'Big Four' supermarkets' margins unlikely to recover before 2017, says Moody's
11th Jun 2015 07:11
The grocery retail market share of the 'Big Four' supermarkets - Tesco, Sainsbury, Morrisons and Asda - continues to fall and there is no immediate prospect of recovery in their profit margins, according to Moody's. In a note to clients on Thursday, the ratings agency forecast the Big Four's share o
Read moreSector movers: Supermarkets and food retailers nudge London market higher
10th Jun 2015 15:57
Healthy trading in supermarket and food related stocks led the London market back into the green on Wednesday. The blue chip FTSE 100 closed up by 1.13% or 76.47 points at 6,830.27 points having been greeted by positive news from supermarkets. Market leader Tesco (up 4.63%) saw its shares surge on r
Read moreFTSE 100 movers: Supermarkets and miners surge, Weir Group lower on profit warning
10th Jun 2015 13:25
Tesco surged on reports it has invited at least six firms including KKR and Carlyle Group to bid for its South Korean unit Homeplus, which is valued at about $6bn. According to people familiar with the matter cited by Reuters, London-based CVC Capital Partners, Hong Kong-based Affinity Equity Partne
Read moreCantor maintains 'hold' rating for Sainsbury post-Q1 result
10th Jun 2015 12:30
Cantor Fitsgerald has maintained a 'hold' recommendation for Sainsbury and kept its price target for the supermarket at 275p. Sainsbury reported its first quarter results on Wednesday, which beat market consensus. Total sales were down 0.6% with like-for-like sales declining 2.1%, slightly ahead of
Read moreLondon midday: Stocks edge higher ahead of Osborne's speech
10th Jun 2015 11:45
UK stocks reversed earlier losses and edged forward on Wednesday, as traders waited on the Chancellor's Mansion House speech. Industrial output in the UK sped past forecasts in April, thanks to a strong contribution from mining. Production grew by 0.4% month-on-month, as an 8.7% surge in oil and ga
Read moreLondon pre-open: Footsie to start lower as transport sector weighs on Wall Street
10th Jun 2015 07:49
The FTSE 100 is expected to start the session between 5 to 12 points lower from Tuesday's close of 6,753.80 points. That follows a flat close on Wall Street overnight. The Dow Jones Industrials finished in negative territory for the year as the Dow Jones Transports closed at year-to-date lows, weigh
Read moreSainsbury shares rise; first-quarter sales not as bad as expected
10th Jun 2015 07:05
Shares in UK supermarket retailer Sainsbury rose 1.7% after its first-quarter sales came in a little better than expected. The company reported its sixth straight quarter of falling underlying sales on the back of food price deflation and increased competition. However, the 2.1% fall in like-for-lik
Read moreWednesday preview: Mansion House speech, Sainsbury's interims
9th Jun 2015 16:21
Chancellor George Osborne is expected on Wednesday to use the annual Mansion House speech to outline plans for a review of the bank levy to prevent major lenders from moving their headquarters abroad. A review of the bank levy, a tax paid by the biggest lenders based and operating in the UK, is like
Read moreTuesday newspaper round-up: HSBC, Supermarkets, Pets at Home
9th Jun 2015 07:01
HSBC is to cut up to 25,000 jobs around the world - including as many as 8,000 in the UK - as its chief executive, Stuart Gulliver, embarks on a fresh strategy to reduce costs and bolster returns to shareholders. Gulliver has already cut the total head count to 257,000 from 296,000 but on Tuesday si
Read moreMorrisons unveils price cuts on 200 'everyday items'
8th Jun 2015 10:12
Supermarket chain Morrisons has unveiled plans to cut prices of 200 "everyday items", including bread and milk, by up to a third. The group, UK's fourth largest supermarket, said the price of four pints of semi-skimmed milk will drop 11% to 89p, while selected bread brands will be 21% cheaper. Alon
Read moreFTSE 100 movers: supermarkets, tobacco and mining stocks rebound
3rd Jun 2015 13:24
UK stocks were trading higher on Wednesday afternoon, led by gains in the construction, food retail and engineering sectors. As of 14:30 BST, the FTSE 100 was trading 0.46% points higher at 6,960. Morrisons and Sainsbury extended gains, following Tuesday's positive sentiment from Kantar Worldpanel,
Read moreFTSE 100 movers: British American Tobacco fizzles, metals miners strong
2nd Jun 2015 14:00
London stocks dipped on Tuesday afternoon, as investors kept a close eye on developments in Greece and tobacco, property and utility stocks dragged. As of 15:00 BST, the FTSE 100 was trading 0.33% lower at 6,930.47 British American Tobacco topped the fallers after a class-action lawsuit in Canadafo
Read moreTesco sales fall as Morrisons returns to growth and discounters Lidl and Aldi expand
2nd Jun 2015 10:47
Tesco continued to lose market share and saw its sales slump 1.3% in recent weeks, according to fresh supermarket data from Kantar Worldpanel, as Morrisons returned to growth and discounters Aldi and Lidl continued to surge. Grocery market figures for the 12 weeks ending 24 May showed Morrisons was
Read moreSector Movers: Miners, foods retailers send London market lower
29th May 2015 15:47
London market slipped back into the red on Friday trading, with miners and food retailers bearing the brunt of the selloff. The FTSE 100 came in at 6984.43 down 0.80% or 56.49 points, as traders indulged in an end of the week profit taking spree as Thursday's gainers in the shape of bankable tobacco
Read moreWednesday broker round-up
27th May 2015 07:57
Beazley: JP Morgan upgrades to overweight from neutral and sets 308p target, up from 255p. Hiscox: JP Morgan upgrades to overweight from neutral and ups target to 950p from 801p. Lancashire Holdings: JP Morgan improves target price to 642p from 589p, stays at neutral. Dixons Carphone: Exane keeps
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