Broker tips: Hiscox, Aveva, Kewill
25th Jan 2010 13:13
A market valuation that is 1.1 times net tangible assets is 'too low by a long chalk' according to finnCap, which has reiterated its 'buy' rating for underwriter Hiscox. 'The investment return for 2009 is approximately 7.2% of the average value of the portfolio over the year. This compares with 6.
Read moreBroker snap: Cash return possible at Aveva
25th Jan 2010 13:04
Broker Panmure Gordon thought it detected undertones of caution in the trading statement from engineering data and IT systems provider Aveva, along with the bullish comments about prospects in Brazil. 'There is a hint of caution in the narrative with performance being "satisfactory" and "uncertaint
Read moreLondon midday: Footsie holding on
25th Jan 2010 12:22
London continues to trade just above 5,300 thanks to financials and mining plays, although defensive issues are proving a drag. The UK's leading index slumped 200 points last week as investors discussed the potential impact of President Obama's new bank controls. But it appears there's a feeling t
Read moreLondon open: Mixed start for blue chips
25th Jan 2010 08:45
London has opened lower with banks and miners mixed and buyers largely sitting on the sidelines. The potential impact of President Obama's new bank controls continues to weigh heavily on the UK sector, with additional fears that a new chunk of fund raising could be on the cards to meet tougher new
Read moreLondon pre-open: Bleak opening in prospect
25th Jan 2010 07:38
Though London finished off its lows at the close on Friday the subsequent shake-out on Wall Street and the weakness of Asian markets overnight appears to have put paid to any hopes of a bright opening, with the FTSE 100 expected to open around 50 points lower. Wolseley says finance chief Steve Web
Read moreAveva targets Brazil
25th Jan 2010 07:06
Trading in the final quarter of 2009 at engineering data and IT systems provider Aveva was ‘satisfactory’, leaving the company on track to meet full year targets. Though the marine market has remained becalmed, the oil, gas and power markets have been resilient the world over, benefiting from conti
Read moreBATS chairman invests £200,000
21st Dec 2009 16:12
Recently appointed British American Tobacco chairman Richard burrows has bought 10,000 shares in the cigarettes supplier. He previously held no shares in the company. His initial investment is just short of £200,000. the shares were acquired for 1,949.35p each. Burrows has a background in the dr
Read moreTechMARK movers: Aveva upgraded by Citigroup
16th Nov 2009 15:38
Shares in Aveva have been boosted by Citigroup raising its target price from 920p to 990p a share. The broker says that the CAD software supplier's recent results showed that recurring revenues were resilient. Citigroup has also increased its earnings per share forecast for the current year from 4
Read moreLondon close: Footsie retreats after new high
12th Nov 2009 17:00
Footsie hit a new intra-day high for the year in mid-afternoon, but buyer interest tailed off near the close as US markets retreated on a mild resurgence by the dollar. British Airways was the top performer after the airline confirmed it is holding meetings with Spanish airline Iberia to discuss th
Read moreLondon afternoon: Footsie hits new 2009 peak
12th Nov 2009 15:21
Footsie has hit a new intra-day high for the year as the majority of blue-chips head higher. British Airways is the top performer after confirming that it is holding meetings with Spanish airline Iberia to discuss the possibility of a merger. 'The British Airways and Iberia boards are holding sepa
Read moreTechMARK movers: Weak US market hits Genus
12th Nov 2009 15:05
Animal breeding technology developer Genus warns that weak agricultural markets have hit profits. The US market continues to deteriorate while research and development costs have risen. Genus stated at its AGM that trading has been solid and adjusted operating profits were in line with the same pe
Read moreLondon midday: FTSE flat
12th Nov 2009 12:05
It is back to square one for Footsie, which is virtually unchanged on the day despite a warm reception to results from BT and confirmation from British Airways that the long awaited merger with Iberia is close to consummation. British Airways has confirmed that it is holding meetings with Spanish a
Read moreFTSE 250 movers: Trinity Mirror jumps as trends improve
12th Nov 2009 11:51
Shares in Trinity Mirror, which publishes the Mirror Newspaper and a host of local titles, jumped after said it is seeing an improvement in the rate of revenue decline and positive effects from its cost-cutting initiatives. Trinity is joined near the top of the FTSE 250 by Galiform. The joinery fir
Read moreLondon open: BT turns Footsie blue
12th Nov 2009 08:32
Shares are inching higher in early deals as investors welcome second quarter results from BT, offsetting losses among insurers following results from Friends Provident owner Resolution. Telecoms giant BT reported second quarter revenue was in line with expectations and thinks it can cut costs by at
Read moreAveva H1 profit drops, cautious for 2010
12th Nov 2009 08:04
Engineering IT systems provider Aveva revealed a decline in half year profit and said it remains cautious on the outlook for 2010. Adjusted pre-tax profit fell to £26.6m for the six months ended 30 September 2009 from £31.0m the year before. Revenue for the period declined to £69.9m from £74.8m in
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