Thursday broker round-up
15th Oct 2015 10:40
(ShareCast News) - Serco Group: HSBC downgrades to reduce, cuts target price to 77.00p. Burberry Group: Bank of America downgrades to neutral. Target price: 1500.00p. Nomura reiterates to buy, cuts target price to 1700.00p. WH Smith: Peel Hunt Limited downgrades to add, raises target price to 1680.
Read moreMerrill Lynch downgrades Burberry after results miss forecasts
15th Oct 2015 10:32
(ShareCast News) - Bank of America Merrill Lynch downgraded Burberry to 'neutral' and cut its target price to 1,500p after the fashion group's first-half sales fell short of forecasts. The FTSE 100 group reported first-half sales of £1.105bn, flat at constant exchange rates and 5% below consensus es
Read moreLondon pre-open: Stocks to edge higher ahead of US data, Fed speakers
15th Oct 2015 07:36
(ShareCast News) - Equity markets in Europe were expected to move higher at the start of trading on the back of overnight gains in the Asian trading session, as investors digest the potential implications of the dovish US Federal Reserve Beige book published on Wednesday night. Footsie is expected t
Read moreBurberry plunges after altering outlook on slower sales in second quarter
15th Oct 2015 07:04
(ShareCast News) - Burberry has scrambled to cut costs after sales slowed in the second quarter as the luxury market, particularly for Chinese customers, became "increasingly challenging". Total sales were almost flat at £1.1bn in the six months to 30 September, with retail sales up 3% to £774m at t
Read moreLondon close: Stocks close lower on UK deflation, weak Chinese trade data
13th Oct 2015 16:12
(ShareCast News) - The FTSE 100 ended down 28.90 points to 6,342.28 on Tuesday as September data showed the UK experienced deflation and China's exports and imports declined. The Office for National Statistics said the UK consumer price index fell 0.1% year-on-year last month, compared to analysts'
Read moreFTSE 100 movers: SAB surges on AB InBev agreement; Royal Mail slumps
13th Oct 2015 13:59
(ShareCast News) - London's FTSE 100 was down 1.1% by mid afternoon at 6,304.21 as uninspiring Chinese trade figures and UK inflation data weighed on investors' minds. London-listed brewer SABMiller surged after it agreed in principle to a possible £44 per share takeover offer from Belgium-based Anh
Read moreBurberry director resigns
24th Sep 2015 14:56
(ShareCast News) - Non-executive director David Tyler has resigned from the board of Burberry. The news was announced to the market on Thursday, and will take effect on 31 December. Chairman Sir John Peace paid tribute to Tyler's work. "I would like to thank David for his immense contribution to B
Read moreFTSE 100 movers: Slide continues on yuan devaluation
12th Aug 2015 16:36
(ShareCast News) - London's FTSE 100 was down by 1.84% to 6,541.50 at 1620 BST as the devaluation of the yuan continued to drag on stocks. There were only a handful of gainers on the FTSE 100 on Wednesday as oil stocks were flat rather than falling. Spreadex's analyst Connor Campbell said while com
Read moreFTSE 100 movers: Prudential rallies as first-half numbers impress, Burberry slumps on yuan devaluation
11th Aug 2015 14:36
(ShareCast News) - London's FTSE 100 index was down 0.8% at 6,681 at 1500 BST, as the devaluation of the yuan hit the heavily-weighted mining sector. Prudential was the standout gainer after the insurer posted a better-than-expected 17% rise in first-half operating profit and lifted its interim divi
Read moreChina cuts renminbi rate in record currency devaluation
11th Aug 2015 07:04
(ShareCast News) - China has devalued its currency, the renminbi, by the largest amount on record to try and boost its slowing economy, with new reforms announced that will allow the currency rate more freedom to be moved by the market. In a shock move, the central bank slashed the renminbi's daily
Read moreFTSE 100 movers: Royal Mail dips as Ofcom suggests price cap, M&S hit by executive resignation
17th Jul 2015 15:37
(ShareCast News) - London markets were little changed on Friday, as hawkish comments from Bank of England Governor Mark Carney were balanced by Germany voting in favour of Greece's bailout package. As of 15:00 BST, the FTSE 100 was trading flat at 6,783. Royal Mail topped the fallers after Ofcom su
Read moreBroker tips: Burberry, Apple, Shire
16th Jul 2015 11:26
(ShareCast News) - Despite wider analyst concerns about a Chinese slowdown on Burberry, Goldman Sachs reiterated its 'buy' recommendation on the fashion group and said it expected the shares to rerate considerably higher. A 12-month target price was 2,323p, offered 47% upside to the last closing pri
Read moreBattered Burberry a 'buy' for bullish Goldman Sachs
16th Jul 2015 10:06
(ShareCast News) - Despite wider analyst concerns about a Chinese slowdown on Burberry, Goldman Sachs reiterated its 'buy' recommendation on the fashion group and said it expected the shares to rerate considerably higher. A 12-month target price was 2,323p, offered 47% upside to the last closing pri
Read moreFTSE 100 movers: Anglo American leads miners higher, Burberry hit by weak Asian sales
15th Jul 2015 14:36
(ShareCast News) - London markets were subdued on Wednesday, as strong performances from telecommunications, insurance and property stocks were offset by weakness in the oil, engineering and software sectors. As of 14:30 BST, the FTSE 100 was trading flat at 6,762. On the corporate front, Anglo Ame
Read moreLondon open: Stocks rally on upbeat Chinese data
15th Jul 2015 09:43
(ShareCast News) - The FTSE 100 opened higher after better-than-expected Chinese data. China's gross domestic product (GDP) rose 7% year-on-year in the second quarter, above forecasts for a 6.8% increase. "The second quarter's stronger-than-consensus GDP growth partly reflects an unsustainable surg
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