Sector movers: BT lifts telecoms higher
3rd Feb 2012 16:19
Telecoms giant BT Group was lifting the fixed line telecommunications sector on Friday afternoon following its well-received third quarter results announced this morning. BT saw pre-tax profits rise from £441m last year to £652m in the three months to December 31st. Over the first three quarters, p
Read moreFTSE 100 movers: Admiral leads the way higher
3rd Feb 2012 13:17
Insurance group Admiral jumped into the top spot after extending its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re until 2014. "Reinsurance has been at the core of Admiral's successful business model since 2000 and we look forward to continuing o
Read moreLondon midday: Admiral leads the rise ahead of US data
3rd Feb 2012 12:03
Stocks were up at the day's best levels by lunchtime following a subdued start, with insurance outfit Admiral leading the charge. Miners on the other hand, are providing a drag, pulling back from their strong showing yesterday on the back of heightened M&A speculation in the sector. Markets were gi
Read moreBroker tips: BT, Misys, GAME
3rd Feb 2012 11:27
Nomura has maintained its buy rating on BT, saying that the telecom titan's trading momentum is building nicely for 2012. BT now expects to achieve its EBITDA target of above £6,000m this year, rather than in 2013. "With consensus already sitting at £6.01bn for FY 12, we expect marginal upgrades t
Read moreBroker snap: BT building momentum, says Nomura
3rd Feb 2012 09:31
Nomura has maintained its buy rating on BT, saying that the telecom titan's trading momentum is building nicely for 2012. BT reported this morning that revenue totalled £4,774m in the third quarter, down 5% on last year, while earnings before interest, tax, depreciation and amortisation (EBITDA) in
Read moreFriday broker round-up - UPDATE
3rd Feb 2012 09:09
Royal Bank of Scotland: Deutsche Bank downgrades to hold from buy. BT Group: Nomura reiterates buy recommendation and 285p target. AstraZeneca: Nomura keeps reduce rating and 2,400p target. GlaxoSmithKline: Nomura reiterates neutral rating and 1,220p target. Royal Dutch Shell B: Nomura raises ta
Read moreLondon pre-open: Cautious start ahead of US data
3rd Feb 2012 07:25
City sources predict the FTSE 100 will open down around 9 points from yesterday's close of 5,796, ahead of Friday's non-farm payrolls data, the first major US economic indicator relating to the month of January. Telecoms giant BT saw revenue fall 5% in the third quarter, while profits jumped 48%.
Read moreBT to hit earnings targets early - UPDATE
3rd Feb 2012 07:12
Telecoms giant BT saw profits jump 48% in the third quarter, as the firm announced that it would hit its 2013 earnings target a year early. "We have delivered another quarter of growth in profits and cash flow despite the economic headwinds," said Chief Executive Ian Livingston. Pre-tax profits ro
Read moreFriday preview: BT's third quarter revenues set to fall
2nd Feb 2012 15:49
Telecoms giant BT issues third quarter results in which comparisons with rival British Sky Broadcasting (BSkyB), which released figures earlier this week, will inevitably be made. UBS expects the figures to be solid, but points out that the company's competitors are set to up their game this year,
Read moreSector movers: Transport sector moved by consolidation developments
27th Jan 2012 15:28
Consolidation among shipping brokers may be underway, after ACM Shipping Group confirmed it has received a bid approach. RS Platou, the private Norwegian ship and offshore broking company, is talking to ACM about an offer, probably at around the 175p per share level The Telecommunications sector i
Read moreFTSE 100 movers: Recovering Essar in top spot
18th Jan 2012 14:54
Essar Energy was leading the way higher after a court ruling in India wiped 26% of the company's share price yesterday. The ruling appeared to put an end to Essar's use of a tax scheme for its oil refining operations in the state of Gujarat, which had seen the company defer $1.235bn in tax payment
Read moreBroker snap: UBS downgrades BT to neutral
18th Jan 2012 10:32
UBS has downgraded telecoms giant BT from buy to neutral on the back of concerns surrounding rising competition and pensions. The stock was a strong performer in 2011, outperforming the UK market by 16%, and while the broker expects third quarter results (due on February 3rd) to show ongoing solid
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreLondon close: French downgrade rumours sink Footsie
13th Jan 2012 16:34
Markets turned south in afternoon trade on rumours of imminent action by ratings agency Standard & Poor's (S&P) to downgrade the ratings of several Eurozone countries. A senior Eurozone government official has been cited as saying that both France and Austria could have their ratings downgraded by
Read moreLondon midday: Gains trimmed as US futures fall
13th Jan 2012 12:03
The Footsie's earlier gains were pared by lunchtime as US stock futures slipped ahead of key earnings report from JP Morgan Chase & Co and the University of Michigan Consumer Sentiment Index. Italy issued €4.75bn in medium-term debt, the top of its €3-4.75bn target range. The borrowing costs of Ju
Read more