London close: Resource and utility stocks drag markets lower, data comes in weak
13th Mar 2015 16:45
UK stocks bounced off their lowest levels of the day by the close but still ended in the red as falling mining, energy and utility shares provided a drag. After touching a low of 6,713.50, London's FTSE 100 finished down 20.49 points (-0.3%) at 6,740.58, ending the week down 2.5%. Brent crude was t
Read moreFTSE 100 movers: Energy stocks and supermarkets trade lower
13th Mar 2015 13:28
Energy stocks declined on Friday, ahead of the Labour Party conference, during which Ed Miliband is expected to outline plans to cut energy prices if his party wins the General Election. SSE and British Gas owner Centrica were both trading lower. Supermarkets Tesco and Sainsbury were trading lower a
Read moreTesco, Sainsbury and Asda continue to lose market share, Nielsen shows
13th Mar 2015 11:04
Big supermarkets Tesco, Sainsbury and Asda have continued to lose market share, according to a survey of the UK's leading supermarkets from research firm Nielsen. Nielsen data showed Tesco's sales declined 1.1% to a 27.6% share of the market in the 12 weeks to the end of February, worse than recent
Read moreBarclays cautious on Sainsbury and Morrison
11th Mar 2015 16:39
Plucking nuggets from its in-depth analysis of free cash flow (FCF) of the food retail sector, Barclays equity research team has cast doubts on the resilience of earnings estimates at the UK supermarkets. As growth in food retail has eroded in the last 15 years, investors and companies have become m
Read moreTesco surges to strongest growth in 18 months as squeeze put on rivals, says Kantar
10th Mar 2015 09:20
Tesco has enjoyed its strongest performance in 18 months with sales up 1.1% in the past 12 weeks, as the industry price war created record levels of deflation, according to fresh data from Kantar Worldpanel. Increasing sales have helped Tesco put the brakes on its skidding market share, which is dow
Read moreMonday newspaper round-up: Euribor probe, Greece, Tesco
9th Mar 2015 06:50
Former traders from Barclays and Deutsche Bank will be interviewed by UK fraud investigators in an ongoing criminal probe into the alleged rigging of Euribor, writes the Financial Times. "The move raises the prospect for the banks that investigations into alleged manipulation of interbank rates will
Read moreHalfords set to announce former Monsoon boss as CEO
5th Mar 2015 11:44
British auto and parts dealer Halfords could be set to appoint retail businessman John Browett as its new chief executive after he left fashion retailer Monsoon last month. According to an equity sales analyst in London, Browett, who has held executive management positions at leading retailers, is t
Read moreTesco board member steps down
4th Mar 2015 10:29
Tesco's Gareth Bullock will retire from the main board of the embattled grocer effective 5 March. From 1 May 2015 he will be replaced by Byron Grote, who will bring with him extensive executive and non-executive financial and strategic experience, the company said in a statement. Bullock will retai
Read moreTesco loses two more directors as Garfield and Tammenoms step down
26th Feb 2015 11:34
Two more Tesco directors have decided to join chairman Sir Richard Broadbent in departing at the end of this week. The supermarket group revealed that Jacqueline Tammenoms, a six-year stalwart of the retailer's boardroom, had decided to step down at the end of the month. Simultanously, Liv Garfield
Read moreMorrisons names former Tesco Asia head David Potts as new CEO
25th Feb 2015 07:10
Big Four supermarket chain Wm Morrison has named the former head of Tesco's Asian business as its new chief executive officer (CEO). David Potts, who is said to have more than 40 years' experience in grocery retailing, is expected to join the company on 16 March. Potts replaces Dalton Philips who w
Read moreLondon close: UK stocks finish flat as markets pause at 15-year high
18th Feb 2015 16:29
Renewed optimism surrounding Greece gave market sentiment a boost on Wednesday, though stocks had erased gains by the close as investors took profits with the FTSE 100 near its all-time high. The Footsie finished the session down just 0.05 points at 6,898.08, retreating after hitting an intra-day hi
Read moreLondon midday: FTSE flat as UK stocks pause at 15-year high
18th Feb 2015 12:16
UK stocks had erased gains and were trading broadly flat by Wednesday lunchtime, though the FTSE 100 held just short of its all-time high on the back of hopes for Greece. The FTSE 100 was up just 0.04% at 6,900.77 by midday, having pulled back after reaching a high of 6,921.32 early on. The last ti
Read moreBroker tips: Tesco, Fresnillo, Coca-Cola HBC
18th Feb 2015 11:44
The appointment of Dixons Carphone chairman John Allan as the head of Tesco's board has been applauded by analysts at Shore Capital, who said it represented "another job completed in the repair of Tesco". The broker, which kept a 'hold' rating on the supermarket stock, said that Allan "has a disting
Read moreShore Capital welcomes new Tesco chairman as turnaround continues
18th Feb 2015 10:25
The appointment of Dixons Carphone chairman John Allan as the head of Tesco's board has been applauded by analysts at Shore Capital, who said it represented "another job completed in the repair of Tesco". The broker, which kept a 'hold' rating on the supermarket stock, said that Allan "has a disting
Read moreLondon open: Greek hopes send FTSE to 15-year high as stocks near record levels
18th Feb 2015 08:46
UK stocks were trading at a 15-year high on Wednesday morning, nearing record levels on the back of hopes that Greece will bow into international pressure and request a bailout extension. The FTSE 100 was up 0.2% at 6,913 in early deals. The last time the index has closed above this level was on 30
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