Is Tesco saved? A small victory for Dave Lewis in the supermarket’s Christmas results, but 2016 remains a challenge January 14, 2016 Tesco reported its best Christmas trading results since Dave Lewis has been at the helm but does this really mean that ‘Drastic Dave’ and his management team can breathe a little easier? The dynamics of grocery shopping has changed with value and convenience the two biggest factors for consumers. Competition has never been fiercer so it would [...]
Tourism stocks tumble in the wake of the Jakarta attacks as the share prices of EasyJet, InterContinental Hotels, Tui and IAG fall January 14, 2016 The FTSE 100 index traded lower this morning as attacks in the Indonesian capital weighed on tourism stocks. This morning a series of bomb blasts hit Jakarta, the Indonesian capital, followed by gunfire, reported to have killed at least seven people. In the aftermath of the blasts, Jakarta police spokesman Muhammad Iqbal said five attackers and two other [...]
FTSE 100 index falters as the price of oil slides January 14, 2016 The FTSE 100 index opened down this morning as the price of oil continued to linger around $30 a barrel. The UK's blue-chip index opened 1.68 per cent down at 5,860 points. "For the first time this year the FTSE 100 managed to post two positive days in a row yesterday, buoyed by a rebound in [...]
Tesco’s share price soars as supermarket beats expectations for Christmas trading as sales rise January 14, 2016 Tesco has beaten expectations for its Christmas trading, with sales up for the six weeks to 9 January, prompting the supermarket's share price to soar more than seven per cent this morning. The figures The UK's largest retailer grew group sales by 2.1 per cent in the six weeks to 9 January, with UK like-for-likes [...]
Government on the defensive as North Sea suffers through another oil price slump January 13, 2016 The government was forced to defend its efforts to shore up the British oil industry yesterday, as record US stocks sent the price of Brent crude oil falling below $30 a barrel in late evening trading. During Prime Minister's Questions (PMQs), Sir Alan Duncan, a former oil trader, asked Prime Minister David Cameron to launch an [...]
Petrol prices will fall throughout January to catch up with the latest slump in the oil price January 13, 2016 The supermarket petrol price war is set to intensify, as the "lower for much longer" mantra sweeps through global oil markets. Oil has fallen around 15 per cent since all big four supermarkets – Sainsbury's, Tesco, Asda and Morrisons – slashed diesel prices to below £1 earlier this month. "It takes two to three weeks [...]
Sainsbury’s, Tesco, Asda and Morrisons: Supermarket petrol price wars to intensify as oil rout deepens January 13, 2016 The supermarket petrol price war is set to intensify, as the "lower for much longer" mantra sweeps through global oil markets. Oil has fallen around 15 per cent since all big four supermarkets – Sainsbury's, Tesco, Asda and Morrisons – slashed diesel prices to below £1 earlier this month. A Morrisons spokesperson said: “If oil prices continue to fall [...]
FTSE 100 index rises over 6,000 mark as it opens sharply higher on oil companies as share price of BP and Shell rise with pharmaceuticals including Shire and AstraZeneca January 13, 2016 The FTSE 100 climbed back over the 6,000-point mark in the first hour of trading today, as the index rose after positive trade data from China helped abate fears of a possible slowdown in the world's second largest economy. Improvements in Chinese export data appear to suggest that while the economy is slowing, things may not be nearly [...]
Supermarket bosses have nowhere to hide January 13, 2016 Who said there’s blood on the high street? Retail stocks rose well into green territory yesterday, Morrisons up nine per cent and Debenhams a whopping 16 per cent higher, after both reported a jump in like-for-like sales. Defying City expectations, the pair of troubled FTSE-250 outlets remind us that retail should not be viewed as an [...]
FTSE 100 index opens up on supermarkets as share price of Tesco, Sainsbury’s and Marks & Spencer rise following Morrisons results January 12, 2016 The FTSE 100 index opened higher this morning as housebuilders and supermarkets made gains. The UK's blue-chip index rose 0.2 per cent to 5,883 points, led higher by Tesco, Sainsbury's and housebuilder Berkeley Group. The index made gains despite continued scepticism about the state of the Chinese economy. Read more: And they’re off – Shire and Baxalta agree $32bn [...]