Tesco's Thai property fund raises 152m pounds
30th Nov 2012 13:30
Tesco's property fund in Thailand, which floated in March, has raised 152m pounds to invest in a further five shopping malls in the country. The Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TGLF) issued units at a price of 27p each to raise the cash. The offer was 150% over-subsc
Read moreFTSE 100 movers: Broker upgrades lift Johnson Matthey and Croda
30th Nov 2012 13:25
Blue-chip constituents Johnson Matthey, Croda, Pennon and Intertek were performing well on Friday afternoon following a number of upbeat broker comments. Chemical peers Johnson Matthey and Croda International were lifted higher after Credit Suisse upgraded the companies from 'neutral' to 'outperfor
Read moreSector movers: Supermarket stocks gain despite OFT ruling
30th Nov 2012 13:00
The food and drug retail sector was on the up on Friday afternoon with supermarket stocks performing well in spite of the regulatory ruling that brings 'yo-yo pricing' to an end. The Office of Fair Trading (OFT) has been investigating food pricing display and promotional practices by some of the bi
Read moreBroker tips: Tesco, IMI, Mitchells & Butlers
27th Nov 2012 10:46
Credit Suisse has retained its 'neutral' rating and 350p target price for supermarket behemoth Tesco ahead of the company's third-quarter results due on December 5th. Analyst Andrew Kasoulis said in a research report on Tuesday morning: "We do not expect quarter-on-quarter underlying improvement in
Read moreBroker snap: Credit Suisse sees little Q3 improvement at Tesco
27th Nov 2012 10:35
Credit Suisse has retained its 'neutral' rating and 350p target price for supermarket behemoth Tesco ahead of the company's third-quarter results due on December 5th. Analyst Andrew Kasoulis said in a research report on Tuesday morning: "We do not expect quarter-on-quarter underlying improvement in
Read moreMonday newspaper round-up: Barclays, Taxes, Gemfields,
26th Nov 2012 06:24
Some of Barclays's biggest investors have urged Antony Jenkins, the bank's new chief executive, to take an axe to its investment bank. At meetings with investors in recent weeks, at least three of the 30 biggest shareholders have told Mr Jenkins and other senior Barclays executives that the UK group
Read moreFriday broker round-up -UPDATE
16th Nov 2012 07:22
Anglo American: Deutsche Bank cuts target price from 2600p to 2520p and reiterates a buy rating. Atkins: JP Morgan Cazenove reduces target price from 862p to 859p, overweight rating maintained. Bodycote: Investec raises target price from 400p to 410p, buy recommendation remains unchanged. Brammer
Read moreWednesday newspaper round-up: Pearson, Bank of England, Tesco
7th Nov 2012 07:16
Pearson, the FTSE 100 media group, is planning to explore a sale of the financial daily newspaper within months, Bloomberg reported, so that the company can focus on its fast-growing education division. Dame Majorie Scardino, the chief executive of Pearson, once said famously that the FT would be so
Read moreSupermarkets do battle over petrol prices
25th Oct 2012 14:50
Tesco, Sainsbury and Asda have all shaved 2p off their petrol prices in an effort to out bid one another at the pump. This latest battle was initiated by Asda on Wednesday and was closely followed by its rivals. Drivers steering their way to Asda will hand over a maximum of 133.7p a litre for pe
Read moreWednesday broker round-up
24th Oct 2012 09:25
African Barrick Gold: Investec raises target from 485p to 530p, hold rating kept. Aggreko: Seymour Pierce maintains buy rating and 2,500p target. AstraZeneca: Panmure Gordon keeps hold rating and 3,000p target. British American Tobacco: Jefferies keeps buy rating and 3,730p target; Panmure Gordon
Read moreSunday newspaper round-up: RBS, BP, Asos
21st Oct 2012 16:09
Nationwide is considering a takeover bid for the 316 bank branches that have been put back up for sale by Royal Bank of Scotland. Britain's biggest building society is mulling a possible offer following the collapse of a £1.65bn deal to sell the network to Santander UK. RBS, which has to dispose of
Read moreFriday newspaper round-up: Tesco, Vodafone, Redrow
19th Oct 2012 07:01
Tesco Bank has sparked a possible mortgage price war by taking advantage of cheap government money to launch cut-price deals. Chief executive Benny Higgins unveiled what he called "market-leading rates" after announcing that Tesco was accessing the Bank of England's Funding For Lending Scheme. Edinb
Read moreLondon close: Barclays limits gains after PPI confession
18th Oct 2012 16:44
- Barclays to take another unexpected hit from PPI claims - Chinese data boosts miners - Markets cautious before EU summit After swinging between gains and losses for most of the session, UK stocks finished flat on Thursday despite some robust growth figures from China, as some worse-than-expected
Read moreLondon midday: Stocks flat but BP gains after Rosneft deal
18th Oct 2012 11:39
- BP gains after Rosneft offer - Markets cautious ahead of EU summit - Chinese economic data impresses The Footsie was trading within a narrow range of just 22 points on Thursday morning as investors showed caution ahead of the upcoming EU summit in Brussels this afternoon. The UK benchmark was f
Read moreBroker snap: UBS upgrades Tesco to "Buy"
17th Oct 2012 12:45
UBS has upgraded Tesco to "buy" from "neutral" with a twelve month price target of 370p, up from 350p. Its analysts stated that they believe Tesco is recalibrating the manner in which value is delivered to shareholders by lowering capital intensity and focusing on cash generation. "This has the sc
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