Broker snap: Tesco better bet than Sainsurys for Credit Suisse
7th Nov 2011 16:31
For anyone about to do their weekly shop, this might make interesting reading. Tesco is leading the way in the so called "price war" between the major Supermarket chains. At least that's according to Credit Suisse which is impressed by the aggressive posture of Britain's retail leviathan. Tesco,
Read moreLondon close: Stocks close lower despite rally
11th Oct 2011 16:35
Stocks rallied towards the close as uncertainty over the euro situation continues to stoke volatility, but the top share index still finished in the red. A much awaited vote in Slovakia has yet to take place. Opposition parties in the small central European state could move to block Slovakian appro
Read moreFTSE 100 Movers: Miners dragging index down
11th Oct 2011 14:34
Miners were dragging the index lower as investors looked to avoid risk ahead of the Slovakian vote on ratifying the European bail-out funs. Multi-metal mining titan Eurasian Natural Resources Corp was one of those on the slide, after it announced that it is looking to take full ownership of part-ow
Read moreLondon midday: Stocks fall as euro nerves resurface
11th Oct 2011 12:23
Stocks are firmly in the red now as investors nervously await a vote in Slovakia on ratification of the Eurozone rescue fund. Opposition parties in the small central European state could move to block Slovakian approval of the bailout fund, arguing that they shouldn't have to cough up to help Gree
Read moreSainsbury's acquires digital media group
11th Oct 2011 09:49
Sainsbury's has announced the £1m acquisition of online entertainment company Global Media Vault (GMV) from MBL Group. The acquisition was made to support the retailer's drive into the online and digital entertainment market following the launch of the Sainsbury's Entertainment website in November
Read moreUPDATE: Monday broker round-up
10th Oct 2011 09:08
Antofagasta: Morgan Stanley downgrades to 'underweight' from 'equalweight'. Capita: Galvan Research and Trading gives buy rating and 760p target. Premier Oil: HSBC upgrades to 'overweight' from 'equalweight'. GKN: Credit Suisse cuts target to 205p from 243p. IMI: Credit Suisse cuts target to 67
Read moreLondon open: Banks take a hit after Moody's downgrade
7th Oct 2011 08:32
Equities took a knock in early trading after Moody's dampened sentiment with the downgrade of 12 UK financial institutions. Stocks were expected to extend gains made over the last two days on the back of hopes for the struggling Eurozone. BANKS LEAD THE FALLERS The banks were the worst performers
Read moreLondon close: Footsie jumps over 3% to finish above 5,100
5th Oct 2011 16:37
The Footsie finished near its intraday highs, as it jumped back towards the 5,100 level, after a modest start on Wall Street. Global sentiment was lifted last night after on the back of comments from the European commissioner for economic and monetary affairs. In an interview with the Financial Ti
Read moreFTSE 100 Movers: Miners leading the way
5th Oct 2011 16:10
Mining companies - sensitive to swings in the global economic outlook - were heading north after markets were buoyed by the news that European Union finance ministers agreed on a plan for the co-ordinated recapitalistion of finance institutions. Xstrata, Vedanta Resources, Kazakhmys, Rio Tinto and
Read moreLondon midday: Retailers in focus, markets shrug off Italian downgrade
5th Oct 2011 12:09
Outweighing concerns over Italy's credit rating were hopes that the Europe will strengthen its struggling banks as stock markets across the continent extended their gains at lunchtime on Wednesday. In London, the Footsie was trading well over 2% higher, following on from a dramatic rally on Wall St
Read moreBroker snap: H2O Markets downgrades Sainsbury to hold
5th Oct 2011 10:22
H2O Markets has downgraded its rating on supermarket giant Sainsbury to hold as it believes that the firm will have difficulties keeping up with rival Tesco after the latter launched its 'Big Price Drop'. "While the supermarket has a broad range of promotional initiatives to attract new customers,
Read moreUPDATE: Wednesday broker round-up
5th Oct 2011 09:12
Sainsbury: H2O Markets downgrades to hold. Tesco: Baadar Bank confirms buy rating and 500p target. Kingfisher: Investec keeps hold and 245p target. Wood Group: Investec places target under review, hold recommendation maintained. SuperGroup: Peel Hunt downgrades from buy to hold, target put unde
Read moreLondon open: Footsie jumps back above 5,000, retailers mixed
5th Oct 2011 08:37
The Footsie has clawed its way back over the 5,000 level on Wednesday morning, with just four stocks registering losses, following on from a dramatic rally on Wall Street late Tuesday night. Driving the bull market in the last hour in the US - which saw the Dow swing 400 points - were reports from
Read moreLondon pre-open: Stocks to rebound
5th Oct 2011 07:35
After yesterday's shake-out stocks are set to rebound strongly this morning with City traders saying that a triple-digit rise from last night's close of 4,944 is not out of the question. Supermarket leviathan Tesco saw a 6.2% year-on-year rise in underlying profit before tax to £1.9bn in the 26 wee
Read moreSainsbury accelerates sales in second quarter
5th Oct 2011 07:02
Sainsbury announced on Wednesday that total sales in the first half grew by 7.6% (+4.3% excluding fuel) in a statement which focused mainly on its confidence in its latest scheme to promote own label ranges. Despite many expecting the supermarket giant to report a weaker second quarter than the fir
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