London open: Resource stocks drag FTSE lower, but Eurozone data impresses
14th Nov 2014 08:28
UK stocks pulled back from their highest levels in a month and a half on Friday, though the downside was being limited by some rare positive economic data from the Eurozone. Figures released on Friday morning showed that both Germany and France returned to growth in the third quarter, reassuring the
Read moreSainsbury launches £400m convertible bond
14th Nov 2014 08:04
UK 'Big Four' grocery chain J Sainsbury on Friday launched an offering of £400m convertible bonds due in 2019. The company said that the proceeds would be used partly to refinance its £190m convertible bonds redeemed in July 2014 and to part-fund the £248m deal to take full ownership of Sainsbury's
Read moreFriday newspaper round-up: Asda, British American Tobacco, BT...
13th Nov 2014 17:29
Asda has accused its rivals of being "desperate" and misleading customers with price gimmicks, the Daily Telegraph reported on Friday. Barry Williams, one of the supermarket chain's most senior executives, said Asda's traditional rivals were feeling "chirpy, chirpy not cheap, cheap", as they vowed t
Read moreThursday broker round-up.-Update
13th Nov 2014 10:21
AstraZeneca: JP Morgan raises target price from 3700p to 4100p, keeping its underweight rating. AVEVA Group: Barclays upgrades to overweight. Bellway: Credit Suisse raises target price from 1876p to 1905p and keeps a neutral rating. Bow Leven: Barclays shifts target price from 45p to 50p and retai
Read moreLondon close: UK stocks snap winning streak on banking fine, BoE outlook
12th Nov 2014 16:20
News of a big fine in the banking sector and gloomy comments from the Bank of England (BoE) weighed on UK equities on Wednesday, with London's stock market finishing lower for the first time in six sessions. A weak start on Wall Street was also pressuring stocks as the benchmark S&P 500 and Dow Jone
Read moreFTSE 100 movers: Tullow climbs on cost review
12th Nov 2014 15:20
Tullow Oil rose after saying it was reviewing its costs in light of low international oil prices. The group said its financial performance in the year-to-date, before exploration write-offs and impairment charges, was in line with expectations. G4S said its trading in the third quarter was in line w
Read moreBroker tips: J Sainsbury, Barclays, Tullow Oil, Playtech
12th Nov 2014 12:40
First-half results from grocer J Sainsbury were ahead of market forecasts, but analysts at Shore Capital decided to stay on the fence on the back of continued uncertainties facing companies in the sector. "Whilst we applaud Sainsbury's greater capital discipline, the focus on debt reduction and stre
Read moreLondon midday: Stocks retreat from six-week high on earnings, BoE outlook
12th Nov 2014 12:05
UK equities pulled back from a six-week high on Wednesday as a string of disappointing corporate earnings and a gloomier outlook by the Bank of England dampened sentiment. News of a massive fine in the banking sector also caused blue-chip lenders to fall sharply on London's stock market. The FTSE 1
Read moreSainsbury beats forecasts, but Shore Capital still recommends a 'hold'
12th Nov 2014 11:03
First-half results from grocer J Sainsbury were ahead of market forecasts, but analysts at Shore Capital decided to stay on the fence on the back of continued uncertainties facing companies in the sector. Underlying pre-tax profit totalled £375m in the 28 weeks to 27 September, down 6.3% year-on-yea
Read moreLondon open: FTSE snaps five-day winning streak ahead of Inflation Report, banks fall
12th Nov 2014 08:33
UK stocks declined on Wednesday, snapping a five-day winning streak that sent the FTSE 100 to a six-week high, as investors digested a wave of corporate earnings and awaited the Bank of England's (BoE) Inflation Report. News of a massive fine across the UK banking sector was also dragging high stree
Read moreSainsbury reports interim losses and warns of dividend cut
12th Nov 2014 07:09
Due to increased investment in lowering shop prices, Sainsbury warned that its full year profits and dividend would be lower than last year's. The grocer reported a 2.1% fall in like-for-like sales excluding fuel for the 28 weeks to 27 September, with underlying pre-tax profits down 6.3% to £375m, a
Read moreWednesday preview: Much anticipated unveiling from Bank of England and Sainsbury's
11th Nov 2014 15:25
Wednesday sees markets turn their attention on November's Inflation Report from the Bank of England, while on the corporate front sees Sainsbury's unveil first half results and its long-awaited strategic review. Released at 10:30 GMT, with Governor Mark Carney will also speak to reporters at a pres
Read moreLondon close: FTSE ends higher after busy day for company news
10th Nov 2014 17:06
UK stocks ended the session on a high, helped by gains across the Pond and hopes of stimulus from China following the weekend's data. The FTSE 100 climbed 44.01 points to end the day at 6,611.25. "In London, the equity market was drawn to the psychological 6,600 mark as trading volumes are as thin
Read moreFTSE 100 movers: Charles Stanley makes contrarian call on Tesco
10th Nov 2014 16:19
Supermarket rivals Tesco and Wm Morrison were among the best performers, but Sainsbury was in the red after Cantor Fitzgerald cut its target price from 320p to 275p ahead of the results of its strategic review due out this week. Although an additional decline in profits in 2015/2016 is almost inevit
Read moreSainsbury loses legal battle over Tesco Price Promise campaign
10th Nov 2014 16:08
J Sainsbury has lost a legal battle on claims Tesco's Price Promise marketing campaign was misleading, unfair and unlawful. The UK supermarket complained that Tesco had unjustly compared its own-brand prices to Sainsbury's products. The group appealed a decision by Sir Hayden Philips, the Advertisi
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