Broker tips: Burberry, Sage, Sainsbury
13th Apr 2012 11:26
UBS has raised its target price for luxury brand Burberry from 1,370p to 1,580p ahead of its fourth quarter sales update next week. The broker is expecting the company to report a 16.5% growth in sales (constant currency), significantly lower than the 23.7% growth seen in the first nine months of t
Read moreBroker snap: Sainsbury an alternative to troubled Tesco, says Galvan
13th Apr 2012 11:09
Sainsbury is continuing to benefit from the woes of supermarket rival Tesco, according to Galvan Research and Trading, which this morning recommended investors to buy the stock. "On March 21st, supermarket Sainsbury added to the goodwill created by its record breaking Christmas performance, and pos
Read moreAsda growing market share as Tesco falters
28th Mar 2012 08:09
Asda is the rising force in the British supermarket war, according to research firm Kantar Worldpanel. Figures covering the first 12 weeks of the year show the Walmart subsidiary now has 17.9% of the UK market, after posting a year-on-year growth rate of 7.8%. This is mainly because it has now inc
Read moreThursday broker round-up
22nd Mar 2012 09:58
AMEC: JP Morgan Cazenove downgrades from overweight to neutral, target lifted from 1,252p to 1,344p. AstraZeneca: Liberium Capital upgrades from sell to buy, target lifted from 2,700p to 3,100p. British Land: Espirto Santo downgrades from buy to neutral. Capital Shopping Centres Group: Societe Ge
Read moreLondon close: Stocks flat as investors digest Budget
21st Mar 2012 16:47
- FTSE 100 unchanged on the day after subdued reaction to Budget - MPC unanimous on interest rates, divided on QE - Weir slumps on negative read-across from Baker Hughes The markets gave a rather muted reaction to today's Budget announced by Chancellor of the Exchequer George Osborne at lunchtime,
Read moreFTSE 100 movers: Retailers rise as stocks react to Budget
21st Mar 2012 15:13
The retailers were on the rise today with Sainsbury leading the charge after fourth quarter like-for-like (LFL) sales beat expectations. Meanwhile, George Osborne's Budget revealed that all-day trading on Sundays will be allowed from July 22nd to coincide with the Olympics and Paralympics, somethin
Read moreLondon midday: Markets show caution ahead of Budget
21st Mar 2012 11:32
- Budget to commence shortly - MPC votes unanimously on rates, divided on asset purchases - Wolseley, Serco, Vodafone advance after broker upgrades After a strong start, UK stocks pared early gains ahead of the upcoming 2012 Budget announcement expected shortly from the Chancellor of the Exchequer,
Read moreBroker tips: Imperial Tobacco, Sainsbury, Bovis Homes
21st Mar 2012 11:29
Nomura has reiterated its neutral rating and 2,150p target price for Imperial Tobacco, despite the group's new sales-led growth strategy. "We fail to see Imperial's new sales focus having the impact required in terms of re-invigorating the top line, and believe this will likely become evident with
Read moreBroker snap: Jefferies keeps hold of Sainsbury
21st Mar 2012 10:42
Jefferies has maintained its hold rating and 310p target price for the UK's third-largest food retailer, Sainsbury, saying that it has the highest leverage/multiples and the lowest return on capital employed (ROCE) relative to its peers. The US broker said that the firm's strong fourth quarter sale
Read moreLondon open: Stocks rise ahead of Budget
21st Mar 2012 08:48
- Budget expected at 12:30 - Retailers rise, Sainsbury in demand - Serco upgraded by HSBC, Morgan Stanley The Footsie was bouncing back in early trading on Wednesday, following a steep fall the day before as fears about a slowdown in Chinese economic growth fuelled a sell-off in the mining sector.
Read moreSizzling Sainsbury
21st Mar 2012 07:59
Sainsbury. once Britain's leading supermarket chain by sales but now relegated to the number three slot, has continued its revival in the fourth quarter with like-for-like (LFL) sales growth ahead of expectations. LFL sales in the 10 weeks to March 17th were up 2.5% year-on-year, or 2.6% excluding
Read moreLondon pre-open: FTSE claws back some of yesterday's losses
21st Mar 2012 07:30
City sources predict the FTSE 100 will open up 10 points from yesterday's close of 5,891, easing yesterday's losses which followed warnings over China's economy. Investors are likely to exercise caution ahead of today's Budget announcement, due to begin at 12:30. Like-for-like sales (LFL) growth
Read moreSainsbury delivers more than expected
21st Mar 2012 07:08
Like-for-like sales (LFL) growth at Sainsbury has been stronger than the market had been expecting in the supermarket group's fourth quarter. LFL sales in the 10 weeks to March 17th were up 2.5% year-on-year, or 2.6% excluding fuel. The market has been expecting growth of 2.1%. Total sales for the
Read moreLondon close: Chinese fears fuel sell-off
20th Mar 2012 16:26
- Miners drop on Chinese outlook - Glencore to buy Viterra for 3.9bn pounds - Supermarket stocks rise on broker upgrades Concerns about slowing growth in China have dampened sentiment today with miners bearing the brunt of the sell-off as falling house prices and rising fuel costs are feared to be
Read moreWeek Ahead: All eyes on the Chancellor
16th Mar 2012 08:15
Wednesday is the big day next week, when the Chancellor of the Exchequer, George Osborne, unveils details of the Finance Bill, known to the likes of you and me as 'the Budget'. After ratings agency Fitch warned on Thursday that there is a slightly better than evens chance that Britain will lose its
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