Tuesday broker round-up - UPDATE
21st Feb 2012 09:00
Admiral: Nomura reiterates buy recommendation and 1,100p target; Credit Suisse upgrades to outperform from neutral, lifts target from 1,100p to 1,300p. Morrison: Goldman Sachs adds to conviction sell list. Petropavlovsk: Nomura upgrades from reduce to neutral, target upped from 860p to 910p. Aber
Read moreLondon open: Stocks slip after Greek bailout approval
21st Feb 2012 08:19
- Eurogroup approves Greek bailout. - Euro strengthens after announcement. - Footsie slips early on with oil stocks weighing on index. Despite Eurozone finance ministers doing what many had expected by approving the next tranche of aid for Greece, the Footsie opened moderately lower on Tuesday morn
Read moreLondon close: Markets waiting on Greece
6th Feb 2012 16:25
- Glencore and Xstrata merger may face regulatory probe. - Board room bust-up at Bumi unnerves Nomura. - Snow fun's no fun for airlines. As the market waited - once again - for Greece to agree on a package of austerity measures that will secure another tranche of aid, investors took the precaution
Read moreFTSE 100 movers: Glencore leads the way down
6th Feb 2012 14:34
Glencore International was the worst performer, followed not far behind by Xstrata, both of which were pulling back after last week's strong rise - the two commodities giants are currently in talks regarding a merger. US broker Jefferies announced today that the potential combination would be a "w
Read moreLondon midday: Miners drag Footsie lower as Greek crisis continues
6th Feb 2012 11:58
Losses were pared by midday, but London's blue chip index remained firmly in the red with Greek talks continuing to weigh on sentiment. Meanwhile, US stock futures were pointing to a weak start on Wall Street. After a meeting last night between the three parties of Greece's coalition government, Pr
Read moreLondon open: Stocks slip as Greek deadline looms
6th Feb 2012 08:35
UK stocks fell on Monday morning, pulling back following the strong end to last week, with Greece once again in focus as government talks enter a critical stage. After a meeting last night between the three parties of Greece's coalition government, Prime Minister Lucas Papademos announced that they
Read moreLondon close: Footsie breaks 5,900 as US jobs data excites
3rd Feb 2012 16:58
The much-anticipated January employment report from the US Labor Department didn't disappoint, with a better-than-expected increase in non-farm payrolls sending the FTSE 100 vertical in afternoon trading to break through the 5,900 level. The world's largest economy created 243,000 new jobs last mon
Read moreFTSE 100 movers: Admiral leads the way higher
3rd Feb 2012 13:17
Insurance group Admiral jumped into the top spot after extending its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re until 2014. "Reinsurance has been at the core of Admiral's successful business model since 2000 and we look forward to continuing o
Read moreLondon midday: Admiral leads the rise ahead of US data
3rd Feb 2012 12:03
Stocks were up at the day's best levels by lunchtime following a subdued start, with insurance outfit Admiral leading the charge. Miners on the other hand, are providing a drag, pulling back from their strong showing yesterday on the back of heightened M&A speculation in the sector. Markets were gi
Read moreLondon open: Stocks flat ahead of US data, Admiral jumps
3rd Feb 2012 08:31
London's blue chip stocks were broadly flat in early trading on Friday, with investors cautious ahead of some key non-farm payroll data due out in the US later today. In domestic news, the National Institute of Economic and Social Research (NIESR) predicts that the UK may fall back into recession t
Read moreLondon pre-open: Cautious start ahead of US data
3rd Feb 2012 07:25
City sources predict the FTSE 100 will open down around 9 points from yesterday's close of 5,796, ahead of Friday's non-farm payrolls data, the first major US economic indicator relating to the month of January. Telecoms giant BT saw revenue fall 5% in the third quarter, while profits jumped 48%.
Read moreAdmiral extends reinsurance arrangements
3rd Feb 2012 07:07
Admiral is extending its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re until 2014. "We are happy to announce these extensions to our underwriting arrangements into 2014," said Chief Executive Officer Henry Engelhardt. "Reinsurance has been at t
Read moreLondon midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
Read moreThursday newspaper round-up: China, UK recession, Vodafone, Admiral
15th Dec 2011 06:55
China's credit bubble has finally popped. The property market is swinging wildly from boom to bust, the cautionary exhibit of a BRIC's dream that is at last coming down to earth with a thud. It is hard to obtain good data in China, but something is wrong when the country's Homelink property website
Read moreLondon close: Footsie finishes flat on euro concerns
6th Dec 2011 16:53
The Footsie finished flat on Tuesday, as some worrying comments on the Eurozone by ratings agency Standard & Poor's continued to weigh on sentiment. The index traded within a narrow range of just 51 points today, with investors likely to stay cautious ahead of a pivotal EU summit scheduled at the e
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