Two more non-executive directors step down from Tesco
5th May 2015 16:00
On Tuesday Tesco announced two more non-executive directors were leaving the group. Ken Hanna and Stuart Chambers, who have been in the supermarket chain for six and five years respectively, said they will retire as directors after the company's annual meeting in June. Byron Grote, another non-exec
Read moreSunday newspaper round-up: Ladrokes, Tesco, Diageo
3rd May 2015 12:41
Live by the sword, die by the sword. In anticipation of a Labour victory at the next general election, hedge funds appear to have ramped up their bets against Ladbrokes. The proportion of the company's shares out of loan - a rough gauge for short-selling - hit 8.9%, its highest level since October 2
Read moreUBS optimistic on UK supermarkets, 'buys' Tesco, Sainsbury and 'sells' Morrisons
30th Apr 2015 13:40
Rather than fighting on price, UBS declared in its 'initiation of coverage' on the European food retail sector after its Evidence Lab undertook a large consumer survey in the UK, "the future is about differentiation". Overall, the earnings outlook for the European food retailers is "better than it w
Read moreFTSE 100 movers: Shire surges on earnings growth, RBS hit by weak revenues
30th Apr 2015 13:04
Shire surged after reporting that earnings rose 20% in the first quarter as sales at the Dublin-headquartered drug company overcame a sharp drop in its Intuniv attention deficit disorder drug and dollar headwinds. Royal Dutch Shell was trading higher after revealing a better-than-expected 56% drop i
Read moreCharles Stanley downgrades Tesco to 'reduce'
29th Apr 2015 14:59
The income attractions for holding Tesco's stock have gone, according to Charles Stanley which downgraded its recommendation on the supermarket giant from 'hold' to 'reduce'. A poor performance in the UK, Asia and Europe resulted in a 58% collapse in operating profits to £1.39bn in the year ended Fe
Read moreFTSE 100 movers: HSBC soars on potential high street spin-off, house builders lower
27th Apr 2015 13:27
HSBC surged as reports emerged that it may spin-off its UK high street banking business, ahead of a review of its headquarters' location. Asia-facing bank Standard Chartered, also situated in London, rose on speculation it could follow suit with a move out of the capital. Prudential was making gain
Read moreTesco's valuation sparks divergent stances at Goldman Sachs and Bernstein
24th Apr 2015 14:52
There were contrasting opinions on Tesco's valuation between Wall Street heavyweights Sanford C Bernstein and Goldman Sachs after the UK supermarket group reported record losses this week. Looking at the 11% fall in Tesco's share price in recent weeks, you might think new holes had been found in the
Read moreFTSE 100 movers: Anglo American, utility stocks surge
23rd Apr 2015 13:30
Anglo American, owner of jeweler De Beers, surged on Thursday as the mining giant cut its forecast for annual diamond production in order to avoid overproduction in the weaker diamond market. United Utilities, SSE and Centrica was making gains as investors sought refuge in defensive utility stocks.
Read moreLondon close: Tesco leads the decline as hawkish BoE spooks markets
22nd Apr 2015 17:08
A record loss from the UK's largest retailer and hawkish comments from the Bank of England combined to push stocks in London lower on Wednesday. The FTSE 100 finished the session down 0.49% at 7,028.24, pulling back after rising to a high of 7,092.34 early on. The index came close to its intraday hi
Read moreSector movers: Supermarket stocks side-swiped as Tesco reports £6.4bn loss
22nd Apr 2015 14:36
The swift realisation that a £6.4bn annual loss was not something to be taken lightly saw Tesco's share price drop into the red by Wednesday afternoon, sending the UK food and drug retail sector to the bottom of the pile. The worst loss in the Tesco's 97-year history was initially warmly welcomed by
Read moreFTSE 100 movers: Rolls-Royce surges on new management, Tesco hit by worst losses in 97 years
22nd Apr 2015 13:27
Engine maker Rolls-Royce topped the risers after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings boss Warren East. UK timber and builders merchant Travis Perkins also gained after saying group sales were up 7.2% in the first quarter des
Read moreLondon midday: FTSE falls as Tesco erases gains and financial stocks weaken
22nd Apr 2015 12:11
Following a temporary foray into positive territory, UK stocks were firmly lower by Wednesday lunchtime as supermarket giant Tesco erased earlier gains after reporting an eye-watering £6.4bn annual loss. London's FTSE 100 was down 0.66% at 7,016.59 by midday, pulling back quickly after a brief stint
Read moreBroker tips: Tesco, StanChart, BT Group, Tate & Lyle
22nd Apr 2015 11:44
Record annual losses from Tesco were widely attacked by financial analysts and City traders but there was optimism that the results showed several hints of a turnaround. Deutsche Bank took an optimistic view: "While there are arguably a few more downward pressures than upward pressures, we don't exp
Read moreMarket overview: Boston Fed president takes prudent approach
22nd Apr 2015 09:40
1333: Market commentary has picked up on cautious remarks from the Boston Fed´s Rosengren regarding the possibility that interest rate hikes could be postponed - not the most likely scenario in his opinion. 1253: Analyst at Jefferies have lowered their view on shares of Hargreaves Lansdown to hold f
Read moreTesco's results savaged though some analysts see light at end of the tunnel
22nd Apr 2015 09:17
Record annual losses from Tesco were widely attacked by financial analysts and City traders but there was optimism that the results showed several hints of a turnaround. However in early trading the shares sprang more than 1% higher, with analysts suggesting either a bear-squeeze of previous short t
Read more