Broker snap: ASOS's rating becoming stretched
23rd Apr 2010 13:06
FinnCap has initiated coverage of stock market darling ASOS with a 'sell' recommendation, setting it apart from all but one of 15 other brokers that cover the stock and which either rate it as a 'hold' (five brokers) or a 'buy' (nine brokers). Finncap attributes the enthusiasm for ASOS to the fact
Read moreLondon close:Equities advance on broad front
20th Apr 2010 17:11
London brought its two day losing streak to an end today, despite a mixed reception to the day's major company announcements and a disappointing set of inflation figures. A sharp rise in fuel costs was responsible for much of the acceleration in the inflation rate, which climbed to 3.4% from 3% in
Read moreLondon afternoon: Tesco heads small band of fallers
20th Apr 2010 14:13
The blue-chip index shuffled sideways over the lunch time session with not even expectations of a firm opening on Wall Street encouraging buyers to commit further. Earlier in the day sentiment had received a knock from worse than expected inflation data. A sharp rise in fuel costs was responsible f
Read moreBroker tips: Ferrexpo, ASOS, Thorntons
20th Apr 2010 13:39
Morgan Stanley has initiated coverage of Ferrexpo with an 'overweight' recommendation for the Ukraine-based miner. The miner's London listing offers investors an opportunity to gain exposure to iron ore prices, Morgan Stanley argues, adding that vertical integration allows Ferrexpo to process all t
Read moreBroker snap: Overseas focus for ASOS
20th Apr 2010 13:28
KBC Peel Hunt is maintaining its 'wait-and-see' attitude on online retailer ASOS but sees scope for revenue upgrades as sales momentum builds in the retailer's key territories. "ASOS remains one of the few genuine organic retail growth stocks, with further progress to be delivered in the UK and ove
Read moreLondon midday: Equities resume upward trend
20th Apr 2010 12:15
Worse than expected inflation figures gave the market pause for thought but leading equities have since recovered their poise and ended the morning session on an upward trend. A sharp rise in fuel costs was responsible for much of the acceleration in the inflation rate, which climbed to 3.4% from 3
Read moreLondon open: Footsie makes bright start
20th Apr 2010 08:49
Footsie has moved higher as retailers come into focus on a busy day on the company news front. Tesco reaffirmed its position as the UK's supermarket powerhouse as profits last year surged to nearly £3.2bn with underlying growth of more than 10%. Total sales in the year to end February rose by 6.8%
Read moreASOS more confident after April pick-up
20th Apr 2010 07:29
Online fashion store ASOS's sales continued to slow in the final weeks of the year to March, though a pick-up in April means it is now more confident over 2010 than previously. "The new year has started very positively, retail sales are up 56% in April (UK +25% and International +148%)," chief exec
Read moreTuesday tips round-up: Bunzl, Asos, Pennon
19th Jan 2010 06:42
Boring it may be, but Bunzl ? the distributor of carrier bags, plastic cutlery, protective masks and thousands of other disposable items for grocers, cleaners and caterers ? is one of the stock market's best barometers. Left to its own devices, its sales can be relied upon to grow just ahead of GDP,
Read moreLondon close: Good gains for FTSE 100
18th Jan 2010 16:33
Footsie finished the day in the blue despite a sharp reversal in the fortunes of International Power, which earlier had soared on speculation of a takeover by French power giant GDF Suez. Shares in the energy company slid from their earlier highs after it admitted it held talks with GDF Suez about
Read moreLondon afternoon: Stocks keep climbing
18th Jan 2010 14:49
Ongoing bid speculation, stronger retailers and buoyant miners have pushed London above 5,500. International Power is top of the pile on press reports that French power giant GDF Suez has made a takeover approach to the group, but there has been no statement from either side over the truth of the s
Read moreSector movers: Retail recovers
18th Jan 2010 13:13
The retail sector has recovered slightly from falls last week when the market gave a stream of updates a generally frosty reception. Today's gains come in spite of a fall in the value of online fashion retailer ASOS's share price. ASOS enjoyed a good Christmas with both sales and margins strong an
Read moreLondon midday: Good morning for blue chips
18th Jan 2010 12:20
London's leading share index has enjoyed a good morning on hopes of a bid for International Power and a higher offer for Cadbury. IP is up nearly 5% after press reports that French power giant GDF Suez has made a takeover approach to the group, but there has been no statement from either side over
Read moreBroker tips: FirstGroup, BHP Billiton, Asos
18th Jan 2010 11:44
Subdued profit growth in its US school bus operations is likely to hold back earnings at rail and bus group FirstGroup after this year, according to Nomura. The Japanese broker, which has a 'neutral' recommendation and a 375p target price on FirstGroup, has upgraded its earnings per share estimates
Read moreBroker snap: Charles Stanley say 'sell' Asos
18th Jan 2010 09:51
Charles Stanley is again unimpressed by the latest trading update from online fashion retailer ASOS. Most retailers would have been delighted with the sales growth of 30% ASOS posted in the 5 weeks to 3 January and the 38% for the 42 weeks to 17 January, but Stanley believes the figures were not go
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