Ocado share price jumps 8.5 per cent as Morrisons tie-up pushes sales up September 11, 2014 Ocado shares opened 8.5 per cent higher this morning after it reported a 22.5 per cent rise in gross sales for the 12 weeks to 10 August 2014. The online grocer enjoyed £231.9m worth of group sales, compared to £189.2m during the same period last year. Average orders per week rose 17.4 per cent from [...]
Analysts to the fore in big sectorial shakeups September 9, 2014 ANALYST of the year The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. With the UK retail sector in turmoil over the decline of Sainsbury’s, Morrison’s, Waitrose and especially Tesco – caused mainly by the rise of the German discounters – their views [...]
Best of the Brokers for 10 September 2014 September 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com WM MORRISON Citi has upgraded to “buy” from “neutral”, but cut the target price to 190p from 220p. The broker thinks negative sentiment is already priced in, and that cash flow generation is likely to remain strong and support dividends, with the prospect [...]
London Report: Lower crude prices pull FTSE down but Morrison’s gets lift September 9, 2014 BRITAIN’S top shares yesterday inched lower on Tuesday as energy stocks weakened and investors bet on whether Scotland would vote to leave the United Kingdom in the 18 September referendum. But stocks showed little reaction to comments by Bank of England Governor Mark Carney, who suggested the bank might start to raise interest rates next [...]
City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
London Report: Mining shares lift FTSE despite doubt over ECB September 2, 2014 BRITAIN’S top share index steadied near a two-month high yesterday, with some caution before the European Central Bank’s policy meeting tomorrow offsetting a rally in miners prompted by stronger metals prices. The blue-chip FTSE 100 index ended 0.06 per cent higher at 6,829.17 points after rising up to 6,849.28 points, the highest level since early [...]
Ocado share price slumps as City analyst slashes forecast August 28, 2014 Shares in Ocado tumbled 19 per cent yesterday after equities broker Redburn Partners took a knife to its forecasts and claimed the online grocer’s technology was less valuable than previously thought. Redburn’s retail analyst James Tracey downgraded the company from “buy” to “sell” and cut its 2015 earnings forecast by 57 per cent to £17.1m [...]
London Report: Ukraine tension and ore prices weigh on FTSE August 28, 2014 A RATCHETING up of tension in Ukraine yesterday took its toll on Britain’s top share index, knocking it back from its highest closing level in nearly two months. Ukrainian President Petro Poroshenko said Russian forces had entered his country and the military conflict was worsening after Moscow-backed separatists swept into an eastern town. The blue-chip [...]