Broker snap: Mixed views at Tesco
19th Apr 2011 11:48
Panmure Gordon says that while Tesco's 2010 results were slightly below par - driving 5% downgrades to earnings - it sees potential to for a better performance. Pre-tax profits came in at £3.54bn, missing forecasts of £3.68bn, with UK profits underperforming by £60m and the US by £24m. "The headli
Read moreLondon open: Shares in partial recovery
19th Apr 2011 08:22
The top share index has won back some of yesterday's heavy losses, with company updates tempting buyers. However, Tesco is lower 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 t
Read moreLondon pre-open: Rebound in prospect
19th Apr 2011 07:48
Encouraged by the afternoon recovery yesterday on Wall Street, London is set to open firmer and claw back some of yesterday's heavy losses. The FTSE 100 is expected to open around 30 points higher and crawl back above the 5,900 level. Tesco's new chief executive Philip Clarke delivered profits and
Read moreTesco posts strong profit rise
19th Apr 2011 07:10
Tesco's new chief executive Philip Clarke delivered profits and sales that were ahead of expectations as he unveiled the supermarket giant's results for the year to 26 February. Pre-tax profits climbed by 11.3% from the same period a year ago to £3.53bn, on sales that climbed by 8.1% to £67.57bn. A
Read moreTuesday preview: Tesco, Burberry, Redrow
18th Apr 2011 18:07
Supermarket giant Tesco brings out results for the year to 27 February on Tuesday, the first set of results delivered by new boss Philip Clarke. Sam Hart, of broker Charles Stanley, thinks the company will make a profit before tax of £3.5bn, up from £3.18bn the year before, on sales of £62.5bn, up
Read moreWeek Ahead: BoE minutes, Reckitt Benckiser, Tesco
15th Apr 2011 12:01
In a week shortened by the Easter break, the big event is likely to be the release on Wednesday of the minutes of the March meeting of the Monetary Policy Committee (MPC), the team that determines the Bank of England's interest rate policy. The inflation trend finally headed down in March, a develo
Read moreBritish Land and Tesco extend JV
12th Apr 2011 08:20
The Tesco British Land Property Partnership, a 50:50 joint venture between property company British Land and retailer Tesco, has refinanced its Beaumont Leys Shopping Centre in Leicester. The new £60m five year term loan facility was used to repay the existing bank loan on its maturity and return f
Read moreLondon close: M&S leads FTSE 100 higher
6th Apr 2011 16:47
London's leading share index finished with good gains Wednesday, with high street favourite Marks & Spencer the star of the show. Brokers have been queuing up today to praise the results from the bellwether of the UK retail sector after it delivered a forecast busting trading update. The company
Read moreLondon afternoon: M&S marches higher
6th Apr 2011 14:56
Brokers have been queuing up today to praise the results from Marks & Spencer after the bellwether of the UK retail sector delivered a forecast busting trading update. The high street stalwart saw a sharp drop in like-for-like sales of clothes and other non-food items in the 13 weeks to 2 April, t
Read moreLondon midday: FTSE 100 adds to gains
6th Apr 2011 12:19
Shares have built on their early gains with the retail sector still in the driving seat. Economic news is also influencing traders. Industrial production in the United Kingdom fell by 1.2% in February, according to data published by the Office of National Statistics (ONS). The figures may make Bank
Read moreLondon open: Retail boost for FTSE 100
6th Apr 2011 08:08
Stocks have edged higher in early dealings, with the retail sector in focus following quarterly sales figures from Marks & Spencer that were not as bad as expected. High street stalwart M&S saw a sharp drop in like-for-like sales of clothes and other non-food items in the 13 weeks to 2 April, thoug
Read moreInnovation Group wins Tesco car sale gig
4th Apr 2011 07:06
Innovation Group, which provides business process outsourcing and software to insurance, car and property industries has been selected by Tesco to assist with the supermarket giant's new online car sales service. Tesco Cars was launched today by Tesco. Innovation will provide outsourced maintenance
Read moreSunday newspaper round-up: NHS reforms, Japanese car firms ...
3rd Apr 2011 18:10
Prime Minister David Cameron is drawing up key changes to the flagship Health and Social Care Bill which will see his reorganisation of the National Health Service (NHS) watered down. As the Sunday Telegraph explains, Cameron´s new approach may see a moderation in the pace at which market forces a
Read moreWednesday newspaper round-up: North Sea oil, Opec, supermarkets
30th Mar 2011 06:06
The industry revolt over George Osborne's North Sea tax raid intensified yesterday as a leading oil company warned that £6.25bn of investment in two fields was now under threat. Norway's Statoil said that it was freezing investment decisions on the Mariner and Bressay fields as it reviewed its spend
Read moreLondon afternoon: Housebuilders get Budget boost
23rd Mar 2011 15:00
It would appear that the UK Budget was far from a blockbuster as the market has reacted phlegmatically to the Chancellor's big day. The headline grabbing move was the commitment to effectively abolish National Insurance and push up income tax to compensate, but this will not take effect for some t
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