Thursday broker round-up - UPDATE
19th Jan 2012 09:52
Tesco: Goldman Sachs downgrades to neutral from buy. Morrison: Goldman reiterates sell. Sainsbury: Goldman downgrades to sell from neutral. Tobacco (sector): Nomura downgrades sector view from bullish to neutral. Tesco: AlphaValue downgrades to add from buy, raises target to 402.90p from 401.4
Read moreLondon close: French downgrade rumours sink Footsie
13th Jan 2012 16:34
Markets turned south in afternoon trade on rumours of imminent action by ratings agency Standard & Poor's (S&P) to downgrade the ratings of several Eurozone countries. A senior Eurozone government official has been cited as saying that both France and Austria could have their ratings downgraded by
Read moreTesco's Chairman puts his money where his mouth is
13th Jan 2012 14:36
Richard Broadbent, Non-executive Chairman of Tesco, has underlined his faith in the company with the purchase of £99,486-worth of shares following the supermarket giant's worst Christmas trading in 20 years. Broadbent, 58, who has been in the role only since November, purchased 30,149 at 329.98p e
Read moreFriday broker round-up - UPDATE
13th Jan 2012 11:19
Vodafone: Nomura upgrades to buy. Bunzl: UBS cuts to neutral from buy. RSA Insurance: Citi cuts to neutral from buy. BT Group: Nomura upgrades to buy from reduce. RBS: Seymour Price upgrades to buy from reduce. BG Group: JP Morgan raises price target to 1,900p from 1,455p. Tesco: Credit Suiss
Read moreBroker tips: Tesco, Smith & Nephew, Spectris
13th Jan 2012 10:28
Analysts at Credit Suisse seem to be amongst those who were left somewhat traumatised by the carnage in retailer Tesco's share price yesterday. Credit Suisse has revised down their Tesco earnings estimates by 13% for 2012/13E (slightly less thereafter), which is very sizeable in the context of Tes
Read moreBroker snap: CS thinks price war to get serious, Tesco first casualty
13th Jan 2012 07:43
-Details of Tesco investment plans limited. -Many earnings uncertainties remain. -Near-term returns progress (key for recent Credit Suisse optimism) now looks limited. Analysts at Credit Suisse seem to be amongst those who were left somewhat traumatized by the carnage in retailer Tesco's share pri
Read moreFriday tips round-up: Tesco, Barratt, Provident Financial, RBS
13th Jan 2012 06:56
The Telegraph's Questor column looks at yesterday's big news from Tesco that like-for-like sales in the UK dropped 2.3% in the final six weeks of last year. That announcement has seen the stock lose 18.5% of its value in the last 24 hours. Questor makes the point that Warren Buffet, the great shama
Read moreLondon close: Stocks erase gains, Tesco falls 16%
12th Jan 2012 16:24
Gains were pared in afternoon trade on Thursday following a poor start on Wall Street, meaning that the FTSE 100 finished in the red for the second day in a row. It was a busy day on the corporate news front, with Tesco and RBS grabbing the headlines, while central banks did what was expected and ke
Read moreSector movers: Sharp fall for retailers, Tesco drops 15%
12th Jan 2012 15:41
Food and drug retailers fell by an average 12% on Thursday as a number of trading updates and results failed to impress. Supermarket titan Tesco led the declines falling nearly 15%. 'Must do better' is the theme of the firm's Christmas trading statement, as it saw the sales performance in its home
Read moreFTSE 100 Movers: Tesco on the bottom shelf
12th Jan 2012 14:24
Tesco's Christmas trading statement plunged the UK's leading supermarket chain into the bottom spot after reporting that its sales performance in the home market fell below expectations, prompting the company to advise full-year trading profit growth will be around the low end of the range of analys
Read moreLondon midday: Banks rise, retailers drop, BoE maintains rate
12th Jan 2012 11:58
After a subdued start, the Footsie seems to have found its direction, trading up near the 5,700 level, helped by the latest Italian and Spanish debt auctions which saw solid demand and a fall in yields. Italy has sold a total of €12bn in bills, with yields on its 12-month debt falling to 2.74% from
Read moreBroker tips: Tesco, BSkyB, WPP
12th Jan 2012 11:26
Despite cutting forecasts for Tesco after a disappointing Christmas, Nomura has maintained its buy rating on the supermarket giant. "Tesco traded through Christmas with a lower level of promotions, and against an increased level of competitor promotions and coupons, thus losing traction across the
Read moreBroker snap: Nomura keeps faith in Tesco
12th Jan 2012 09:43
Despite cutting forecasts for Tesco after a disappointing Christmas, Nomura has maintained its buy rating on the supermarket giant. The firm disappointed investors on Thursday after UK sales (excluding fuel but including Value Added Tax) in the six weeks to January 7th fell 1.3% on a like-for-like
Read moreThursday broker round-up - UPDATE
12th Jan 2012 09:08
Reckitt Benckiser: J.P. Morgan Cazenove downgrades to neutral from overweight. Tesco: Nomura reiterates buy rating and 500p target; Panmure Gordon cuts target from 500p to 440p, buy rating unchanged. Royal Bank of Scotland: Shore Capital reiterates sell. Tesco: Shore Capital downgrades to hold fr
Read moreLondon open: RBS rises after shake-up, Tesco plummets
12th Jan 2012 08:28
A sharp fall for the retailers was met with a strong showing by the banks this morning, equating to a flat start for the FTSE 100. It has been reasonably busy on the corporate front, with several firms providing trading statements, but RBS and Tesco dominated the headlines early on. MARKETS CELEBRA
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