Tesco survives share options revolt
3rd Jul 2009 13:50
Tesco, Britain's biggest retailer, narrowly survived a shareholder revolt over changes to its share option scheme. More than 40% of investors voted against the changes, which will extend the period in which leaving or retiring executives can exercise options, at Tesco's annual meeting in Glasgow.
Read moreFriday preview: Challengers get nearer to Tesco
2nd Jul 2009 16:13
Tesco's annual meeting may not be the usual back slapping and handshakes all round, as, for the first times in years, the competition now may poise a meaningful threat to the supermarket juggernaut. Sales growth this year has lagged Morrisons and Sainsbury's, prompting heavy discounts and a revamp
Read moreTesco said to eye Northern Rock bid
1st Jul 2009 10:51
Supermarket giant Tesco is said to be mulling a bid for Northern Rock as the Government tries to return the state-owned lender to the private sector before a general election. The Times is reporting that Tesco has shown 'provisional' interest in buying Northern Rock, while Richard Branson's Virgin
Read moreWednesday newspaper round-up: Tesco may bid for Northern Rock
1st Jul 2009 06:19
Tesco has emerged as a potential bidder for Northern Rock as the Government races to sell the state-owned lender before a general election, The Times has learnt. The supermarket chain has shown provisional interest in buying the bank nationalised as the credit crisis brought the financial system wi
Read moreSunday newspaper round-up: Lloyds Banking, Anglo American, Marston's
28th Jun 2009 10:45
Lord Davies, the former Standard Chartered chief and now Trade minister, has been offered the chairmanship of Lloyds Banking Group but will turn the job down. The peer's decision to decline the job will be a blow to John Kingman, head of UK Financial Investments (UKFI), the body which owns the Gove
Read moreLondon close: Late rally not enough
25th Jun 2009 17:01
A late rally by UK equities was not enough to prevent the blue-chip index closing in negative territory, largely as a result of weak miners, which were weighted down by softer metals prices. Lonmin, Vedanta, Rio Tinto and BHP Billiton were all stuck in the red. Elsewhere in the sector, Anglo Americ
Read moreTesco to beef up home and motor insurance offering
25th Jun 2009 17:00
Supermarket chain Tesco is pressing ahead with its plans to extend its presence in the personal finance market by hooking up with insurance company Fortis UK. The two companies will provide motor and household insurance, with Tesco taking greater control of pricing and the development of new produc
Read moreWednesday tips round-up: Tesco, Whitbread, Halma
17th Jun 2009 06:46
First-quarter results from supermarket group Tesco were very good but the shares are sitting at a prospective February 2010 multiple of just 12.2 times, a discount to its rivals. This discount is unwarranted. Shares in Tesco were first recommended at 329¾p in December. They remain a buy and are sti
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreFTSE 100 movers: Tesco gets warm reception
16th Jun 2009 15:57
Tesco has responded well to its latest trading update, though brokers were a little cautious. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter from 3.7% in the previous quarter, it still lags behind sector peers such as Wm Morrison and
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreBroker tips: Tesco, BT, Serco
16th Jun 2009 12:58
Broker Charles Stanley expects the market to leave its profit forecasts for Tesco broadly unchanged after the supermarket chain delivered an in-line trading update on Tuesday morning. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter fr
Read moreBroker snap: No surprises at Tesco
16th Jun 2009 12:56
Broker Charles Stanley expects the market to leave its profit forecasts for Tesco broadly unchanged after the supermarket chain delivered an in-line trading update on Tuesday morning. Although like-for-like sales growth in the UK heartland picked up, rising to 4.3% in the company's first quarter fr
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreSector movers: BT lifts telecoms
16th Jun 2009 11:32
Fixed line telecommunications has been given a boost with BT topping the risers after broker Morgan Stanley upgraded the stock to "overweight" and increased its price target. "We see a 3-4 year target for the shares of around 190 pence, but the market could get there far sooner if it sees evidence
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