Best of the Brokers for 03 July 2014 July 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com OCADO GROUP Deutsche Bank has upped Ocado to “hold” after six months on a “sell” rating, reducing the target price to 330p from 350p. The broker thinks while there has been a slowdown in sales growth, expectations are more realistic, and there is [...]
Morrisons hands over Kiddicare to private equity group Endless July 14, 2014 Supermarket chain Morrisons confirmed yesterday it has sold its Kiddicare business to private equity group Endless Capital for £2m. The Yorkshire-based grocer bought the online baby products retailer in 2011 for £70m as part of its bid to build its online presence. However, the company announced in March that it had taken a £163m writedown [...]
Best of the Brokers for 03 June 2014 June 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BELLWAY Numis has upgraded Bellway to “buy” from “add”, with the target price remaining 1,810p. The broker believes that the company will remain prudent with its balanced approach to growth and risk management, while being expected to be at the forefront of revenue [...]
Morrisons’ sale of floundering Kiddicare could come this week July 9, 2014 Morrisons is said to be on the brink of a deal to sell struggling maternity wear outlet Kiddicare to turnaround investor Endless. The likely sale, which has not yet been formalised, was reported by Sky News yesterday with the suggestion that an announcement could come as soon as the end of this week. Kiddicare was [...]
City Views: Where do you think Tesco went wrong and what is your view on the CEO change? July 21, 2014 PAUL O’REILLY | VIRTUAL 1 I believe that Tesco should get rid of sections such as gardening and homeware. Also, Tesco was wrong to introduce auto-checkouts, as it needlessly cut of hundreds of jobs. I have no view on the CEO change other than I hope he will improve the company. RICHARD HILL-TOUT | SAUL TRUSTEE COMPANY [...]
5 retailers who’ve suffered warehouse woes June 23, 2014 Retailers have had their fair share of misadventures with their warehouses in recent years. The fire at Asos’ distribution centre in Yorkshire is the second time the retailer has suffered damage to one of its warehouses. An explosion at the Buncefield oil depot near to its former site in Hemel Hempstead in 2005 [...]
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 [...]
London Report: Mortgage lending down but price of houses still rising June 29, 2014 MORTGAGE approval numbers are expected to fall to a 10-month low of 62,000 for May, after the introduction of tough new rules in the Mortgage Market Review (MMR) in April. Howard Archer, of IHS Global Insight, said: “This would be down from 62,918 in April, 66,563 in March and a 74-month high of 75,838 in [...]
Best of the Brokers for 29 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIAGEO Credit Suisse has cut the drinks group from “outperform” to “neutral” with a target reduced from 2,200p to 1,950p. The broker has also lowered its profit forecast for the coming year by eight per cent to reflect weaker growth in the US and emerging [...]
London Report: Miners lead way as second half kicks off with a jump July 1, 2014 LONDON’S leading shares yester-day kicked off the month and the second half of the year on a positive note, as investors looked to a mixed bag of global manufacturing surveys. The FTSE 100 ended up 0.87 per cent at 6,802.92. The FTSE 100 is still 1.3 percent off its 2014 peak of 6,894.88 in May, [...]