Tesco speeds up CEO succession after profit warning, dividend cut
29th Aug 2014 07:27
- New CEO to join sooner than planned - FY trading profit to fall by as much as 27% - Interim dividend to be cut by 75% - Capex guidance reduced The pressure is on for new boss Dave Lewis at Tesco after the struggling grocery giant said on Friday that it expects profits to fall by as much as 27% th
Read moreBroker tips: Morrisons, Tesco, IAG, Ryanair, Melrose
28th Aug 2014 12:18
Shares of rival supermarket chains Wm Morrison and Tesco were heading in opposite directions on Thursday after Deutsche Bank upgraded its rating for the former and downgraded the latter. The bank lifted Morrisons from 'sell' to 'hold' and kept its 190p target price after an 8% share-price underperf
Read moreLondon midday: Profit-taking, Ukraine tensions hit UK stocks
28th Aug 2014 12:14
- Ukraine accuses Russia of invasion - Sentiment dampened by ECB uncertainty - CSR jumps on takeover hopes - Xaar plummets on weak guidance techMARK 2,838.91 -0.22% FTSE 100 6,799.21 -0.46% FTSE 250 15,898.75 -0.79% UK stocks retreated from an eight-week high on Thursday as renewed geopolitical te
Read moreDeutsche Bank upgrades Morrisons, downgrades Tesco
28th Aug 2014 10:08
Shares of rival supermarket chains Wm Morrison and Tesco were heading in opposite directions on Thursday after Deutsche Bank upgraded its rating for the former and downgraded the latter. The bank lifted Morrisons from 'sell' to 'hold' and kept its 190p target price after an 8% share-price underperf
Read moreThursday broker round-up UPDATE
28th Aug 2014 09:24
Antofagasta: Investec lowers target price from 720p to 719p and retains a sell recommendation. Arrow Global: Canaccord Genuity moves target price from 318p to 325p and keeps a buy recommendation. Numis downgrades from buy to add with a target price of 285p. Balfour Beatty: Berenberg moves target p
Read moreLondon open: Miners pull FTSE 100 back from eight-week high
28th Aug 2014 09:13
- Traders uncertain about ECB - CSR jumps on takeover hopes - Xaar plummets after weak H1, outlook - Miners fall, supermarkets mixed techMARK 2,849.12 +0.14% FTSE 100 6,820.18 -0.15% FTSE 250 15,983.18 -0.26% UK stocks were trading lower on Thursday as the FTSE 100 paused for breath after settlin
Read moreLondon close: FTSE recovers to end modestly higher
27th Aug 2014 16:59
- FTSE closes up 7.9 at 6,830.66 - ECB chatter, Thursday's data in focus - German consumer confidence declines techMARK 2,845.03 +0.42% FTSE 100 6,830.66 +0.12% FTSE 250 16,024.64 +0.17% The FTSE closed just marginally above its opening level on Wednesday as investors responded to a drop in German
Read moreFTSE 100 movers: Kantar data sends supermarket shares to opposite ends of spectrum
27th Aug 2014 16:20
Sainsbury led the downside after Kantar Worldpanel revealed the supermarket had endured a sales decline of 2.2% and a slight fall in market share from 16.5% to 16.4% year-on-year. Tesco was also very much in the red after the group, which is Britain's largest supermarket, saw its market share fall
Read moreDiscount supermarkets eat into price inflation and Tesco market share
27th Aug 2014 13:09
Grocery price inflation has dropped to a low of 0.2% in recent weeks, the influence of discount supermarkets held back the sector's growth and contributed to a massive decline in Tesco's market share. According to research carried out by Kantar Worldpanel, Britain's largest supermarket saw its mark
Read moreSector movers: Miners in a hole as lower prices hit Antofagasta
26th Aug 2014 17:54
Miners were on the slide on Tuesday after news of lower copper output and prices hit Chilean copper producer Antofagasta. Antofagasta said first-half earnings before interest, taxes, depreciation and amortization (EBITDA) fell from $1.27bn to $1.128bn after the average copper sales price dropped 2.
Read moreTesco urged to split itself into three separate stores
26th Aug 2014 12:18
Tesco should split itself into three parts if it is to turn its fortunes around, Bruno Monteyne, an analyst at Bernstein Research, said. Monteyne believes Tesco's incumbent chief executive Dave Lewis should consider the option of breaking the struggling retailer into three separate stores, to offer
Read moreLondon open: Stocks flat as markets await speech from Yellen
22nd Aug 2014 09:13
- Yellen in focus ahead of Jackson Hole speech - Analysts speculate over dovish/hawkish stance - Petrofac chairman to step down, LSE falls - Banks, supermarkets rise techMARK 2,819.73 -0.00% FTSE 100 6,777.60 -0.00% FTSE 250 15,841.09 +0.02% UK stocks were barely changed in early deals on Friday a
Read moreTuesday newspaper round-up: Vodafone, Rabobank, Big Four grocers...
19th Aug 2014 07:07
Vodafone is the worst mobile phone network in the country, despite the £1 billion it spent to improve its performance, according to the largest survey of the nation's signal quality. The Newbury-based company and the only British-owned mobile phone network operating in the country was bottom of the
Read moreLondon close: FTSE lifted by geopolitical developments
18th Aug 2014 16:59
- FTSE closes up 52.17 at 6,741.25 - Geopolitical tensions ease - Mortgage lending down 9% - Asking prices register biggest ever August fall techMARK 2,782.06 +0.96% FTSE 100 6,741.25 +0.78% FTSE 250 15,796.37 +0.82% The FTSE maintained its upwards trend throughout Monday's session, ultimately en
Read moreFTSE 100 movers: ARM lifted by Goldman Sachs rating
18th Aug 2014 16:11
ARM Holdings was lifted by Goldman Sachs, which put the chipmaker on its 'conviction buy' list. Travis Perkins rose after Liberum Capital kept its 'buy' recommendation on the stock, despite reducing its target price from 2,190p to 2,100p. Mining group Rio Tinto edged higher after saying it will
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