Tesco interim operating profit more than halves
7th Oct 2015 07:38
(ShareCast News) - Supermarket retailer Tesco posted a 55% drop in first-half operating profit as discount retailers continue to take their toll, and warned the grocery market remained challenging. For the 26 weeks ended 29 August, operating profit before exceptional items fell to £354m from £779m,
Read moreWednesday preview: Tesco to report drop in first half earnings, no dividend, analysts say
6th Oct 2015 13:14
(ShareCast News) - Tesco reports its first half results on Wednesday with analysts expecting a drop in earnings and revenues amid a supermarket price war. Societe Generale predicts a 1.3% fall in first half like-for-like (LFL) sales to £29.86bn in the UK and the rest of Ireland (ROI) on the back of
Read moreFTSE 100 movers: Oil prices drive Shell and BP up; Glencore nearly back to Friday levels
1st Oct 2015 13:41
(ShareCast News) - The FTSE 100 was up 47.61 (0.79%) mid-afternoon Thursday to 6,109.22 London Stock Exchange Group led the risers after Barclays upgraded sharemarket organiser and transaction services provider Deutsche Boerse from underweight to overweight. Pearson was also a beneficiary of a posi
Read moreLondon close: Stocks buoyed by Glencore and Sainsbury's
30th Sep 2015 16:14
(ShareCast News) - The FTSE rose on Wednesday as a batch of negative economic data was offset by gains in supermarket stocks and a rebound in Glencore. Glencore dominated the FTSE 100 after saying it has taken proactive steps to position the mining company to withstand current market conditions incl
Read moreFTSE 100 movers: Sainsbury leads the pack; Glencore and Wolseley rebound
30th Sep 2015 13:48
(ShareCast News) - After a poor start to the week, the FTSE 100 rebounded to 6,031.13 mid-afternoon Wednesday, up 121.89 (2.06%) J Sainsbury led the pack after posting a positive second quarter trading statement. The supermarket giant said it expects full-year underlying pre-tax profits to be modera
Read moreLondon midday: Stocks gain despite downward revision of UK GDP
30th Sep 2015 11:09
(ShareCast News) - London stocks gained as investors shrugged off a downward revision to second quarter UK gross domestic product and a report showing the Eurozone entered deflation in September. UK GDP was unexpectedly revised lower to 2.4% year-on-year from the previous estimate of 2.6%, according
Read moreBernstein reiterates Tesco and Sainsbury's hold ratings
29th Sep 2015 16:08
(ShareCast News) - The supermarket industry had a boost thanks to Bernstein reiterating some of its ratings. The investment firm has reiterated its outperform ratings for UK supermarket chains Tesco and Sainsbury. It comes ahead of tomorrow's trading update for Sainsbury. It's the second lot of su
Read moreFTSE 100 movers: Glencore rebounds; Wolseley sinks lower
29th Sep 2015 14:30
(ShareCast News) - The FTSE 100 was down 40.21 points (0.67%) mid-afternoon to 5,918.65. After a dismal day on Monday, Glencore led the market risers after Citigroup and Bernstein both said the market had exaggerated concerns about the company's financial health. It's a big turnaround, after shares
Read moreSunday newspaper round-up: SAB Miller, Tesco, Wm Morrison
27th Sep 2015 16:25
(ShareCast News) - AB Inbev could table a £70bn bid for SAB Miller this week, firing the starting gun on the biggest-ever takeover of a British company. Over recent days the world's two biggest brewers have begun "friendly" talks, sources said. The discussions continued into yesterday, with Budweise
Read moreTesco 'close to ditching Dunnhumby sale plans'
27th Sep 2015 12:06
(ShareCast News) - Supermarket chain Tesco is reportedly on the verge of scrapping plans to sell Dunnhumby after failing to secure a buyer for the clubcard points business. Senior City sources told the Sunday Times that WPP, the most recent serious contender for the business, has been having trouble
Read moreTesco could scrap Dunnhumby sale - reports
22nd Sep 2015 15:24
(ShareCast News) - Tesco will decide this week whether to call off the sale of Dunnhumby after nearly all the bidders withdrew from the sale process. Dunnhumby is the supermarket's data arm which utilises data gathered from its Clubcard loyalty scheme. All but one bidder withdrew from the process a
Read moreFTSE 100 movers: Morrison and Marks lead retail rout
14th Sep 2015 16:15
(ShareCast News) - Despite some early gains, the FTSE 100 index closed in the red on Monday, finishing down 0.54% at 6,084.59. The index was led lower by Wm Morrison Supermarkets as its shares were sold down after HSBC slashed its forecasts for 2016-2018 by 20-30% apiece and maintained a 'reduce' ra
Read moreMonday newspaper round-up: Tesco, Migrants, Debt ratios
14th Sep 2015 07:18
(ShareCast News) - The entire board of Tesco has bought less than £350,000 of shares in the supermarket chain, and chief executive Dave Lewis has yet to buy any, despite being in charge for a year. The lack of share purchases by Lewis and Alan Stewart, the finance director, has raised eyebrows among
Read moreSunday newspaper round-up: RBS spin-off, Trinity Mirror acquisition, PR Newswire sale
13th Sep 2015 16:38
(ShareCast News) - Royal Bank of Scotland will begin marketing the initial public offer of its Williams & Glyn spin-off later this year ahead of a flotation expected in the second half of 2016. The Sunday Telegraph reported that, with Bank of America Merrill Lynch advising the lender on the process,
Read moreChallenger banks reportedly request extension to Funding for Lending scheme
11th Sep 2015 12:52
(ShareCast News) - Challenger banks have reportedly requested an extension to the government's flagship industry funding scheme during a meeting at which they expressed their anger over Chancellor George Osborne's plans for an 8% Corporate Tax surcharge on profits of more than £25m. According to Sky
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