Tesco shareholders take legal action against food retailer
25th Nov 2014 11:04
Tesco shareholders decided to take legal action against the food retailer after the troubled giant declared a £263m hole found in profits. The action, conducted by Stewarts Law firm, will seek to establish that shareholders are entitled to compensation for losses caused by Tesco's alleged breaches o
Read moreTesco leads sales falls in the last three months, Nielsen says
21st Nov 2014 12:54
Ailing supermarket group Tesco came out at the wrong end of another set of sales data on the UK's food retailers on Friday. Tesco was the biggest sales faller of the 'big four' supermarkets in the 12 weeks to 8 November, dropping 4.2% versus the same period a year ago, according to figures from r
Read moreTesco may ditch PricewaterhouseCoopers as auditor, say reports
19th Nov 2014 10:30
Tesco may ditch its auditor PricewaterhouseCoopers after accounting problems that led to a £263m shortfall in its books, according to reports, although the troubled supermarket group stayed silent. Tesco is due to appoint a new auditor in 2016 but may bring forward the change to next year following
Read moreTuesday newspaper round-up: Quindell, UK supermarkets, Japan...
18th Nov 2014 06:42
Insurance claims processor Quindell has ousted founder and chairman Rob Terry from its board "in a dramatic attempt to restore investor confidence", writes the Financial Times. The company is expected to announce the news on Tuesday morning, the paper said, citing people familiar with the situation.
Read moreFTSE 100 movers: Broker comment provides drag
17th Nov 2014 15:57
Standard Chartered dropped into the red after Canaccord Genuity reiterated its 'sell' rating and lowered its target price to 850p from 1,000p. Tesco declined after Goldman Sachs stuck with its 'sell' rating on the stock and shrunk its target price cut to 155p from 250p. Credit Suisse and JP Morgan
Read moreMonday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read more'Big Four' supermarkets could face closures, Waitrose boss warns
16th Nov 2014 12:07
UK supermarkets Tesco, Morrisons, Asda and Sainsbury could be forced to close some of their stores, Waitrose chief Mark Price has warned. Price, who has been notably vocal about the current picture on the grocery market in recent times, said it would be "incredibly hard to call" whether the 'big fou
Read moreLondon close: Stocks end marginally higher after Eurozone data
14th Nov 2014 16:40
UK stocks ended the final session of the week with modest gains, but struggled against weakness among the mining and energy sectors. The FTSE ended the week at 6,648.13, a gain of 12.68 points on the day and 80.89 on the week. "A combination of mining and energy company weakness has seen the FTSE s
Read moreFTSE 100 movers: Aggreko pleases with trading update
14th Nov 2014 16:29
Temporary power and temperature control group Aggreko rose strongly after it gave an in-line trading update and said it continued to expect 2014 underlying trading profits to resemble those of 2013. Tesco traded higher after HSBC analysts upgraded their rating to 'overweight' from 'neutral'. This fo
Read moreLondon midday: UK stocks pull back from six-week high despite upbeat Eurozone data
14th Nov 2014 11:28
Mining and oil shares were leading the UK stock market lower on Friday as commodity prices weakened, with the FTSE 100 pulling back after hitting its highest level in a month and a half. Nevertheless, losses were only modest in London, with sentiment supported by some reassuring growth figures from
Read moreMarket overview: US data boosts stocks
14th Nov 2014 09:14
1630:Close Shares of Aggreko led gains on the top flight index after pleasing investors with its trading update. Tesco and Sainsbury also did well, with the former having received an upgrade out of HSBC. Large gains were also to be seen in Petrofac and Aberdeen Asset Management. Boosting stocks on F
Read moreLondon open: Resource stocks drag FTSE lower, but Eurozone data impresses
14th Nov 2014 08:28
UK stocks pulled back from their highest levels in a month and a half on Friday, though the downside was being limited by some rare positive economic data from the Eurozone. Figures released on Friday morning showed that both Germany and France returned to growth in the third quarter, reassuring the
Read moreFriday newspaper round-up: Asda, British American Tobacco, BT...
13th Nov 2014 17:29
Asda has accused its rivals of being "desperate" and misleading customers with price gimmicks, the Daily Telegraph reported on Friday. Barry Williams, one of the supermarket chain's most senior executives, said Asda's traditional rivals were feeling "chirpy, chirpy not cheap, cheap", as they vowed t
Read moreLondon close: FTSE ends higher after busy day for company news
10th Nov 2014 17:06
UK stocks ended the session on a high, helped by gains across the Pond and hopes of stimulus from China following the weekend's data. The FTSE 100 climbed 44.01 points to end the day at 6,611.25. "In London, the equity market was drawn to the psychological 6,600 mark as trading volumes are as thin
Read moreFTSE 100 movers: Charles Stanley makes contrarian call on Tesco
10th Nov 2014 16:19
Supermarket rivals Tesco and Wm Morrison were among the best performers, but Sainsbury was in the red after Cantor Fitzgerald cut its target price from 320p to 275p ahead of the results of its strategic review due out this week. Although an additional decline in profits in 2015/2016 is almost inevit
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