London open: Stocks slip on growth concerns, Tesco plummets after warning
22nd Sep 2014 08:39
The UK's blue chips are leading fallers in Europe on Monday after a profit warning from troubled food retailer Tesco. As of 09:06 the FTSE 100 was 46 points lower at 6,792.86. Wall Street ended the Friday session on a mixed footing, with market commentary highlighting the tenth consecutive week of
Read moreTesco slashes profit forecast
22nd Sep 2014 07:34
Tesco has revised its forecast for profits for the six months ended 23 August, saying it had previously overestimated it by £250m. The food retailing giant cited "accelerated recognition of commercial income" and "delayed accrual of costs" as the main factors behind the overstatement and announced i
Read moreLondon pre-open: FTSE to open lower ahead of Draghi speech
22nd Sep 2014 07:27
The UK's blue chips are set for a negative start on Monday morning, following a weaker finish in the US on Friday. City sources predict the FTSE 100 will open around 32 points lower than Friday's close of 6,837.92. "Global indices are looking to start the week on a somewhat softer tone, with the As
Read moreOil, Life Insurance and Banking would pay steepest price for independence, Liberum says
18th Sep 2014 12:54
In a research note published on Thursday afternoon Liberum explains to clients that in the event of Scotland voting in favour of independence then the worst affected sectors would be: Oil, Life Insurance and Banking. The analysts base their call on what happened following the mini-scare of 8 Septemb
Read moreLondon close: Referendum jitters weigh on stocks
9th Sep 2014 18:20
London shares ended Tuesday’s session in the red as jitters about the Scottish independence referendum offset more positive economic news. The FTSE 100 Index closed 5.77 points down at 6,829 as investors chewed over one poll giving Scottish separatists the lead and another with the ‘no&r
Read moreLondon open: Subdued start as markets await UK data
9th Sep 2014 08:39
UK stocks were trading slightly lower on Tuesday morning as investors prepared for a raft of economic data on the British economy. The FTSE 100 was 0.1% lower at 6,830 in early deals, trading in the red for the third straight day. Stocks came under pressure on Monday on the back of growing support
Read moreFriday newspaper round-up: BP, Tesco, Argentina
5th Sep 2014 07:31
BP faces paying the maximum possible fine of $17.6bn over its Gulf of Mexico disaster after a judge in New Orleans ruled that the oil company was “grossly negligent”. The verdict, which BP has bitterly contested, sent shares in the company diving by nearly 6%, the worst one-day slide in
Read moreLondon close: FTSE ends with modest rise after ECB, BoE, US data
4th Sep 2014 16:59
The FTSE ended Thursday's session up 4.39 points following a busy day for investors around the globe, with rate decisions unveiled by both the Bank of England (BoE) and European Central Bank (ECB)The BoE's Monetary Policy Committee (MPC) decided to keep its main policy rate and the size of its asset
Read moreFTSE 100 movers: Standard Life soars as BP dives on judge ruling
4th Sep 2014 16:38
Standard Life surged after saying that it has agreed to sell its Canadian operations for C$4bn (£2.2bn) to Manulife Financial and would return £1.75bn of this to shareholders. The two companies also made a collaboration agreement in principle for Manulife to distribute Standard Life Investments' pro
Read moreElliott supermarket inquiry warns of potential horsemeat repeat
4th Sep 2014 16:00
UK supermarket competition is so intense that the country is being at risk of another potential horsemeat scandal, a new government report has warned. The report, commissioned in the wake of last year's revelations that some supermarket 'beefburgers' contained high proportions of horsemeat, caution
Read moreSector movers: Tesco, Morrison lead supermarket stocks lower
4th Sep 2014 15:16
Supermarket stocks were under pressure on Thursday, continuing their recent choppy trade amid ongoing concerns about heightened competition, declining profits, dividend sustainability and a critical government into the industry. The Elliott Report, an inquiry into the industry launched as a result
Read moreLondon close: FTSE closes slightly higher after construction, US data
2nd Sep 2014 17:11
- FTSE closes up 3.86 at 6,829.17 - Construction PMI better than expected - US data impresses techMARK 2,859.07 +0.02% FTSE 100 6,829.17 +0.06% FTSE 250 15,965.43 +0.05% The FTSE ended Tuesday's session with a modest rise, as investors weighed better-than-expected construction data and looked ahea
Read moreFTSE 100 movers: Weir upgraded, mining stocks gain
2nd Sep 2014 14:21
Engineering firm Weir Group was a high riser on Tuesday after Credit Suisse upgraded the shares from 'neutral' to 'outperform' and hiked its target price from 2,540p to 3,060p. The bank said that the stock offers "a better relative risk return profile" near term than sector peer IMI which it downgra
Read moreBroker tips: Tesco, Barclays, Weir
2nd Sep 2014 13:21
Santander has downgraded its recommendation for Tesco from 'buy' to 'hold' in the aftermath of last week's profit warning and dividend cut. "We continue to believe that there is real deep value in Tesco on a longer term basis, but for the next six months we see the shares as dead money at best." T
Read moreTesco's shares are "dead money at best", Santander downgrades
2nd Sep 2014 13:20
Santander has downgraded its recommendation for Tesco from 'buy' to 'hold' in the aftermath of last week's profit warning and dividend cut. Tesco said on Friday that trading profits for the full year will be £2.4bn-£2.5bn, below the previous guidance of £2.8bn, while the interim dividend will be cu
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