London midday: Broker upgrades and data lift UK stocks as Greek hopes rise
23rd Jun 2015 12:05
Better-than-expected economic data and improving optimism surrounding Greece strengthened stock markets on Tuesday morning, with sentiment also lifted by a raft of broker upgrades. The FTSE 100 was trading 0.25% higher at 6,842.53 by midday with Sports Direct, Smith & Nephew, Johnson Matthey, Diageo
Read moreLondon open: Stocks continue to advance on Greek hopes
23rd Jun 2015 09:08
UK stocks advanced again on Tuesday morning, extending the strong rally seen the previous session as hopes over a short-term funding deal for Greece continued to increase. The FTSE 100 was up 0.18% at 6,837.85 after a 1.7% jump on Monday. Optimism surrounding Athens picked up on Monday following a
Read moreBunzl delivers in line trading statement, reports drop in organic revenue growth
23rd Jun 2015 07:56
International distribution and outsourcing group Bunzl said that revenue for the first half of 2015 is expected to have grown 6% due largely to growth at constant exchange rates thanks mainly to the positive impact of acquisitions. Organic revenue growth of 1% also contributed to the growth, but was
Read moreLondon pre-open: Stocks to pause after previous surge, Greece in focus
23rd Jun 2015 07:54
UK stocks are expected to open flat on Tuesday morning after a surge the previous session as investors await further developments on Greece. City sources predict the FTSE 100 will open five points lower than Monday's close of 6,825.67. Hopes over a short-term funding deal for Athens increased on Mo
Read moreBunzl announces acquisition of four new businesses
23rd Jun 2015 07:04
Distribution company Bunzl on Tuesday announced that it has acquired four businesses in the US, Colombia, Canada and France. The FTSE 100 group has agreed to buy International Sourcing Company, which sells a variety of personal protection equipment, principally gloves, to distributors throughout the
Read moreBunzl raised to 'buy' by Deutsche Bank
22nd Jun 2015 09:42
Deutsche Bank upgraded Bunzl to 'buy' from 'hold' and raised the target price to 2,000p from 1,900p. "We have admired Bunzl's fundamentals for years: Bunzl is a cash compounder with a resilient business model and plenty of opportunities for consolidation within its multiple end markets," said Deutsc
Read moreLondon midday: Stocks dip as investors shrug off strong retail sales
21st May 2015 11:58
Stronger-than-expected retail sales data wasn't enough to boost London's stocks on Thursday with markets rangebound as the FTSE 100 continues to fluctuate around the 7,000 mark. UK retail sales jumped 1.2% in April, according to the Office for National Statistics, more than making up for the 0.7% de
Read moreBunzl subsidiary implementing new project streamlining platform
23rd Apr 2015 03:35
Bunzl Distribution, a US subsidiary of global logistics and outsourcing giant Bunzl, is deploying a new project management IT platform from NYSE-listed ServiceNow, which it hopes will lead to headline efficiency savings, according to the executive managing the rollout. Speaking to Sharecast in Las V
Read moreFTSE 100 movers: Sainsbury's breaks key technical level
15th Apr 2015 13:07
Sainbury's was top of the leaderboard due to a technical move higher, according to City traders, in what was described as a "very squeezy" market where all top risers in Europe all have big short bases. The grocer's shares started the day's move higher after breaking a key technical level in early t
Read moreLondon midday: Stocks at new all-time high on Chinese stimulus hopes
15th Apr 2015 11:38
UK stocks were at a new record on Wednesday with investors looking on the bright side of weak economic from China, with hopes for further stimulus from Beijing pushing miners higher. Chinese economic growth slowed to a six-year low, while growth in fixed-asset investment, industrial production and r
Read moreBroker tips: Next, Burberry, Bunzl, Tullow, Vesuvius
15th Apr 2015 11:24
UK high street retailer Next raced up the FTSE 100 index on Wednesday after JPMorgan lifted its rating on the company to 'overweight' from 'neutral'. While JPMorgan favours Marks & Spencer stock on three-to-six month view for its ongoing turnaround potential, the US investment bank sees scope for Ne
Read moreInvestec downgrades Bunzl to 'hold' on limited upside
15th Apr 2015 11:22
Investec has lowered its rating on Bunzl from 'buy' to 'hold', saying that its sees "limited upside" to its target price for distribution and outsourcing stock. Bunzl said on Wednesday that trading was in line with expectations with organic revenue growth at 2% in the first quarter, slightly behind
Read moreLondon open: Stocks set new record as Chinese slowdown fuels stimulus hopes
15th Apr 2015 08:44
UK stocks reached a new all-time high on Wednesday morning as a raft of weak economic figures from China gave shares in the heavyweight mining sector a boost on hopes of further stimulus from Beijing. Chinese economic growth slowed to a six-year low, while growth in fixed-asset investment, industria
Read moreBunzl first quarter revenue rises on acquisitions
15th Apr 2015 08:12
Business supplies distributor Bunzl said trading in the first quarter was in line with expectations put forward at the company's annual results announcement in February. The FTSE 100 company posted a 6% increase in revenue on an annualised basis, driven by underlying growth of approximately 2% and t
Read moreWednesday broker round-up
14th Apr 2015 18:58
Bunzl: Investec reiterates hold with 2,00p target. Michael Page: JP Morgan Cazenove reiterates neutral and lifts target to 490p from 479p. Vesuvius: JP Morgan Cazenove downgrades to neutral. Next: JP Morgan Cazenove lifts recommendation to overweight with a 7,700p target, up from 7,100p. Greggs:
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