FTSE 100 Movers: Vodafone boosted by new plans
23rd Sep 2011 12:28
Engineering firm Weir group was the biggest faller among FTSE 100 constituents after wiping more the £250m from its market value. The bad news looks set to continue throughout Friday as miners bear the brunt of the current economic turmoil. Worrying economic data from China added to the woes, with
Read moreLondon midday: FTSE 100 below 5,000 points
23rd Sep 2011 12:04
This morning's rally is a distant memory now with stocks tumbling below the 5,000 point mark as nerves set in again. Miners are prominent in the firing line as metals prices slide, with Xstrata and Kazakhmys sharply lower. Gold miner Centamin Egypt is also suffering big losses. Copper fell by 7%.
Read moreTesco's 'Big Price Drop' angers rivals
23rd Sep 2011 10:18
Supermarket giant Tesco has revealed details of its 'Big Price Drop', a £500m price offensive which it claims will provide immediate help to struggling families. "From Monday, Tesco will reduce the prices of more than 3,000 products that customers need to buy every day - such as milk, bread, fruit
Read moreBroker snap: Evolution upgrades Tesco on £500m price offensive
23rd Sep 2011 10:13
Evolution Securities has upgraded supermarket giant Tesco from sell to neutral, on the back of a £500m price repositioning which begins next week. The company released a statement on Thursday titled 'Tesco's Big Price Drop', in which it announced "immediate help for families all over the country in
Read moreUPDATE: Friday broker round-up
23rd Sep 2011 09:42
Tesco: Evolution upgrades from sell to neutral. Tesco: Nomura keeps its buy recommendation. Kingfisher: Nomura reiterates buy rating. Carnival: Charles Stanley keeps accumulate rating. HSBC: Evolution Securities maintains sell rating. Euromoney Institutional Investor: Investec retains buy rati
Read moreTesco price cut offensive seen hurting Ocado most
22nd Sep 2011 10:21
Supermarket giant Tesco has summoned all of its store managers into work this Sunday to get ready for a price-cutting offensive. News of the initiative sent shares in supermarkets - and even more notably, Ocado, the company that delivers groceries from the upmarket supermarket Waitrose - lower yes
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreLondon pre-open: Mixed start expected
21st Sep 2011 07:21
London's top-share index is set to open more or less unchanged with investors sitting on their hands ahead of the release today of the minutes from the September meeting of the Bank of England's rate-setting committee. Significantly, news last night from the European Comission that inspectors from
Read moreTesco to float £300m Thai property fund
21st Sep 2011 07:17
A Tesco subsidiary, Tesco Lotus, has announced that it will launch an initial public offering (IPO) in Thailand of the Tesco Lotus Property Fund with an appraised value of 14bn Baht (more than £300m). To begin with, the property fund will be made of 15 existing shopping malls, each of which will be
Read moreUPDATE: Tuesday broker round-up
20th Sep 2011 13:38
BAE Systems: Societe Generale upgrades to buy, raises target to 330p from 280p. Kesa Electricals: Espirito Santo downgrades to sell, cuts target from 110p to 75p. Wilmington Group: Peel Hunt upgrades to buy. Moneysupermarket.com: Brewin Dolphin upgrades to buy. Barratt Developments: Citigroup up
Read moreFirst broker round-up of the morning
20th Sep 2011 10:47
Ocado: UBS keeps at Buy, lowers the price target to 150p from 170p. Dairy Crest: UBS keeps at Neutral, lowers price target to 355p from 400p. Tesco: Nomura keeps on Conviction Buy list. AB
Read moreSunday newspaper round-up: UK QE II, ARM, China, ASOS, BoE
18th Sep 2011 17:21
What will a second round of quantitative easing (QE II) do for equities, gilts and Sterling? asks Neil Hume in this Weekend's Financial Times. Well, both Goldman and Citi believe that QE II will centre on long dated public debt. In fact, Citi believes the Bank of England (BoE) could even end up bu
Read moreLondon and Stamford has readies for Tesco purchase
16th Sep 2011 07:26
Property company London and Stamford Property has completed the £14.89m financing with the Metropolitan Life Insurance Company of the Tesco Distribution Unit, acquired on 16 August 2011. The facility was arranged by Laxfield Capital. The company paid supermarket giant Tesco £22.9m for the unit,
Read moreSector movers: Morrison pulls retailers higher ahead of results
6th Sep 2011 15:29
The food and drug retailers were on the way up, with FTSE 100 supermarket giants Morrison and Tesco among the high risers in the sector. Shares in fast growing supermarket chain Morrisons were 1.82% ahead at 290.3p by 15:46, ahead of the release of its interim results on Thursday. Broker Nomura Se
Read moreLondon close: Strong finish to bad month
31st Aug 2011 16:39
The top share index finished the worst month since the financial crisis broke out in late 2008 with strong gains as strong economic data in the US whetted investors' appetite for battered shares. The purchasing managers' index, which measures industrial sentiment for the Chicago area, came in ahead
Read more