Broker snap: Tesco's scope for UK growth underrated
28th Jan 2011 10:21
Nomura says that while Tesco's international operations are widely acknowledged as under-appreciated, the same can be said of its position in the domestic market as the retailing giant has the headroom to double the number of its UK compact hypermarkets. Analyst Nick Coulter says that Tesco has sco
Read moreWhitbread seats Kingfisher chief on board
27th Jan 2011 17:30
Hotel and restaurant owner Whitbread has brought in the boss of Kingfisher as a non-executive director to replace Philip Clarke who's leaving to run Tesco. Ian Cheshire joins the board of the Costa Coffee and Premier Inn firm at the beginning of February, a month before Clarke takes over from Sir T
Read moreWednesday newspaper round-up: Banks, Inflation, Tesco...
19th Jan 2011 06:34
Sir John Vickers will use a speech on Saturday to make clear that big banks are mistaken if they believe his government-appointed Commission on Banking will leave them intact. In a sign that he is determined to tackle the "too big to fail" agenda, Sir John is expected to outline a range of ways in
Read moreGovernment's low-cost alcohol initiative lacks bottle
18th Jan 2011 14:24
The coalition government is set to announce new measures on Tuesday designed to cut back on the practice of retailers offering deep discounts on alcoholic drinks. Though the new proposals will not prevent shops from selling alcoholic drinks as "loss leaders", it is understood that the government wi
Read moreLondon close: Footsie scuppered by Tesco
13th Jan 2011 16:51
London struggled all day after a grim performance by supermarket Tesco and disappointing US unemployment data in the afternoon. The Bank of England's decision to leave interest rates at 0.5% and the asset purchase programme unchanged was as expected. US shares fell back, with the Dow down 14 point
Read moreLondon afternoon: Footsie extends losses
13th Jan 2011 15:38
A weak start on Wall Street and grim performance by supermarket Tesco is keeping London firmly in the red Thursday. Disappointing weekly jobs data in the US scuppered any chance UK blue chips had of turning positive, while the Bank of England's decision to leave interest rates at 0.5% and the asset
Read moreSector movers: Retailers mixed after festive updates
13th Jan 2011 15:32
General retailers are performing well Thursday led by computer games specialist GAME. Shares are on the rise as it retained its guidance over full year profits, despite revealing a 4.1% decline in Christmas sales. Group sales for the 49 weeks to 8 January declined by 7.7%, with sales in the UK and I
Read moreFTSE 100 movers: Motor insurers on the up
13th Jan 2011 13:31
A number of insurers are higher after they agreed with the OFT to limit the motor-related information they swap. RBS and Aviva were directly involved in the agreement. Admiral has also risen. Bank of America Merrill Lynch has upgraded IMI from neutral to buy. The same broker downgraded British
Read moreBroker tips: Tesco, Provident Financial, Big Yellow
13th Jan 2011 13:15
Even though Tesco reported subdued sales in the UK, Nomura is pleased with the supermarket giant's international performance as it showed impressive growth. Like for like (LFL) sales in the UK for the six weeks to 8 January were up 0.6%, against expectations of flat to +2%. Tesco posted another str
Read moreBroker snap: Tesco overseas better than UK
13th Jan 2011 12:11
Even though Tesco reported subdued sales in the UK, Nomura is pleased with the supermarket giant's international performance as it showed impressive growth. Like for like (LFL) sales in the UK for the six weeks to 8 January were up 0.6%, against expectations of flat to +2%. The Japanese broker said
Read moreLondon midday: Shares little changed
13th Jan 2011 12:01
Today's stream of updates from the retail sector has failed to give the top share index much of a jolt in either direction. The Bank of England left interest rates at 0.5% and the asset purchase programme unchanged, as expected. Tesco falls after the snow and ice meant UK like for like sales were
Read moreLondon open: Retailers move both ways after updates
13th Jan 2011 08:31
The top share index is little changed in early dealings though there are some notable movers in both directions, particularly in the retail sector. Tesco falls after the snow and ice meant UK like for like sales were weaker than expected and lagged rivals. Like for like sales in the UK for the six
Read moreLondon pre-open: Flat start expected
13th Jan 2011 07:36
Not much is expected to change in early deals here despite gains in the US overnight and the Far East this morning. Markets worldwide have benefited from more positive noises coming out of Europe the past few days, with news of Portugal's successful bond auction yesterday well-received. Tesco's in
Read moreTesco blames snow for UK shortfall
13th Jan 2011 06:59
Tesco lagged well behind rivals over Christmas, blaming much weaker than expected like for like sales growth on December's miserable weather. Like for like sales in the UK for the six weeks to 8 January were up just 0.6% - less than half the figure analysts had predicted - and that includes about
Read moreThursday preview: Tesco, Balfour Beatty, BoE rate decision
12th Jan 2011 16:01
There will be no let up on Thursday from the focus on retailers with Tesco, Home Retail, Halfords, Dixons, Game and cash and carry group Booker set to report. Supermarket giant Tesco is forecast to report like for like (LFL) sales growth of 1.5%, excluding fuel and value added tax (VAT), in the fin
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