Sainsbury's wins 18 March Home Retail bid extension
23rd Feb 2016 09:11
(ShareCast News) - Sainsbury's has been given until 18 March to improve or call off its bid for Argos owner Home Retail Group, after Frankfurt-listed giant Steinhoff International gatecrashed the party. The grocer sought an extension from the Takeover Panel for its "put up or shut up" deadline to be
Read moreTuesday newspaper round-up: Facebook, Cameron, Oil, Sainsbury's
23rd Feb 2016 07:21
(ShareCast News) - Mark Zuckerberg has launched a passionate defence of Free Basics, Facebook's limited free mobile internet service that was banned in India this month, as he promised to continue to push the programme in other developing countries. Talking publicly about the setback for the first t
Read moreHome Retail surges ahead of possible bidding war
22nd Feb 2016 08:20
(ShareCast News) - Shares in Home Retail surged on Monday following media reports over the weekend that Sainsbury's could seek an extension to the Takeover Panel's 18 March deadline, after South African retailer Steinhoff made an offer to the Argos owner. Late on Friday, Home Retail confirmed it had
Read moreSunday newspaper round-up: GSK, Sainsbury's, BT, Imagination Technologies
21st Feb 2016 17:23
(ShareCast News) - Financial institutions in the City of London are fairly pleased with David Cameron's agreement with the European Union ahead of June's referendum as it looks to have secured the Square Mile from excessive further Brussels red tape. A potentially painful sticking point has been avo
Read moreExane upgrades Sainsbury's to 'outperform'
17th Feb 2016 08:57
(ShareCast News) - Exane BNP Paribas upgraded Sainsbury's to 'outperform' from 'neutral' and lifted the price target to 280p from 250p. Following a sell-side group meeting with the company's chief financial officer and detailed work on the Sainsbury's and Argos store estates, Exane has revised its c
Read moreTuesday broker round-up
16th Feb 2016 17:53
(ShareCast News) - Mattioli Woods: Canaccord upgrades to buy,640p target and N+1 Singer upgrades to buy with a target of 630p. Connect Group: Shore Capital upgrades to buy. Servelec: invetec reiterates buy with a target of 400p and N+1 Singer keeps at buy, 360p target. Acacia Mining: JP Morgan sta
Read moreMorrisons' price campaign faces new Aldi threat
12th Feb 2016 15:55
(ShareCast News) - Discounter Aldi has reacted to Morrisons' recent ramping up of price competition with a wave of price reductions and a new advertising campaign. After Morrisons' launched its new 'price crunch' campaign at the start of the month, Aldi said it has cut swathes of prices "in order to
Read moreFriday newspaper round-up: SuperGroup, Google, Sainsbury's, Barclays
12th Feb 2016 07:13
(ShareCast News) - Jamie Dimon has tried to put out a fire in financials stocks, spending more than $26m to buy half a million shares in JPMorgan Chase, the bank he has run for a decade. The purchase - confirmed in a filing on Thursday evening - is the first big open-market purchase Mr Dimon has mad
Read moreSainsbury's phasing out multi-buy promotions to cut regular prices
11th Feb 2016 12:35
(ShareCast News) - Sainsbury's has confirmed it is deliberately phasing out multi-buy promotions in favour of cutting regular prices as the supermarket group adapts to changing consumer spending patterns. The FTSE 100 grocer said it had removed more than 50% of multi-buy promotions from its shelves
Read moreWednesday broker round-up
10th Feb 2016 16:22
(ShareCast News) - Virgin Money: Nomura starts coverage at buy with a target of 445p. Domino's Pizza: Credit Suisse upgrades to outperform with a target price of 1100p. BBA Aviation: Goldman Sachs downgrades to neutral with 181p target. Greencore: Societe Generale reiterates hold with a 386p targe
Read moreGrocery sales return to slow growth after disappointing Christmas
9th Feb 2016 08:08
(ShareCast News) - After a disappointing Christmas sales period, the British grocery market has returned to slow growth according to Kantar Worldpanel. Figures for the 12 weeks to 31 January 2016 show take-home sales increased 0.2% compared to the previous year, driven by New Year resolutions to eat
Read moreSunday newspaper round-up: HSBC, Glencore, easyJet
7th Feb 2016 20:18
(ShareCast News) - HSBC's board is expected to come to a decision on the location of its headquarters in the coming days after an unexpectedly long-running review of the future of the British-based bank. Bosses launched the review last year and initially expected to reach a conclusion by the end of
Read moreSocGen cuts Sainsbury's, says Home deal increases risk profile
3rd Feb 2016 11:08
(ShareCast News) - Societe Generale downgraded Sainsbury's to 'hold' from 'buy' and slashed the price target to 260p from 310p following the announcement of its offer for Home Retail Group. The bank said the timing of the deal was inappropriate, with UK food retailing still facing challenging market
Read moreHome Retail shareholder Old Mutual supports Sainsbury's offer
3rd Feb 2016 10:21
(ShareCast News) - Old Mutual Global Investors, which has a 3.6% stake in Home Retail Group, has come out in support of Sainsbury's bid for the FTSE 250 retailer. It said on Wednesday that it regards the offer as "fair", taking into account the acceleration of the Argos transformation plan within Sa
Read moreFTSE 100 movers: BP leads market fallers on losses
2nd Feb 2016 14:13
(ShareCast News) - The FTSE 100 was back below 6,000 on Tuesday, dropping 151.22 points (2.5%) to 5,908.88 by mid-afternoon. BP took the biggest hit after $2.6bn of write-downs and restructuring charges sent it crashing into losses for the fourth quarter and full year. A $3.31bn loss was reported f
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