London midday: Stocks make gains on light volumes
11th Feb 2013 11:31
On a light day for economic data and trading volumes, the FTSE 100 was registering moderate gains by Monday lunchtime. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed for
Read moreLondon open: Markets lack direction early on
11th Feb 2013 08:37
The FTSE 100 opened flat on Monday morning with volumes thin as Asian markets close for the Lunar New Year holidays. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed. "At
Read moreMonday broker round-up UPDATE
11th Feb 2013 07:41
Aquarius Platinum: Deutsche Bank shifts target price from 82p to 83p keeping a buy recommendation. AstraZaneca: JP Morgan cuts target price from 2970p to 2750p and retains an underweight rating. Avation: WH Ireland ups target price from 120p to 140p, while its buy recommendation is kept. Bellway:
Read moreFriday newspaper round-up: Barclays, EU budget, Chinese trade...
8th Feb 2013 07:02
More than 1,000 investment bankers at Barclays have been told they will not receive up-front cash bonuses this year. Managing directors in the group's investment banking arm were informed that their 2012 bonuses would be deferred for at least a year. The move is part of Antony Jenkins' attempts to r
Read morePetrol pump competition is fair, OFT decides
30th Jan 2013 14:35
Competition at petrol stations is fair, the Office of Fair Trading (OFT) announced Wednesday. In an call for information launched in September last year, the OFT determined that competition at the pump is "working well", and blamed the increases in petrol and diesel over the past 10 years on rising
Read moreWednesday newspaper round-up: BP, Bumi, Barclays...
30th Jan 2013 07:09
Iran believes BP-operated Azeri oil platforms have polluted the Caspian Sea and may sue the UK oil group if it continues, Iran's deputy environment minister has been reported as saying by Iranian media. Iranian officials have complained that Azeri oil has washed up on Iranian beaches over the last y
Read moreFriday newspaper round-up: Chinese GDP, FT sale, Tesco...
18th Jan 2013 07:07
China's economy slid to its slowest growth in more than a decade last year, dragged down by global woes and a domestic campaign to deflate a property bubble. But the country finished 2012 on a higher note with a rebound that analysts believe will filter into a stronger performance this year. China's
Read moreTesco shares fall on horse meat discovery
16th Jan 2013 08:39
Tesco's shares fell Wednesday after horse meat was discovered in the supermarket chain's beef burgers. Tests on beef products sold in British grocers including Tesco, Lidl, Aldi, Iceland and Dunnes Stores, showed low levels of the animal's DNA. The Food Safety Authority of Ireland (FSAI) have carr
Read moreSainsbury and Tesco confirmed as top food retailers going into 2013
15th Jan 2013 14:18
Sainsbury has been confirmed as the joint top performing food retailer going into 2013, alongside Tesco, following a report by market researcher Kantar Worldpanel. According to data published Tuesday, both companies delivered a 3.9% cash sales growth rate in the six weeks to January 6th, with mark
Read moreAsda boardroom shake-up could benefit rivals
11th Jan 2013 15:21
The relocation by Asda's Chief Operating Officer (COO) to parent company Wal-Mart may not have grabbed the headlines in the supermarket industry on Friday, but one analyst believes that the move has positive read-through for Asda's rivals in the UK. Judith McKenna, who has worked for Asda for many
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
Read moreLondon close: Markets flat as central banks hold rates
10th Jan 2013 16:44
The FTSE 100 swung between gains and losses for most of Thursday's session as investors digested a host of economic data, bond auctions in the Eurozone and policy decisions by the Bank of England (BoE) and European Central Bank (ECB). Nevertheless, the Footsie managed to finish in positive territor
Read moreSector movers: Tesco lifts retail sector higher
10th Jan 2013 16:18
The food and drug retail sector was performing well on Thursday afternoon, with a strong rise from Tesco offsetting weakness elsewhere. Shares in supermarket giant Tesco were up 2.28% at 357.1p in afternoon trade today after the company's trading update for the six weeks to January 5th. Sales durin
Read moreReport claims Sainsburys source questions Tesco trading statement etiquette
10th Jan 2013 12:46
Competition between two of the UK's largest supermarket chains heated up on Thursday morning after a news report published by Sky News claimed that an executive at Sainsbury's had issued an email to City analysts asking them to question rival Tesco's latest trading update. The unnamed alleged sourc
Read moreLondon midday: Stocks flat as BoE holds rates
10th Jan 2013 11:22
The Footsie was trading broadly flat on Thursday morning despite some decent trade data from China and solid debt auctions in the Eurozone, as investors kept a close eye on central bank decisions. At midday, the Bank of England announced that it has kept its official Bank Rate at 0.5% and its asset
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