|Bid||203.70 x 0|
|Ask||203.90 x 0|
|Day's range||199.07 - 204.70|
|52-week range||176.90 - 257.30|
|Beta (3Y monthly)||1.12|
|PE ratio (TTM)||15.91|
|Earnings date||12 Sep 2019|
|Forward dividend & yield||0.07 (3.29%)|
|1y target est||251.79|
British retailers endured their worst September since at least the mid-1990s as people spent money on entertainment instead, according to surveys that painted a muted picture of household demand ahead of Brexit. In a potential warning sign for consumer spending, which has helped the economy in the run-up to Brexit, the British Retail Consortium said total retail sales values declined 1.3% in September compared with the same month last year. A separate survey published on Monday by payment card company Barclaycard showed broader consumer spending -- which includes retail sales -- rose by a "modest" 1.6% in annual terms in September.
I think these two FTSE 100 (INDEXFTSE:UKX) stocks appear to offer wide margins of safety that could lead to improving prospects over the long run.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.U.K. companies are rushing into Europe’s bond market, taking advantage of what may be a last chance to lock in low-cost financing before renewed Brexit upheavals.Last week was the busiest for sales in five years, according to data compiled by Bloomberg, and Royal Mail Plc, WM Morrison Supermarkets Plc and Lloyds Bank Corporate Markets are all working on potential offerings. Borrowers last week included Barclays Plc, GlaxoSmithKline Plc and broadcaster ITV Plc.U.K. issuers may have a potentially short window to get deals done, as earnings blackouts and the countdown to the country’s Oct. 31 departure from the European Union may hinder deals next month, particularly if a no-deal Brexit seems likely. In the meantime, optimism that the country will reach an agreement or delay its departure is boosting the pound and helping to hold borrowing costs near record lows in both euros and sterling.“The whole Brexit situation remains in a state of flux,” said Andrey Kuznetsov, senior credit portfolio manager at Hermes Fund Managers Ltd. “In this type of situation, it is normal for issuers to tap the market in periods of calm and improved sentiment.”Gains for the pound this month will also likely boost investor demand for sterling assets especially amid Europe’s low yields, he said. U.K. companies sold 7.6 billion euros ($8.3 billion) of bonds in euros and sterling last week, according to data compiled by Bloomberg.Barclays demonstrated the recent pricing advantage for issuers, as the bank sold a 1 billion-pound ($1.2 billion) AT1 at 6.375% last week after more than 7.5 billion pounds of orders. That compares with 7.125% for a comparable note in June.Sterling borrowing costs are about 2.1%, compared with above 3% at the start of the year, according to Bloomberg Barclays index data. Euro investment-grade yields are below 0.5%, the data show.Royal Mail, the nation’s postal service, will start a roadshow on Sept. 25 ahead of a bond sale in either pounds or euros.“We are taking the opportunity to access finance at the current low rates,” a spokesperson for the London-based company said in an emailed reply to Bloomberg News questions.Still, Metro Bank Plc postponed a pound bond sale on Monday, citing “market conditions”. The lender’s shares have tumbled more than 80% this year after regulators discovered issues with the way it classified loans.Yields Creep UpYields in both euros and sterling have crept up this month, after fairly consistent declines this year, adding extra urgency for any borrower considering a sale. Europe’s traditionally busy September sales surpassed 100 billion euros at a record pace this year.Brexit risks also remain for borrowers and issuers. Uncertainty about the country’s future ties to the EU contributed to the collapse of tour operator Thomas Cook Group Plc. U.K. non-financial companies have also only sold about $60 billion pounds of bonds worldwide this year, the lowest tally since 2016, according to Bloomberg data. Domestic sterling sales are the lowest since 2015, the data show.Domestic-focused companies have taken advantage of pauses in Brexit upheavals to get deals done this year. Retailers Next Plc, Tesco Plc and Co-Operative Group Ltd. all sold pound bonds in a three-week spell ending in May. Marks & Spencer Group Plc followed in early July.Morrison, the country’s fourth-largest supermarket chain, plans to offer a sterling-denominated benchmark twelve-year bond following meetings in London on Monday. The company didn’t reply to an e-mailed request for comment on the bond sale.Across Europe, “it makes sense for companies to take advantage of the current window to issue bonds, said Ryan Staszewski, senior portfolio manager, investment grade credit at Columbia Threadneedle Investments.(Updates with Metro Bank postponing bond sale in 10th paragraph)\--With assistance from Alice Gledhill.To contact the reporter on this story: Priscila Azevedo Rocha in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Hannah Benjamin at email@example.com, Neil Denslow, V. RamakrishnanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Retailer Next has made a "disappointing" start to autumn trading which it said was down to unusually warm weather in parts of Britain, rather than shoppers holding back on buying new clothes due to uncertainty over Brexit. While it did not give figures, Next said "the warm start to September has done much more to hinder sales than the political temperature" and it has not seen any evidence that shoppers are holding back on small ticket price items due to Britain's planned exit from the European Union next month. UK retailers, including supermarkets Asda and Morrisons and home improvement group Kingfisher, have said uncertainty around Brexit was affecting their customers.
The discounter has gained 618,000 more shoppers in the past year, while the biggest supermarket chains are losing customers.
* No evidence consumers building up stocks * Sainsbury's shows smallest sales decline of big four * Discounters Aldi and Lidl win market share from big four (Recasts with Kantar comments) LONDON, Sept 17 (Reuters) - There is no evidence that Britons worried about the possibility of a disorderly departure from the European Union on Oct. 31 are stockpiling essential products, market researcher Kantar said on Tuesday. "As we move closer to 31 October, it seems talk about stockpiling might be just that, because we’re not seeing any evidence of it at the moment," Kantar said. Kantar's data showed Sainsbury's recorded the smallest sales decline of Britain's big four supermarket groups in the latest 12-week period, indicating a tentative recovery after a prolonged period of underperformance.
British online supermarket Ocado could start home deliveries of the full Marks & Spencer range before next September, ahead of their joint venture's original deadline, it said on Tuesday. Ocado and M&S completed the 1.5 billion pound ($1.9 billion) joint venture deal in August, creating Ocado Retail and signalling the end of Ocado's supply contract with upmarket supermarket chain Waitrose in September 2020. "There is a chance we might bring forward, at least partially bring forward, that transition date," Ocado finance chief Duncan Tatton-Brown told reporters.
Morrison Supermarkets (LON:MRW) is a large cap in the Food amp;amp; Drug Retailing industry. Alongside its supermarket operations, Morrison also has food manu8230;
German discount supermarket group Aldi plans to pump 1 billion pounds ($1.25 billion) into Britain, chasing market share at the expense of profit, which dropped by 26% last year as it pursued sales growth, store openings and new customers. Britain's fifth biggest supermarket, which is privately owned by Germany's Aldi Sud, signalled no let-up for its larger rivals as it reaffirmed a commitment to investing in the UK, despite a low price pledge denting its 2018 profit. Aldi UK, which trades from about 840 stores and has a grocery market share of 8.1%, said sales increased 11% in 2018 and it gained 800,000 new customers.
* Euro zone stocks hit highest since July 25 after ECB rate cut, restarts QE * STOXXE benchmark now up 0.6% * Euro zone banks fall 0.3% as tiering euphoria fades * Morrison up on results, AB Inbev gains on unit IPO plan * European stocks also boosted briefly by positive report on U.S.-China trade Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org ECB ROUND-UP: LOWER FOR LONGER, OR EVER?
* Euro zone stocks hit highest since July 25 after ECB rate cut, restarts QE * STOXXE benchmark now up 0.4% * Euro zone banks fall 0.2% as tiering euphoria fades * Morrison up on results, AB Inbev gains on unit IPO plan * European stocks also boosted briefly by positive report on U.S.-China trade Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com WHY ITALIAN BANKS ARE OUTPERFORMING: IT'S THE SPREAD BABY! (1514 GMT) Italian banks are once again moving out of synch compared to their European peers which are having a rollercoaster session as the market digests measures to help the sector to limit the damage from negative interest rates.
* European shares rise, hit highest since July 29 * ECB unveils rate cut, restarts QE * Euro-zone benchmark up 0.6% * EZ banks fall 0.5% as tiering euphoria fades * Morrison up on results, AB Inbev gains on unit IPO plan * Wall Street set to open higher on tariff delays Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org ECB: THUMBS DOWN FROM BANKS (1326 GMT) Markets are giving a positive response to the package of measures the ECB has unveiled today but banks have taken a turn to the downside, falling as much as 2.6% on the day. With measures to ease the pain of sub-zero interest rates already baked-in, investors have turned their attention to lower for longer interest rates.
* STOXX 600 hits highest since July 29 * ECB unveils rate cut, restarts QE * Euro-zone benchmark up 0.5% * EZ banks nearly flat after jumping 1.7% * Trade war hopes lift Asian shares * Morrison up on results, AB Inbev gains on unit IPO plan Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com MIXED REACTION TO ECB (1310 GMT) ECB's Draghi has delivered it ... sort of. A 10 bps rate cut, new round of bond purchases and tiered deposit rates were the highlights of today's ECB monetary policy statement.
Britain is unlikely to run out of essentials like toilet paper in the event of a no-deal Brexit but some fresh fruit and vegetables could be in short supply and prices might rise, warned supermarket bosses on Thursday. Retailers John Lewis and Co-Operative Group and the government's reluctant publication of a report late on Wednesday, shed light on what shoppers might expect to find, or not find on supermarket shelves after October 31.
Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org POSTCARD FROM NY:'VERY UNDERWEIGHT' ON EUROPEAN BANKS (0837 GMT) While banks were staging one of their strongest rallies in many years this week, Barclays travelled to New York for its global financials conference. It may not be a surprise but the gathering provided more evidence of how investors are bearish on European banks. "Investors overwhelmingly say they expect European financials to underperform the market over the next 12m with 53% expecting that vs. 24% expecting outperformance, which is very consistent with positioning, with almost 69% being either very or modestly underweight the sector a similar proportion to the 66% we saw last year," say analysts at the UK bank.
* European shares open higher * STOXX 600 at highest since July 29 * ECB set to unveil fresh stimulus measures * Trade war hopes lift Asian shares * Morrison up on results, AB Inbev gains on unit IPO plan Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com RECIPE FOR SUCCESS: DON'T GO TOO BIG OR TOO SMALL (0821 GMT) The FTSE 250 midcap index, which has a mix of both international and domestic flavour, has been a clear winner in London in the last 2-months amid the Brexit crisis. As the sterling was jumping around on Brexit headlines over the last few weeks, export-heavy FTSE 100 benefitted every time the pound fell sharply and lost those gains when pound recovered, while the domestically focused small caps lost out on worries about domestic economy in case of a no-deal Brexit.
London's blue-chip index ended in the black on Thursday as trade concerns were soothed by a two-week U.S. tariff reprieve on Chinese imports and Morrisons jumped on upbeat profit and forecast. The FTSE 100 index was in and out of negative territory through the session but ended 0.1% higher, boosted by a 1% rise in tobacco giant BAT after layoff plans that offset losses in oil majors BP and Shell. The main index earlier touched a more than one-month high, helped by gains in global miners such as BHP and Anglo American after U.S. President Donald Trump agreed to delay increasing tariffs on $250 billion worth of Chinese imports.
Amazon and Morrisons have agreed to extend a partnership which already allows customers to order their shopping from the smallest of Britain's big four supermarket groups and have it delivered by the U.S. online giant. Periodically mooted as a possible bidder for Morrisons, Amazon has been slowly extending its food service in Britain, but market research firm Kantar Worldpanel estimates its market share is so far less than 1%. The new Amazon agreement was for "a number of years rather than on a rolling basis, and will be exploring new opportunities to innovate and improve the shopping experience," Bradford, northern England, based Morrisons said.