Market Pulse
Sunday newspaper round-up: Sainsbury-Home Retail, RBS, IHG, Ladbrokes
As Tuesday's takeover deadline approaches, Sainsbury's has made a bid of 150p per share for Argos owner Home Retail Group, which is shy of the 170p apparently being demanded. The Sunday Telegraph cited sources that suggested a middle-ground 160p bid would be enough to announce the deal and gain a deadline extension to win over wavering shareholders.
Sunday newspaper tips: Ocado, Satellite Solutions, BHP Billiton, Rio Tinto
Sell shares in Ocado, said the Sunday Times' Inside the City column, as it has failed to deliver its long-promised deal to license out its online grocery technology to an overseas supermarket. Of course such a deal could still appear and help stop the shares' decline. However, it would require more than one in the long-run as, after falling to 264. 1p on Friday, Ocado is trading at around 19 times earnings, considerably more than double the grocery sector average.