Broker tips: ABF, Poundland, Diageo
6th Aug 2015 13:08
(ShareCast News) - UBS downgraded Associated British Foods to 'neutral' from 'buy' and removed the stock from its 'key call' list, saying the valuation now reflects near-term US upside, but raised the price target to 3,180p from 3,050p as it rolls forward its estimates. It said the success of Primar
Read moreUBS cuts AB Foods to 'neutral' on valuation, removes from 'key call' list
6th Aug 2015 11:06
(ShareCast News) - UBS downgraded Associated British Foods to 'neutral' from 'buy' and removed the stock from its 'key call' list, saying the valuation now reflects near-term US upside, but raised the price target to 3,180p from 3,050p as it rolls forward its estimates. It said the success of Primar
Read moreSugar stockpile price fall hits hedge funds, as rally hopes quashed
20th Jul 2015 13:17
(ShareCast News) - Huge world stockpiles of sugar have led to falls in sugar prices that have hit hedge funds in particular and led analysts to warn that prices are unlikely to rebound for a while. On the ICE futures exchange, sugar for October delivery was on Monday trading down 3.2% on the previou
Read moreFood retailers defend sugar record after SACN report slashes sugar guidance
17th Jul 2015 10:38
(ShareCast News) - A government-backed report on carbohydrates has called for the British recommended daily allowance of sugar to be cut in half, which has forced retailers to robustly defend their efforts to cut the sugar content and calorie counts of their products. As expected, the Scientific Adv
Read moreSugar consumption guide set to halve in government's SACN report
16th Jul 2015 15:21
(ShareCast News) - Sugar producers and sweet food manufacturers are soon to be hit by a halving of the government's recommended sugar intake levels, according to reports. A report on carbohydrate consumption by the Scientific Advisory Committee on Nutrition (SACN), which advises Public Health Englan
Read moreLondon close: Footsie bounces back, small caps underperform
9th Jul 2015 16:50
A motley assortment of airlines, financials and homebuilders paced gains on Thursday, after a bounce in Chinese stockmarkets relieved some of the recent selling pressure. Nevertheless, China and Greece were not far from traders' minds, particularly the latter ahead of fresh reform proposals from of
Read moreThursday broker round-up
9th Jul 2015 16:22
Ashmore: RBC keeps at underperform. Aggreko: Exane reiterates underperform recommendation and 1,250p target. Anglo American: Investec stays at hold on the miner's South African-listed shares. Associated British Foods: Credit Suisse stays at outperform and sets a target price of 3,250p. Barclays:
Read moreFTSE 100 movers: Barratt and AB Foods gain on updates, Prudential lifted by Goldman note
9th Jul 2015 15:41
London's FTSE 100 was on the front foot on Thursday, with cyclical stocks such as miners and banks in the black. Rio Tinto, Antofagasta and BHP Billiton all gained following a rebound in Chinese stock and metal prices. Elsewhere, Barratt Development rebounded from heavy losses in the previous sessi
Read moreNomura cuts AB Foods price target; says valuation is stretched
9th Jul 2015 14:27
Nomura cut its price target for Associated British Foods to 2,815p from 2,850p. It said the company's latest trading update, released earlier on Thursday, was broadly in line with expectations, with visibility improving and greater margin certainty supporting the shares. However, Nomura said the va
Read moreLondon open: Miners pace gains as Shanghai stocks bounce
9th Jul 2015 08:46
Miners led the top flight index higher thanks to an overnight bounce in Chinese equities, and as traders awaited fresh reform proposals out of Athens, due by midnight. As of 0836 BST the FTSE 100 was higher by 42.18 points to reach 6,532.06, while the Shanghai Stock Exchange's composite index closed
Read moreAB Foods suffers flat revenues as Primark like-for-likes disappoint
9th Jul 2015 07:07
Revenues were flat at Primark owner Associated British Foods in the 40 weeks to 20 June, but up 2% against the same period last year if currency moves are ignored. An 8% increase in stores selling space helped sales at Primark rise 9%, or 13% at constant currency rates, although like-for-like sales
Read moreRBC cuts AB Foods to 'sector perform', says valuation up with events
23rd Jun 2015 09:27
RBC Capital Markets downgraded Associated British Foods to 'sector perform' from 'outperform' saying the valuation is up with events. "We continue to think Primark offers investors a relatively rare early stage international roll-out story. However ABF is lacking earnings momentum, the US apparel ma
Read moreLondon open: Stocks continue to advance on Greek hopes
23rd Jun 2015 09:08
UK stocks advanced again on Tuesday morning, extending the strong rally seen the previous session as hopes over a short-term funding deal for Greece continued to increase. The FTSE 100 was up 0.18% at 6,837.85 after a 1.7% jump on Monday. Optimism surrounding Athens picked up on Monday following a
Read moreSector movers: Supermarkets and food retailers nudge London market higher
10th Jun 2015 15:57
Healthy trading in supermarket and food related stocks led the London market back into the green on Wednesday. The blue chip FTSE 100 closed up by 1.13% or 76.47 points at 6,830.27 points having been greeted by positive news from supermarkets. Market leader Tesco (up 4.63%) saw its shares surge on r
Read moreAB Foods initiated at 'buy' by HSBC on Primark US launch
5th Jun 2015 08:11
HSBC initiated coverage of Associated British Foods at 'buy' with a 3,680p price target, pointing to the growth potential of Primark. "Primark's entry into the US could herald a much faster roll-out of space than has been seen in Europe," said HSBC. It expects AB Foods' EPS to rise by 97% in the fiv
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