UK shoppers have turned their backs on traditional U.K. supermarket chains in favor of discount German retailers.» Read More
European stocks surged to close almost 3 percent higher after ECB chief Draghi reiterated the central bank was ready to start "full-blown" QE.
Embattled Tesco reported that sales fell over the Christmas period and announced that it would not be paying a final dividend this year.
Europe shares ended higher on Wednesday with investors anticipating more stimulus by the European Central Bank (ECB).
LONDON, Jan 7- Strong demand for premium foods and clothing helped British grocer J Sainsbury to beat Christmas sales forecasts, though it continued to lose market share to discounters and warned of another tough year for mainstream supermarkets. The company, which trails troubled market leader Tesco and Wal-Mart Stores' Asda by annual sales, said on Wednesday...
Sales at U.K. supermarket J. Sainsbury fell in the last three months, the company said on Wednesday, after a tough Christmas for Britain's grocers.
Christmas comes just once a year – but the problems affecting the big U.K. supermarkets are expected to linger all year long.
*UK retail sales beat forecasts to rise 6.4 pct y/y in Nov. *GRAPHIC: UK retail sales http://link.reuters.com/raz24v. The Office for National Statistics said the volume of goods bought at British stores last month jumped by 6.4 percent from November 2013.
European shares closed sharply lower on Tuesday as a slide in Chinese and Greek equities weighed on investor sentiment.
European shares closed lower on Monday, with construction stocks continuing to weigh heavily after Wall Street opened down.
U.K. activist investment fund Crystal Amber is in talks with investors about buying shares in Sainsbury's, The Sunday Telegraph newspaper said.
European shares closed flat on Tuesday as investors digested revised third quarter GDP data from the U.S.
The U.K. grocery market has fallen into decline for the first time on record, as discount retailers lead a price war.
*Economic growth to be uncertain, UK divs to fall- Henderson. The report pointed to an uncertain economic growth picture next year and said that one reason for slower growth would be the absence of Vodafone's record $26 billion payout from selling its Verizon Wireless stake. We expect total dividends from the UK to be down by more than $20 billion next year. "
*Italy's FTSE MIB underperforms wider market. The utilities index fell 2.4 percent, the biggest sectoral decliner, led by a 5.9 percent drop in Italy's Enel after it lowered its debt-reduction target for 2014 and reported a drop in nine-month core earnings. This shows that the underlying problems for the market are still very much intact, "said Gerhard Schwarz,...
European shares closed lower on Wednesday, with investors shunning banking stocks after regulators announced penalties.
The utilities index fell 2.4 percent, the biggest sectoral decliner, led by a 5.7 percent drop in Italy's Enel after it lowered its debt-reduction target for 2014 and reported a drop in nine-month core earnings. Germany's top utility E.ON fell 4 percent after posting a steep drop in profits at its business in Russia, its most important foreign market.
*HSBC, RBS, UBS, Barclays in focus after forex probe fines. LONDON/ PARIS, Nov 12- European shares fell on Wednesday, with financials hit after global regulators fined five banks for failings in currency trading, while supermarket chain J. Sainsbury dropped after announcing plans to cut prices. The European banking index slipped 1.3 percent after global regulators...
*Corporate updates knock UK retailers. LONDON, Nov 12- European shares and core bond yields fell on Wednesday, bucking a strong performance in Japan, with bank stocks under pressure following a landmark $3.4 billion settlement over allegations of price-fixing in currency markets. Regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC,...
*HSBC, RBS, UBS, Barclays in focus after forex probe fines. The regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC, Royal Bank of Scotland and JP Morgan. HSBC was down 0.9 percent and RBS dipped 0.2 percent, while the Frankfurt- listed shares of JPMorgan and Citi were down 0.6-0.9 percent.
Supermarket chain Sainsbury's reported half-year underlying pre-tax profit fell 6.3 percent to £375 million ($596.8 million).