London midday: Stocks rise, M&A speculation boosts Vodafone
2nd Apr 2013 11:36
The FTSE 100 had gained one per cent by Tuesday lunchtime as traders made up for lost time following a long four-day weekend for the Easter holidays. Telecoms giant Vodafone was leading the risers on London's benchmark index on the back of speculation that it could be involved in the biggest M&A d
Read moreBroker snap: JPMorgan upgrades AstraZeneca to 'neutral'
2nd Apr 2013 10:46
JPMorgan Cazenove has upgraded its rating for drugmaker AstraZeneca from 'underweight' to 'neutral' and lifted its price target for the stock from 2,750p to 3,400p, causing shares to edged higher on Tuesday. The broker said that Astra's strategy day on March 22nd "shifted the focus from how to plug
Read moreLondon open: Markets rise after long weekend, Vodafone provides a lift
2nd Apr 2013 08:33
UK stocks began Tuesday's session with solid gains after the long Easter weekend with the focus once again turning to Cyprus ahead of meetings with the Troika this week. Even though Cyprus has already been granted an extension from 2016 to 2017 to achieve a primary budget surplus, government spoke
Read moreTuesday broker round-up UPDATE
2nd Apr 2013 08:28
Afren: Liberum Capital shifts target price from 123p to 130p maintaining a hold recommendation. Amara Mining: Numis initiates with a target price of 80p and a buy recommendation. APR Energy: Espirito Santo downgrades to sell with a target price of 680p. ASOS: Goldman Sachs increases target price
Read moreEuropean broker round-up
2nd Apr 2013 07:56
Top European stock recommendations of the day: - AstraZeneca: JP Morgan upgrades to NEUTRAL from underweight. - Basf: Morgan Stanley reiterates OVERWEIGHT rating and raises price target to €85.00 from €80.00. - E.ON: HSBC upgrades to NEUTRAL from underweight and raises price target to €14.00 from
Read moreAstraZeneca to contest US court ruling over asthma medicine
2nd Apr 2013 07:44
Drugmaker AstraZeneca announced Tuesday that a US court ruled that its patent protecting its medicine Pulmicort Respules in the nation is invalid. The company said it strongly disagreed with the District Court of New Jersey's decision over the drug, which is used for the treatment of asthma. "Ast
Read moreLondon close: Gains erased as Cypriot optimism proves short-lived
25th Mar 2013 17:04
The initial enthusiasm surrounding the last-minute deal to save Cyprus from financial collapse proved short-lived on Monday as comments from the head of the Eurogroup weighed on sentiment in afternoon trade. Meanwhile, rumours of a possible Italian downgrade from Moody's added to the gloomy mood la
Read moreLondon midday: Financials provide a boost after 11th-hour deal in Cyprus
25th Mar 2013 11:35
Financial stocks were performing well on Monday morning, pushing the FTSE 100 one per cent higher, following Cyprus' 11th-hour deal with the Troika to save itself from financial collapse. "Cyprus has avoided becoming the first country to default on its debt and exit the Eurozone, after agreeing on
Read moreLondon open: Markets rise on last-minute deal to save Cyprus
25th Mar 2013 08:20
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika. "Markets clearly appear to be more hopeful than they ought to be on the Eurozone muddling through this crisis - this would suggest that any potential
Read moreAstraZeneca settles litigation over crestor patent
25th Mar 2013 07:17
FTSE 100-listed biopharmaceutical business AstraZeneca has entered into a settlement agreement in its US patent infringement litigation against Watson Laboratories, Actavis (formerly known as Watson Pharmaceuticals), and EGIS Pharmaceuticals regarding Watson's proposed rosuvastatin zinc product. A
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreFTSE 100 movers: BT group lifted by Nomura upgrade
22nd Mar 2013 15:23
BT Group rose after Nomura upgraded the stock to 'buy', raising its target price from 290p to 360p, citing positive news flow from the company's upcoming restructuring plan, and a "solid" launch of BT Sport, which it believes will "override noise on union wage negotiations and the widening of the pe
Read moreFriday tips round-up: AstraZeneca, Premier Oil, Icap
22nd Mar 2013 07:20
Whereas most pharmaceutical groups have opted for diversification to deal with their own 'patent-cliffs' AstraZeneca is going down the path of focusing on a small group of core markets. Hence, the company is a purer play on pharma hopes and so offers higher risks and higher rewards. Nevertheless, tr
Read moreLondon close: Stocks fall on Eurozone fears
21st Mar 2013 16:20
The FTSE continued its journey lower today, as investors grew increasingly concerned over events in Cyprus and the Eurozone generally. Manufacturing data from the region showed its fastest rate of contraction in three months, dashing hopes of an economic recovery. Things were looking up closer t
Read moreFTSE 100 movers: Next rises on profit increase
21st Mar 2013 15:04
UK retailer Next leapt into the top spot after posting a rise in full year profits, boosted by growth in online sales and business expansion. Pre-tax profits climbed by 9.0% to £621.6m for the year to the end of January 2013, compared to £570.3m a year earlier. AstraZeneca was up after making th
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