European shares closed down on Wednesday, as the U.S. government shutdown continued and jobs data came in weak.» Read More
J Sainsbury, Britain's No. 3 supermarket chain, met forecasts for underlying sales growth in its first quarter, outperforming major rivals.
Tesco, the world's third-biggest retailer, slipped back to an underlying sales decline in the U.K. in the first quarter, raising doubts about a costly recovery plan for its home market.
U.K. supermarket Morrisons announced it is going into partnership with online delivery service Ocado on Friday.
European shares rose on Thursday, resuming the two-week rally that has propelled indexes to multi-year highs.
Supermarket chain Sainsbury plans to combine cost cuts with expansion in 2013, CFO John Rogers told CNBC Wednesday, with the group determined to lure more cash-strapped consumers to its mid-range supermarkets.
European shares finished in negative territory Monday, but financials helped limit losses after global banking regulators announced a watering down of key elements of their plan for banking rules.
Britain's Tesco, the world's No. 3 retailer, has launched a strategic review of its loss-making United States chain Fresh & Easy.
Oct 11- WM Morrison Supermarkets P L C:. *Espirito Santo Investment Bank cuts morrison to neutral rating; fair. Reuters Station users, click. 1580.
Shares in WM Morrison fall 1.3 percent, topping the FTSE 100 fallers list, after Credit Suisse reduces its rating for Britain's No. 4 grocer to "neutral" from "outperform" on valuation grounds, according to traders. Credit Suisse also cuts its earnings estimates for Morrison by up to 3 percent and lowers its target price to 290 pence from 320 pence.
Oct 11- WM Morrison Supermarkets P L C:. *Credit Suisse cuts Morrison to neutral from outperform; price target. Reuters Station users, click. 1580.
Oct 10- WM Morrison Supermarkets P L C:. *Jefferies cuts WM Morrison price target to 330 p from 350 p; rating buy. Reuters Station users, click. 1580.