Tesco returns to LFL growth
3rd Oct 2012 07:02
First half profit before tax took a tumble at Tesco, though the group returned to like-for-like (LFL) sales growth in the UK in the second quarter. Statutory profit before tax fell 11.6% from a year earlier to £1.7bn in the 29 weeks ended August 25th, while adjusted profit before tax was down 8.5%
Read moreWednesday preview: Retailers slug it out
2nd Oct 2012 12:23
Half-year results from retail giant Tesco are probably the main event of the week on the corporate agenda, but in Panmure Gordon's view, the figures won't mean much in the grand scheme of things. "We don't regard the actual numbers as being that interesting. What we are looking for is progress in t
Read moreLondon close: Stocks surge after US data, Spanish stress tests
1st Oct 2012 16:45
- US data beats forecasts in September - Reports imply Germany may soften stance on Greece - Banks and miners rise strongly in London - Credit Suisse says Spanish stress test a "generally credible exercise" - Credit Suisse says larger top-down questions remain in stress tests Better-than-forecast m
Read moreLondon midday: Strong start to Q4; Footsie up one per cent
1st Oct 2012 11:24
- Investors taking advantage of underpriced stocks, says analyst - Asian and UK data disappoints - Xstrata rises after agreeing terms with Glencore London's blue-chip index gained strongly in morning trading on Monday with increased risk appetite benefitting the banking and mining sectors as stocks
Read moreBroker tips: Glenstrata, Tesco, Tobacco stocks
1st Oct 2012 11:11
Jefferies has reiterated its 'buy' ratings for potential merger partners Glencore and Xstrata after the companies announced on Monday morning that they had reached agreement on the final terms of a tie-up. Jefferies said that both Xstrata and Glencore shares may underperform for a short period afte
Read moreBroker snap: Seymour Pierce downgrades Tesco on visibility issues
1st Oct 2012 09:43
Seymour Pierce has downgraded its rating for supermarket giant Tesco from 'hold' to 'reduce' ahead of the group's first-half figures this week, saying that visibility remains poor. On October 3rd, Tesco will report its results for the six months to the end of August, in which Seymour Pierce is fore
Read moreMonday broker round-up
1st Oct 2012 08:58
Barclays: Liberum Capital upgrades to buy, target lifted from 210p to 245p. British American Tobacco: Investec upgrades to buy. Capital & Counties: Seymour Pierce downgrades from buy to add, 233p target kept. Charles Stanley: Peel Hunt downgrades to hold. Electrocomponents: Panmure Gordon downgr
Read moreSunday newspaper round-up: Xstrata, Spain, BAE
30th Sep 2012 16:22
The board of Xstrata is to recommend Glencore's revised $80bn (£49bn) merger offer in a move which will create a global commodities and mining powerhouse. The Telegraph understands that Xstrata's board, led by Chairman Sir John Bond, has this weekend agreed to the final points of its recommendation.
Read moreBroker tips: Electrocomponents, Compass, Tesco
28th Sep 2012 18:41
In a report issued yesterday analysts at Charles Stanley downgraded their view on shares of contract caterer Compass Group, to hold from buy. Thus, they pointed out how: "Over the last 12 months the Compass Group share price has risen by 30% and is near record highs. "Compass Group will be publ
Read moreLondon close: Dull end to sparkling quarter
28th Sep 2012 16:50
Early gains dissipated in London and by the time Wall Street opened lower investors were in the mood to bank some of this quarter's handsome gains; despite today's fall, the top share index still put on close to 250 points in the third quarter. Sentiment was boosted early on by consumer confidence
Read moreLondon midday: Back to square one
28th Sep 2012 11:37
It is more or less back to square one for Footsie after a bright start. Setiment was boosted early on by consumer confidence data that was not as bad as feared. Consultancy GfK´s consumer confidence gauge for the month of September rose by 1 point in September, to -28. The consensus estimate was
Read moreWeek Ahead: Sainsbury and Tesco go head-to-head
28th Sep 2012 09:54
There is a retail theme to next week's results, with supermarket giants Tesco and Sainsbury set to report, along with car products provider Halfords, homewares retailer Dunelm and fashion chain Ted Baker. On the economic front, central banks will be in focus with the European Central Bank making it
Read moreLondon open: Cautious advance on big day for macro-data
28th Sep 2012 09:05
Leading shares are firmer on balance, helped by consumer confidence data that was not as bad as feared. Consultancy GfK´s consumer confidence gauge for the month of September rose by 1 point in September, to -28. The consensus estimate was for a retreat to -30. The increase in the index comes aft
Read moreBroker snap: Seymour Pierce downgrades Tesco
28th Sep 2012 09:00
Analysts at Seymour Pierce have downgraded their view on shares of food retailing giant Tesco ahead of its report of first half results (to the end of August) on Wednesday October 3rd. The broker believes that markets will focus on the company´s core UK business and an update on how the implementat
Read moreLondon pre-open: Footsie to renew assault on 5800
28th Sep 2012 07:29
City sources predict the FTSE 100 will open 28 points up from yesterday's close of 5,779 as markets give a generally positive response to Spain's austerity budget. Spain has pushed through €40bn of new austerity measures, despite violent protests across the country. Premier Mariano Rajoy has put a
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