Business rates fall for Big 4 grocers but rise for London businesses
10th Oct 2016 16:39
(ShareCast News) - The government's recent business rates announcement has significantly reduced tax for UK supermarket chains even while raising them for businesses in the capital. The Big 4 supermarket chains Sainsbury's, Tesco, Morrisons and Asda could receive a £173m tax reduction on their large
Read moreSector movers: Tesco sets fresh 52-week high, defensives lag
5th Oct 2016 14:53
(ShareCast News) - An upbeat outlook for margins from Tesco boosted the wider sector gauge. The company's shares rocketed to their best levels since late-summer 2015 - setting a fresh 52-week in one fell swoop - after management reported that UK like-for-like (LFL) sales doubled to 0.6% and operatin
Read moreShoreCap reiterates 'hold' on Tesco after first half interims
5th Oct 2016 10:57
(ShareCast News) - Shore Capital reiterated a 'hold' rating and target price of 189p on Tesco on Wednesday after the supermarket reported its first half results. The company reported group sales grew 3.3% to £24.4bn and UK like-for-like sales improved to a 0.6% increase from the 0.3% rise the same p
Read moreTesco's Lewis sets out margin ambitions as interim sales growth doubles
5th Oct 2016 07:00
(ShareCast News) - Tesco reported much improved sales and operating profits in the first half of the year and set out ambitious plans for growing profit margins, though its pension deficit soared to a whopping £6bn. UK like-for-like (LFL) sales doubled to 0.6% and operating profits grew 38.4% to £51
Read moreWednesday preview: Tesco's first half to show benefits of turnaround
4th Oct 2016 12:58
(ShareCast News) - Tesco is expected to report a jump in first-half profits on Wednesday as the supermarket sees the benefits of its turnaround plan. However, analysts believe an increasing pension deficit is likely to offset a strong operational performance. Tesco is forecast to confirm its pension
Read moreMonday newspaper round-up: 2019 Brexit, Hammond preview, Deutsche Bank, Tesco
3rd Oct 2016 06:56
(ShareCast News) - Theresa May has set Britain on course to leave the EU by 2019 in her first major speech on Brexit, saying that the UK would become a "fully independent, sovereign" country in the clearest sign yet that she wants a clean break from Europe's single market. The prime minister told ch
Read moreSunday newspaper round-up: Brexit, Google, British retailers
2nd Oct 2016 17:43
(ShareCast News) - Theresa May accused Brexit opponents of 'insulting the intelligence of the British people' today as she said we will leave the EU by April 2019 at the latest. The Prime Minister also laid down the gauntlet to Brussels for the looming negotiations over the single market, making cle
Read moreSector movers: Hard Brexit concerns weigh on life insurers
26th Sep 2016 15:21
(ShareCast News) - Reports suggesting that Britain might be leaning towards a hard Brexit took their toll on the UK life insurance sector and weighed on cable in the process. Also over the weekend, reports also cited the Foreign Secretary as having indicated that an exit from the European Union migh
Read moreMonday broker round-up
26th Sep 2016 14:17
(ShareCast News) - N Brown: HSBC downgrades to hold with a target price of 205p. Kingfisher: UBS downgrades to neutral, 390p target. Morrison: Credit Suisse keeps at neutral with a 200p target. WPP: Jefferies downgrades to hold with a 1850p target. Wolseley: Exane BNP Paribas keeps at underperfor
Read moreMonday newspaper round-up: Hard Brexit, City worries, mobile claim, Tesco
26th Sep 2016 06:39
(ShareCast News) - Senior financiers are alarmed at growing political momentum behind a so-called "hard Brexit" that they fear will erode business confidence, trigger corporate departures and damage the City of London. Leading bankers who have held talks with government ministers have told the Finan
Read moreEx-Tesco executives plead not guilty to charges of accounting fraud
23rd Sep 2016 07:42
(ShareCast News) - Three of Tesco's former top managers pleaded not guilty to the charges of abuse of position and accounting fraud brought against them by the Serious Fraud Office. At a preliminary court hearing at Westminster magistrates' court, they were told they had been expected "to safeguard
Read moreFriday newspaper round-up: BoE, Brexit, Trade War
23rd Sep 2016 07:36
(ShareCast News) - Mark Carney has urged the government to take decisive action to lift the UK's moribund economy as he said that the central bank could do little to improve Britain's long-term prospects. Politicians need to make the running now by taking bold decisions on public spending and econom
Read moreTesco execs plead not guilty to fraud charges
22nd Sep 2016 14:35
(ShareCast News) - Three former Tesco executives plead not guilty to fraud charges as part of the Serious Fraud Office's investigation into a scandal which resulted in a £263m black hole in the supermarket giant's finances. Former managing director Chris Bush, finance director Carl Rogberg and comme
Read moreThursday broker round-up
22nd Sep 2016 13:35
(ShareCast News) - Dunelm: HSBC starts coverage at buy with a target price of 1000p. Brown N Group: UBS keeps at neutral, 190p target. Tesco: Barclays keeps at neutral with a 215p target. Associated British Foods: Credit Suisse reiterates outperform with a 3550p target. BBA Aviation: Barclays kee
Read moreTesco sales improving as Kantar finds evidence of supermarket growth
20th Sep 2016 08:04
(ShareCast News) - UK supermarket industry sales growth remained unchanged in recent weeks, according to data from Kantar Worldpanel, with Tesco enjoying its best performance for two and a half years. Sales across the grocery sector grew 0.3% in the three months to 11 September, Kantar found, the sa
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