Broker snap: Babcock remains top pick in the sector, says JPMorgan
10th Sep 2013 10:50
Engineering support services group Babcock was making gains on Tuesday after JPMorgan Chase said that the stock remains its top pick in the sector. The bank reiterated its 'overweight' rating on the stock, saying that its valuation - the stock is trading at 15.2 times estimated earnings (for the ye
Read moreFour Babcock directors build stakes after exercising options
14th Aug 2013 16:49
Four members of Babcock's board of directors exercised share awards in the engineering support services firm over the past few days, building their stakes following a strong rise in the share price so far this year. Babcock has performed relatively well in 2013 despite the ongoing wider market vola
Read moreBabcock International acquires Brazil firm Conbras
23rd Jul 2013 07:55
UK engineering support company Babcock International Group has acquired Brazilian firm Conbras. Conbras, a privately owned company which offers facilities management to private and public customers, was bought for a consideration of up to 75m Brazilian Real (R$). The deal also includes a maximum
Read moreLondon close: Stocks slip despite mining strength
16th Jul 2013 16:55
Strong gains in the mining sector weren't enough to lift the FTSE 100 on Tuesday as a number of upcoming 'risk events' prompted investors to pause for breath following a decent performance over recent weeks. The FTSE 100 finished down 30 points at 6,556, a fall of 0.45% on the day. London's benchma
Read moreFTSE 100 movers: Miners track metal prices higher
16th Jul 2013 14:33
Mining stocks were the best performers on Tuesday afternoon, as metals prices rose on the back of a weaker dollar. Precious metal producers Fresnillo and Randgold were among the highest risers as gold and silver futures advanced. Diversified mining group Rio Tinto was also making gains after being
Read moreLondon midday: Stocks flat as markets digest mixed data
16th Jul 2013 11:46
The UK stock market was flat on Tuesday morning, pausing for breath after hitting highs not seen in seven weeks, as investors reacted to a barrage of mixed economic data. The UK annual consumer price index (CPI) hit a 14-month high of 2.9% in June, up from 2.7% in May. While this came in slightly b
Read moreBroker tips: Retailers, Babcock, Rio Tinto
16th Jul 2013 11:45
Nomura has lifted its view on the UK retail sector from 'neutral' to 'bullish', even though the category has outperformed the wider market so far this year. Nomura has raised its recommendation for electrical retailer Dixons from 'neutral' to 'buy', lifting its target price from 31p to 60p, saying
Read moreBroker snap: Babcock 'well positioned', Panmure upgrades
16th Jul 2013 11:33
Panmure Gordon has upgraded its rating for engineering support services group Babcock from 'hold' to 'buy' and hiked its target price from 1,050p to 1,350p. In a research report titled 'Sitting pretty', Panmure said: "With a number of positives facing the group against a relatively flat share price
Read moreLondon pre-open: Strong start expected after dovish comments from Bernanke
11th Jul 2013 07:34
The UK benchmark index is expected to open with gains of over one per cent in early trading on Thursday as markets react to dovish comments from Federal Reserve Chairman Ben Bernanke. City sources predict the FTSE 100 will open up 89 points from yesterday's close of 6,505. Minutes of the June Fed
Read moreBabcock says financial position remains robust
11th Jul 2013 07:04
Engineering company Babcock International Group has kicked off the 2013/14 financial year in line with its expectations, delivering strong trading results. Without providing figures, the firm released a statement saying all its business units performed well in the first quarter with high activity
Read moreWednesday broker round-up UPDATE
10th Jul 2013 08:59
Anglo American: Goldman Sachs reduces target price from 1400p to 1100p and retains a sell recommendation. Antofagasta: Goldman Sachs takes target price from 935p to 810p reiterating its neutral rating. Babcock: JP Morgan increases target price from 1230p to 1380p and retains an overweight rating.
Read moreLondon close: Political uncertainty hits stocks hard
3rd Jul 2013 16:44
The UK market suffered steep falls on Wednesday as risk appetite was hit by disappointing economic data from China, political uncertainty in Portugal and fears of a military coup in Egypt. Nerves were also on edge ahead of policy decisions from the Bank of England and European Central Bank tomorrow
Read moreFTSE 100 movers: China concerns weigh heavily on miners
3rd Jul 2013 15:08
Mining stocks were once again bearing the brunt of a fall in risk appetite on Wednesday as concerns over demand for commodities were sparked by some disappointing economic data from China. Anglo American, Glencore Xstrata, BHP Billiton, Vedanta and Antofagasta were among the worst performers. Lead
Read moreLondon midday: Stocks hit by political uncertainty, economic data
3rd Jul 2013 11:26
Political uncertainty in Europe, disappointing economic figures from China and nervousness ahead of some key 'risk events' later this week prompted a sell-off on the FTSE 100 on Wednesday morning. Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have
Read moreLondon open: Risk appetite sinks ahead of key economic data
3rd Jul 2013 08:25
The FTSE 100 dropped sharply in early trading on Wednesday as economic data from China continues to disappoint, while nerves were setting in ahead of some key risk events later on in the week. Activity in China's services sector remained sluggish in June with the official non-manufacturing purchasi
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