London midday: FTSE 100 snaps eight-day winning streak as miners fall
14th May 2013 11:50
Strong gains in the utilities sector after a takeover approach for Severn Trent and some well-received results from Babcock International weren't enough to lift markets into positive territory by Tuesday lunchtime, as the FTSE 100 snapped an eight-day winning streak. "The broader market malaise is
Read moreBroker tips: Vodafone, Babcock, British Land
14th May 2013 11:02
Nomura has kept its 'neutral' rating and 195p target price for telecoms giant Vodafone after the announcement of a 2.1bn-pound dividend payment from its stake in Verizon Wireless (VZW). The broker said that Verizon's Chief Executive Officer Lowell McAdam has gone back on his comments last week in w
Read moreBroker snap: Babcock's premium rating justified after strong results, says Panmure
14th May 2013 10:37
Panmure Gordon has reiterated its 'hold' rating for engineering support services giant Babcock, but has said that there is scope for forecast upgrades after the group's better-than-expected full-year results. "Babcock has exceeded our forecast expectations on all fronts this morning, representing w
Read moreLondon open: Markets flat after strong run, but Severn Trent soars
14th May 2013 08:19
Strong gains for Severn Trent and other utility providers helped offset weakness elsewhere on Tuesday morning as the FTSE 100 paused for breath following an eight-day winning streak. "European markets moved forward modestly today shunning a mixed trading session in Asian stock markets overnight as
Read moreTuesday broker round-up UPDATE
14th May 2013 08:04
Babcock International: Jefferies increases target price from 1080p to 1250p and maintains a buy recommendation. Barratt Developments: Bank of America takes target price from 265p to 325p, while downgrading to neutral. Belgravium Technologies: WH Ireland places both its target price and its neutral
Read moreStrong progress at Babcock, hikes dividend
14th May 2013 07:06
Engineering support services company Babcock reported a robust set of annual results, lifted its dividend payment and said it is well positioned for strong progress in the year ahead. Underlying pre-tax profit rose 16% to £317.8m for the year ended March 31st 2013 compared to a year earlier. Revenu
Read moreTuesday preview: British Land and Babcock International report
13th May 2013 15:23
British Land and Babcock International Group will take centre stage Tuesday when the FTSE 100 companies release their annual results. Analysts at Jefferies International expect British Land to report flat net asset value, pre-tax profit and earnings per share. "British Land has a low marginal cos
Read moreFriday broker round-up UPDATE
5th Apr 2013 08:33
Aberdeen Asset Management: Jefferies moves target price from 400p to 420p keeping a hold recommendation. Aggreko: Investec reduces target price from 2065p to 1900p downgrading from buy to add. APR Energy: Investec takes target price from 650p to 900p retaining a hold recommendation. ARM Holdings:
Read moreLondon midday: Stocks pull back ahead of rate decisions, US jobs report
3rd Apr 2013 11:49
Sharp falls in the mining sector and a number of heavyweight stocks going ex-dividend ensured that London markets were firmly in negative territory on Wednesday morning, with investors scaling back risk ahead of some key events later this week. "With three major central bank meetings taking place o
Read moreBroker tips: Miners, Schroders, Babcock
3rd Apr 2013 10:43
Credit Suisse made across-the-board target-price cuts in the mining sector on Wednesday, highlighting the impact of supply overhang on metals prices this year. "Despite more restrained spending, 2013/14 will be a period of price discovery, as markets move into surplus and the sector lives through t
Read moreBroker snap: Westhouse cuts Babcock due to limited upside
3rd Apr 2013 10:30
The share price of Babcock International, the UK engineering supports services organisation, was relatively subdued on Wednesday morning despite an in-line trading statement, as Westhouse Securities downgraded the stock from 'add' to 'neutral'. The company said that it has traded "well" throughout
Read moreWednesday broker round-up UPDATE
3rd Apr 2013 08:41
Aggreko: Credit Suisse takes target price from 1850p to 2000p staying with its neutral rating. Andor Technology: Investec ups target price from 500p to 525p reiterating a buy recommendation. AngloAmerican: Credit Suisse cuts target price from 2100p to 1900p and reiterates a neutral rating. Antofa
Read moreLondon open: Markets turn cautious ahead of risk events this week
3rd Apr 2013 08:41
Markets shrugged off some strong economic data from China on Wednesday morning to trade firmly in the red with traders nervous ahead of central bank meetings tomorrow and US employment data on Friday. "European markets opened cautiously today as investors opted to mirror the lack of enthusiasm show
Read moreLondon pre-open: FTSE set to decline in early trading
3rd Apr 2013 07:29
City sources predict the FTSE 100 will open down 18 points from yesterday's close of 6,491, following a mixed performance across Asia overnight, with Japanese stocks rising strongly on the back of a potentially crucial central bank policy meeting. In the US, equities climbed Tuesday as new data poi
Read moreBabcock unveils strong progress in full-year results
3rd Apr 2013 07:06
UK engineering company Babcock International Group said on Wednesday its annual results will show 'strong progress' on the previous year. In a trading statement ahead of the firm's results for the year ended March 31st 2013, Babcock announced it had traded well on a healthy pipeline of contracts i
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