FTSE rally eludes UK grocery giants January 2, 2013 SUPERMARKET chains Morrisons and Sainsbury’s failed to make the most of UK investors’ New Year optimism yesterday after analysts raised fears that their performance had been less than stellar over the crucial Christmas trading period. Morrisons was one of just three fallers in the FTSE – closing down two per cent – after house broker [...]
FTSE hits highest level in 17 months as smashes through 6,000 barrier January 2, 2013 BRITAIN’S top share index raced through the 6,000 level for the first time in 17 months yesterday boosted by a last-minute budget deal in the United States and solid global PMI data. London’s blue chip index closed up 129.56 points, or 2.2 per cent at 6,027.37, bettering the average return on the first day of [...]
FTSE 100 rallies on US fiscal cliff deal January 2, 2013 Investors welcomed in the first trading day of the new year with a sharply higher blue chip index this morning, as the FTSE 100 rose around 90 points in early trading as US policymakers approved a deal to prevent the so-called fiscal cliff. Miners led the rally, with Eurasian Natural Resources, Rio Tinto, Anglo American [...]
Festive trading is slow for UK supermarkets as sales weaken December 19, 2012 SUPERMARKET grocery sales have slowed in the past four weeks, held back by weak general merchandise sales and the continued squeeze on consumer budgets. According to the latest data from Nielsen, grocery sales in the four weeks to 8 December rose 1.3 per cent year-on-year. That compared with a two per cent growth in the [...]
Infrastructure firms snap up £2.8bn of National Grid deals December 19, 2012 INFRASTRUCTURE and construction groups Balfour Beatty, Morrison Utility Services and Skanska yesterday netted themselves a £2.8bn payout from National Grid, after winning eight-year contracts with the gas and electricity firm. Balfour Beatty has won two contracts worth £1.2bn, for eight years each, to upgrade the gas distribution network in the North West and the West [...]
City Moves | Who’s switching jobs December 16, 2012 Ashcourt Rowan Emily Morris has been appointed group head of marketing at the wealth management company. She has held a number of senior marketing roles in similar firms, and was marketing director at Rathbone Brothers for six years. Morris has additionally worked for Barclays Wealth. Peverel Group The property services group has appointed Nigel Howell [...]
Best of the Brokers December 16, 2012 ANGLO AMERICAN UBS has cut the miner from “buy” to “neutral”, and reduced its target price from 2150p to 1860p, with “heightened South Africa risk” one of the causes for a downgrade. WM MORRISON Supermarket Morrisons was downgraded by Deutsche Bank to “hold”, with a target price cut to 258p from 320p, causing the firm [...]
Allardyce praise for West Ham’s backs to the wall defending December 16, 2012 WEST BROMWICH ALBION 0 vs WEST HAM UNITED 0 WEST HAM manager Sam Allardyce hailed his team’s resolute defending as yesterday’s goalless draw at the Hawthorns earned the Hammers their first clean sheet in six games. Allardyce’s men had gone a goal behind in each of their previous five Premier League games, yet managed to [...]
Trevor to take the Strain as Morrisons FD December 13, 2012 MORRISONS, the UK’s fourth biggest supermarket, has chosen Trevor Strain to replace Richard Pennycook as its new group finance director, it said yesterday. Strain will be officially appointed to the main board in June 2013, but will take on Pennycook’s responsibilities next spring after a handover. Strain joined Morrisons in 2009 as commercial and operations [...]
Sainsbury’s has top quarter for market share December 4, 2012 SAINSBURY’S has picked up market share in the last quarter, to make it the biggest winner among the overall grocery market, data revealed yesterday. According to figures from market researcher Kantar Worldpanel the supermarket’s sales rose 4.7 per cent and its share rose 0.2 points to 16.9 per cent in the 12 weeks to 25 [...]