Sainsbury buys out bank arm as market share peaks - UPDATE
8th May 2013 07:10
Supermarkets group Sainsbury lifted profits 6.2 per cent last year as it increased its market share to the highest level for a decade. The grocer has reached an agreement to take full ownership of its joint venture banking business, but did not address rumours about the potential impending departur
Read moreWednesday preview: Next and Sainsbury report
7th May 2013 15:42
Next is expected to report retail sales growth when it unveils its first quarter results Wednesday, according to Panmure Research. The broker recommended a 'buy' rating, saying the UK retailer's online offering has put it in a prime position for growth. "Our 'buy' rating is based on our long term
Read moreSainsbury confirms plans to sell Bank business to Lloyds
7th May 2013 07:53
Supermarket giant Sainsbury has said it notes the recent press speculation and has confirmed that it is in 'advanced negotiations' with Lloyds Banking Group to take full ownership of Sainsbury's Bank. It added that it will make a further announcement in "due course". NR
Read moreWeek ahead: All eyes on Sainsbury and Sage
3rd May 2013 16:00
Next week looks set to be somewhat quieter than the one just gone, partly because of the Bank Holiday on the Monday and partly because of less market-moving economic events that we have seen as of late, such as the rate cut in Europe and the all-important US jobs report. Nevertheless, a handful of
Read moreBroker tips: Lloyds, Legal & General, Sainsbury
2nd May 2013 11:15
Investec has downgraded its recommendation for Lloyds Banking Group from 'hold' to 'sell' and left its target price at 50p following the bank's first-quarter results this week. Analyst Ian Gordon said that after an exceptionals-enhanced attributable profit of £1.5bn in the first three months of the
Read moreBroker snap: UBS hikes forecasts for Sainsbury ahead of results
2nd May 2013 10:42
Another solid increase in profits is expected from Sainsbury when it reports its full-year report on May 8th, according to UBS which lifted its estimates for the supermarket giant on Thursday. The broker, which kept a 'buy' rating for the stock, lifted its full-year profit before tax estimate by 5.
Read moreTuesday broker round-up UPDATE
30th Apr 2013 08:20
Aberdeeen Asset Management: Morgan Stanley raises target price from 478p to 548p retaining an overweight rating. Bank of America ups target price from 455p to 475p and leaves its neutral rating unchanged. JP Morgan increases target price from 532p to 573p and maintains an overweight rating. Citigrou
Read moreLondon close: Aberdeen leads markets to strong finish
29th Apr 2013 16:58
A combination of political developments in the Eurozone, positive US data and optimism about central-bank stimulus lifted markets higher on Monday as stocks extended gains following a strong showing last week. Markets across Europe started today's session strongly after Italy formed a new coalition
Read moreFTSE 100 movers: Aberdeen Asset Management leads risers
29th Apr 2013 15:08
Aberdeen Asset Management was the stand out performer on Monday after it said assets under management (AuM) increased in the last six months, as risk appetite continued to improve. AuM increased 13% to £212.3bn for six months to March 31st 2013 from the same time a year earlier on the back of a po
Read moreMonday broker round-up UPDATE
29th Apr 2013 08:17
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu
Read moreMonday newspaper round-up: BP, AstraZeneca, Sainsbury's...
29th Apr 2013 06:48
The Telegraph writes that BP's giant underwater oil project offshore Angola has come in four billion dollars over budget after delays set it back a year. According to The Independent, unions are meeting with AstraZeneca in an attempt to convince the pharmaceuticals group to reverse plans to shut do
Read moreThursday newspaper round-up: Sainsbury's, BP, Apple...
18th Apr 2013 06:56
Supermarket giant Sainsbury's is looking to sell its London headquarters and has told 150 head-office staff that they will be relocated to Coventry and Manchester, reports The Independent. The group has also said it plans to close its final-salary pension scheme. According to the Financial Times, i
Read moreTuesday newspaper round-up: Boston, Barclays, Petrol prices...
16th Apr 2013 06:49
Three people are said to have been killed and over a hundred injured by two explosions near the finishing line of the Boston marathon yesterday. "The White House said the incident would be handled as an 'act of terror'. If confirmed as terrorism, it would be the most dramatic such incident on the ma
Read moreWednesday broker round-up UPDATE
3rd Apr 2013 08:41
Aggreko: Credit Suisse takes target price from 1850p to 2000p staying with its neutral rating. Andor Technology: Investec ups target price from 500p to 525p reiterating a buy recommendation. AngloAmerican: Credit Suisse cuts target price from 2100p to 1900p and reiterates a neutral rating. Antofa
Read moreLondon close: Stocks gain on US data, but Cyprus still in focus
26th Mar 2013 16:42
Strong economic data from the States lifted stocks in afternoon trade on Tuesday, but UK markets remained rangebound with one eye kept firmly on Cyprus. US durable-goods orders grew at a 5.7% clip in February from a month earlier, well ahead of the 3.9% increase forecast by the consensus. Meanwhile
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