At the close: FTSE 100 index falls further to cap off a bad week January 8, 2016 The FTSE 100 index fell again on Friday, finishing just under 6,000 to cap off a bad week, as concerns over the Chinese economy continued to weigh. "A turbulent start to 2016 has seen investors adopting the brace position, as a combination of factors have driven global markets lower," Richard Hunter, head of equities at Hargreaves Lansdown, said. "With [...]
FTSE 100 index remains under 6,000 mark as fears over the Chinese economy linger January 8, 2016 After the FTSE 100 index faltered in late morning trading, it has rebounded back towards the gains it made at the open – but still remains below the 6,000 mark. The rebound comes as concerns over weakness in the Chinese economy continue to weigh on European markets. The UK's blue-chip index rose 0.44 per cent to 5,979 points in early afternoon [...]
Tesco share price soars after Barclays upgrades to buy recommendation January 8, 2016 Tesco's share price soared five per cent this morning after Barclays upgraded its rating on the stock to buy. Barclays moved its weighting from equal weight to overweight, saying recent declines in its share price had now lowered the stock to attractive levels. [stockChart code="TSCO" date="2016-01-08 11:45"] It also believes there are improvements to the [...]
Tesco Bank lets students keep their cash after an ATM glitch saw people getting double their withdrawals January 6, 2016 Before the Christmas break and while last-minute present buying was well under way, students in Manchester were blessed by a malfunction from Tesco’s banking arm. An ATM in a residential area of the city began dishing out double the money that was requested for withdrawal. Hundreds of students queued for hours to grab cash from the generous [...]
Tesco to start charging £2 for click and collect deliveries under £30 from February January 6, 2016 Tesco is to start charging for click-and-collect deliveries under £30, as the business looks to bolster its bottom line. The £2 charge, which will apply to deliveries under £30, will come into force from 2 February, according to an email sent to customers today. Tesco said in a statement the move was designed to ensure its click-and-collect service [...]
Sainsbury’s should focus on its core offer January 6, 2016 Sainsbury's and Home Retail Group do not at first glance appear obvious bedfellows. If perceptions count for anything, and they do in retail, then Sainsbury’s is very much a supermarket that attempts to cater for the British middle class. Home Retail Group’s Argos doesn’t. But for both the high street and supermarkets, these are desperate [...]
A bad start to the year for Sainsbury’s, Anglo American, Aberdeen Asset Management and Burberry, who top the list of most shorted shares of 2016 January 5, 2016 Sainsbury's yesterday revealed it had made an approach to takeover Home Retail Group, the owner of Argos and Homebase, in a bid to reverse its faltering fortunes. The report came as the extent of the Big Four supermarket’s woes were laid bare by new data revealing that its shares were the most shorted on the [...]
Retail therapy: British supermarket giant Sainsbury’s considers second bid for Argos owner Home Retail Group January 5, 2016 Sainsbury's is mulling over a second bid for Home Retail Group after it came clean yesterday about a £1bn unsolicited offer for the Argos and Homebase owner. The supermarket chain said it is “considering its position” after its initial cash and share bid in November was rejected by Home Retail’s board. Home Retail was also reportedly [...]
Tesco, Morrisons, Aldi, Lidl, Asda and Sainsbury’s: What to expect from the supermarket sector’s Christmas results January 5, 2016 Supermarkets were going for broke this Christmas, after a poor year of trading for the likes of Tesco, Morrisons and Asda, with Sainsbury's the only one of the Big Four in growth in the run-up to the festive period. But with challengers Lidl and Aldi stealing market share from the price conscious, while Marks & Spencer and [...]
FTSE 100 index opens higher regaining some losses made yesterday on the back of miners and Tesco January 5, 2016 The FTSE 100 made a strong start as markets opened, regaining some of the 2.6 per cent it shed yesterday. The index rose 1.09 per cent to 6,158 points as trading began, led higher by miners and Tesco, while Aberdeen Asset Management and Next fell. Tesco led the pack, rising 4.26 per cent to 148.48p per share, [...]