|Bid||227.10 x 0|
|Ask||227.30 x 0|
|Day's Range||226.80 - 232.70|
|52 Week Range||203.70 - 332.67|
|Beta (5Y Monthly)||0.37|
|PE Ratio (TTM)||16.99|
|Forward Dividend & Yield||0.09 (3.96%)|
|Ex-Dividend Date||May 21, 2020|
|1y Target Est||N/A|
The views expressed are her own.) The euro is basking in the afterglow of yesterday's European Central Bank meeting; having just enjoyed its longest winning streak since 2011 -- eight days -- it could extend that all the way back to 2004, should it post another day of gains. The ECB action, extending the PEPP emergency programme by another 600 billion euros until June 2021, comes on top of the EU recovery fund proposal and a new German fiscal stimulus package. The ECB move also lowered Italy's 10-year bond yield spread to Germany by 20 bps.
Neither data set would be considered decent under normal circumstances, but market moves show how starved investors are for any evidence of a turnaround that would justify the current elevated market valuations. Hopes of more stimulus has widened the chasm between market valuations and the real economy, despite expectations for a slow economic recovery, growing concern over U.S.-China tensions, U.S. civil unrest and rising coronavirus infections. On Wednesday, the Federal Reserve widened its municipal liquidity program to include more businesses and Australia offered a stimulus package for construction.
The CEO revolving door is spinning fast as U.K.-listed companies try to cope with the coronavirus crisis.
The S&P 500 and Nasdaq posted their sixth session of gains out of seven and today Asian and European shares are up more than 1%. The positive mood is hurting the dollar, which hasn't really recovered since last month's European Union bailout fund proposal, which finally envisaged joint debt issuance.
The pound on Tuesday moved past the $1.25 level for the first time in more than a month, getting a bid as traders price in a more optimistic global environment.
The shake-up of Tesco’s top management continued on Tuesday after the UK’s biggest retailer said its finance director would step down next April, just over six months after chief executive Dave Lewis departs. Tesco said that Alan Stewart, 60, was retiring and that both internal and external candidates would be considered as replacements. It added that Mr Stewart had “played an instrumental role in the turnround of Tesco”, helping lead a corporate restructuring and a reconstruction of the group’s balance sheet.
Tesco's <TSCO.L> finance chief, who helped steer the group from an accounting scandal to a successful turnaround, is to retire, setting the stage for an entirely new top executive team at Britain's biggest retailer by next May. Alan Stewart will depart next April, Tesco said on Tuesday, six months after CEO Dave Lewis is due to step down and be replaced by Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance <WBA.O>. Tesco was on its knees in September 2014 when Stewart left Marks & Spencer <MKS.L> to join the supermarket group as chief financial officer.
Markets appear unfazed by President Donald Trump's call to use the military to deal with protests across the United States over the death of George Floyd. Trump's stark message failed to stop looting, with a strip mall in Los Angeles being set ablaze, yet Wall Street closed higher on Monday. The euro continues to gain over the euro zone's 750 billion-euro rescue plan and before the European Central Bank's Thursday meeting, which is expected to add to emergency stimulus scheme.
Focus is instead on the resumption of economic activity and hopes data in the rest of the world will follow China, where official PMIs for May remained in expansion and the private Caixin manufacturing PMI beat expectations. Asian shares surged to new three-month highs, European markets are up 1%-2% and Wall Street is set to rise after President Donald Trump merely ordered an end to Washington's special treatment of Hong Kong, rather than jeopardising hard-won trade agreements with China. Safe-haven U.S. and German bond yields are inching up, although background noise – coronavirus, U.S. politics and Hong Kong -- may cap moves.
When Sainsbury's <SBRY.L> new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the conversation will be radically different from the one he might have imagined when he got the job. In late January, Britain's second largest supermarket group by sales after Tesco <TSCO.L> announced retail and operations director Roberts would succeed Mike Coupe as chief executive after his six years in the job. Then the biggest issues Roberts faced were honing a strategy for Sainsbury's to prosper alone after its failure to combine with Asda, owned by Walmart <WMT.N>, getting through Brexit and fending off competition from Amazon <AMZN.O> and German-owned discounters Aldi and Lidl.
China's planned security law for Hong Kong, and rising tensions with the United States, threatens to sour the tone in world markets hopeful that the global economy can recover as the coronavirus lockdowns ease. Riot police were deployed across Hong Kong on Thursday as lawmakers debated a bill that would criminalise disrespect of China's national anthem, prompting Asian shares to erase their gains. The biggest risk to equities is the Sino-U.S. relationship, which could worsen after U.S. Secretary of State Mike Pompeo said Hong Kong no longer warranted special treatment under U.S. law.
Chaotic scenes erupted in Hong Kong’s financial centre as new protests flared up over Beijing’s proposed national security laws, a reminder to markets that China and the United States are apparently back on collision course. U.S. President Donald Trump said late on Tuesday Washington was working on a strong response to China's legislation push, with measures to be announced before the end of the week.
Moody's Investors Service, ("Moody's") has today affirmed Tesco Plc's (Tesco) Baa3 long term issuer rating and assigned the company a Prime-3 (P-3) short term issuer rating. Moody's has also withdrawn the short term (foreign and domestic) P-3 ratings assigned to the Tesco Plc's and Tesco Treasury Services PLC's commercial paper programmes because no longer outstanding.
Escalating rhetoric from President Donald Trump hit Wall Street yesterday, but Asian markets today are red all over following China's proposal for a new Hong Kong law to ban sedition, secession and treason. The Hang Seng index plunged 5% at one point and the Hong Kong dollar slid the most in six weeks. World stocks are down around 0.7%, but that may pick up steam as a pan-European index is down 1.5% and Wall Street is expected to open weaker.
More than £30 billion in company dividend cuts has left a huge hole in the pockets of U.K. investors in retirement and those who rely on it to top up their monthly income.
Asian markets advanced, enjoying the afterglow of an upbeat session on Wall Street, which jumped 3.2%. There are some signs that a tentative economic recovery is underway with the ZEW release in Germany, due this morning, expected to point to an improvement in economic sentiment and current conditions. Crude oil futures are also caught up in the slipstream, scaling two-month highs on hopes of economic recovery and signs that producers appear to be following through with planned production cuts.
European shares have opened 1.8% higher, S&P500 is tipped to rise and Chinese shares have seized on signs of house price recovery and promises of more central bank stimulus to post their best gain in six trading days. All six European countries have lifted short-selling bans imposed during the selloff. Clearly, rather than look at reported data and company earnings, people are focusing squarely on what lies ahead beyond the second quarter – betting on resumption of economic activity, a pick-up in manufacturing, trade and driving.
U.K.-based multinational groceries chain Tesco PLC <TSCO.L> has found abuses against migrant workers at its stores and distribution centres in Malaysia and Thailand, it said in its annual modern slavery statement. The company listed allegations based on interviews with 168 migrant workers in Malaysia and 187 in Thailand that included passport retention, unexplained and illegal wage reductions, heavy indebtedness to labour brokers and excessive overtime work. In Malaysia, the passports of 68 Indonesian and 171 Nepali workers were withheld, while 15 passports and up to 30 work permits were withheld by a supplier in Thailand.
After the euphoria of April, world stocks are on track for their biggest weekly loss since mid-March, when the coronavirus-linked rout was in full swing. European markets are enjoying rises of 1% to 2%. Today's data showing China's industrial output surprising to the upside could also support the thesis that crude demand will rise as economies re-open.
By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with...
The views expressed are her own.) "You will get business failures on a grand scale," was the warning last night from St Louis Federal Reserve President James Bullard. Expect his boss, Fed Chairman Jerome Powell, to repeat that message tonight. Fed funds futures are pricing in rates of about a basis point below zero by April 2021.
Friday’s numbers showed the U.S. economy lost 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression, with the monthly unemployment rate surging to 14.7%. Economists say the true extent of unemployment may be far more than the headline figures, stocks are gaining on the belief on Monday that the gradual easing of coronavirus restrictions in major economies will ensure a strong recovery starting in the final quarter of 2020 and continuing into 2021. Asian markets are a sea of green with an index of regional shares up 1%.
The views expressed are his own.) Stronger than-expected Chinese export numbers might boost speculation that the Asian giant's economy can recover quickly and come to the aid of global growth. Another warning on the world economic outlook came from the Bank of England which said the coronavirus crisis could cause the biggest economic slump in 300 years. Markets are also wary of developments in Turkey where the lira has fallen to a record low of 7.25 against the U.S. dollar.