Monday newspaper round-up: Shire, China housing, IGas
2nd Jun 2014 07:01
Shire has lined up a $5bn credit facility from banks led by Citigroup to finance a takeover offer for NPS Pharmaceuticals, an American developer of a new drug for sufferers of a debilitating bowel condition. An initial approach to NPS by Shire has been rebuffed, according to insiders. However, a for
Read moreSunday newspaper round-up: Lloyds Banking, Tesco, AstraZeneca
1st Jun 2014 14:03
Lloyds Banking Group has given TSB a £450m "dowry" as part of its £15bn initial public offering, the Sunday Telegraph reported. The small print of the TSB offer document reveals that Lloyds will pay up to £450m of integration costs if TSB changes its technology platform or is taken over. The unusual
Read moreAstraZeneca hopes data will justify turning down Pfizer
30th May 2014 17:37
AstraZeneca hopes data to be released on several new cancer drugs in the next few days will help justify its decision to turn down a takeover bid from Pfizer. The UK drugmaker's strength in oncology was one of the benefits enticing US-based Pfizer to make a £70bn bid for the group. Pascal Soriot,
Read moreSector movers: M&A continues to lift healthcare stocks as Smith & Nephew jumps
28th May 2014 15:14
Healthcare stocks were at the top of the pile on Wednesday on the back of continued M&A activity in the sector, with UK-listed medical device maker Smith & Nephew in focus on reports of bid interest from overseas. The Financial Times reported today that US group Stryker had hired banks and was work
Read moreWednesday broker round-up UPDATE
28th May 2014 09:57
Accesso Technology Group: Numis initiates with a target price of 690p and a buy recommendation. Alternative Networks: Westhouse Securities upgrades from add to buy with a target price of 540p. Astra Zeneca: Deutsche Bank raises target price from 3800p to 3950p and keeps a hold recommendation. AVE
Read moreWednesday tips round-up: AstraZeneca, AG Barr
28th May 2014 07:46
Shares of AstraZeneca continue to trade well above the price at which they were at before Pfizer came along - 37 pounds. However, it seems implausible that investors are still holding out on hopes of another bid coming through. Rather, it is probably a reflection of the ambitious growth targets whic
Read moreFTSE 100 movers: IHG leads markets higher on bid rumours
27th May 2014 14:05
InterContinental Hotels Group shares surged on Tuesday after Sky News reported that the the company rejected a 6bn-pound takeover bid on the grounds that it was too low. While the identity of the bidder has not been confirmed, analysts have suggested that the proposal could have come from Starwood H
Read moreLondon midday: IHG, Lloyds lead markets high post European elections
27th May 2014 11:36
- FTSE 100 catches up after long weekend - Euroscepticism tempered by elections results in Italy, Greece - IHG gains on bid interest - Lloyds to float TSB division - Pfizer walks away from AstraZeneca proposal techMARK 2,788.40 +1.10% FTSE 100 6,849.22 +0.49% FTSE 250 15,836.22 +0.83% UK stocks po
Read moreLondon open: UK stocks rise after European elections, IHG jumps
27th May 2014 08:29
- Eurosceptism tempered by strong election results in Italy, Greece - FTSE 100 tracks gains made in Europe on Monday - IHG rises strongly on takeover rumours - Lloyds to float TSB - Pfizer walks away from AstraZeneca techMARK 2,779.89 +0.79% FTSE 100 6,830.41 +0.22% FTSE 250 15,824.59 +0.75% UK st
Read moreLondon pre-open: FTSE to play catch up after strong gains in Europe
27th May 2014 07:31
The UK stock market is expected to open strongly on Tuesday morning as traders return to their desks in a bullish mood following an impressive performance on European bourses the day before. City sources predict the FTSE 100 will open around 24 points higher than Friday's close of 6,815.75. While
Read moreTuesday newspaper round-up: TSB, Ukraine, Mario Draghi
27th May 2014 07:27
TSB will today attempt to sweeten the pill of a three-year dividend blackout by offering free loyalty shares to retail investors. Lloyds Banking Group will promise one free TSB share for every 20 bought and held for a year by retail investors as it formally sets out the intention to float announceme
Read moreAstraZeneca upbeat about 'independent' future as Pfizer walks away
27th May 2014 07:11
AstraZeneca has hailed its future as an "independent company" after US pharmaceutical giant Pfizer withdrew its takeover bid for the Anglo-Swedish group. Following continued rejections from AstraZeneca's board, Pfizer said on Monday that it "does not intend to make an offer". Pfizer had until May
Read morePfizer withdraws AstraZeneca bid
27th May 2014 06:45
US pharmaceutical giant Pfizer has called an end to its pursuit of AstraZeneca after continued rejections from the Anglo-Swedish rival. Pfizer had until May 26th to further improve its latest £55-a-share bid, though it had already said that this was its "final proposal". The offer, which valued th
Read moreSunday newspaper round-up: Intercontinental Hotels, George Osborne, AstraZeneca
25th May 2014 09:42
Intercontinental Hotels has turned down a 6bn pounds takeover approach from an unnamed investment fund, the Sunday Times reported. The approach is said to have been made in the last three weeks but the board thought it was too low to consider. City sources think the group could now be a target for a
Read moreLondon close: FTSE dips as traders eye elections in Europe and Ukraine
23rd May 2014 16:59
- FTSE closes down 4.81 points to 6,815.75 - Sentiment weighed by Bank Holiday, elections, Ukraine - US new home sales rise techMARK 2,758.00 +0.51% FTSE 100 6,815.75 -0.07% FTSE 250 15,706.03 +0.20% It was a negative finish for UK stocks in the final session of the week, with investors focused on
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