Broker tips: Cairn, Mulberry, WS Atkins
14th Jun 2012 17:47
Credit Suisse reacted to Cairn Energy's agreed bid for Nautical Petroleum by cutting its target price for the Scottish oil behemoth. "We maintain our Neutral rating on Cairn Energy and reduce our target price to 362p from 400p to account for the acquisition and current mark-to-market of its Cairn I
Read moreBroker snap: Steady as she goes at Atkins
14th Jun 2012 17:26
Although the US market remains slow, the outlook for the current year remains unchanged at WS Atkins, which broker Northland Capital Partners finds reassuring. "Markets in the UK and US remain difficult whilst Energy, the Middle East and Asia continue to offer growth opportunities. This mirrors wha
Read moreLondon midday: Markets calm as Italian yields rise
14th Jun 2012 11:50
Markets have reacted positively in the main to the outcome of the Italian bond auction on Thursday morning, which saw yields rise fairly steeply. Italy issued a total of €4.5bn of debt in three, seven, and eight-year bonds. It matched its issuance target but had to pay higher yields than on the pr
Read moreLondon open: Sweet FA deal batters Sky and BT
14th Jun 2012 08:45
You would have thought that the market had become used to sovereign debt downgrades by now, but the decision by Moody's to take Spain's rating down three notches to a level adjacent to 'junk' status has ratcheted up tension ahead of Italy's debt auction this morning. Italy is set to auction €4.75bn
Read moreLondon pre-open: Eurozone fears to spark lower start for FTSE
14th Jun 2012 07:31
City sources predict the FTSE 100 will open down 18 points from yesterday's close of 5,484, tracking losses seen in both the US and Asia as concerns over the Eurozone persist, made worse by disappointing data from the US. Royal Dutch Shell is ploughing on with its bid for Cove Energy, extending th
Read moreProfits down but dividend up at Atkins
14th Jun 2012 07:08
Design and engineering consultancy WS Atkins said it had performed well over the last year despite tough conditions and was boosting its dividend. The company reported revenues up 9.4% to £1.7bn in the year to the end of March, with earnings per share up 5% to 7.9p. Pre-tax profits were up 48% to
Read moreGalliford to upgrade Liverpool water treatment
11th Jun 2012 07:28
Construction group Galliford Try said it was part of a joint venture that had won a 180m pound waste water contract. The contract to upgrade and extend Liverpool Waste Water Treatment Works was awarded by United Utilities Group to a team which also includes Costain Group and Atkins (WS). The proje
Read moreThursday broker round-up
7th Jun 2012 09:23
Barclays: Deutsche Bank retains buy rating and 295p target. Burberry: Credit Suisse upgrades to outperform, target lifted from 1,420p to 1,650p. Centamin: Nomrua upgrades from neutral to buy, target lifted from 100p to 130p. Circle Oil: Investec cuts target from 90p to 86p, buy rating maintained.
Read moreAtkins taps US fixed-interest market
14th May 2012 07:35
Design and engineering consultancy group WS Atkins has turned to the US fixed-interest market to raise cash to repay drawn funds under the group's existing banking facility and for general corporate purposes. The firm placed $75m of notes carrying a coupon of 4.38% with a term of seven years, mar
Read moreLondon open: Stocks flat with political uncertainty in focus
8th May 2012 08:40
- Greek and French elections raise concerns - Aviva up after CEO departure - Tullow rises after further oil find in Kenya After a long weekend, London's blue chips opened broadly flat on Tuesday morning with political concerns in Europe weighing on sentiment. Antonis Samaras from Greece's biggest
Read moreHICL buys stake in Colchester PFI project from Atkins
8th May 2012 08:05
HICL Infrastructure, the infrastructure investment firm, is now the majority stakeholder in the Colchester Garrison private finance initiative (PFI) project after buying up a stake from design and engineering consultancy WS Atkins. HICL has upped its stake in the project from 42% to 56% at a cost o
Read moreSunday share tips: Aggreko, WS Atkins, Andor
15th Apr 2012 14:11
Aggreko is a global provider of temporary power solutions in a world that is structurally short of power, writes The Telegraph´s Questor team this Sunday. That means that continuous investment in the amount of power available to hire is key to growth. However, while its net debt has risen by £63m to
Read moreThursday tips round-up: WS Atkins, Easy Jet, Eldorado Gold
12th Apr 2012 07:11
If the health of a consultancy such as WS Atkins can be measured by the number of consultants it can afford to employ, and this is at least a crude measure of performance, then Atkins' UK business is in good shape. The company added a modest 100 staff members in the second half, the first real growt
Read moreWednesday broker round-up - UPDATE
11th Apr 2012 09:36
Barclays: Investec upgrades from hold to buy. Centamin Egypt: Nomura cuts target from 120p to 100p, neutral rating retained. Dignity: Peel Hunt reiterates hold rating and 800p target. Dunelm Group: Investec lifts target from 450p to 500p, hold rating kept; Panmure Gordon keeps buy rating and 600
Read moreWS Atkins optimistic about future earnings
11th Apr 2012 07:04
WS Atkins says that full-year results will be in line with market expectations despite some headwinds and forecasts an improvement in earnings in the current year. "Atkins' geographic and sector diversification continues to provide resilience which will be reflected in the reported results for the
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