FTSE 100 movers: Supermarket stocks pull back after strong surge
9th Jan 2015 13:47
Supermarket stocks were under pressure on Friday, with Tesco in particular pulling back after a 15% surge the previous session, following the announcement of its turnaround plan and resilient Christmas sales. Dampening Tesco's shares was the news that ratings agency Moody's had cut the UK grocer'
Read moreLondon midday: Weak UK production data dampens stocks ahead of US jobs report
9th Jan 2015 11:35
Disappointing UK economic data and nervousness ahead of a key labour-market report in the States sent London's FTSE 100 lower on Friday morning, as stocks pulled back after a surge the previous session. By around lunchtime, the Footsie was trading nearly 0.7% lower at 6,527 with weakness among super
Read moreLondon open: Markets slip ahead of US data, supermarkets and housebuilders fall
9th Jan 2015 09:06
UK stocks endured a subdued start on Friday morning following a huge jump the previous session as markets paused for breath ahead of the pivotal US jobs report. The FTSE 100 was down 0.2% at 6,554 early on, with supermarket stocks pulling back after a strong rally and housebuilders hit by some negat
Read moreTesco hit by Moody's downgrade to junk status
9th Jan 2015 08:58
Tesco's shares gave up some of Thursday's gains on Friday morning trading after credit rating agency Moody's cut the UK grocer's corporate debt to 'junk' overnight. The US-based ratings agency, the first of the three major rating agencies to act following the grocer's much better-than-expected Chris
Read moreLondon close: UK stocks at best levels this year as Tesco jumps 15%
8th Jan 2015 16:42
London's FTSE 100 surged by 2.3% on Thursday to close at its best level this year as a massive gain in the share price of heavyweight supermarket group Tesco gave fellow retailers a lift. Increased hopes for central-bank stimulus in Europe, a stabilisation of oil prices and improving economic data f
Read moreSector movers: Supermarket stocks surge as Tesco pleases with revival plans
8th Jan 2015 15:28
The food and drug retail sector was trading nearly 10% higher on Thursday as investors gave a warm welcome to revival plans at industry giant Tesco, which reported a less-than-expected fall in sales over the crucial Christmas period. Tesco's shares were up nearly 13% at 205.3p in afternoon trade aft
Read moreFTSE 100 movers: Tesco surges on turnaround plans, M&S hit by weak sales
8th Jan 2015 14:12
Tesco's shares surged nearly 14% after it said it would cut costs substantially next year, close 43 unprofitable stores and lower prices, as chief executive Dave Lewis attempts to turn around the struggling supermarket chain. The news came as the company unveiled a "broad-based improvement" in UK tr
Read moreLondon midday: ECB stimulus hope drives gains, Tesco jumps 10%
8th Jan 2015 11:52
UK stocks surged strongly on Thursday amid hopes for more central-bank stimulus in Europe, assisted by strong gains from supermarket heavyweight Tesco as investors welcomed its turnaround plan and resilient Christmas sales. London's FTSE 100 was trading 1.6% higher at 6,522 by midday. The announcem
Read moreBroker tips: Tesco, Persimmon, M&S, Interserve
8th Jan 2015 11:51
After an "unimaginatively bad 2014", things are starting to improve at supermarket giant Tesco after a much better-than-expected Christmas trading performance, according to analysts at Shore Capital. Shore retained its 'hold' recommendation for investors, but said that measures being taken by new ch
Read more"Glimmers of light" seen at Tesco but work still to do, brokers say
8th Jan 2015 09:19
After an "unimaginatively bad 2014", things are starting to improve at supermarket giant Tesco after a much better-than-expected Christmas trading performance, according to analysts at Shore Capital. Shore retained its 'hold' recommendation for investors, but said that measures being taken by new ch
Read moreLondon open: Tesco leads stock surge ahead of economic data, BoE decision
8th Jan 2015 08:45
Big gains from Tesco and a strong finish on Wall Street helped drive UK markets higher on Thursday morning, as investors awaited a flurry of economic data and a policy decision by the Bank of England (BoE). Heavyweight grocer Tesco was leading the risers early on after investors applauded the superm
Read moreTalkTalk acquires Tesco Broadband and Blinkbox
8th Jan 2015 07:40
Telecom group TalkTalk has acquired Tesco Broadband and the retailer's on-demand video service Blinkbox for an undisclosed amount. Tesco's decision to sell Blinkbox comes as no surprise, after the group chief executive, Dave Lewis, had identified the streaming service as one of the firm's expendable
Read moreLondon pre-open: Stocks set to jump early on, Tesco in focus
8th Jan 2015 07:35
UK stocks were set to jump on Thursday morning, following a strong finish on Wall Street the previous session, after a slight rebound in oil prices and minutes of the latest Federal Reserve meeting. City sources predict the FTSE 100 will open 70 points higher than Wednesday's close of 6,419.83. US
Read moreTesco to close stores and cut prices as turnaround plan unveiled, shares surge
8th Jan 2015 06:44
Tesco saw its share price surge on Thursday after the company announced it would cut costs, close 43 unprofitable stores, lower prices and move its head office, as part of chief executive Dave Lewis's plan to revive the struggling supermarket chain. The news came as the company unveiled a "broad-bas
Read moreSector movers: Grocers drop as investors try to gauge duration of price war
7th Jan 2015 14:33
Grocery giant Sainsbury on Wednesday unveiled better-than-expected numbers on like-for-like sales for the third quarter. Those dropped by 1.7%, considerably less than the 3.2% drop which analysts had plugged into their spread-sheets. As Shore Capital emphasised in a research note e-mailed to client
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