StanChart’s new man lifts FTSE to a record level – London Report February 26, 2015 Britain’s top equity index yesterday hit a record closing high – for the second time this week – helped by a surge in the share price of the Asian-focused bank Standard Chartered. Standard Chartered advanced by 5.4 per cent as traders welcomed its appointment of a new chief executive, former JP Morgan investment bank boss [...]
Supermarket surge after top boss bows out boosts FTSE 100 – London Report January 13, 2015 MORRISONS’ surge buoyed the FTSE 100 yesterday, after the grocer announced that its chief executive had been shown the door following its poor performance during the busy Christmas trading season. The blue-chip FTSE 100 index was up 0.6 per cent at 6,542.20 points at the close. But weaker commodity stocks on the back of fresh [...]
Best of the Brokers for 28 November 2014 November 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com SAINSBURY’S Stockbroker Shore Capital has downgraded Sainsbury’s from “hold” to “sell”, after the company announced that it expected like-for-like sales to be negative for several years. It added that the much anticipated price/margin reset by Tesco could impact Sainsbury’s negatively. THOMAS COOK Stockbroker [...]
Sainsbury’s hit by first sales fall in nine years March 18, 2014 SAINSBURY’S nine-year run of like-for-like sales growth came to a halt in the fourth quarter as sluggish market growth and fierce competition from discounters finally caught up with the grocer. Like-for-like sales excluding fuel tumbled 3.1 per cent in the 10 weeks to 15 March, ending 36 consecutive quarters of sales growth on chief executive [...]
Sainsbury’s online boss promoted February 27, 2014 Sainsbury’s has promoted the head of its £1bn online business Jon Rudoe to the operating board, as the supermarket chain ramps up its online efforts. Sainsbury’s said the move reflected “the rapidly growing importance of online and digital sales channels,” with Rudoe taking over all responsibility for IT. Before joining Sainsbury’s in 2011 Rudoe was [...]
Discounters Aldi and Lidl win Christmas as over half of UK visit their shops January 13, 2015 German discounters were the clear winners in the battle for Christmas sales, after more than half of all UK households shopped at their stores. While families typically treat themselves at Christmas and head to the big four, discounters have grabbed market share with clever ad campaigns and cheap offers on premium items such as champagne. [...]
FTSE rebounds on expectations of European QE – London Report January 7, 2015 Britain’s top equity index gained nearly one per cent yesterday, rebounding from a three-week low as Eurozone consumer price data raised expectations of new stimulus from the European Central Bank. The blue chip FTSE 100 index, which had fallen in the last three sessions and hit its lowest since mid-December on Tuesday, finished 53.32 points, [...]
City Moves for 09 February 2015 | Who’s switching jobs February 8, 2015 Cohn & Wolfe The communications agency has appointed Helen Ridgway as chief executive of technology agency AxiCom, which it acquired seven years ago. Cohn & Wolfe, in turn, is part of WPP. Ridgway co-founded AxiCom 20 years ago. Her client base includes Tyco and Microsoft Devices Group. Insight Investment Shankar Athreya has been appointed head [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
Nightmare on high street: How discounters stole Tesco’s market share December 19, 2014 Although at first glance any shift in the share of the grocery market seems slim, the changes that have taken place over the last two years tell an interesting story. It shows the gradual increase of smaller companies such as Aldi, Lidl and Waitrose at the expense of larger chains such as Tesco, Sainsbury’s [...]