FTSE 100 drops below 7,300 points for first time in five months as pound grows September 7, 2018 The FTSE 100 has dropped below 7,300 points for the first time in nearly five months as the pound continued to grow and global uncertainty caused investors to halt activity. The index dropped to a low of 7,227 points this afternoon before gaining slightly towards 7,270. Markets across Europe have all fallen today but the [...]
Business expansion doubles Arrow Global’s profit August 30, 2018 European asset manager Arrow Global today revealed that profit after tax more than doubled this year, driven by business expansion. The figures Profit after tax rose by more than 100 per cent to £8.5m in the first half of this year, compared to £3.7m in the same period in 2017. In the six months to 30 June [...]
Supermarket sweep: Which FTSE 100 grocer is the best buy? August 14, 2018 British supermarkets haven’t had an easy ride lately. There’s been plenty for them to worry about – the biggest being the rising cost of imports as sterling has continued to slide (the pound dropped to €1.11 and $1.28 last week). A weak pound has tightened profit margins. And with heavy competition from discount retailers, passing [...]
Ocado delivers mixed results July 10, 2018 Ocado revealed a mixed set of first-half results. Revenue rose by 12.1 per cent to £799 million, while EBITDA slipped by 13.9 per cent to £38.9 million. When you factor in depreciation, amortisation, impairments and net finance costs the company swung to a loss of £9 million. The CFO expects the full-year pre-tax loss to [...]
Sainsbury’s sales dip while Ocado and Lidl gain in latest grocer data June 26, 2018 Sainsbury's was the only supermarket to see a decline in sales during the 12 weeks to 17 June, new data shows. Sales slipped by £10m compared to the same period last year, bringing its market share down to 15.6 per cent, according to Kantar Worldpanel. Tesco, Asda and Morrisons also all lost market share despite [...]
M&S and Microsoft launch strategic partnership June 21, 2018 Marks & Spencer is teaming up with Microsoft in a bid to shake off its reputation as a digital laggard. A strategic partnership between the two companies will focus on testing the integration of Microsoft artificial intelligence (AI) tech into M&S stores and wider operations. Today’s announcement comes a day after a former M&S digital [...]
Ocado shares rise as it is dubbed the ‘Microsoft of retail’ June 20, 2018 Shares in online grocer Ocado climbed more than six per cent in early trading today, after a broker called it the "Microsoft of retail". The newest entrant to the FTSE 100 was the top riser this morning, leading the way in the All-Share index as well as the blue-chip benchmark. The boost came after analysts [...]
Ocado shares rise as it is dubbed the ‘Microsoft of retail’ June 20, 2018 Shares in online grocer Ocado climbed more than six per cent in early trading today, after a broker called it the "Microsoft of retail". The newest entrant to the FTSE 100 was the top riser this morning, leading the way in the All-Share index as well as the blue-chip benchmark. The boost came after analysts [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
Ocado joins FTSE 100 as Marks & Spencer narrowly escapes being kicked off May 30, 2018 Online retailer Ocado officially joined the FTSE 100 today, while embattled department store Marks & Spencer narrowly avoided dropping off the blue chip index. Ocado was promoted from the FTSE 250 in a quarterly reshuffle by index provider FTSE Russell that also saw bookmaker GVC promoted. Ocado’s FTSE jump comes after the retailer’s shares soared [...]