Tesco agrees £514m sale & leaseback deal
5th Oct 2009 16:05
Supermarket giant Tesco announced a new sale and leaseback deal involving property assets valued at £514m in the latest phase of its ongoing programme to release value from its UK property portfolio. The deal will be structured as a 50-50 joint venture with an unnamed UK pension fund. The portf
Read moreLondon afternoon: Footsie eases into the red
5th Oct 2009 13:45
The Footsie dipped into the red over the lunch-time session but it was a very shallow dip, with leading shares mixed and mostly sticking close to overnight levels. Life insurer Aviva is the heaviest faller in the FTSE 100 after it confirmed it is to sell a minority stake in its Dutch insurance bus
Read moreLondon midday: Shares still sluggish
5th Oct 2009 12:13
Equities are in sluggish mood on the first day of trading this week and the leading share index sits just below the 5,000 point level. Life insurer Aviva is the heaviest faller in the FTSE 100 after it confirmed it is to sell a minority stake in its Dutch insurance business Delta Lloyd through a fl
Read moreSunday newspaper round-up: BAE Systems, Aviva, Lloyds Banking
4th Oct 2009 10:09
Directors of BAE Systems rejected a £300m settlement of a Serious Fraud Office investigation after receiving advice they would leave themselves open to civil lawsuits for a misuse of shareholders' funds. The offer, made by the SFO in recent weeks, came after lengthy talks over a plea bargain deal t
Read moreLondon close: Stocks finish down
2nd Oct 2009 16:33
London's leading shares closed in the red but were off earlier lows as the US recovered somewhat after a poor start. A weaker than expected jobs report had pushed US stocks deep in the red, though by midday the markets had retraced some of the losses. Over here, there was good news for home owners
Read moreLondon afternoon: US jobs data sinks Footsie
2nd Oct 2009 14:05
Footsie has tumbled further below the 5,000 level after a disappointing read on the monthly US jobs numbers. US non-farm payrolls fell a worse than expected 263,000 in September, up from a downwardly revised 201,000 the month before, and compared with the 180,000 expected by economists. The unemp
Read moreWeek Ahead: Tesco, Rank, BoE rate decision
2nd Oct 2009 13:18
UK supermarket giant Tesco issues interim results on Tuesday which will be complicated by the inclusion for the first time of Tesco Personal Finance as a consolidated entity. Broker Charles Stanley is forecasting profit before tax of £1,450m on sales of £28,250m, versus comparative figures from a y
Read moreBroker tips: Supermarkets, Inchcape, Dunelm
2nd Oct 2009 13:14
Food price deflation is about to put a dent in the earnings of the major UK supermarkets if the experience of their US counterparts is anything to go by, reckons Citigroup. The US bank has slapped sell recommendations on Tesco, Sainsbury and Morrisons. Citi said high hopes at the beginning of the y
Read moreBroker snap: Supermarkets to be hit by food price deflation
2nd Oct 2009 12:51
Food price deflation is about to put a dent in the earnings of the major UK supermarkets if the experience of their US counterparts is anything to go by, reckons Citigroup. The US bank has slapped sell recommendations on Tesco, Sainsbury and Morrisons. Citi said high hopes at the beginning of the y
Read moreLondon midday: Equities nervously lower
2nd Oct 2009 12:05
The Footsie dipped below the 5,000 level this morning as it followed Wall Street lower in the wake of patchy US economic data yesterday. Over here, there was good news for home owners as UK house prices rose for the fifth month in a row in September, according to the Nationwide Building Society. Th
Read moreGrocery store competition tests to start
2nd Oct 2009 07:20
The Competition Commission has recommended local authorities start competition tests in planning applications for new grocery stores after making just one change following an appeal by supermarket giant Tesco. The Commission said that following Tesco's objection, which was upheld by the Competition
Read moreTuesday newspaper round-up: Cadbury, G20, Royal Bank of Scotland
22nd Sep 2009 06:16
Cadbury has approached the UK Takeover Panel to ask Kraft to "put up or shut up" on the unsolicited £10.2bn takeover offer from the US food group three weeks ago. Cadbury approached the panel on Monday to ask Kraft either to make a formal takeover proposal or walk away for six months, said people c
Read moreLondon close: Footsie rebounds past 5,000
11th Sep 2009 16:53
Footsie went into the weekend with the 5,000 point level in its rear-view mirror as miners advanced. Silver miner Fresnillo, copper group Antofagasta and platinum specialist Lonmin were among the best performers. Hedge fund giant Man Group also went well helped by the rising markets. British Airwa
Read moreLondon afternoon: Blue chips power on
11th Sep 2009 14:16
Footsie has had another good day with demand for the miners again providing the momentum. Silver miner Fresnillo, copper group Antofagasta and platinum specialist Lonmin are among the best performers. Hedge fund giant Man Group is also going well helped by the rising markets. British Airways conti
Read moreLondon midday: Footsie stays ahead
11th Sep 2009 12:08
Footsie remains on the front foot, with miners still in the driving seat. Silver miner Fresnillo, copper group Antofagasta and platinum specialist Lonmin are among the best performers today. British Airways continues its recent ascent. The airline's shares are up again today making a near 20% rise
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