Tesco broker round-up - Barclays, Deutsche Bank, Shore Capital
23rd Oct 2014 16:07
There was a wide range of analyst reaction after Tesco unveiled interim results, with one commentator saying they contained "the worst performance in 40 years" as profit before tax bombed 92% to £112m and UK trading profits shrank 56%. To sum up further, first-half results showed revenue down 4.5% t
Read moreFTSE 100 movers: Tesco leads downside after profits slide
23rd Oct 2014 14:46
Tesco led the downside after its first-half trading profits fell 39.4% at constant exchange rates to £937m. Tesco's chairman Sir Richard Broadbent announced his own succession process had begun, as the company's UK like-for-like sales fell 4.6%. Although its pension deficit surged from £2.6bn to £3.
Read moreSector movers: Tesco's woes hit supermarket sector as shares tank
23rd Oct 2014 11:59
Tesco's highly-anticipated first-half results delivered a blow to the UK supermarket sector on Thursday despite profits coming in ahead of expectations, as analysts raised concerns about the struggles facing its new boss as he attempts to turn the business around. Tesco's shares were 7.3% lower at 1
Read moreLondon midday: UK stocks decline after Tesco, Tullow and Unilever disappoint
23rd Oct 2014 10:34
Poorly-received updates from heavyweights Tesco, Tullow Oil and Unilever and a profit warning from Foxtons were weighing on UK markets on Thursday, though trading was choppy after some better-than-expected data from the Eurozone. The FTSE 100 was down 0.6% at 6,359 by noon, pulling back after reachi
Read moreLondon open: Tesco leads UK stocks lower as first-half profits drop
23rd Oct 2014 07:45
UK stocks fell sharply on Thursday morning, led by poorly-received updates from blue chips Tesco, Tullow Oil and Unilever and a profit warning from Foxtons. London's FTSE 100 index was down 0.7% at 6,355 in early deals, with ex-dividend stocks also providing a drag. Markets were also giving a mixed
Read moreLondon pre-open: FTSE to open lower ahead of European data
23rd Oct 2014 06:45
UK stocks are expected to track declines seen in the US overnight, with City sources predicting the FTSE 100 will open around 45 points lower than Wednesday's close of 6,399.73. Data out overnight revealed that the HSBC 'flash' purchasing managers' index (PMI) for Chinese manufacturing rose to 50.4
Read moreTesco pre-tax profits fall 92% as chairman Broadbent quits - UPDATE
23rd Oct 2014 06:24
First-half trading profits for Tesco beat analyst forecasts and chairman Sir Richard Broadbent responded calls for his head announced his own succession process had begun, but a headline fall of 92% in pre-tax profits shocked investors and led to the shares opening lower. First-half trading profits
Read moreThursday newspaper round-up: BoE, Lloyds, JP Morgan
22nd Oct 2014 19:30
Bank of England policymakers have revealed that they do not intend to raise interest rates in the short-term amid a slowing economic recovery and increased risks from the Eurozone, the Guardian reported on Thursday. Minutes of the October meeting of the Bank's rate-setting Monetary Policy Committ
Read moreLondon close: Markets up on positive company news
22nd Oct 2014 17:04
The London market closed in positive territory for the second time this week as traders weary of negative economic news took heart from upbeat corporate results. The FTSE 100 Index ended the session 27.4 points ahead at 6399.73 as drug group GlaxoSmithKline pleased investors with news of higher earn
Read moreFTSE 100 movers: GlaxoSmithKline leads risers after pleasing with Q3 results
22nd Oct 2014 16:05
Drug giant Glaxosmithkline (GSK) rose after the pharmaceutical giant said core operating profit fell by just 6% to £1.89bn, compared with the £1.71bn forecast. Figures out from AA Insurance lifted shares in car insurers on Wednesday, with Direct Line and Admiral both parking themselves in the top 10
Read moreThursday preview: Showtime for Tesco as struggling retailer unveils H1 results
22nd Oct 2014 15:18
Tesco will be the company on most traders' watchlists on Thursday as the supermarket unveils its highly-anticipated half-year results. Trading updates and results from Stobart Group, Unilever, Debenhams, Ladbrokes, National Express, Premier Foods, Reed Elsevier and Britvic will also be on tap, along
Read moreSupermarkets face dismal Christmas unless they shape up, says Begbies Traynor
22nd Oct 2014 14:12
The UK's big supermarkets are facing a miserable Christmas and potential financial problems unless they sort out issues stopping them fighting off competition from discounters, insolvency experts Begbies Traynor said. The likes of Tesco, Sainsbury's, Morrisons and Wal-Mart's Asda need to eliminat
Read moreLondon midday: UK stocks flat amid central-bank speculation
22nd Oct 2014 11:42
UK stocks were broadly flat on Wednesday morning after jumping to a one-week high the previous session, as investors reacted to ongoing central-bank speculation and digested mixed corporate earnings. The FTSE 100 was down 0.05% at 6,369 by midday, with results from the likes of British American Toba
Read moreSupermarkets are out of date, says Waitrose boss
22nd Oct 2014 11:19
The 'big four' supermarkets have been accused of being out of date by the head of upmarket grocer Waitrose. Speaking at the launch of the retailer's Food and Drink report, Mark Price said that public's shopping habits have changed much more radically than simply favouring discount retailers. The cu
Read moreWednesday's newspaper round-up: RBS, Tesco, Lloyds
21st Oct 2014 20:56
Royal Bank of Scotland (RBS) has avoided €115m of fines for alerting the European commission's competition regulator to two attempts to fix the prices of key interest rates, the Daily Telegraph reported on Wednesday. The bank, which is 81%-owned by the taxpayer, was hit by £390m last year for manipu
Read more