Advertisement
UK markets open in 6 hours 55 minutes

  • NIKKEI 225

    38,079.70
    0.00 (0.00%)
     

  • HANG SENG

    16,385.87
    +134.03 (+0.82%)
     

  • CRUDE OIL

    82.60
    -0.13 (-0.16%)
     

  • GOLD FUTURES

    2,395.10
    -2.90 (-0.12%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • Bitcoin GBP

    50,945.59
    +1,676.36 (+3.40%)
     

  • CMC Crypto 200

    1,311.00
    +425.47 (+48.06%)
     

  • NASDAQ Composite

    15,601.50
    -81.87 (-0.52%)
     

  • UK FTSE All Share

    4,290.02
    +17.00 (+0.40%)
     
Money:

Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

BUZZ-Majestic Wine: fierce promotional competition hurts Christmas trading

Reuters - UK Focus

** Wine warehouse chain Majestic Wine slides 14 pct to 2-mth lows as Christmas trading dampened by vast industry promotions that hit both its brick-and-mortar & online businesses

** Co cautions that competitive pricing environment will continue throughout much of 2015

** "With yet another downgrade, concern over strategy & future growth potential is likely to overhang the shares until the actions from the expected strategic update in June start to come through," Investec (LSE: INVP.L - news) says

** Broker places TP & recommendation for Majestic Wine under review

** Saying that Christmas performance has fallen short of its H2 forecast, Investec cuts forecast for FY 2015 pretax profit by 6 pct to 22 mln pounds, and FY 2016 by 8 pct to 23 mln pounds

ADVERTISEMENT

** Majestic Wine says LfL sales growth at UK stores during the 10-wks of Christmas was up 1.1 pct

** It invested 50 basis points of gross margin to ensure that pricing remained competitive in the heightened promotional environment (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)