London open: Steady start for Footsie
16th Jun 2009 08:39
London's blue have made modest progress despite a tough day on Wall St yesterday with good figures from Tesco giving a boost. Property group's British Land and Hammerson are the best performers this morning, but it is Tesco's figures that catch the eye. Tesco's like-for-like sales growth came in a
Read moreLondon pre-open: Flat start in store
16th Jun 2009 07:41
The UK market is set to start little changed Tuesday as most of last night's gloom on Wall Street had already been felt by the time London closed yesterday. There's bound to be heavy focus on Britain's biggest supermarket chain Tesco following its latest sales update. UK like-for-like (LFL) sales
Read moreTesco LFL sales at top end of expectations
16th Jun 2009 07:03
UK like-for-like (LFL) sales growth at Britain’s leading supermarket chain, Tesco, came in at the top end of expectations, helped by a resumption of growth in non-food sales. Excluding petrol and VAT, LFL sales in the UK in the 13 weeks to the end of May rose 4.3% compared to a year earlier. Analys
Read moreTuesday preview: Tesco, Whitbread, Halma
15th Jun 2009 17:30
The UK's leading retailer, Tesco will release first quarter sales figures on Tuesday that will dwarf those of its rivals. As ever, the market will focus on like-for-like (LFL) sales, and these are expected to pale in comparison with sector up-and-comer Wm. Morrison, which earlier this month announce
Read moreBroker tips: Tesco, Punch Taverns, Lonmin
15th Jun 2009 13:32
With a trading statement from Tesco expected tomorrow, JP Morgan has taken the opportunity to restate worries about the performance of the company's core UK grocery business. With Tesco's rivals catching up on the UK's number one retailer JP Morgan has reiterated its 'underweight' rating and 300p p
Read moreBroker snap: Tesco banking arm a bright spot
15th Jun 2009 13:31
With a trading statement from Tesco expected tomorrow, JP Morgan has taken the opportunity to restate worries about the performance of the company's core UK grocery business. The retailer is expected to show an improvement in like for like (LFL) sales but nothing like the sort of growth rates seen
Read moreSunday newspaper round-up: Lloyds, Addax Petroleum, Friends Provident
14th Jun 2009 09:56
Lloyds Banking will lose an estimated £450m on Admiral Taverns, the pub giant, in what is believed to be one of the biggest write-offs it will be forced to take on a single investment. The group's Bank of Scotland arm had lent more than £850m to Admiral, owner of more than 2,000 pubs, to finance a
Read moreWeek Ahead: Tesco, Halma, Whitbread
12th Jun 2009 11:44
Supermarket titan Tesco gives a trading update on Tuesday and the expectations are for the market leader to again show like-for-like (LFL) sales growth that pales in comparison with sector up-and-comer Wm. Morrison, which last week announced a 9.2% year-on-year increase in LFL sales in the 13 weeks
Read moreSunday tips round-up: Wood, Tesco, Air Partner
7th Jun 2009 13:52
Oil services group Wood raised its 2008 dividend - and current consensus forecasts indicate a further uplift is likely in 2009. The shares are yielding just 1.9%, so there is still plenty of scope for the company to increase its payout, as the dividend is more than 4 times covered by earnings. The
Read moreLondon close: Rio bombshell pulls back Footsie
4th Jun 2009 17:03
Rio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreLondon afternoon: Rio dives on Chinalco rumours
4th Jun 2009 14:27
Disappointment with the Bank of England's decision not to expand its quantitative easing programme prompted a downturn in the market, wiping out the morning's gains. London's blue-chip index is also struggling with the burden of a weak mining sector, which has moved further into the red after rumou
Read moreSector movers: Chemical firm news sparks adverse reaction
4th Jun 2009 12:19
Two news items from chemicals companies have been given the thumbs down by investors. Speciality chemicals firm Johnson Matthey, which refines platinum for catalytic converters, is lower after it saw profits for the year fall 5%. It also warned thatinterim operating profit in the new year will be l
Read moreLondon midday: Financials lead rally
4th Jun 2009 12:03
The Bank of England's interest rate decision was every bit the non-event economists had been predicting, with the key lending rate left unchanged at 0.25% while no further changes to the quantitative easing programme have been made. Equities remain slightly firmer, with financials recovering some o
Read moreSunday newspaper round-up: General Motors, Vauxhall/Opel, BSkyB
31st May 2009 10:25
General Motors, once the largest company in the world, is expected to file for bankruptcy in a New York court tomorrow. Executives and politicians on both sides of the Atlantic are spending the weekend finalising details ahead of the historic capitulation that comes after months of talks and billion
Read moreWednesday newspaper round-up: UK mulls Vauxhall bail-out
27th May 2009 06:12
Britain has intervened in the political manoeuvring over the future of Opel/Vauxhall, explicitly linking its financial support for the spin-off of General Motors' European operations to the future of two UK car plants in Luton and Ellesmere Port, reports the FT. Lord Mandelson, business secretary,
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