London pre-open: Small decline expected in early trading
28th Aug 2012 07:30
City sources predict the FTSE 100 will open down three points from Friday's close of 5,777 following the bank holiday weekend and details which emerged last night in relation to the European Central Bank, which is said to be 'still working' on its bond-buying programme. Casting a downbeat mood acr
Read moreAstra names Roche executive Soriot as new CEO
28th Aug 2012 07:08
Pharmaceuticals group AstraZeneca, which has been on the search for a new boss for four months, has appointed Pascal Soriot as its Chief Executive Officer (CEO), joining the firm from Swiss rival Roche. Soriot, who has been the Chief Operating Officer of Roche's pharmaceuticals division since 2010,
Read moreSector movers: Marks and Spencer lifts retailers after takeover rumours
24th Aug 2012 15:32
Retailers were on the up on Friday afternoon after Marks and Spencer jumped on rumours that private equity titan CVC Capital Partners is considering a takeover offer for the High Street group. It is thought that CVC is looking at an offer and has approached executives both inside and outside the fi
Read moreMonday broker round-up -UPDATE
20th Aug 2012 08:17
AstraZeneca: JPMorgan Cazenove downgrades to underweight, target lifted from 2,800p to 2,970p. Balfour Beatty: JPMorgan Cazenove downgrades to neutral. Barclays: Citigroup reiterates buy and 330p target price. ENRC: Credit Suisse downgrades to neutral, target cut from 500p to 450p. FirstGroup: J
Read moreLondon close: Stocks maintain gains despite mixed data
14th Aug 2012 17:06
- Eurozone GDP in line - German and French data beats expectations - UK inflation rises in July Some better-than-expected economic growth data from Germany and France helped UK stocks hold on to gains on Tuesday; although London's benchmark index, the FTSE 100, was trading within a narrow range of
Read moreFTSE 100 movers: Standard Life soars as profit leaps
14th Aug 2012 14:53
Life assurance behemoth Standard Life leapt into the top spot after it saw profits rise in the first half after a strong performance in the UK, its biggest market. Operating profit before tax was up 15 per cent with assets under administration three per cent higher than the year before. United Uti
Read moreLondon midday: United Utilities leads stocks higher
14th Aug 2012 11:33
- UK CPI inflation rises in July - Eurozone GDP falls in line with forecasts - United Utilities up on takeover speculation The Footsie had moved broadly sideways in morning trade on Tuesday, holding on to the gains made in the opening hour, as investors digested a barrage of economic data from home
Read moreLondon open: Stocks gain as German GDP beats forecasts
14th Aug 2012 08:35
- German Q2 GDP above forecasts - Japanese stimulus could be on the agenda - Standard Life impresses as profits jump London's FTSE 100 advanced on Tuesday morning after German growth data beat expectations and investors hoped that policy-makers in Japan would step up to boost its economy. German e
Read moreLondon pre-open: Stocks to rise ahead of Eurozone GDP data
14th Aug 2012 07:17
City sources predict the FTSE 100 will open up 27 points from yesterday's close of 5,832, as expectations of further stimulus builds ahead of the release of Tuesday's Eurozone GDP and US retail sales data. Elsewhere, the minutes from the latest policy meeting of the Bank of Japan have revealed tha
Read moreAstra raises guidance after Pfizer OTC tie-up
14th Aug 2012 07:07
Anglo-Swedish drugs colossus AstraZeneca has raised earnings guidance a tad after signing a deal with US pharmaceuticals titan Pfizer. Astra's core earnings per share (EPS) target for 2012 has been increased to the range of $6.00 to $6.30 after the group revealed that Pfizer is to stump up for the
Read moreLondon close: Stocks finish higher after late rally
8th Aug 2012 16:45
After an early fall, London's benchmark index rallied in afternoon trade to finish a few points higher, extending gains from the previous three sessions. The last time the FTSE 100 finished higher was on April 2nd when it hit 5,875. "Stocks and other risky assets have traded higher since Friday. C
Read moreFTSE 100 movers: Standard Chartered heads back up
8th Aug 2012 15:36
Following a 16 per cent slump yesterday, emerging markets-focused bank Standard Chartered was leading the risers today. It was revealed yesterday that a US banking regulator accused it of collusion with the government of Iran to hide transactions from authorities. Rio Tinto, the mining and resourc
Read moreBroker tips: StanChart, Serco, AstraZeneca
8th Aug 2012 12:46
Credit Suisse has retained its cautious stance on under-fire lender Standard Chartered on the back of its struggles with US regulators in regards to its alleged dealings with the Iranian government. StanChart trades at 1.3 times full-year tangible net asset value for a 14-15% return on tangible equ
Read moreLondon midday: Sentiment dampened by BoE and Greece
8th Aug 2012 11:46
- ECB optimism fades - S and P cuts Greek outlook to 'negative' - BoE slashes growth forecast The Footsie remained firmly in the red on Wednesday morning as optimism earlier this week about the situation in Europe began to fade, particularly as Greece's credit rating outlook was lowered by Standard
Read moreBroker snap: Credit Suisse cuts sales and earnings estimates for Astra
8th Aug 2012 11:44
Jefferies has raised its target price for AstraZeneca from 2,975p to 3,100p, but has retained its 'hold' recommendation on the shares following 'another disappointing quarter'. According to the broker, AstraZeneca will likely continue to trade in a 'bond-like' fashion as investors await the appoint
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