Broker snap: Tesco gains after Credit Suisse upgrade
6th Mar 2013 09:29
Shares in supermarket giant Tesco were making gains on Wednesday after Credit Suisse raised its recommendation for the stock from 'neutral' to 'outperform' and hiked its target price from 355p to 430p. In a research report, the broker said: "We think growth/capital discipline can co-exist and the s
Read moreWednesday broker round-up UPDATE
6th Mar 2013 07:03
Advanced Medical Solutions: Investec takes target price from 68p to 74p and maintains a buy recommendation. Aggreko: Citigroup reduces target price from 2550p to 2100p, while keeping a buy rating. Ashtead Group: Citigroup raises target price from 590p to 660p leaving its buy recommendation unalter
Read moreTesco to source more meat from the UK
27th Feb 2013 14:35
Tesco's Chief Executive, Phil Clarke, said Wednesday that the company will purchase more of its meat from the UK and reassured investors that its sales had suffered only a 'minimal' impact as a result of the horsemeat scandal. In an interview with Sky News, the head of the supermarket chain said:
Read moreTesco to cut jobs at distribution centre, reports say
26th Feb 2013 14:13
Supermarket giant Tesco is cutting around 2,000 jobs across its UK distribution centres, it was reported Tuesday. The retailer said the move to close some of its centres and open others follows a review of its distribution network. Those who lose their positions will be offered another job withi
Read moreSainsbury increases market share in wake of horsemeat scare
26th Feb 2013 14:05
J Sainsbury is the only one of the four largest UK supermarkets to increase its market share as the industry was hit by the UK's horsemeat scandal, according the data from Kantar Worldpanel Tuesday. Spending at the British grocer rose 4.6% in the 12 weeks to February 17th and market share increase
Read moreTuesday newspaper round-up: Italy, Tesco, Rio Tinto...
26th Feb 2013 06:49
The eurozone's debt crisis strategy was in chaos on Monday night after anti-austerity parties appeared on track to win a majority of seats in the Italian parliament, vastly complicating efforts to forge a government able to carry through EU-imposed reforms. In an earthquake result, the Five Star p
Read moreTesco calls in police after Clubcard points go missing
19th Feb 2013 14:59
Supermarket giant Tesco has had to call in police after discovering that hundrends of pounds-worth of vouchers have gone missing from its online Clubcard accounts. The company believes that dozens of Clubcard accounts may have been targeted by online fraudsters after a number of customers complain
Read moreTuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
Read moreSunday newspaper round-up: RBS, Bumi, easyJet
17th Feb 2013 16:03
George Osborne was yesterday said to be considering a mass giveaway of the government's shares in the Royal Bank of Scotland before the next general election. Reports suggested that taxpayers would each receive a pre-election boost of several hundred pounds under proposals being worked on by the Tre
Read moreSector movers: Supermarket stocks hit by ongoing horsemeat scandal
15th Feb 2013 15:16
The horsemeat scandal in the UK continued to take its toll on the supermarkets on Friday, with food retail stocks among the worst performers of the day. Walmart's Asda said this morning that it was forced to take its 'Chosen By You 350g Beef Bolognese' sauce off its shelves following the detection
Read moreFormer Dixons boss joins Monsoon Accessorize after shock exit from Apple
15th Feb 2013 14:55
Former Dixons boss John Browett has been appointed the new Chief Executive of Monsoon Accessorize, four months after he stepped down from the helm of Apple's retail division. Browett will manage the fashion retailer's 1000-plus stores across 74 countries, including over 380 in the UK and Ireland.
Read moreTesco completes sale and leaseback transaction
13th Feb 2013 15:21
Supermarket giant Tesco has announced the completion of a new sale and leaseback transaction, under which four trading stores and three mixed-use sites currently under development have been sold as part of a 50/50 joint venture with the Cambridge University Endowment Fund. The sites have been sold
Read moreLondon close: Subdued finish to a quiet day
11th Feb 2013 16:34
The FTSE 100 was swinging between gains and losses for most of Monday's session with markets across Europe lacking direction on a quiet day. "Global markets are trading lower today which may be related to the significant strength within the markets within 2013," said market analyst Craig Erlam from
Read moreSector movers: Retailers gain as Tesco boosted by upgrade
11th Feb 2013 15:59
Food retailers were on shopping lists on Monday afternoon, with supermarket giant Tesco making gains after an upgrade by Exane BNP Paribas. The French broker raised its rating for the stock from 'underperform' to 'neutral' and lifted its target price from 320p to 375p, saying that company is "begin
Read moreFTSE 100 movers: Miners broadly higher but Randgold takes a hit
11th Feb 2013 15:09
Miners were performing well today, with EVRAZ and ENRC among the highest risers on the blue-chip index. However, Rio Tinto was in the red despite the Australian Competition Tribunal ruling that its Hamersley and Robe rail network should not be opened up to other users. Supermarket giant Tesco wa
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