Broker tips: AstraZeneca, Aggreko, Punch
17th Dec 2010 15:05
Panmure Gordon views AstraZeneca's latest setback as a significant buying opportunity, sticking with its forecasts and 'buy' recommendation. The drugs giant was issued with a response from the US Food & Drug Administration (FDA) requesting additional analysis of data on Brilinta, causing a delay fo
Read moreFTSE 100 movers: AstraZeneca disappointment
17th Dec 2010 12:58
AstraZeneca is the worst performer in the Footsie because the FDA has asked for more information about blood-thinning drug Brilinta. This represents a further delay is getting US approval for Brilinta. Gloomy comments by the Bank of England about potential bad debt provisions hit Royal Bank of Sco
Read moreLondon midday: Stocks retreat
17th Dec 2010 12:49
The leading index broke above 5,900 for a short time, but now finds itself stuck in the red as AstraZeneca and the banks offset gains in the property sector. The Bank of England has warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields c
Read moreBroker snap: Aggreko rating 'looks full'
17th Dec 2010 12:20
While Aggreko has upped its full-year profit forecasts, Peel Hunt says that despite the upgrades secured in the year, the shares look up with events. The temporary power and temperature control specialist estimates pre-tax profit for the 12 months ending 31 December will be £305m, compared with th
Read moreLondon open: Flat start for blue chips
17th Dec 2010 08:43
London has started slowly despite the late gains on Wall Street overnight with some gloomy comments from the Bank of England unsettling the mood. The Bank warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields continued to rise. Lloyds an
Read moreLondon pre-open: Flat start expected
17th Dec 2010 07:31
A flat start is expected in London, despite gains on Wall Street last night. A surge in activity in the fourth quarter enabled temporary power and temperature control specialist Aggreko to nudge its full-year profit estimates higher. It now expects a pre-tax profit of around £305m for 2010, up from
Read moreAggreko ups full-year profit forecast
17th Dec 2010 07:04
A surge in activity in the fourth quarter enabled temporary power and temperature control specialist Aggreko to nudge its full-year profit estimates higher. It now expects a pre-tax profit of around £305m for 2010, up from its estimate of £300m in October. Trading was 'better than anticipated' in
Read moreFriday preview: National Express on show
16th Dec 2010 17:12
After a rough 2009, the current year has been much more to the liking of bus and train operator National Express, which brings out a pre-close trading update next Friday. The company said at the interim stage it intends to resume dividend payments as it returned to the black. Since then, transport
Read moreFTSE 100 movers: Miners head higher
7th Dec 2010 13:24
Miners lead the risers with commodity prices heading north. Antofagasta and ENRC are the best of the risers in the mining sector. Xstrata also rose even though it is taking a post-tax impairment charge of about $440m after reviewing the value of its Araguaia nickel project in Brazil. Xstrata has a
Read moreLondon close: Lower finish after weak US jobs data
3rd Dec 2010 16:51
Footsie closed in the red after a sluggish day's trading, with the calm only briefly interrupted by jitters following weak US jobs data in the afternoon. Non-farm payrolls increased by 39,000 during the month, down from a revised increase of 172,000 in October and well short of expectations that ab
Read moreLondon afternoon: Footsie dives on US jobs data
3rd Dec 2010 14:30
Jobs growth slowed sharply in the US in November and unemployment unexpectedly rose, which was not the result the market had been hoping for. The data sent shares on this side of the pond into a dive, and pushed Footsie into the red. Non-farm payrolls increased by 39,000 during the month, down fro
Read moreFTSE 100 movers: Aggreko's US buy
3rd Dec 2010 13:12
Temporary power and temperature control specialist Aggreko is higher following a US acquisition that increases its presence in the oil and gas market. Aggreko is paying $26m for Northland Power Services, a leading provider of power solutions for the oil and gas exploration and production market in
Read moreLondon midday: Shares still sluggish ahead of US jobs figure
3rd Dec 2010 12:10
The strong gains of the past couple of days have given way to sluggishness as traders pause for breath and await US jobs data later in the afternoon. Non-farm payrolls in the world's biggest economy are due at lunchtime. In company news here, mining giant Rio Tinto is to be the junior partner in
Read moreLondon open: Lacklustre start ahead of US jobs
3rd Dec 2010 08:52
Footsie has drifted lower with the freezing temperatures and transport chaos keeping many City folk away from work. All eyes will be on the US non-farm payrolls report at lunchtime, but ahead of that data there has been some profit taking after the big gains of the previous two days. Mining giant
Read moreLondon pre-open: Cautious start ahead of US jobs data
3rd Dec 2010 07:33
London is set to creep higher at the outset but with the eagerly awaited US jobs data due out this afternoon investors look to be reluctant to over commit themselves. City traders expect the FTSE 100 will open up with a single digit rise. Mining giant Rio Tinto is to be the junior partner in a joi
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