London midday: Markets jump one per cent after Fed taper
19th Dec 2013 12:01
- Fed tapers monthly asset purchases by 10bn dollars - Markets rise, Wall Street hits record high - Annual growth of UK retail sales misses estimates techMARK 2,732.70 +1.31% FTSE 100 6,556.63 +0.99% FTSE 250 15,576.80 +1.37% UK markets had held on to their gains by Thursday lunchtime as investors
Read moreBroker snap: Generics threat tightens breathing room at Glaxo, says Jefferies
19th Dec 2013 10:10
Jefferies has maintained its 'hold' rating for GlaxoSmithKline (GSK) after Denmark approved the sale of a generic copy of its top-selling inhaled lung drug, Advair. It was announced on Thursday that Novartis' Sandoz and Vectura have been given the green light by Danish authorities for the V315 AirF
Read moreAstraZeneca buys out Bristol in diabetes alliance for up to 4.1bn dollars
19th Dec 2013 09:15
- 2.7bn dollars on completion, 1.4bn in future payments - Provides 'platform for returning AstraZeneca to growth', says CEO AstraZeneca is to spend up to 4.1bn dollars for Bristol-Myers Squibb's stake in their diabetes joint venture, giving the British pharmaceuticals company full ownership of a la
Read moreThursday broker round-up UPDATE
19th Dec 2013 08:27
AstraZeneca: Alphavalue lowers target price from 3169p to 3087.7p and downgrades from reduce to sell. British American Tabacco: Panmure Gordon reduces target price from 3800p to 3200p and downgrades from buy to hold. Britvic: Investec ups target price from 600p to 672p and maintains a hold recomme
Read moreLondon open: Fed taper sparks 'Santa Rally' as stocks jump
19th Dec 2013 08:17
- Fed cuts monthly bond buying to 75bn dollars - Commits to near-zero rates, depending on inflation - Pharma peers AstraZeneca, GSK making gains techMARK 2,727.60 +1.12% FTSE 100 6,553.38 +0.94% FTSE 250 15,550.52 +1.20% UK markets opened around one per cent higher on Thursday morning in the after
Read moreGlaxo COPD approval cooled by generic Advair competition
19th Dec 2013 07:58
US regulators have approved GlaxoSmithKline's treatment for chronic obstructive pulmonary disease, but the excitement was cooled by news that Denmark has approved the sale of a generic copy of GSK's biggest product, Advair. On Wednesday evening Glaxo and Theravance announced that the US Food and Dr
Read moreTuesday broker round-up UPDATE
17th Dec 2013 08:14
Advanced Medical Solutions: Panmure Gordon downgrades from buy to hold with a target price of 102p. Antofagasta: Canaccord Genuity cuts target price from 1110p to 1035p, while staying with its buy recommendation. ASOS: Panmure Gordon increases target price from 5950p to 6126p, while downgrading fr
Read moreFTSE 100 movers: RSA slumps on earnings downgrade
13th Dec 2013 15:44
RSA Insurance fell sharply from the off after lowering its 2013 earnings forecast after identifying issues in its Irish business and experiencing adverse weather in Europe. At the same time the group announced the resignation of group Chief Executive Simon Lee with immediate effect. Temporary powe
Read moreFriday broker round-up UPDATE
13th Dec 2013 09:36
African Barrick Gold: JP Morgan lowers target price from 180p to 170p leaving its neutral rating unaltered. Aggreko: Numis reduces target price from 1400p to 1234p downgrading from reduce to sell. Anglo American: Deutsche Bank reduces target price from 1780p to 1500p and downgrades to hold. JP Mor
Read moreAstrazeneca's diabetes drug wins approval from FDA advisory committee
13th Dec 2013 07:39
Drug maker AstraZeneca, in partnership with Bristol-Myers Squibb, on Friday revealed that the US Food and Drug Administration's (FDA) Endocrinologic and Metabolic Drugs Advisory Committee (EMDAC) gave its approval of their diabetes treatment, dapagliflozin. The FDA takes the EMDAC's advice into ac
Read moreLondon pre-open: FTSE to nudge higher ahead of quiet session
13th Dec 2013 07:26
City sources predict the FTSE 100 will open three points higher than yesterday's close of 6,445.25, ticking marginally higher after a week of declines. It looks set to be a quiet session on both the company and macro fronts, as investors digest the news out from the US last night that the House in
Read moreFTSE 100 movers: Sports Direct dives in spite of leap in H1 profit
12th Dec 2013 15:17
Sportswear and equipment retailer Sports Direct slumped today despite delivering a near-17 per cent jump in underlying profits during its first half, driven by an increase in online and international sales. However, the company did say that '[current] trading has now reverted to management's origina
Read moreAstraZeneca diabetes drug requires more testing
12th Dec 2013 07:12
- Panel recommends for narrow application - More evidence called before wider recommendation Advisers to the US drugs regulator refused to back a wider application of AstraZeneca and Bristol-Myers Squibb's medicine metreleptin, but did recommend it for a narrower range of people. The US Food and
Read moreLondon close: Stocks surge as strong US data offsets taper fears
6th Dec 2013 16:55
- FTSE 100 rebounds strongly on US jobs beat - Taper expectations brought forward - Oil, housing stocks provide a lift techMARK 2,670.64 +0.85% FTSE 100 6,551.99 +0.83% FTSE 250 15,317.05 +1.05% After falling to an eight-week low the previous session, the FTSE 100 rallied on Friday after a much be
Read moreLondon midday: Markets bounce back ahead of US data
6th Dec 2013 11:31
- FTSE 100 rebounds from worst level in eight weeks - Oil, housing stocks provide a lift - Markets focus on non-farm payrolls ahead of Fed meeting techMARK 2,657.20 +0.34% FTSE 100 6,536.26 +0.58% FTSE 250 15,210.58 +0.35% Strong gains in oil and housing sectors were providing a lift in London on
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