London close: Stocks pare losses ahead of FOMC minutes
10th Jul 2013 16:56
Nervousness ahead of a Federal Reserve statement and disappointing trade figures from China weighed on markets on Wednesday, though a late rally on the FTSE 100 ensured that losses were only minor by the close. The FTSE 100 finished the session at 6,505, down just eight points (-0.12%) on the day a
Read moreSector movers: Tesco, Morrison lead retailers higher after Exane upgrade
10th Jul 2013 15:17
Share prices of rival supermarket chains Tesco and Morrison received a boost on Wednesday after Exane BNP Paribas raised its ratings for both stocks, lifting the food and drug retail sector higher. Tesco was 1.0% higher at 347.2p in afternoon trade after Exane upgraded the company from 'neutral' to
Read moreFTSE 100 movers: Burberry jumps after 'standout' first quarter
10th Jul 2013 14:27
Luxury fashion brand Burberry saw its share price jump on Wednesday after saying that it was pleased with its first-quarter retail performance as underlying revenues rose 18 per cent. Chief Executive Angela Ahrendts said that spring/summer 2013 was a 'standout' season. Petrofac was in demand after
Read moreWednesday broker round-up UPDATE
10th Jul 2013 08:59
Anglo American: Goldman Sachs reduces target price from 1400p to 1100p and retains a sell recommendation. Antofagasta: Goldman Sachs takes target price from 935p to 810p reiterating its neutral rating. Babcock: JP Morgan increases target price from 1230p to 1380p and retains an overweight rating.
Read moreLondon open: Stocks edge higher ahead of FOMC minutes
10th Jul 2013 08:20
The FTSE 100 opened higher on Wednesday morning, though gains were only slight as investors turned cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Following the heavy sell-off in June, the strong rebound in market
Read moreFormer Tesco boss receives over 8m pounds in payouts
8th Jul 2013 07:57
Former Tesco boss Sir Terry Leahy has received almost 8.5m in performance-based payouts since he left the supermarket two years ago. Leahy, who was at the helm of the retailer for 14 years, was handed two tranches of three-year performance payouts, The Guardian revealed in an analysis of share awar
Read moreBroker snap: Credit Suisse flags Tesco buying opportunity
28th Jun 2013 16:10
Broker Credit Suisse has flagged that Tesco is now the lowest-rated large-cap food retailer in Europe and it sees signs of recovery. Having noted that Tesco shares now trade back at their January 2012 profit warning level, a 10-year share price relative low, analyst Andrew Kasoulis said "something
Read moreFTSE 100 movers: Miners fall on concerns over Chinese slowdown
24th Jun 2013 14:13
Mining stocks were again bearing the brunt of the market-wide sell-off on Monday on concerns over slowing growth in China after Goldman Sachs cut its growth forecasts for the powerhouse for this year and the next. Vedanta, Antofagasta, Glencore Xstrata and Anglo American were all registering moderat
Read moreLondon midday: FTSE 100 nearly erases year-to-date gains
24th Jun 2013 11:38
After a bright start, the FTSE 100 had sunk sharply into the red by Monday lunchtime with the index having nearly erased all of the impressive gains made since the start of the year. The Footsie was trading 1.05% lower by midday at around 6,052, compared to an intraday high of 6,132 reached early o
Read moreBroker tips: RBS, Vodafone, Supermarkets
24th Jun 2013 11:02
Investec has upped its recommendation for part-nationalised bank Royal Bank of Scotland from 'sell' to 'hold', saying that the stock is 'marginally oversold' after the steep sell-off over recent sessions. "Given increased political disarray, despite deep 'valuation support', we do acknowledge the p
Read moreBroker snap: Citi downgrades Sainsbury and Morrison in sector review
24th Jun 2013 10:17
Citigroup has cut its ratings for supermarket peers Sainsbury and Morrison as part of its reviewed stance on the European food retail sector. In a research report titled 'From Ritz to the Rubble', the broker explains that sector earnings in real terms are now 12% lower than a decade ago and are exp
Read moreLondon open: Stocks edge higher after recent sell-off
24th Jun 2013 08:27
The FTSE 100 opened in positive territory on Monday morning, albeit only slightly, as markets made a tentative start to the new week following the dramatic sell-off seen over recent sessions. London's benchmark index closed Friday's session at just 6,116 following a number of steep declines since t
Read moreLondon midday: Stocks rebound but sentiment fragile after heavy sell-off
21st Jun 2013 11:31
The FTSE 100 rebounded from five-month lows on Friday morning after comments from the Federal Reserve prompted a dramatic global market sell-off the day before. London's benchmark index tumbled an eye-watering 189 points on Thursday, falling 2.98% to 6,160 as markets reacted to comments from Fed Ch
Read moreBroker tips: Tesco, G4S, Moneysupermarket.com
21st Jun 2013 11:29
Nomura has said that things are starting to look a bit better for UK supermarkets, as it reiterated its sector preference for grocery giant Tesco. Tesco still remains Nomura's firm favourite as it kept a 'buy' rating and 430p target price. The broker highlighted that the company has still been able
Read moreBroker snap: Tesco pull-back creates buying opportunity, says Nomura
21st Jun 2013 11:01
Nomura has said that things are starting to look a bit better for UK supermarkets, as it reiterated its sector preference for grocery giant Tesco. "Contrary to the negative commentary that the UK grocery market appears to attract, we think things are looking a little better," the broker said on Fri
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