FTSE 100 Movers: GKN falls on downgrade
8th Dec 2011 15:25
GKN continued to fall on news that Credit Suisse had downgraded the stock from outperform to neutral. Standard Chartered fell after saying its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar. Previously the
Read moreLondon midday: No surprises from BoE, market awaits ECB decision
8th Dec 2011 11:45
After a strong start, the Footsie pared gains by lunchtime, ahead of a busy afternoon and evening in the Eurozone. The Bank of England (BoE) issued no surprises, keeping interest rates on hold. Markets are now awaiting a decision on European Central Bank (ECB) interest rates due out at 12:45 London
Read moreBroker tips: Tesco, Standard Chartered, Recruiters
8th Dec 2011 11:17
Today's update from Tesco has prompted a mixed reaction from brokers Nomura and Evolution Securities, who have given contrasting assessments of the supermarket chain's third quarter figures. Nomura is generally pleased with the statement, saying that the figures came in line with expectations. The
Read moreBroker snap: Mixed reaction to Tesco's update
8th Dec 2011 10:07
Today's update from Tesco has prompted a mixed reaction from brokers Nomura and Evolution Securities, who have given contrasting assessments of the supermarket chain's third quarter figures. Nomura is generally pleased with the statement, saying that the figures came in line with expectations. The
Read moreThursday broker round-up - UPDATE
8th Dec 2011 08:45
Tesco: Nomura keeps buy rating and 500p target. Tesco: Evolution Securities keeps reduce stance and 350p target. Tesco: Panmure Gordon keeps buy rating and 500p target. Standard Chartered: Nomura maintains buy recommendation and 1,800p target. PZ Cussons: Panmure Gordon cuts target from 380p to
Read moreLondon open: Footsie opens up, Tesco's price drops
8th Dec 2011 08:11
The Footsie opened firmly in the blue as investors looked ahead to this evening's EU summit with confidence. Meanwhile, the Bank of England (BoE) and the European Central Bank (ECB) are expected to announce their interest rate decisions after midday. ALL EYES ON THE EURO With the BoE expected to f
Read moreTesco sees UK LFL sales down, US business strong
8th Dec 2011 07:38
Tesco, the FTSE 100 retailing giant, has seen like-for-like sales drop in its UK stores by 0.9% in the third quarter compared to the equivalent period of 2010. The figure excludes income from VAT and Petrol but is in line with the performance during the second quarter. This figure comes despite the
Read moreLondon pre-open: Footsie seen higher ahead of busy day
8th Dec 2011 07:20
The Footsie is expected to open with moderate gains ahead of today's interest rate decisions by the Bank of England (BoE) and the European Central Bank (ECB). Investors will likely be cautious before the beginning of the crucial EU Summit later this evening, with many worried that it may not produc
Read moreTelefonica expands foreign operations
7th Dec 2011 12:08
Telefonica Brasil president Antonio Carlos Valente stated that he plans to increase investments in order to reach a million broadband customers in the country by 2015. The parent company estimates investments worth 24.3bn reales (around €10.1bn) in the country between 2011 and 2014. Additionally,
Read moreDigital Look broker talk
2nd Dec 2011 11:16
Tesco: "We expect Q3 will allow Tesco to evidence the early gains made in UK food (Price Drop), and possibly non-food (ranging and merchandising), reinforcing our view of a palpable shift in momentum at Tesco" [Nomura]. Admiral: "The profit warning at 9M 2011 has increased the risk in holding this
Read moreFriday broker round-up - UPDATE
2nd Dec 2011 09:42
Rolls Royce: UBS downgrades to sell from neutral, cuts target to 600p from 610p. Admiral: RBC initiates at underperform with a price target of 890p. Standard Chartered: Nomura reiterates buy recommendation and 1,800p target. Admiral: Investec maintains sell rating, cuts target to 570p from 843
Read moreWeek Ahead: Ticket to Schadenfreude for TUI
2nd Dec 2011 08:47
Massive attention has been focused on the cash-flow problems of package tour operator Thomas Cook recently, so the full-year results of rival holiday firm TUI Travel on Monday are certain to attract a lot of attention. TUI has been at pains to emphasise it has not been suffering the same sort of tr
Read moreTesco director makes a return
10th Nov 2011 15:25
Chairman of Tesco Bank Andrew Higginson, who recently announced his plans to check-out from the supermarket giant next year, has sold £1.4m worth of his shares in the firm. 54-year-old Higginson, who was formerly group finance and strategy director for the firm, is the man behind Tesco's lucrative
Read moreBroker snap: Tesco better bet than Sainsurys for Credit Suisse
7th Nov 2011 16:31
For anyone about to do their weekly shop, this might make interesting reading. Tesco is leading the way in the so called "price war" between the major Supermarket chains. At least that's according to Credit Suisse which is impressed by the aggressive posture of Britain's retail leviathan. Tesco,
Read moreBroker tips: Burberry, Tesco, Mouchel
6th Oct 2011 10:07
Seymour Pierce has kept its buy rating and 1,650p target price for British luxury brand Burberry, saying that the premium valuation to its peer group is justified. "Despite the recent sell off in Burberry shares and the sector generally driven by macro concerns over a potential global slowdown and
Read more