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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

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Beaufort Securities Breakfast Alert: Tesco

Today's edition features:

Tesco (LON:TSCO)

Markets

Europe

The FTSE-100 finished yesterday's session 0.90% higher at 7,438.84 whilst the FTSE AIM All-Share index was up 0.40% at 1,008.29. In continental Europe, the CAC-40 finished 0.39% higher at 5,350.44 whilst the DAX was up 0.58% at 12,902.65.

Wall Street

In New York last night, the Dow Jones closed 0.68% higher at 22,557.6, the S&P-500 climbed 0.39% to stand at 2,529.12 and the Nasdaq added 0.32% to end the session at 6,516.72.

Asia

In Asian markets this morning, the Nikkei 225 was 0.85% higher at 20,574.26, while the Hang Seng resumed trading after a public holiday broadly unchanged at 28,110.33.

Oil

In early trade today, WTI crude was 0.26% lower at $50.45 per barrel and Brent was down 0.37% at $55.91 per barrel.

Headlines

Equifax raises the impact of US data breach

Equifax has revealed 2.5 million more Americans than previously thought may have had information compromised in a huge cyber security breach at the firm. The credit report giant said on Monday about 145.5 million of its US customers might have been affected, up from a previous estimate of 143 million. The update came a day before former boss Richard Smith testifies in Congress about the attack. Mr Smith apologised ahead of the hearing for the firm's failings. Critics say the company failed to take proper steps to guard information - such as Social Security numbers, birth dates and addresses - and waited too long to inform the public. Equifax disclosed the attack last month, estimating that about 400,000 Britons and 100,000 Canadians may also have had data compromised. On Monday, the firm raised its estimate for US customers, but lowered it to only 8,000 Canadians after further investigation.

Source: BBC News

Latest Video

On Thursday, 28th September 2017 Leon Coetzer, CEO and Colin Bird, Non-Executive Chairman of Jubilee Platinum (JLP.L) presented an update on the company at the Beaufort offices. Click here to see the interview.

Beaufort Securities acts as corporate broker to Jubilee Platinum PLC

Company news

Tesco (LON:TSCO, 188p) – Buy

Tesco will report its Interim FY-18 results on 4 October (tomorrow). We look for revenue of around £28billion, representing Y/Y growth of some 3.2% and Net Income of £366m, up 52% on the same period last year. Trading has clearly improved at Tesco and this should allow it to commence payment of a small (around 3p per share) Interim dividend. Should this be the case, it will signal management's confidence in the future and imply that next year a full year dividend of perhaps 6p per share is likely, which would put Tesco on a prospective dividend yield of some 3.2%. News on the Booker Transaction would also be welcome. We reiterate our BUY recommendation with target price of 210p. Click here to see the full research note

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