Wednesday broker round-up
11th Mar 2015 11:50
Ashtead: Credit Suisse lifts target to 1,300p from 1,220p and reiterates outperform. Cairn Energy: Jefferies lowers target to 172p from 220p and downgrades to hold. RBC downgrades to neutral. Inchcape: Exane BNP reiterates outperform, raises target to 920p from 850p. BG Group: Credit Suisse lowers
Read moreLondon close: Mixed data, weak earnings pull FTSE below 6,900
3rd Mar 2015 16:33
A mixed batch of economic data and weak corporate earnings gave investors the excuse to take profits on Tuesday, as markets continued to retreat from their recent record highs. London's FTSE 100, which had started the day in positive territory, swung sharply into the red by mid-morning and extended
Read moreLondon midday: Stocks pull back as corporate earnings disappoint
3rd Mar 2015 12:08
After coming close to another record high early on, UK stocks flatlined by Tuesday lunchtime as corporate earnings received a cool reaction from investors. The FTSE 100 was down 0.1% at 6,934.70 by midday, pulling back after reaching a high of 6,963.55 early on as Barclays, Glencore, Ashtead and Tra
Read moreLondon open: Taylor Wimpey and Ashtead drive markets higher, Barclays falls
3rd Mar 2015 09:11
The FTSE 100 was closing in on another record high on Tuesday morning as impressive German data and gains from Taylor Wimpey and Ashtead helped markets higher. However, upside was limited as Barclays and Travis Perkins underwhelmed with their annual results, while the heavyweight mining sector inche
Read moreAshtead hikes full year targets as record growth rolls on in third quarter
3rd Mar 2015 07:48
After a strong third quarter of growth in both the UK and US produced a record profit, Ashtead said it expected full year results to be ahead of its previous expectations. The FTSE 100 equipment rental company grew rental revenue 25% to £462.9m in the three months to the end of January, with profit
Read moreLondon close: Stocks end choppy session firmly lower as data disappoints
6th Jan 2015 17:19
It was a volatile day for the UK equity market with stocks swinging between losses and gains for most of the session, with a late sell-off sending the FTSE 100 firmly in the red by the close. Service-sector activity data from across the globe largely came in below expectations with weak figures from
Read moreLondon midday: Stocks weighed down by economic data, oil and Greece
6th Jan 2015 11:49
Disappointing economic data and a continued slide in the price of oil pushed UK stocks firmly into the red on Tuesday, with the FTSE 100 trading at its lowest in three weeks. Ongoing concerns about a Greek exit from the Eurozone were also doing their bit to dampen market sentiment further. "The Gre
Read moreMonday broker round-up
15th Dec 2014 09:29
Ashtead Group: Berenberg raises target price from 1170p to 1345p and keeps its 'buy' recommendation. Aviva: Citi increases target price from 590p to 620p and maintains a 'buy' recommendation. Bellway: Deutsche Bank ups target price from 1760p to 1778p and reiterates its 'hold' recommendation. Berk
Read moreLondon close: UK stocks drop to five-week low as oil sinks further
10th Dec 2014 16:40
UK stocks dropped to their lowest levels in five weeks on Wednesday as turmoil in the oil prices intensified with crude prices sinking to a fresh five-year low. The FTSE 100 erased earlier gains to finish down 0.45% at 6,500. It has not closed below this level since 4 November when it settled at 6,4
Read moreLondon midday: UK stocks rise, but gains only modest after sell-off
10th Dec 2014 12:12
Stimulus hopes in China gave UK stocks a small boost on Wednesday though sentiment was still fragile after a global equity rout sent London's stock market to a one-month low the previous session. The FTSE 100 was up just 0.1% at 6,539. The index dropped over 2% to settle at 6,529.47 on Tuesday, its
Read moreBroker tips: Shell, BP, Ashtead, N Brown
10th Dec 2014 11:49
Deutsche Bank has downgraded its rating for Shell (to 'hold') but upgraded BP (to 'buy') as part of its review of the oil sector in light of the recent plunge in crude prices, now trading at their lowest levels in five years. "In a sector where all are under pressure there are no easy calls. Our bia
Read moreAshtead shares "attractive" on growth prospects, says Berenberg
10th Dec 2014 09:39
Berenberg has repeated its 'buy' recommendation for Ashtead, saying the consensus forecasts should rise after the equipment-rental company's strong first half. Ashtead impressed the market on Wednesday by reporting that underlying pre-tax profit jumped by 33% to a record £265.5m in the six months to
Read moreLondon open: Stocks bounce off one-month low on Chinese stimulus hopes
10th Dec 2014 08:54
UK stocks edged higher on Wednesday after a steep sell-off sent the FTSE 100 to its lowest levels in more than a month. London's benchmark index was up 0.3% at 6,549 early on, after settling at 6,529.47 the previous day. Political uncertainty in Greece and concerns about lending in China hammered m
Read moreAshtead shares jump on record first-half profit, upbeat outlook
10th Dec 2014 08:11
Shares in Ashtead surged on Wednesday after the equipment-rental firm reported a big jump in first-half profits and lifted its full-year expectations. The company said that underlying pre-tax profit jumped by 33% to a record £265.5m in the six months to 31 October. Pre-tax profits in the second qua
Read moreWednesday preview: Ashtead reports, Chinese inflation, UK trade
9th Dec 2014 15:00
Ashtead's second quarter results are expected to reflect strong demand in the US and improving UK markets. Numis forecasts that the equipment rental company will report earnings before interest, depreciation and amortisation (EBITDA) of £234m, up from £193m the previous year. "Ashtead trades on a c
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