Glaxosmithkline Share News (GSK)

The pricing gap between Tesco and rival supermarket Asda was the highest in two years in June, according to Morgan Stanley.The latest results of the broker's AlphaWise UK Food Retail Price Tracker show that its sample basket was 5.2% less expensive at Asda than at Tesco last month. Morgan Stanley has kept its 'underweight' rating for UK-listed stocks Tesco and Morrison, but maintained an 'overweight' stance on Sainsbury.More seasonal weather and a soft comparison base are expected to boost second-quarter sales and margins at DIY retailer Kingfisher, according to Jefferies which reiterated its 'buy' rating and 400p target price for the stock.Jefferies expects sales growth of around 6.0% in the second quarter. Comparatives with last year are "usefully weak" as gross margins in Britain suffered from poor weather and a mixed execution of clearance ahead of category relaunches last year.Panmure Gordon has kept its 'hold' rating for AG Barr but said that a deal to buy GlaxoSmithKline's (GSK) soft drinks brands could be the catalyst needed for it to turn more positive.According to The Sunday Times, AG Barr could be teaming up with Private Equity (PE) to buy GSK's brands Lucozade and Ribena for around £1.0bn. Panmure said that rationale for the deal from AG's point of view is good as it gives it access to export markets and entry into the sports drink sub-category (via Lucozade), as well as adding a dilute and a range of ready-to-drink products to its portfolio (via Ribena). Also, cost savings could be "quite significant", the broker said.BC