moreSainsbury's prices placing at 310p
17th Jun 2009 12:52
J Sainsbury has raised £242m from a placing of 78.1m shares at 310p each just hours after announcing plans to speed up growth. Britain's third-largest supermarket had wanted £445m from a placing and offering of convertible bonds to take advantage of the weak property market. It expected to get £
Read moreFTSE 100 movers: Sainsbury's unsettled by placing
17th Jun 2009 12:52
Two broker upgrades in the last four days continue to keep BT bubbling higher. Merrill Lynch and Morgan Stanley both raised their ratings on the back of hopes that global services may be over the worst. J Sainsbury is the main news mover today. It is raising £242m through a placing at 310p and a
Read moreLondon midday: Miners drag Footsie
17th Jun 2009 11:01
London's top stocks are deep in the red with miners lower and supermarket firm Sainsbury's also down. Vedanta Resources, Kazakhmys, Antofagasta, Xstrata, Eurasian Natural Resource are amongst the major fallers. Sainsbury's is the only non mining stock to perforate the top ten sliders. The superma
Read moreLondon open: Sainsbury's adds to dull start
17th Jun 2009 08:33
Another day of losses across the Atlantic has weighed on UK blue chips with sentiment not helped by J Sainsbury's near £450m cash call. The supermarket chain is raising £445m via a placing and offering of convertible bonds to speed up growth and take advantage of the weak property market. In a sepa
Read moreLondon pre-open: Heading lower
17th Jun 2009 07:43
Another day of losses across the Atlantic is set to weigh on UK blue chips, with futures prices indicating an early 20-point deficit for London's leading index. Supermarket chain J Sainsbury is raising £445m via a placing and offering of convertible bonds to speed up growth and take advantage of th
Read moreSainsbury's wants £445m to quicken growth
17th Jun 2009 07:06
J Sainsbury fell back Wednesday on news it is raising £445m via a placing and offering of convertible bonds to speed up growth and take advantage of the weak property market. Britain's third-largest supermarket will pull in £255m from a placing being run by Morgan Stanley and UBS. The bookbuild p
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreBroker tips: Tesco, BT, Serco
16th Jun 2009 12:58
Broker Charles Stanley expects the market to leave its profit forecasts for Tesco broadly unchanged after the supermarket chain delivered an in-line trading update on Tuesday morning. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter fr
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreThursday newspaper round-up: RBS, Lloyds, Setanta
11th Jun 2009 06:05
The taxpayer could recover part of Britain's £70bn investment in the state-backed banks even before their share prices recover under plans being examined by UK Financial Investments, the Government body managing the stakes. John Crompton, the former Merrill Lynch banker in charge of the taxpayer's
Read moreLondon close: Rio bombshell pulls back Footsie
4th Jun 2009 17:03
Rio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreLondon afternoon: Rio dives on Chinalco rumours
4th Jun 2009 14:27
Disappointment with the Bank of England's decision not to expand its quantitative easing programme prompted a downturn in the market, wiping out the morning's gains. London's blue-chip index is also struggling with the burden of a weak mining sector, which has moved further into the red after rumou
Read moreLondon midday: Financials lead rally
4th Jun 2009 12:03
The Bank of England's interest rate decision was every bit the non-event economists had been predicting, with the key lending rate left unchanged at 0.25% while no further changes to the quantitative easing programme have been made. Equities remain slightly firmer, with financials recovering some o
Read more