Thursday broker round-up UPDATE
3rd Oct 2013 08:21
Alternative Networks: Westhouse Securities downgrades to neutral with a target price of 350p. ARM Holdings: Credit Suisse moves target price from 1030p to 1050p and reiterates an outperform rating. Burberry Group: JP Morgan raises target price from 1450p to 1550p reiterating a neutral rating. Car
Read moreLondon close: Late rally not enough as FTSE 100 falls for fourth straight day
2nd Oct 2013 16:43
A slight bounce in the UK-listed mining sector saw the FTSE 100 rally on Wednesday afternoon but the index still finished firmly in the red, setting a fresh one-month low as political uncertainty in the US and Italy continued to weigh on sentiment. The FTSE 100 finished down 22.51 points at 6,437.5
Read moreFTSE 100 movers: Supermarket stocks take a hit
2nd Oct 2013 14:45
Coca-Cola HBC continued to slide lower to become the biggest faller this afternoon. However, much of the focus was on supermarket giant Tesco today as it registered steep losses after disappointing the market with its interim results. Half-year underlying pre-tax profit fell 7.4% to £1.4bn as an i
Read moreSector movers: Food retailers hit by falling profits at Tesco
2nd Oct 2013 14:33
The food retail sector was suffering on Wednesday afternoon after some heavy falls from supermarket giant Tesco, as the company reported a fall in profits for the first half. Smaller rival Sainsbury was also trading in the red, as investors seemed underwhelmed with an acceleration in sales growth i
Read moreBroker tips: Gold miners, Sainsbury, Domino's Pizza
2nd Oct 2013 12:13
Citigroup has downgraded its ratings for UK-listed precious metal miners Randgold Resources, Fresnillo and Polyus Gold, raising concerns over current pricing and valuations. In a research report on Wednesday, the US bank said: "We are bearish on gold and silver shares for two reasons: firstly, we a
Read moreLondon midday: ECB, political uncertainty in focus as stocks fall
2nd Oct 2013 11:27
The FTSE 100 suffered steep losses on Wednesday morning as buyers showed caution ahead of a policy decision in Europe, whilst political uncertainty in the US and Italy continues to erode risk appetite. The all-important European Central Bank (ECB) policy decision is due at 12:45 this afternoon, tho
Read moreBroker snap: Sainsbury's Q2 'solid' but valuation fair, says Jefferies
2nd Oct 2013 10:04
Jefferies said that Sainsbury has delivered "another solid quarter" as expected but still maintained its 'hold' recommendation for the supermarket stock. The broker maintained its 385p target price, which is calculated by using a 20% discount to its net present value of 480p per share. This is equa
Read moreLondon open: FTSE 100 near three-month low as supermarkets disappoint
2nd Oct 2013 08:21
UK markets sank sharply on Wednesday morning given the uncertain outlook for the US economy in light of a partial government shutdown as politicians continue to disagree over a budget proposal for next year. Disappointing results from retail bellwethers Tesco and Sainsbury were also weighing on sen
Read moreSainsbury grabs market share in Q2 with online and own brand
2nd Oct 2013 07:08
Sainsbury enjoyed a stronger second quarter as its online shopping business expanded fast to deliver more than one billion pounds of sales per year. Like-for-like sales grew 2.1% in the 16 weeks to September 28th even against strong comparatives, with total sales accelerating to 5.0% from 3.6% in t
Read moreLondon pre-open: FTSE to fall in opening trade
2nd Oct 2013 07:00
City sources predict the FTSE 100 will open around 23 points lower than yesterday's close of 6,460.01, ignoring gains seen in the US overnight and despite an ultimately flat session on Tuesday. Wall Street closed yesterday's session with decent gains despite the partial shutdown of the US governme
Read moreLondon close: FTSE 100 falls to two-week low
25th Sep 2013 16:41
Heavy falls from Carnival, Tesco and utility stocks weighed on the FTSE 100 on Wednesday while uncertainty over the US budget and Federal Reserve monetary policy continued to dampen sentiment. London's benchmark index finished 19.93 points lower at 6,551.53, a fall of 0.3% on the day. This was the
Read moreSector movers: Supermarkets fall as competition from budget retailers ramps up
25th Sep 2013 14:10
Supermarket stocks were among the worst performers on Wednesday afternoon as gloomy comments from JPMorgan Cazenove weighed on sentiment. Tesco was the heaviest faller after the US bank downgraded its rating for the stock from 'neutral' to 'underweight', saying that the company will be the most aff
Read moreBroker snap: JPMorgan says Tesco feeling pressure from Aldi, Lidl
25th Sep 2013 10:17
Supermarket group Tesco was hit by a downgrade on Wednesday by JPMorgan Cazenove from 'neutral' to 'underweight' after the bank said that the company will be the most affected by structural problems in the UK food retailing industry. "The discounters (Aldi, Lidl) are disrupting the price/range arch
Read moreLondon close: Stocks hit by Bullard comments as post-Fed rally fades
20th Sep 2013 16:39
The exuberant post-Fed mood quickly faded on Friday with comments from one US policymaker dampening stocks before the close of trade. Risk appetite was also scaled back as caution set in ahead of the German elections at the weekend with the outcome still highly uncertain. The FTSE 100 finished 28.
Read moreFTSE 100 movers: Tate & Lyle hit by Credit Suisse rating cut
20th Sep 2013 15:02
Shares in food and sweeteners manufacturer Tate & Lyle were falling heavily on Friday after the stock's rating was cut by Credit Suisse from 'outperform' to 'neutral'. The bank said its greatest concern is a proposal in Mexico to tax soft drinks which would reduce demand the group's high-fructose
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