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Pin to quick picksTate & Lyle Share News (TATE)

Share Price Information for Tate & Lyle (TATE)

London Stock Exchange
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Share Price: 712.00
Bid: 710.00
Ask: 711.50
Change: 35.00 (5.17%)
Spread: 1.50 (0.211%)
Open: 676.00
High: 716.50
Low: 676.00
Prev. Close: 712.00
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Sector movers: Food stocks binned after Tate & Lyle profit warning

Fri, 06th Feb 2015 14:49

Tate & Lyle was dampening the food sector in London on Friday after the sweeteners maker disappointed investors with its second profit warning in just four months.Tate & Lyle said it now expects adjusted pre-tax profits for the year ending 31 March to be below previous guidance of £230m-245m.The profit warning, which is the Splenda sucralose manufacturer's third in a year, was blamed on a weaker-than-expected performance in its bulk ingredients division as capacity constraints in the US transportation network led to lower sweetener volumes.Meanwhile, weakened EU sugar prices affected bulk sweetener prices in Europe, and the company experienced a sharp deterioration in ethanol margins near the end of the period.The stock was down 14% at 571.3p by 15:32 on Friday afternoon, nearing its 52-week low of 551.5p reached in December.Mike van Dulken, the head of research at Accendo Markets, said: "Management obviously needs to do something to stir things up and improve current business trends if it wants to sweeten up investors and deliver a genuine share price reversal."Other food producers were also out of favour in London, including Provexis, Devro, Real Good Food, Dairy Crest and Premier Foods.News that Tesco was under investigation could also be hitting sentiment in the food sector on the back of concerns that the supermarket giant has mistreated suppliers. The Groceries Code Adjudicator is looking into whether the company has breached the Groceries Supply Code of Practice."The investigation will consider the existence and extent of practices which have resulted in delay in payments to suppliers," a statement said.Top performing sectors so far todayIndustrial Metals & Mining 1,808.22 +3.55%Banks 4,452.23 +1.46%Life Insurance 8,180.22 +0.66%Industrial Transportation 2,861.07 +0.61%Insurance (non-life) 2,058.02 +0.60%Bottom performing sectors so far todayFood Producers & Processors 7,921.60 -2.15%Mining 14,196.54 -1.85%Tobacco 42,419.59 -1.30%Food & Drug Retailers 3,188.25 -0.91%Automobiles & Parts 8,865.95 -0.89%
More News
3 Apr 2014 08:07

Tate & Lyle Says Recent Year Was As Sour As Expected; Profit Flat

LONDON (Alliance News) - Sweeteners and starches maker Tate & Lyle PLC Thursday said its operating profit for the year just ended will be lower, as sweetener volumes in both of its divisions were held back by a soft US beverage sector. In a trading statement on February 13, the group had sa

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3 Apr 2014 07:44

UK MORNING BRIEFING: Vodafone And Kingfisher Splash Out

LONDON (Alliance News) - UK shares have opened mixed, as markets seem unimpressed by economic stimulus measures announced by China and look ahead to the results of Thursday's European Central Bank meetings.

Ahead of the ECB announcement at 1145 GMT, International Monetary Fund chief

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3 Apr 2014 07:39

London pre-open: FTSE to move higher early on

UK stocks are set to start today's session on a positive note, tracking gains seen in the US ahead of the ECB's latest policy meeting and following positive Chinese services data as per the latest Services Markit/HSBC services purchasing managers index (PMI). City sources predict the FTSE 100 will

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3 Apr 2014 07:10

Tate & Lyle confirms profits broadly in line with last year

- Profit 'broadly in line' with comparatives - US weather hit Bulk Ingredients in Q4 - Speciality Food hit by tougher sucralose market - GBP/USD rate to hit profits by one per cent Already reeling from the profit warning in February resulting from a tougher sucralose market, Tate & Lyle has revelae

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3 Apr 2014 06:45

MARKET COMMENT: UK Stocks To Open Higher With ECB Policy In Focus

LONDON (Alliance News) - UK stocks are set to open slightly higher Thursday, ahead of another busy day of economic data, with the European Central Bank in firm focus as the markets increasingly anticipate a policy shift to stem the rising euro and falling inflation. China announced slew of

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3 Apr 2014 06:44

UPDATE 1-Tate & Lyle says year profits unchanged

(Adds background, comment by analyst) LONDON, April 3 (Reuters) - British food ingredients firm Tate & Lyle PLC expects to report flat earnings for the year just ended, it said on Thursday, due to a dramatic drop in prices of its sucralose sweetener and weak soft drink sales in the United S

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3 Apr 2014 06:19

Tate & Lyle repeats full-year outlook

LONDON, April 3 (Reuters) - British food ingredients firm Tate & Lyle PLC said on Thursday that it still expects flat earnings for the year ended 31 March due to a dramatic drop in prices of its sucralose sweetener and weak soft drink sales in the United States. The company, which sells suc

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2 Apr 2014 16:05

MARKET COMMENT: Stocks Make Small Gains As Deflation Puts ECB Meet In Focus

LONDON (Alliance News) - Stocks in the UK and Europe have closed modestly higher Wednesday, while those in the US also trade just slightly higher, despite an improving trend of US economic data, as markets appear to enter wait-and-see mode ahead of the European Central Bank meeting on Thursday

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2 Apr 2014 05:37

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1 Apr 2014 15:50

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1 Apr 2014 05:10

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31 Mar 2014 15:00

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31 Mar 2014 05:32

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28 Mar 2014 16:02

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28 Mar 2014 12:35

Friday broker round-up UPDATE

888 Holdings: Deutsche Bank lowers target price from 166p to 160p retaining its hold recommendation. Aberdeen Asset Management: JP Morgan cuts target price from 529p to 509p and stays with its overweight rating. Advanced Medical Solutions: Investec shifts target price from 121p to 129p, while down

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