BEST OF THE BROKERS January 19, 2011 NOKIA Standard & Poor’s Equity Research has moved the mobile maker from “strong buy” to “hold” and downgraded the target price to €8 from €9 as it feels its board has limited strategy options against competitors such as Apple’s iPhone and Google’s Android. The broker says Nokia’s operating systems lack exciting apps and it should [...]
What the other papers say this morning January 18, 2011 FINANCIAL TIMES NATIONAL GRID AWAITS RULING ON CHARGES National Grid will receive a long-awaited ruling from New York state regulators on the amount that it can charge its customers. A positive outcome would give the company breathing space to improve the performance of its US business. A negative outcome, suggested by a draft ruling last [...]
Developed markets should expect inflation January 16, 2011 INTEREST rates may still be at all time lows in the developed world but inflation is the only story in town for much of the emerging world. It will soon be the same story in the West. In 2008, spiralling food prices brought people in Asia, Africa and Latin America onto the streets. Many fear [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
Tesco shares drop on poor Xmas figures January 13, 2011 TESCO shares took a hit yesterday as it announced disappointing Christmas sales figures. Like-for-like sales in the UK missed forecasts, rising just 0.6 per cent in the six weeks to 8 January. The company blamed the poor weather on the performance with its larger stores worst hit. Tesco shares were one of the poorest performers [...]
Analyst views: Will Tesco bounce back from poor Christmas sales? January 13, 2011 PHILIP DORGAN | ALTIUM SECURITIES If we were to be critical, then we would say it has fallen short of how the market would have expected it to have performed from the time of its third-quarter announcement, whereas Sainsbury’s has actually done better. CLIVE BLACK | SHORE CAPITAL The good ship Tesco UK is certainly [...]
Tesco trading update sends investors running for cover January 13, 2011 BRITAIN’S leading share index fell yesterday as a disappointing trading update from Tesco upset food retailers and tobacco stocks were hit by a broker’s downgrade. At the close, the FTSE 100 was down 26.84 points, or 0.4 per cent, at 6,023.88, after hitting a 31-month closing peak on Wednesday. Tesco was the biggest FTSE 100 [...]
Tesco sales hit by snow chaos January 13, 2011 Tesco posted a 6.2 per cent rise in Christmas sales as strong growth in its overseas markets helped offset a weaker than expected performance in its main British market. The supermarket group, which accounts for about one in every seven pounds spent at British retailers, said on sales at UK stores open over a year [...]
London hits 31-month closing high as Portuguese fears fade January 12, 2011 BRITAIN’S top share index hit a 31-month closing high yesterday, boosted by banks after a successful bond sale in Portugal eased investor concerns over Europe’s sovereign debt crisis, and as miners tracked metals prices higher. The FTSE 100 ended up 36.69 points, or 0.6 per cent, at 6,050.72, its highest close since early June 2008, [...]
Sainsbury’s sales beat Christmas forecasts January 12, 2011 Strong sales of premium groceries and non-food ranges like clothing helped J Sainsbury to report a rise in Christmas sales which analysts expect will be the best among the top four grocers. Britain’s third-biggest supermarket group, which trails market leader Tesco and Wal-Mart’s Asda in terms of annual sales, said on Wednesday sales at stores [...]