Tesco sales fall short of expectations
14th Jun 2011 07:07
Supermarket giant Tesco's like-for-like sales growth remained negative in the first quarter, although the result was an improvement on the previous three month period. In the 13 weeks to 28 May, Tesco's UK like-for-like sales excluding petrol and the impact of VAT were down by 0.1% from the same pe
Read moreTuesday preview: Tesco, Glencore, Carphone Warehouse
13th Jun 2011 17:37
Warm weather and a string of bank holidays recently has been good news for many consumer-facing companies lately and the broker Panmure Gordon expects supermarket giant Tesco to report a return to like-for-like (LFL) sales growth in the UK in the first quarter. "Food sales will have been helped by
Read moreWeek ahead: Tesco and Sainsbury's to post sales growth
10th Jun 2011 12:51
Warm weather and a string of bank holidays recently has been good news for many consumer-facing companies lately and the broker Panmure Gordon expects supermarket giant Tesco to report a return to like-for-like sales growth in the UK in the first quarter. "Food sales will have been helped by the de
Read moreSector movers: Insurers rise, retailers fall
7th Jun 2011 16:09
The life insurance sector is being boosted higher by the blue chips today, after Resolution announced a share repurchase. UK insurance buyout firm Resolution was the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' r
Read moreFTSE 100 movers: Insurers dominate the risers
7th Jun 2011 15:34
UK insurance buyout firm Resolution is the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' recommendation on the stock, saying that - given lower asset and debt leverage - "the Resolution business should be at a premi
Read moreThursday newspaper round-up: Glencore, Southern Cross, Morrisons
2nd Jun 2011 06:06
Newly listed commodities trader Glencore has been barred from borrowing from the European Investment Bank (EIB) because of "serious concerns" about how the company is run. The bank, the lending arm of the EU, yesterday said it had frozen all new loans to the Switzerland-based group which floated in
Read moreTuesday newspaper round-up: Morrisons, executive pay, Northern Ireland
31st May 2011 06:23
Morrisons is aggressively outbidding its rivals to secure new stores, particularly in the southern England, signalling the scale of its ambitions under chief executive Dalton Philips. The Bradford-based grocer is on a mission to grab property for both standard supermarkets and conveniences stores, w
Read moreTuesday newspaper round-up: eurozone, Sony, IMF
24th May 2011 06:04
Fears that the debt crisis is spreading across the eurozone hammered financial markets around the world yesterday. A wipeout for Spain's Socialists in regional elections over the weekend, coupled with fears of a political logjam in Italy, undermined investor confidence in governments' efforts to ste
Read moreWednesday newspaper round-up: BP, Tesco, Tchenguiz
18th May 2011 06:01
Investors have rounded on the BP chief executive Bob Dudley, architect of the "shambolic" Rosneft deal that finally collapsed yesterday, demanding that he carry out a fundamental strategic rethink. BP insisted yesterday that a deal with the Russian state-controlled company could still be revived and
Read moreTuesday newspaper round-up: Mervyn King, Tesco, BAE
3rd May 2011 06:11
High debt levels pose "massive" economic challenges that would be exacerbated by higher interest rates, the Governor of the Bank of England said. Speaking yesterday at the European Parliament in Brussels, Mervyn King warned that a rise in long-term interest rates would have "severe" consequences, sa
Read moreWednesday tips round-up: Pearson, Tesco, Speedy Hire
27th Apr 2011 08:01
Publisher Pearson's reliance on education is not without risk, as it is dependent on state budget decisions, it has proved lucrative for Pearson. Its latest bolt-on acquisition of Schoolnet reacts to the US government's increased focus on personalised, computer-based learning. The FT Group, the div
Read moreLondon close: FTSE 100 wins back some losses
19th Apr 2011 17:02
Shares staged a recovery after some heavy losses yesterday, though the gains were subdued by trading's close. Tesco fell even after new chief executive Philip Clarke delivered profits and sales that were in line with expectations as he unveiled the supermarket giant's results for the year to 26 Feb
Read moreSector movers: Burberry lifts personal goods sector
19th Apr 2011 14:10
The personal goods sector is the best performing sector of the day, lifted higher by luxury brand giant Burberry. The group said it profits for the financial year to March 31 to be at the top end of expectations after a strong performance in the final few months. Sector peer Supergroup is also fi
Read moreFTSE 100 movers: Burberry tops the risers
19th Apr 2011 13:48
Luxury fashion brand Burberry is the best performing blue chip after announcing that it expects profits for the financial year to March 31 to be at the top end of expectations after a strong performance in the final few months. Miners Fresnillo, Anglo American, Lonmin, Xstrata, BHP Billiton and Ve
Read moreLondon midday: Mixed reception for company updates
19th Apr 2011 12:00
Shares have remained steady after winning back some of yesterday's losses in early dealings, with shares moving in both directions after updates. Tesco is lower even after new chief executive Philip Clarke delivered profits and sales that were in line with expectations as he unveiled the supermarke
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