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Wednesday, April 22, 2015

FTSE 100 falters on interest rate concerns and Tesco's record loss

Investors nervous about outlook amid UK election and Greek talks Leading shares ended the day lower despite a positive start, with Tesco hit by its worse than expected £6.4bn loss and renewed talk of interest rate rises in both the UK and US.Among the fallers Standard Chartered lost 16p to £10.49 after Credit Suisse issued a downbeat note, cutting its price target from 880p to 850p. It said:Ahead of the interim management statement [on 28 April] we have cut 2015/2016/2017 estimated underling earnings between 9-15%... The company is now prioritising building capital by holding back growth, but we think that gives up future earnings. The risk/reward still looks unattractive, and we remain underperform as we expect new management to significantly restructure the balance sheet and capital. Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com