London midday: Banks and pharmas drag Footsie lower
20th Dec 2011 11:54
London's blue chip index was slightly down at midday, despite a temporary stint in the blue, with heavyweight banking and pharmaceuticals stocks providing a drag. The Footsie nevertheless has been trading within a narrow range, with just 33 points separating the intraday low and high. The European
Read moreLondon open: Footsie dragged down by pharmas and oils
20th Dec 2011 08:52
Though the Eurozone debt crisis rumbles on in the background, UK investors look to be already in holiday mood, with the market drifting lower at the outset in light trading. The European Union (EU) member states announced late last night their plan to increase the International Monetary Fund's (IM
Read moreLondon pre-open: Stocks still lacking direction
20th Dec 2011 07:16
After yesterday's aimless trading session, London's blue-chips are seeking direction again today, with City traders tipping the FTSE 100 will open down 14 points from yesterday's close of 5,365. Pharmaceuticals giant AstraZeneca said full year core earnings per share (EPS) are set to be in the low
Read moreFailed drug tests hit AstraZeneca earnings
20th Dec 2011 07:08
Pharmaceutical giant AstraZeneca has warned earnings will come in at the lower end of expectations after it took a $381.5m hit from failed drug tests. The company has stopped development of its ovarian cancer treatment olaparib and also said its antidepressant compound TC-5214 had not met targets.
Read moreBroker tips: AstraZeneca, Standard Chartered, CSR
12th Dec 2011 12:32
Analysts at Credit Suisse have issued a rather downbeat research note on pharmaceutical giant AstraZeneca this morning. While they believe that the company's share price already reflects "the material patent expiry burden facing AstraZeneca," they are not so sure that the same can be said of the p
Read moreBroker snap: Credit Suisse reiterates underperform on AstraZeneca
12th Dec 2011 09:36
Analysts at Credit Suisse have issued a rather downbeat research note on pharmaceutical giant AstraZeneca this morning. While they believe that the company's share price already reflects "the material patent expiry burden facing AstraZeneca," they are not so sure that the same can be said of the pos
Read moreMonday broker round-up - UPDATE
12th Dec 2011 09:30
Xstrata: UBS cuts target from 1,550p to 1,450p, buy rating unchanged AstraZeneca: Credit Suisse reiterates underperform rating and 2,600p target. Standard Chartered: Investec reduces target from 1,650p to 1,550p, hold rating maintained. British American Tobacco: Investec raises target from 3,100p
Read moreFriday tips round-up: Tesco, AstraZeneca, Standard Chartered
9th Dec 2011 06:46
The Telegraph's Questor column takes a look at a familiar name, Tesco, the UK's largest retailer. Yesterday it revealed the fourth quarter of reduced like-for-like sales in the UK. Its new boss Philip Clarke admits this isn't good enough and the Big Price Drop strategy was an attempt to tempt in ne
Read moreLondon close: Stocks plummet after ECB
8th Dec 2011 16:43
The Footsie took a tumble in the afternoon as initial optimism following the European Central Bank (ECB) decision to cut rates quickly faded after a press conference with its president Mario Draghi. In the last two-or-so hours of trade, London's blue chip index dropped more than 100 points from its
Read moreLondon open: Footsie opens up, Tesco's price drops
8th Dec 2011 08:11
The Footsie opened firmly in the blue as investors looked ahead to this evening's EU summit with confidence. Meanwhile, the Bank of England (BoE) and the European Central Bank (ECB) are expected to announce their interest rate decisions after midday. ALL EYES ON THE EURO With the BoE expected to f
Read moreAstraZeneca lays off 1,150 in US, takes one-off charge
8th Dec 2011 07:38
Pharmaceuticals giant AstraZeneca is to cut 1,150 jobs from its sales force in the US, as part of its "ongoing strategy to operate its business more efficiently to best serve patients". The mass lay-off amounts to 24% of its sales organisation stateside and is expected to cost the firm between $50m
Read moreThursday newspaper round-up: IAG, Astra Zeneca, Marks&Spencer
8th Dec 2011 07:02
Estimates from accountants Deloitte found that European banks hold more than £1.5 trillion of non-core and non-performing assets on their balance sheets. Deloitte estimates that while banks will have to drastically reduce the size of their asset books, they will probably encounter major challenges i
Read moreLondon open: Stocks up on euro hopes, Michael Page tanks
5th Dec 2011 08:17
London's blue chip index has opened higher, building on last week's gains of 7.5%, as a pivotal week in the Eurozone crisis kicks off. KEY WEEK FOR EURO French President Nicolas Sarkozy and German Chancellor Angela Merkel are due to meet in Paris today to discuss the centralised control of Eurozon
Read moreMonday newspaper round-up: Russia, manufacturing Astra Zenaca
5th Dec 2011 07:07
Vladimir Putin's ruling United Russia party appears to have lost the trust of millions of Russians after early results showed it had won less than 50% of the vote in a parliamentary election on Sunday. Russia's central election commission last night said United Russia was leading the elections with
Read moreAstraZeneca wins approval for new diabetes drug
29th Nov 2011 07:47
The FTSE 100 pharmaceuticals firm, AstraZeneca, has won Europe-wide approval for its diabetes drug Komboglyze. The treatment, which was developed in conjunction with US peer Bristol-Myers Squibb, helps glycaemic control in adult patients with type 2 diabetes. The approval comes following a study i
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