Monday broker round-up
30th Mar 2015 18:40
Carnival: Numis upgrades to add with target price of 3,600p, Credit Suisse keeps at outperform, while Jefferies stays at underperform with 2,300p target. Barclays: JP Morgan Cazenove reiterates overweight. WPP: UBS reiterates buy, ups target to 1,700p from 1,500p. Marks&Spencer: Credit Suisse impr
Read moreBroker tips: M&S, Carnival, UK grocers
30th Mar 2015 11:39
Societe Generale has lifted its target price for Marks & Spencer from 492p to 524p but maintained a 'hold' rating on the high street retailer, saying it sees little upside from current levels. Ahead of trading update on Thursday, the broker said it no longer reckons M&S will produce a meaningful rec
Read moreGoldman downgrades Morrisons as headwinds persist for UK grocers
30th Mar 2015 09:10
Structural headwinds are persisting for UK grocers, with low inflation and falling calorie intake presenting a problem across the supermarket industry, according to Goldman Sachs. The bank downgraded its recommendation on Morrisons to 'neutral' on Monday, saying the stock has now reached its target
Read moreFTSE 100 movers: TUI soars on strong first half results, supermarkets lower
25th Mar 2015 13:54
TUI topped the risers after the group's first half trading update had surpassed last year's trading figures. The group's full year guidance of underlying operating profit growth of 10% to 15% was reiterated, based on the strength of current trading, as online bookings for hotel resorts and cruises s
Read moreFTSE 100 movers: ABF hit by euro weakness, Centrica lower on election risk
24th Mar 2015 14:14
Primark owner Associated British Foods tripped lower after Swiss bank Credit Suisse lowered its earnings forecasts for the company citing euro weakness. "AB Foods doesn't usually feature in our regular FX updates on the sector, but given the severity of the euro's demise it should. For ABF the impac
Read moreTesco staring at multiple lawsuits over accounting anomalies
24th Mar 2015 09:39
UK supermarket leader Tesco is facing up to the possibility of concerted legal action over its £263 million profit mis-statement. US law firm Scott & Scott is funding a group calling itself Tesco Shareholder Claims Ltd (TSC) to seek compensation from the supermarket chain after its profit mis-statem
Read moreTesco senior director Patrick Cescau steps down
23rd Mar 2015 16:30
A senior director at Tesco has announced on Monday he will step down from the board next month. Patrick Cescau, who led the appointment of the new chairman John Allan and wider boardroom overhaul at the company, is the fifth non-executive director announcing his departure from the supermarket this y
Read moreLondon open: FTSE 100 inches up on growing optimism over Greek deal
20th Mar 2015 09:11
London's leading FTSE 100 benchmark index posted mild gains on Friday amid renewed optimism from talks between Greece's new government and EU creditors in Brussels. The Greek government is now expected to present its reforms in the next days after wrangling with EU leaders who will then decide on th
Read moreTesco completes property swap with British Land
20th Mar 2015 08:17
Supermarket group Tesco has swapped ownership of a number of stores and retail parks with commercial real estate giant British Land in a deal worth £733m. Tesco has agreed to take back 21 stores that were part of a joint venture agreement with British Land and were subject to RPI-indexed rent increa
Read moreWPP interest in buying Tesco's data arm is logically a compelling deal - Bernstein
18th Mar 2015 13:51
Advertising titan WPP's interest in buying Tesco's data arm Dunnhumby is by logic, a compelling opportunity, said brokerage firm Bernstein. The broker on Wednesday reacted to WPP's confirmation of interest in Tesco's data business on Tuesday when WPP boss Sir Martin Sorrell spoke at the Media & Tele
Read moreLondon close: Energy stocks lift markets ahead of Budget, as investors await Fed
17th Mar 2015 16:32
After dipping into the red around midday, UK stocks rallied into the close with the FTSE 100 finishing 0.5% higher on the back of decent gains in the oil sector ahead of Wednesday's Budget statement. Rumours about potential tax breaks for North Sea oil and gas producers were providing energy stocks
Read moreFTSE 100 movers: CRH lower on Holcim rejection, miners and energy stocks higher
17th Mar 2015 12:39
Building materials group CRH was extending losses after Holcim on Monday rejected the terms of its proposed tie-up with Lafarge. CRH is set to snap up €6.5bn of assets from the two European cements companies when they merge. Tesco shares were in the red, reversing from Monday, alongside Morrison, as
Read moreLondon close: Stocks jump on central bank stimulus
16th Mar 2015 16:45
Strong gains from in the retail sector outweighed falls from energy stocks on Monday, as UK equities recovered strongly after their worst weekly performance so far this year. The FTSE 100 finished the session up 0.94% at 6,804.08 after dropping 2.5% last week. Despite the strong gains, oil and gas
Read moreSector movers: Tesco and Sainsbury on shopping lists as grocery stocks rise
16th Mar 2015 14:56
Supermarket stocks were the best performers in London on Monday as speculation about Tesco's data-analysis unit helped shares in the UK's largest retailer bounce, while Sainsbury rose ahead of a trading update the following day. According to Bloomberg this weekend, advertising giant WPP has made an
Read moreFTSE 100 movers: Retailers dominate risers, CRH lower on rejected merger
16th Mar 2015 14:08
Tesco led the FTSE 100 risers on reports that advertising and marketing giant WPP Group could potentially buy a majority stake in the supermarket's consumer behaviour tracker Dunnhumby. The business is valued at around £2bn and would offer WPP with an insight into UK shopping habits, the Sunday Tele
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