|Bid||2.5550 x 925900|
|Ask||2.5750 x 806000|
|Day's range||2.5640 - 2.5960|
|52-week range||2.1920 - 3.1060|
|Beta (5Y monthly)||0.37|
|PE ratio (TTM)||17.44|
|Forward dividend & yield||0.10 (3.90%)|
|Ex-dividend date||21 May 2020|
|1y target est||N/A|
Tesco <TSCO.L>, Britain's biggest supermarket group, plans to launch a 13th Jack's store, indicating commitment to growing the discount format despite pulling the plug on a store last year. The group said it wants a Jack's to take over a vacant Mothercare <MTC.L> store in Kingston, Hull, in northern England, and has submitted plans to the local council. "We are always looking for potential sites for new Jack’s stores and these applications are part of this process," said a Tesco spokeswoman.
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.
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.
Kantar data also shows supermarket shoppers spending 50% more in store, and online grocery sales up 75%.
M&S has furloughed thousands of staff and expects the coronavirus to wipe £1.5bn off revenue as clothing sales have collapsed with stores shut.
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.
Aldi will trial home delivery from its Daleside Road store in Nottingham and expand to the East Midlands from June if successful.
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.
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.) The World Health Organization's emergencies expert Mike Ryan has said it: "This virus may never go away." Yes, Fed chairman Jerome Powell ruled out negative interest rates but his suggestion that the Fed's firepower may not be sufficient to avert deep damage has spooked markets. Wall Street's three major indexes closed lower for the second day in a row after Powell spoke but there were other, possibly bigger, sources of concern too, not least the risk of a Trade War II – more belligerent tweets from President Donald Trump on China.
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.
News of fresh clusters in China and South Korea and the R-rate crawling back above the 1 threshold in Germany cast some doubt over hopes of a swift V-shaped recovery. European equities got a sombre lead from Asia where Hong Kong slipped 1.4% while indexes in Japan and South Korea also suffered. The dollar is clinging to recent gains, also benefiting from Fed officials downplaying the prospect of following the ECB and BoJ into negative rates, while fixed income markets in Europe hovered broadly flat ahead of bond sales in German and the Netherlands.
In-store sales are surged 10% since the lockdown but petrol sales have collapsed 70%, putting pressure on Morrisons' business.
British supermarket group Morrisons on Tuesday reported a 5.7% rise in group like-for-like sales in its latest quarter, with demand boosted by the country's coronavirus lockdown. Morrisons, Britain's fourth largest supermarket group after Tesco, Sainsbury's and Asda, said retail sales rose 5.1% in the 14 weeks to May 10, its fiscal first quarter, while wholesale revenue increased 0.6%.
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.
The views expressed are her own.) Disney is planning to open its Shanghai theme park on May 11 - good news for a company that suffered a Q1 earnings drop of $1.4 billion. It will be one of the many businesses pinning hopes on China to lead the global recovery in demand for goods and services. Elsewhere on the newswires though, we have economic recession, weak company earnings, Sino-U.S. tensions and a mounting coronavirus death toll.
A late bounce on Wall Street over optimism that New York could come out of its lockdown by mid-May and crude oil futures staging a recovery saw concerns over tensions between Washington and Beijing fade into the background on Tuesday. The U.S. daily coronavirus death toll coming in below 1,000 for the first time in over a month thanks to a drop in New York numbers spurred risk appetite, with U.S. and euro zone bond benchmark yields grinding higher and the dollar index snapping a two-day winning streak. Many won't notice if the judges, as expected, don't stand in the way of the ECB bond buying, which amounts to nearly 3 trillion euros with another 1 trillion on the cards.
The Tesco (LON:TSCO) share price has risen by 5.77% over the past month and it’s currently trading at 236.9. For investors considering whether to buy, hold or8230;
Optimism over the re-opening of economies and the slowing of COVID-19 infections rates has been strangled by Donald Trump. Secretary of State Mike Pompeo added his voice to that of his boss in saying the novel coronavirus was likely manufactured in a lab in Wuhan. President Trump said tariffs would be "the ultimate punishment" for China, threatening to rekindle an 18-month long trade war that ended only in January.
There are only a handful of bargain FTSE 100 shares that are worth buying, and the Tesco share price could be one of these rare investments, I feel. The post Looking for bargain FTSE 100 shares? I think the Tesco share price looks cheap appeared first on The Motley Fool UK.
FACTBOX-Latest on the worldwide spread of the new coronavirus After April finished with a whimper on stock markets, the new month has come in similarly weak. Threatening to make a bad situation worse is President Donald Trump, who has weighed in with a threat to impose new trade tariffs on China in retaliation for coronavirus. With the U.S. election campaign likely to get into full swing in coming months, Trump might up his anti-China rhetoric -- he says he was confident the virus originated in a Chinese lab.