London pre-open: Markets expected to rebound from one-month lows
4th Jun 2013 07:44
Following some heavy losses the day before on mixed manufacturing data worldwide, markets are expected to rebound slightly on Tuesday morning. London's FTSE 100 lost 58 points yesterday, falling 0.9% to a one-month low of 6,525, after factory activity in both China and the US weakened in May. Manuf
Read moreAstraZeneca takes impairment after pulling development of arthritis drug
4th Jun 2013 07:25
Biopharmaceuticals giant AstraZeneca will be hit by a one-off impairment charge after admitting that it has decided not to pursue a regulatory filing for fostamatinib, an oral drug it was hoping could be an alternative treatment for rheumatoid arthritis. After receiving mixed results from the OSKIR
Read moreFriday broker round-up UPDATE
31st May 2013 07:30
AstraZeneca: Citi increases target price from 3000p to 3500p, while leaving its neutral rating unchanged. Burberry: Morgan Stanley ups target price from 1300p to 1400p and leaves its equal-weight rating unchanged. Genel Energy: Credit Suisse shifts target price from 1236p to 1246p keeping an outpe
Read moreWednesday tips round-up: Sirius Minerals, Volex, GlaxoSmithKline
29th May 2013 06:54
The global pharmaceuticals sector is stuck in the 'doldrums' due to the impact of the so-called 'patent-cliff.' However, they have rebounded from their previous cycle lows - even in the case of laggards such as AstraZeneca, GlaxoSmithKline or Novartis - as investors seem to appreciate their defensiv
Read moreLondon close: Stimulus hopes drive triple-digit gains for FTSE 100
28th May 2013 16:49
While hopes have now faded for a long-term continuation of stimulus measures in the US, speculation surrounding continued monetary easing in Europe and Japan sparked a huge surge on equity markets on Tuesday. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter par
Read moreLondon midday: Stocks bounce back after recent sell-off
28th May 2013 11:20
UK markets were registering impressive gains on Tuesday morning with hopes of continued monetary easing in the Eurozone lifting sentiment as stocks bounced back following last week's sharp sell-off. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last
Read moreLondon open: Stocks surge as markets play catch up after long weekend
28th May 2013 08:30
UK markets surged in early trading on Tuesday with traders wasting no time in playing catch up as they returned to their desks following the three-day weekend. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last week on fears of a scaling back of stim
Read moreLondon pre-open: Strong gains expected after long weekend
28th May 2013 07:25
Following last week's heavy losses, markets are expected to open with strong gains on Tuesday morning as traders in the UK and US return to their desks after a long weekend. City sources predict the FTSE 100 will open up over 60 points from Friday's close of 6,654. Senior Market Analyst Michael He
Read moreAstraZeneca continues appeal against US court ruling over asthma drug
28th May 2013 07:05
AstraZeneca said it will continue to "vigorously" defend the intellectual property rights protecting its Pulmicort Respules medicine. The company is appealing against a US court ruling that the patent protecting Pulmicort from rival drugs in the US is invalid. The US Court of Appeal has issued a
Read moreMonday broker round-up UPDATE
29th Apr 2013 08:17
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu
Read moreMonday newspaper round-up: BP, AstraZeneca, Sainsbury's...
29th Apr 2013 06:48
The Telegraph writes that BP's giant underwater oil project offshore Angola has come in four billion dollars over budget after delays set it back a year. According to The Independent, unions are meeting with AstraZeneca in an attempt to convince the pharmaceuticals group to reverse plans to shut do
Read moreFriday tips round-up: Admiral, AstraZeneca
26th Apr 2013 08:41
With the motor market under a great deal of regulatory and political scrutiny, The Times' Tempus column has recommended investors to stay clear of Admiral following its 'unimpressive' trading statement on Thursday. The paper said that Admiral gave its critics plenty of ammunition yesterday, reveali
Read moreFriday broker round-up UPDATE
26th Apr 2013 07:24
Admiral Group: HB Markets initiates with a buy recommendation. AstraZeneca: Deutsche Bank takes target price from 3100p to 3160p and leaves its hold recommendation unchanged. Avon Rubber: Investec upgrades from hold to add with a target price of 420p. Betfair Group: Citigroup raises target price
Read moreLondon close: Markets underwhelmed by strong growth figures
25th Apr 2013 17:00
UK growth figures prompted a mixed reaction on stock markets on Thursday as stronger-than-expected activity in the first quarter quashed hopes that the Bank of England (BoE) would ramp up its quantitative easing programme in order to kick-start the economy. Nevertheless, data from the States lifted
Read moreFTSE 100 movers: Miners lead the risers
25th Apr 2013 15:23
Mining stocks rose on Thursday on the back of rising metal prices, led by Randgold Resources, Antofagasta, Vedanta, ENRC, and Polymetal. Heading the other way was consumer good group Unilever after it had to rely on robust growth from emerging markets as it grew marginally slower than expectations
Read more