Wednesday tips round-up: Babcock, Drax, Asos...
10th Nov 2010 06:59
Babcock's hope is that its market rating, about 11 times next year's earnings per share, will edge forward to reflect its involvement in support services, where shares tend to sell on a multiple of nearer 14. This will take time, but the shares remain a strong hold says the Times. Coal-fired power
Read moreLondon close: Footsie adds gains as results impress
9th Nov 2010 16:58
Footsie added more gains Tuesday as a stream of company updates was mostly well-received. Fund manager Schroders muscled its way to the top of the Footsie leaderboard, seeing off competition from several other heavy hitters that have made trading updates today. Profits rocketed at Schroders during
Read moreFTSE 250 movers: Petropavlovsk shines as gold advances
9th Nov 2010 16:28
There have been plenty of company updates for investors to ponder today but Petropavlovsk is today's standout stock as higher gold price lifts the miner of the precious metal. The first benefits of the acquisition of rival support services company VT Group helped Babcock put in a strong performance
Read moreLondon afternoon: Stocks come off the boil
9th Nov 2010 14:44
Investors creamed off a few profits over the lunchtime session pushing the Footsie back below 5900. Fund manager Schroders has muscled its way to the top of the Footsie leaderboard, seeing off competition from several other heavy hitters that have made trading updates today. Profits rocketed at Sc
Read moreBroker tips: Marks & Spencer, Babcock, blinkx
9th Nov 2010 13:22
If you are looking to gain exposure to the UK retailing sector then KBC Peel Hunt reckons there are better options available than high street bellwether Marks & Spencer (M&S). KBC Peel Hunt sees "better opportunities in midcap retail" and retains its 'sell' stance on M&S after the retailer's interi
Read moreBroker snap: Babcock sees solid results
9th Nov 2010 12:37
Despite profit being 2% below Panmure Gordon's forecasts, the broker has retained its 'buy' recommendation for Babcock International after a "solid set of first half results". Engineering support services group Babcock delivered an adjusted pre-tax profit of £90.9m, below Panmure Gordon's forecast
Read moreBabcock profits up 27%
9th Nov 2010 08:30
The first benefits of the acquisition of rival support services VT Group helped Babcock put in a strong performance in its latest first half. Yesterday, the defence and support services group'd deputy chairman Lord Hesketh resigned after claiming the two new aircraft carriers his company is buildi
Read moreLord Hesketh quits Babcock over aircraft carrier rant
8th Nov 2010 16:01
Lord Hesketh has resigned as deputy chairman at Babcock International after claiming the two new aircraft carriers his company is building for the Royal Navy will make Britain "a laughing stock". His 17-year career at Babcock - 14 as deputy chairman - was brought to a swift end following an intervi
Read moreBroker snap: Babcock mark down overdone
20th Oct 2010 13:24
With defence spending cuts not as bad as Panmure Gordon initially feared, its optimistic long term thesis in Babcock International remains intact. Shares in the engineering support services company dropped yesterday as the Strategic Defence Review was announced, but the broker said the reaction "lo
Read moreLondon close: Lower finish after sluggish day
29th Sep 2010 16:39
Footsie closed a few points lower at the end of a dull day's trading that was overshadowed by continuing eurozone debt worries. Ireland was the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal B
Read moreFTSE 250 movers: Dairy Crest the cream of the crop
29th Sep 2010 15:19
Dairy Crest is the top riser in the FTSE 250 after announcing that it has renewed a contract to supply the supermarket Morrisons with fresh milk through to 2015. Rail and bus operator FirstGroup, also higher, said it is currently trading in line with management expectations and is on track to deli
Read moreLondon afternoon: Dull mood continues
29th Sep 2010 14:15
Leading shares remain mixed but with a lower bias as investors continue to fret over European debt issues. Debt-stricken Ireland is the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal Bank of
Read moreLondon midday: Footsie hit by debt worries
29th Sep 2010 12:19
Footsie is now in the red after a bright start, with European debt issues again clouding the mood. Debt-stricken Ireland is the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks RBS, Lloyds and Barclays
Read moreLondon open: Transatlantic lift for Footsie
29th Sep 2010 08:51
London has opened handily ahead after the decent close on Wall Street overnight. In company news, British Airways has finally signed its well-flagged transatlantic ticketing and revenue share agreement with American Airlines and merger partner Iberia. It starts in October and is worth a combined $7
Read moreBabcock confident despite pressures on spending
29th Sep 2010 07:42
Engineering support services company Babcock International said current pressures on spending will slow short-term revenue growth but its order book and bid pipeline remain strong. In the first half of the current financial year trading has been strong and in line with management expectations. Th
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