LONDON - Tesco issued its first profit warning in living memory on Thursday, sending shares in British grocers tumbling on fears the world's third-biggest retailer would launch a price war to fight back from its worst Christmas in decades. Chief executive Phil Clarke said trading profit in 2012/13 would be flat, compared with forecasts for a 10 percent rise, as Tesco invested hundreds of millions of pounds lowering prices, expanding its online business and improving customer service
LONDON - The FTSE 100 was flat Thursday morning, with retailers lower amid fears of a supermarket price war after market leader Tesco issued a profit warning following its worst Christmas for decades. The FTSE 100 was up 1.06 points, or 0.02 percent, at 5,671.88 by 0943 GMT, supported by financials and miners. Tesco shares were down 14 percent to a 32-month low after the world's third-largest retailer said it would invest in price cuts and its online business to win back sales, leading to minimal profit growth in its 2012/13 year compared with a forecast for a 10 percent rise
US stocks opened the first week of 2012 in the plus zone, helped by optimism about the economic outlook which fueled a strong rally on the first trading day of the year.
LONDON - European stocks ended at a five-month closing high on Tuesday after strong manufacturing data from the United States and China boosted investor confidence and helped shift attention away from the euro zone.
TOKYO - Asian stocks rose on Wednesday as investor risk appetite returned after upbeat U.S. and European economic data improved the global growth outlook, but the euro's gains were short-lived due to deep-set worries over the European debt crisis. MSCI's broadest index of Asia Pacific shares outside Japan rose as much as 0.9 percent to its highest in nearly a month, before trimming some gains to stand up 0.6 percent
US stocks outperformed major markets across the globe in 2011 as the S&P 500 made it past the finish line Friday virtually unchanged after one of the most volatile years on record.
TOKYO - Japanese and Indian stocks outperformed the rest of Asia in thin trade on Monday, with sentiment partly lifted by signs of U.S. economic recovery, although trading was subdued with many markets closed for Christmas holidays. Tokyo's Nikkei stock average ended up 1 percent, above its 25-day moving average of 8,459, while India's main 30-share BSE index rose 1.14 percent, as investors sought holiday-season bargains
Tokyo shares opened slightly softer Tuesday, as players searched for fresh incentives and waited for foreign markets to reopen after Christmas holiday breaks.
