The Mog effect? Sainsbury’s share price climbs as grocer outperforms Tesco, Asda and Morrisons as Kantar supermarket figures December 15, 2015 Could it be the Mog effect? Sainsbury's has beaten Tesco, Asda and Morrisons to become the best performing supermarket among the Big Four. In fact, Kantar Worldpanel figures show that Sainsbury's was the only grocer among the top spots to post a growth in sales for the 12 weeks to 6 December, up 1.2 per cent. Tesco and Asda had [...]
Greene King boss Rooney Anand joins Morrisons’ board December 14, 2015 The chief executive of Greene King, Rooney Anand, has been appointed as non-executive director and senior independent director of the supermarket Morrisons. Anand, whose career includes stints at United Biscuits and Sara Lee, before joining Greene King as managing director in 2001, will join the board from 1 January. His appointment is one of several key hires [...]
Asda drops petrol prices below £1 a litre as oil price hits seven year low but how long will it last? December 10, 2015 Asda's done it. From tomorrow its petrol will be cheaper than £1 a litre, but only for a couple of days. As oil prices continue to languish around seven year lows, Asda has announced it will cut the price of its unleaded petrol to 99.7p a litre, and diesel to 103.7p per litre. The reduction will only [...]
As Tesco’s share price drops to an 18-year low, it’s clear the rollercoaster ride will continue for some time yet December 10, 2015 Tesco has turned back time this week, with its share price dropping to an 18-year low. The less said about what was going on in 1997 the better – instead, we turn our focus to the rollercoaster ride that is the UK's largest retailer. Dave Lewis has certainly ushered in some change, but given where Tesco's [...]
Best of the Brokers for 9 December 2015 December 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MORRISON SUPERMARKETS HSBC has upgraded Morrisons from “sell” to “hold” after a weak third-quarter trading statement from the supermarket last month caused shares to fall below HSBC’s target price of 150p. It has left its forecasts and target price unchanged. The broker said [...]
Sainsbury’s, Asda, Tesco and Morrisons will all cut petrol prices as oil falls below $40 a barrel December 9, 2015 Oil prices plunging below $40 a barrel for the first time since February 2009 may have thrown the markets, but it’s good news for consumers, as the price of petrol may fall to £1 a litre for Christmas. The RAC estimates that the average price of unleaded petrol will fall by 3p in the next [...]
Countdown to Christmas, Syria vote and Star Wars economics: Here’s what got us talking this week December 4, 2015 A ray of sunshine after the gloomiest November in 86 years: this was the week in which the Bank of England declared the end of the financial crisis. Even banks aren’t stressed any more… What got us talking this week 1. Festive fun Only 20 more sleeps until the big day, and don’t we know [...]
Shell wins final Australian approval for its takeover of BG December 3, 2015 Oil major Shell has received the final nod from an Australian regulator for its proposed $70bn (£47bn) acquisition of BG group, meaning China is now the last regulatory hurdle it has left to clear. Approval from Australia's Foreign Investment Review Board means Shell has satisfied four out of five pre-conditions necessary for the deal to go ahead. The company added it [...]
Morrisons drops out as pharma boosts FTSE 100 – London Report December 3, 2015 The FTSE 100 index closed up last night, buoyed by pharmaceuticals that were given a boost from a Morgan Stanley note supporting AstraZeneca. The UK’s top blue-chip index closed up 0.4 per cent, at 6,420.93 points. Shire led the pack higher, closing 2.35 per cent up at 4,745p per share, while GlaxoSmithKline ended the session [...]
Morrisons is kicked out of the FTSE 100 after nearly 15 years at the top, along with Meggitt and G4S December 2, 2015 Supermarket chain Morrisons has been kicked out of the elite ranks of the FTSE 100 after nearly 15 years, joining other fallers including Meggitt and G4S. The London Stock Exchange’s quarterly review of the index confirmed that the grocer has fallen to 109th place in the ranking of the UK’s largest companies. Morrisons’ shares closed down 0.2 [...]