FX weakness limits revenue growth at BATS
25th Jul 2012 07:20
Organic revenue growth at British American Tobacco was robust in the first half, though currency headwinds in key markets held back reported sales growth. Revenues were flat in the six months to June 30th at £7,452m, more or less unchanged from the £7,438m reported the year before. However, on an o
Read moreWednesday preview: Glaxo, ARM, BATS, Capita, GDP
24th Jul 2012 17:23
GlaxoSmithline's second quarter update should see the group just about manage to increase revenue year-on-year if the analyst community following the pharmaceuticals colossus is on the money. Second quarter revenue is tipped to rise to £6,750m from £6,720m a year earlier, while core operating profi
Read moreThursday broker round-up
19th Jul 2012 09:43
Afren: JP Morgan Cazenove reiterates overweight. Avocet: Westhouse Securities upgrades to buy. Barclays: Goldman Sachs upgrades to neutral, target cut from 250p to 220p. BG Group: Credit Suisse downgrades from outperform to neutral, target cut from 1,660p to 1,500p. British American Tobacco: Inv
Read moreFTSE 100 movers: Glencore and Xstrata rise despite rumours
4th Jul 2012 13:59
Potential merger partners Glencore and Xstrata were high risers despite reports the Xstrata shareholder Knight Vinke said it was against the deal on its original terms. Tobacco giants Imperial Tobacco and British American Tobacco were also in demand after Moody's Investors Service said that Europe
Read moreLondon midday: Footsie edges lower on weak PMI data
4th Jul 2012 11:34
- PMI data from China and Europe disappoints - US markets closed for July 4th - Investors await policy decisions tomorrow The Footsie was trading within a narrow range of just 17 points on Wednesday as volumes were seen to be light given that Wall Street is closed for Independence Day. Disappointin
Read moreLondon open: Markets cautious ahead of policy decisions
4th Jul 2012 08:38
- Ex-div stocks provide a drag in London - Chinese economic data dampens the mood - US markets closed for national holiday UK stocks slipped in early trading on Wednesday with volumes expected to be light as US markets remain closed for Independence Day; investors are likely to be cautious ahead of
Read moreWednesday broker round-up
4th Jul 2012 08:19
African Minerals: Jefferies keeps buy rating and 800p target. Anite: Jefferies raises target from 155p to 160p, buy rating retained. Barclays: Nomura downgrades from neutral to reduce, target cut from 268p to 210p. British American Tobacco: AlphaValue downgrades from add to reduce, target raised
Read moreLondon open: Stocks fall on Chinese data, US growth
21st Jun 2012 08:40
- Chinese PMI falls to seven-month low - Fed extends 'the twist', lowers GDP forecast - Miners provide a drag in London Disappointing economic data from China and a downward revision to US growth dented the Footsie in early trading on Thursday, with mining stocks bearing the brunt of the sell-off.
Read moreMonday broker round-up - UPDATE
18th Jun 2012 08:20
Anglo American: UBS cuts target from 3,260p to 3,100p, buy recommendation maintained. Barclays: AlphaValue downgrades from buy to add, target kept at 230.2p; Nomura keeps neutral rating and 268p target. British American Tobacco: Citigroup retains buy rating. Essar Energy: Citigroup initiates cove
Read moreGlencore's Glasenberg buys another round
11th Jun 2012 15:49
Ivan Glasenberg, the Chief Executive Officer at Glencore International, has stayed true to his word and made another significant share purchase using part of the money he received from the firm's latest dividend payout. The director bought 2.83m shares at an average price of 356.65p for a total of
Read moreSector movers: Defensives bear the brunt of increased risk appetite
29th May 2012 15:24
Defensive sectors were firmly out of favour on Tuesday as investors shifted into 'riskier' assets such as mining stocks. Food and drug retailers were the worst performers, with heavyweight supermarket peers Tesco, Sainsbury and Morrison registering moderate losses in afternoon trade. Other defensi
Read moreBATs free to pursue tax rebates back to 1973
23rd May 2012 10:48
British American Tobacco (BATs), the principal test claimant in a court action against Her Majesty's Revenue and Customs (HMRC), is busy trying to decode the Supreme Court's judgement in the case but it looks like the group will be able to put in claims for tax rebates dating back to 1973. Admittin
Read moreBroker tips: Shell, BATS, Elementis
27th Apr 2012 11:21
Credit Suisse has highlighted the better-than-expected figures from oil titan Royal Dutch Shell in the first quarter but has maintained its neutral rating and 2,530p target price on the stock, saying that shares are 'not especially cheap in our view'. The broker says that the stock is trading at se
Read moreBroker snap: BATS has dominant market position, says Jefferies
27th Apr 2012 10:59
Jefferies has reiterated its buy recommendation for cigarettes and tobacco giant British American Tobacco (BATS) following the group's 'encouraging' start to 2012. Organic revenue growth of 6%, in line with the broker's estimates, while organic volumes growth of 0.7% was better than expected (no ch
Read moreFriday broker round-up - UPDATE
27th Apr 2012 09:21
AstraZeneca: Credit Suisse maintains underperform rating and 2,600p target. ASOS: HSBC upgrades from neutral to overweight, target cut from 1,900p to 1,780p. Barclays: Nomura reiterates neutral recommendation and 268p target. British American Tobacco: Jefferies maintains buy recommendation and 3,
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