BEST OF THE BROKERS September 11, 2011 WM MORRISON Deutsche Banks rate the supermarket group as “hold” with a target price of 310p, up from 272p. Following results last week, the broker says Morrisons is in a good place relative to other UK food retailers, but lacks growth potential compared to other stocks in the sector. If the supermarket does not achieve [...]
Sales surge at Morrisons September 8, 2011 MORRISONS marked its forecast-beating first half results with a renewed effort to finally enter the online delivery market – more than a decade after its rivals launched their services. The supermarket saw an 8.9 per cent rise in first-half profits to £449m, as a focus on fresh foods, low prices and promotions helped it chip [...]
Apple man to freshen up supermarket September 8, 2011 A quick glance at his CV shows that Morrisons’ appointment of Simon Thompson to managing director of its website is something of a coup. He left Apple in May after rising to become one of the most senior marketing-men in its European office. While working under Steve Jobs headed up the team responsible for its [...]
Oil and gas companies lead a volatile FTSE to further gains September 8, 2011 BRITAIN’S leading shares ended higher after a volatile session yesterday, as investors emerged for beaten-down growth stocks to put a floor under the market. By the close the FTSE 100 was up 0.4 per cent at 5,340.38 points, taking a rally into a third straight day after an intraday trading range of 100 points, or [...]
Wm Morrison sales up on record customer numbers September 8, 2011 Supermarket chain Wm Morrisons has shrugged off the retail sector gloom to post an almost nine per cent rise in its pre-tax profits in the first half as a record number of shoppers visited its stores. Morrisons attracted 11.5m customers on average each week, adding 2.2 per cent to its like for like sales excluding [...]
THE TIPSTER September 5, 2011 THE threat of Federal Housing Finance Agency (FHFA) lawsuits from the US is certainly hammering banks and with Barclays being very much on the Agency’s hit list, the stock has been tumbling in London over recent days. However, heavyweight investors have shown conviction in the bank in the past, so is there any reason to [...]
Morrisons looks to build on its rising sales trend September 4, 2011 SUPERMARKET chain Morrisons reports its half yearly results on Thursday in which it is expected to give an update on its £320m cost saving programme and the performance of its new convenience stores under the M Local brand. The group’s first quarter figures showed a surprise like-for-like rise in sales, excluding fuel, of 2.5 per [...]
THE WEEK AHEAD September 4, 2011 COMPANY NEWS ● Lonrho announces today. It invests in infrastructure, transport, agribusiness, hotels and support services businesses in Africa. ● On Tuesday, Allstate, Ashtead and Genus all announce. The latter is a British-based business selling products manufactured using biotechnology to cattle and pig farmers. ● Amphenol will announce on Wednesday. Amphenol was founded in Chicago [...]
China’s answer to Vegas is Eastern gambling paradise September 4, 2011 OF all the improbable consequences of China’s headlong rush into beating capitalism at its own game, Macau is the weirdest.In common with nearby Hong Kong, the former Portuguese colony returned to Chinese ownership in 1999, but remains largely self-determining. As a result, gambling is legal. And not just legal: Macau is known as the Vegas [...]
Poet’s Voice to give Godolphin double Celebration August 25, 2011 FRANKIE Dettori had a tremendous final two days at York and I expect his good run to continue as POET’S VOICE is going to be extremely hard to beat in tomorrow’s Celebration Mile at Goodwood (3.20pm). He won this race easily last year on his favoured soft ground before going on to take the Group [...]