Broker snap: BATS to gain momentum in 2011
25th Feb 2011 11:04
Even though volumes at British American Tobacco (BATS) were down in 2010, Nomura likes the 2011 outlook and stays positive on the tobacco giant. The Japanese broker says that second half volumes (-4%) were always going to be volatile given tax hikes in Japan and the Pakistan uncertainty, due to the
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
Read moreLondon midday: Shares still lower as Libya crisis continues
24th Feb 2011 12:11
Shares are stuck in the red as the oil price stays high amid ongoing turmoil in Libya. The north African country itself only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Saudi Arabia and Algeria. Brent crude jumped to $119.79
Read moreLondon open: Fourth day of falls as oil passes $119
24th Feb 2011 08:31
Shares are down for the fourth day in a row as the Libyan crisis continues to cast a shadow. Today's stream of company results has been given a mixed reception. Worries over the ongoing crisis in Libya - and concerns that other oil rich nations could be affected by protsests - continue to drive the
Read moreBritish American profits up despite lower volumes
24th Feb 2011 08:05
British American Tobacco, the maker of Lucky Strike cigarettes, squeezed out a higher profit in the 2010 as price increases and emerging market growth helped it offset sluggishness in some markets. Pre-tax profits rose to £4.39bn from £4.08bn the previous year on revenues that rose to £43.86bn from
Read moreFTSE 100 movers: Motor insurers on the up
13th Jan 2011 13:31
A number of insurers are higher after they agreed with the OFT to limit the motor-related information they swap. RBS and Aviva were directly involved in the agreement. Admiral has also risen. Bank of America Merrill Lynch has upgraded IMI from neutral to buy. The same broker downgraded British
Read moreSunday newspaper round-up: Royal Bank of Scotland, Bank bonuses, Xstrata...
9th Jan 2011 10:00
Stephen Hester, the chief executive of the Royal Bank of Scotland, is to be paid almost £7m just two-and-a-half years after the state-controlled bank was bailed out by taxpayers. Mr Hester, parachuted in to rescue RBS at the height of the 2008 financial crisis, will take home an estimated £6.8m in
Read moreBroker tips: De La Rue, BATs, Desire
6th Dec 2010 13:09
There is nothing like a bid approach to make a broker reassess the value of a stock and bank note printer De La Rue is no exception to the rule. Confirmation that the crisis-torn company has received a bid approach, believed to be from French rival Oberthur, has prompted Panmure Gordon to whack up
Read moreBroker snap: BATS more attractive than peers
6th Dec 2010 12:52
Nomura Securities has bumped up its price target for British American Tobacco (BATs) as margin progression appears to be ahead of expectations. The new price target is 2750p, and the recommendation remains to buy the shares. "We expect underlying margins to be up 150 basis points [one and a half p
Read moreTobacco firms fight plain packaging idea
22nd Nov 2010 15:06
Tobacco giants British American Tobacco and Imperial are both lobbying against UK government plans to force them to sell cigarettes in plain packaging because they say that it would be playing into the hands of counterfeiters. Worries about the government plan have knocked the share prices of the
Read moreMonday newspaper round-up: Ireland to get €85-90bn bail-out
22nd Nov 2010 06:27
The debt crisis gripping the eurozone claimed its second victim in six months on Sunday night when European finance ministers agreed to a request from Ireland for a multibillion-euro emergency rescue, the FT reports. The bail-out is expected to total €80bn-€90bn and will include contributions from
Read moreSector movers: Tobacco moves ahead after Imperial numbers
2nd Nov 2010 14:52
Unusually on a buoyant day for equities, tobacco is the best performing sector today. This is due to a warm reception for Imperial Tobacco's full-year results. The Gauloises and West firm topped market forecasts with its full year profits, and took a big bite out of its debt mountain. The only ot
Read moreThursday tips round-up: BAT, Carpetright, CSR...
28th Oct 2010 06:06
Tobacco is one of the most defensive sectors in a downturn, for one simple reason. Smokers, particularly in the emerging markets, typically refuse to give up their habits, irrespective of how much companies raise prices. Certainly, the shares of British American Tobacco (BAT), the world's second-lar
Read moreLondon close: Bad day ends badly
27th Oct 2010 16:12
London ended the day heavily in the red as a triple-digit fall on Wall Street knocked an attempted rally by Footsie firmly on the head. Reports suggesting that any new stimulus in the US will be smaller than expected hit the miners with Kazakhmys, Xstrata and Rio Tinto the worst performers. Britis
Read moreLondon afternoon: Rally fizzles out
27th Oct 2010 14:23
Expectations of a weak opening on Wall Street put an end to London's attempt to move into positive territory, and losses lengthened again over the lunch time session. Reports suggesting that any new stimulus in the US will be smaller than expected have knocked the miners with Kazakhmys, Xstrata and
Read more