Broker snap: Tesco fairly priced, Merchant Securities keeps hold
18th Apr 2012 09:47
Tesco's preliminary results are a 'non-event' after coming in line with expectations, according to Merchant Securities, which says that the key focus point is the strategy going forward. "The statement fails to provide anything new on their strategy. UK remains the key focus with £1bn investment to
Read moreWednesday broker round-up - UPDATE
18th Apr 2012 09:12
ARM Holdings: Morgan Stanley maintains overweight rating. Ashtead: Jefferies maintains buy rating and 300p target. BHP Billiton: Barclays Capital maintains overweight recommendation and 2,400p target. British American Tobacco: Nomura raises target from 3,360p to 3,390p, buy recommendation maintai
Read moreLondon open: Stocks flat before MPC minutes
18th Apr 2012 08:22
- Supermarkets rise after Tesco's results - BHP, Fresnillo lead miners higher - Markets await MPC minutes London's blue chips opened broadly flat on Wednesday morning despite a strong rise by supermarket and mining stocks. Stocks rose strongly on Tuesday, with the Footsie gaining nearly two per ce
Read moreTesco announces billion pound UK revamp
18th Apr 2012 07:49
Supermarket giant Tesco has delivered full year results in line with latest market consensus, and said it would pump one billion pounds into a revamp of its UK operations. The firm's UK woes were highlighted as it reported UK sales, excluding petrol and VAT, were down 0.6% on the previous year. Pr
Read moreLondon pre-open: Slight fall expected
18th Apr 2012 07:35
The FTSE 100 index is expected to open slightly lower with city sources predicting the benchmark to lose around seven points in the opening minutes. Markets will be waiting for the release of the minutes from the April meeting of the Monetary Policy Committee (MPC), the policy-setting team at the Ba
Read moreTesco in line, US ops to break even later than expected
18th Apr 2012 07:00
Supermarket giant Tesco has delivered full year results in line with latest market consensus, as it announced plans to slash capital expenditure in the current fiscal year. Underlying profit before tax in the 52 weeks to February 25th rose 1.6% to £3.9bn, marginally ahead of market expectations of
Read moreWednesday preview: Tesco, BHP, Spirit, MPC minutes
17th Apr 2012 16:00
Results from Tesco are likely to hog the spotlight on Wednesday as Chief Executive Phillip Clarke sets out his plans for stopping the steady erosion of the supermarket chain's market share in its home market. The company is expected to put a price on how much it thinks it needs to invest to get th
Read moreSunday newspaper round-up: Tesco, BA, Recession
15th Apr 2012 14:48
Tesco's travails in its core British market will be exposed for all to see this week, with the group's full-year results expected to show dismal trading in the UK. The call from many quarters is that Tesco must get back to basics and sort out Britain at all costs - and pull back from its difficult A
Read moreBroker snap: Sainsbury an alternative to troubled Tesco, says Galvan
13th Apr 2012 11:09
Sainsbury is continuing to benefit from the woes of supermarket rival Tesco, according to Galvan Research and Trading, which this morning recommended investors to buy the stock. "On March 21st, supermarket Sainsbury added to the goodwill created by its record breaking Christmas performance, and pos
Read moreWeek Ahead: Tesco looking to regain the initiative
13th Apr 2012 09:22
After a pause for breath in the week after Easter company results resume full flow next week, with High Street big hitters such as Tesco, Marks and Spencer, Debenhams and WH Smith all set to update the market. The full year results from supermarket leviathan Tesco will probably garner the most atte
Read moreThursday broker round-up
12th Apr 2012 09:30
African Minerals: Jefferies keeps buy rating and 1,100p target. Aggreko: Investec maintains buy rating. Cairn Energy: Nomura cuts target from 500p to 434p, buy rating kept. Faroe Petroleum: Nomura cuts target from 213p to 209p, buy rating kept. FirstGroup: Jefferies downgrades from buy to hold,
Read moreSunday newspaper round-up: Executive pay, Tesco, Thos Cook ...
8th Apr 2012 17:51
The Chancellor of the Exchequer, George Osborne, has given the clearest signal yet that the 45p top tax rate is here to stay, the Sunday Times reports. In comments about the centrepiece of his controversial budget, George Osborne said he was "very happy" with the "competitive" top rate of tax. Bus
Read moreTesco re-brands Value range with 50s-inspired look
5th Apr 2012 12:40
Supermarket colossus Tesco has re-branded its value range in a bid to re-create a more vintage style to enure the line keeps up with its competitors. The chain's bosses have ditched the blue, white and red striped pattern for a more traditional 50s look, which is intended to make the appearance of
Read moreTesco flops as used car salesman
4th Apr 2012 15:24
The reputation of the Tesco management for sure-footedness has taken another knock, with Britain's biggest retailer scrapping the online used car site it set up a year ago. Tesco Cars was set up in April 2011 with lofty ambitions to offer up to 3,000 cars for sale each month, but came nowhere near
Read moreMice refuse to leave sinking Tesco ship
28th Mar 2012 13:15
Rats are supposed to leave a sinking ship but Tesco, reeling from news of declining market share, has found mice all too keen to infest one of its flagship convenience stores in London. Westminster Council, itself under fire for a botched attempt to introduce new highly restrictive parking regulati
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