London open: Stocks slip after strong start, Tesco gains despite weak results
22nd Apr 2015 08:53
After a brief stint in positive territory, UK stock markets dropped on Wednesday morning as the FTSE 100 came close to a record high, despite a surprisingly positive reaction to Tesco's worse-than-expected annual results. The FTSE 100, which touched a high of 7,092.34 early on, had dropped 0.58% to
Read moreLondon pre-open: UK stocks to track Japanese markets higher
22nd Apr 2015 07:44
UK stocks are expected to edge higher on Wednesday morning after a strong performance in Asian trading overnight. City sources predict the FTSE 100 will open just four points higher than Tuesday's close of 7,062.93. The index is continuing to move closer to tis all-time closing high of 7,096.78 reac
Read moreTesco full year results reveal record £6.4bn loss
22nd Apr 2015 07:15
Full-year results from Tesco showed a larger than expected pre-tax loss of £6.4bn - the biggest in retail history - as well as a ravaged balance sheet as chief executive Dave Lewis looked to "draw a line under the past". Traders and analysts had predicted a £5bn loss at the worse end of expectations
Read moreWednesday preview: Tesco expected to report annual loss of up to £5bn
21st Apr 2015 15:13
Tesco is expected to report an annual loss of up to £5bn on Wednesday following an accountancy scandal and amid fierce competition between the UK's leading supermarkets. If so, it would mark the worst performance in the 96-year history of the grocer. The company had a rocky past year with the discov
Read moreTuesday broker round-up
21st Apr 2015 13:18
Tullow Oil: Deutsche Bank reiterates hold and keeps target price at 370p. Tesco: Citi reiterates neutral and 235 target price. BHP Billiton: Barclays reiterates overweight and lifts target to 3,500p from 3,300p. Rio Tinto: Barclays downgrades to equalweight and lower target to 2,850p from 3,350p.
Read moreUK supermarket sector to face major grocery pricing probe by CMA
21st Apr 2015 10:05
An investigation has been launched into the supermarket sector by the UK competition regulator after a "super-complaint" from consumer organisation Which? due to the industry's "misleading and opaque pricing practices". The Competition and Markets Authority will begin a probe of the grocery sector's
Read moreTuesday tips round-up: UK supermarkets, Lloyds
21st Apr 2015 08:19
Do non-cash impairment charges matter? What if they run into the billions of pounds? After all, they all they can be dismissed as one-offs. Yet they do matter. Analysts at Deutsche Bank estimate Tesco could unveil a 15% - or 3bn pounds - writedown on the value of its propert assets. The value of pop
Read moreCiti ups target for Tesco on sector re-rating
21st Apr 2015 07:44
On Wednesday morning analysts at Citi expect Tesco will announce a fiscal year trading profit just below the company-compiled consensus forecast, despite which they have upped their target price on the shares. The full-year trading profit is forecast to come in at 1,395m pounds, in comparison to the
Read moreMonday newspaper round-up: Greece, China, Deutsche Bank
20th Apr 2015 06:49
ECB president Mario Draghi has said that while a potential Grexit would be damaging to the Eurozone, the currency bloc is "no longer vulnerable to the immediate chain-reaction seen in earlier phases of the debt crisis", writes The Telegraph. The decision by the People's Bank of China to cut the rese
Read moreSunday newspaper round-up: Lloyds, HSBC, Tesco, Moneysupermarket
19th Apr 2015 16:45
Lloyds Banking Group is facing a legal attack over its calamitous takeover of HBOS in 2008. A class action lawsuit, bringing together more than 6,000 investors that owned shares at the time, has been planned to force the company to release emails and other documents dating back to the deal, "to find
Read moreFTSE 100 movers: Rolls Royce among handful of risers as 95 stocks trade in the red
17th Apr 2015 13:32
Rolls Royce was one of a handful of stocks remaining in the green, buoyed by the announcement of its largest ever order win, which cemented its position as the favoured supplier of power plants for Airbus's signature A380 aircraft. The news marks the aircraft engine manufacturer's gain of over half
Read moreThursday broker round-up
16th Apr 2015 13:42
AstraZeneca: Societe Generale reiterates buy and 6,660p target price. Tesco: Nomura reiterates neutral and lowers target to 185p from 190p. Burberry: UBS reiterates neutral stance and lifts target to 1,800p from 1,650p. Royal Dutch Shell: Barclays reiterates overweight. Persimmon: Shore Capital r
Read moreTuesday broker round-up
14th Apr 2015 17:12
Marks&Spencer: UBS reiterates buy and lifts target price to 625p from 590p. HSBC: Credit Suisse reiterates underweight stance and Investec its recommendation to sell. Barclays: Credit Suisse reiterates neutral and 250p target. Tesco: Deutsche reiterates buy and 275p target price. Royal Dutch Shel
Read moreLondon close: Stocks retreat from record with investors nervous ahead of busy week
13th Apr 2015 16:29
Decent gains from financial stocks were outweighed by heavy falls in the mining sector on Monday as the UK equity market pulled back from a record high reached last week. Political uncertainty and nervousness ahead of busy week had prompted a bout of profit-taking in London, with the FTSE 100 down 0
Read moreAldi overtakes Waitrose as UK's 6th biggest grocer
8th Apr 2015 11:04
German discount retailer Aldi has leapfrogged Waitrose to become Britain's sixth-largest supermarket chain. According to data released on Wednesday by Kantar Worldpanel, Aldi sales rose 16.8% in the three months to 29 March, taking the group's market share to 5.3%, 0.2%% more than John Lewis Partner
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