London midday: Weak economic data and earnings sink stocks
14th Oct 2014 12:10
A wave of disappointing corporate updates and worse-than-expected data from the Eurozone pushed UK stocks firmly into the red on Tuesday, as concerns about the global economy continued to weigh on sentiment. The FTSE 100 was down 0.7% at 6,322 by midday, as gains in the mining sector were offset by
Read moreTesco suspends three more executives over £250m black hole - UPDATE
14th Oct 2014 11:40
Tesco has suspended three category directors in relation to the recent scandal over its accounting practices. The supermarket giant, which had so far suspended five executives as it conducts an investigation into how it managed to overstate its first-half profit guidance by £250m, confirmed media re
Read moreFTSE 100 movers: Miners lead on the upside as travel stocks continue lower
13th Oct 2014 15:53
Mining stocks gained strongly thanks to broker upgrades and positive economic data out from China which showed that both exports and imports jumped in September, by 15.3% and 7% year-on-year respectively. Over the last few months the sector has registered sharp declines due to mounting concerns abou
Read moreSunday newspaper round-up: Tesco, ISIS, Ebola...
12th Oct 2014 11:34
Fresh from a string of profit warnings and an accounting scandal, supermarket chain Tesco has seen another senior executive depart, says The Sunday Times. Company secretary Jonathan Lloyd, who was responsible for advising the group on legal and governance issues, has joined the recent boardroom exod
Read moreBroker tips: GKN, Tesco, IAG
8th Oct 2014 17:38
Tesco's stock was back on investors' shopping lists again on Wednesday after HSBC upgraded its rating on the UK grocer from 'underweight' to 'neutral' and lifted its target price from 175p to 195p. Though sentiment is still fragile after a string of profit warnings and an accounting scandal at the s
Read moreFTSE 100 movers: Oil giants sit at opposite ends of footsie
8th Oct 2014 15:39
Oil stocks Petrofac and Tullow were at polar ends of the FTSE on Wednesday. ITV climbed after Credit Suisse said the broadcaster might return cash to shareholders and rated the stock 'outperform' with a target price of 270p. Aerospace and automotive group GKN was in the red after Bank of America Me
Read moreHSBC upgrades Tesco to 'neutral', bad news priced in
8th Oct 2014 11:43
Tesco's stock was back on investors' shopping lists again on Wednesday after HSBC upgraded its rating on the UK grocer from 'underweight' to 'neutral' and lifted its target price from 175p to 195p. Though sentiment is still fragile after a string of profit warnings and an accounting scandal at the s
Read moreLondon midday: Ebola fears, macro concerns hit UK stocks
8th Oct 2014 11:34
Fears about a possible Ebola outbreak in Europe and continued concerns about the global economy were weighing on UK stocks on Wednesday. The FTSE 100 was down 0.3% at 6,475 by around midday with cyclical stocks and airlines providing a drag. Risk appetite was also being held back by nervousness ahe
Read moreLondon open: Macro concerns hit stocks ahead of earnings, Fed minutes
8th Oct 2014 08:36
UK stocks fell for a second day on Wednesday as concerns about global growth and nervousness ahead of the start of US earnings season eroded risk appetite. Heavy falls from industrial stocks and travel companies saw the FTSE 100 fall 0.3% to 6,475 in early trading. European stocks fell on Tuesday a
Read moreWednesday newspaper round-up: Tesco, Morrisons, Ebola
7th Oct 2014 19:49
Several large investors have signaled to Tesco that they would be willing to support a rights issue, of between £1-2bn, to strengthen the retailer's hand. Nevertheless, that does not mean that they are pleased by the company's performance, one of them told The Times, but there is a general acceptanc
Read moreFTSE 100 movers: Tesco leads risers, but travel stocks slide on Ebola fears
7th Oct 2014 15:40
Supermarkets were continuing to claw their way back after a string of profit warnings and an accounting scandal at Tesco hammered sentiment last month. Shares in the UK's largest retailer were trading nearly 5% higher after the news that the company has asked another senior manager to step down and
Read moreSector movers: Ebola fears hammer travel stocks, but grocers and miners rise
7th Oct 2014 14:19
Fears about the fallout from a potential Ebola outbreak hammered stocks in the travel and leisure sectors on Tuesday with UK-listed airlines and tour operators dropped sharply. In contrast, supermarket and mining stocks were bucking the trend with the two sectors, which have both bore the brunt of t
Read moreLondon midday: Mining gains offset by falls from airline, healthcare stocks
7th Oct 2014 11:36
Poor economic data was weighing on UK stocks on Tuesday, with decent gains in the mining sector offset by falls from airlines and pharmaceuticals. The FTSE 100 was trading 0.6% lower at 6,522 by around midday. Nervousness ahead of the start of third-quarter earnings season in the States was also ca
Read moreLondon open: UK stocks drop despite mining gains
7th Oct 2014 08:27
Strong gains in the UK mining sector weren't enough to keep London's FTSE 100 from slipping into the red on Tuesday morning. Indices across Europe were tracking a weak finish on Wall Street and a mixed performance on Asian markets overnight. The FTSE 100 was trading 0.6% lower at 6,526 within the o
Read moreTesco rebuffs TPG offer for data analysis unit Dunnhumby
7th Oct 2014 08:24
Troubled supermarket chain Tesco has reportedly been contacted by private equity buyout company TPG about potentially acquiring Dunnhumby, the data analysis unit that runs its Clubcard loyalty scheme. Dunnhumby, which Tesco bought 10 years ago, has been valued at more than £2bn. According to source
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