As the Opec cartel agrees to cut oil production, should central banks prepare for a rise in inflation? September 29, 2016 David Morrison, senior market strategist at Spread Co, says Yes. Crude soared on Opec’s announcement not just to freeze, but to actually cut production. Yet the upside momentum appears to have petered out for now. No wonder, given the lack of detail over who will bear the brunt of the proposed cuts and uncertainty concerning a [...]
“Sainsbury’s footfall is falling short” – analysts react to the retailer’s trading update September 28, 2016 Sainsbury's issued a 1.1 per cent fall in like-for-like sales this morning, and analysts' reactions have been pretty scathing. The retailer boosted its volumes, but the supermarket price war has eroded any benefit Sainsbury's might have wanted to see in its like-for-likes as a result. Sainsbury's share price has dropped 3.67 per cent today following [...]
Sales drop at Sainsbury’s in second quarter – but Argos is growing September 28, 2016 Sainsbury's reported at drop in sales during the 16 weeks to 24 September, despite transaction growth and flat fuel sales – but Argos posted a strong performance for its second quarter. The company's share price had fallen by 3.03 per cent in mid-morning trading. The supermarket posted a 1.1 per cent decline in like-for-like sales, [...]
As a beleaguered Deutsche Bank faces a $14bn fine, Angela Merkel has ruled out state aid, but could a bailout be on the cards? September 27, 2016 Recent discussion of possible European bank bailouts has focused on Italy. Saddled with €360bn of souring loans and enfeebled by a stagnant, over-regulated economy, a number of Italian lenders face a very real risk of insolvency. In July, the country’s third largest, Monte dei Paschi di Siena, failed a stress test set by the European Central [...]
Next and Morrisons: What a difference a year makes September 16, 2016 What a difference a year makes. This time in 2015, shares in clothing retailer Next were up after it reported a jump in sales in its first half. Meanwhile, Morrisons warned of a “long recovery” as it made plans to sell its underperforming M Local stores amid falling sales and profits. Yesterday those fortunes reversed: [...]
A tale of two retail sectors: Shares in fashion retailers fall as supermarkets jump September 15, 2016 It was the best of times, it was the worst of times in the retail sector today, as shares in retailers led both the risers and the fallers in the FTSE 100. Firmly in the spring of hope was the supermarket sector, where Morrisons led the risers, with shares jumping 7.13 per cent to 207.4p in [...]
Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]
Amazon’s virtual home assistant Echo comes to the UK September 14, 2016 Amazon has launched its virtual home assistant Echo in the UK and Germany, its first markets for the device outside the US, which lets users control their home and do tasks online via simple voice commands. The device, priced at £149.99 or £99.99 for Prime members, is powered by Amazon's Alexa, an artificial intelligence voice assistant similar to [...]
Here’s why Ocado’s share price has slumped this morning September 13, 2016 Ocado's share price fell more than 10 per cent in early trading this morning, despite the company announcing retail sales growth of over 13 per cent. The stock had dipped by almost 15 per cent before noon, in a sell-off sparked by comments from the delivery service's chief executive Tim Steiner, who said the company is facing continued margin [...]
Ocado posts strong results – but the company is worried about the ongoing supermarket price war September 13, 2016 Ocado, the food delivery service, celebrated a positive set of results today but said the supermarket price war will drag on for some time. The group's share price slumped nine per cent in early trading on the news. The figures Sales at the group were up 15.4 per cent, reaching £314m for the 12 weeks to 7 August. Ocado's retail [...]