Broker snap: MS turns bullish on BT
16th Jun 2009 11:38
Long time BT sceptic Morgan Stanley has joined the BT fan club now that the worst seems to be over at the telecommunications giant's troubled Global Services division. The US bank has upgraded its rating of the shares from 'equal weight' to 'overweight' and lifted its price target from 130p to 140p
Read moreSector movers: BT lifts telecoms
16th Jun 2009 11:32
Fixed line telecommunications has been given a boost with BT topping the risers after broker Morgan Stanley upgraded the stock to "overweight" and increased its price target. "We see a 3-4 year target for the shares of around 190 pence, but the market could get there far sooner if it sees evidence
Read moreLondon close: Footsie ends down
12th Jun 2009 16:34
London's top stocks have finished slightly lower despite a late flurry as a lacklustre start on Wall Street kept stocks down. Indian refiner and miner Vedanta led the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has decl
Read moreLondon afternoon: Stocks still in the red
12th Jun 2009 15:08
London's top stocks are still in the red, with a lower start on Wall Street adding to the earlier pressures. Indian refiner and miner Vedanta leads the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has declined to take p
Read moreBroker tips: BT, WPP, Arm Holdings
12th Jun 2009 13:26
The share price of telecoms giant BT has taken a battering this year but Merrill Lynch believes the shares are now low enough to be worth buying. The US broker reckons that the problems at the Global Services arm and the worries over the company's pension deficit are factored into the share price.
Read moreBroker snap: Battered BT battles back
12th Jun 2009 13:12
The share price of telecoms giant BT has taken a battering this year as the company has struggled to get to grips with its troublesome Global Services unit, but Merrill Lynch believes the shares are now low enough to be worth buying. The US broker reckons that the problems at Global Services and th
Read moreFriday newspaper round-up: BlackRock buys Barclays Global
12th Jun 2009 06:19
BlackRock, the giant US money manager, is to buy Barclays Global Investors for $13.5bn (£8.2bn) in a deal that will make it the world's biggest asset manager, the Times reports. The sale, which also includes the iShares business, will more than double BlackRock's assets to roughly $2.7trn and give
Read moreDomino's vice chairman sells £1m slice
1st Jun 2009 14:50
Colin Halpern, vice chairman of the pizza delivery firm Domino's, has pocketed more than £1m after offloading some of his shares in the group. H S Real, a company owned by a discretionary trust, the beneficiaries of which are his children, sold 500,000 shares at 205p a share. The sale leaves Halpe
Read moreBT cancels pay rises
27th May 2009 12:06
Telecoms firm BT has cancelled all pay rises and cut back on bonuses because the company did not meets its financial targets for the year. "The Committee decided to postpone the increases in on-target bonus levels for 2009/10. In addition, there will be no increases in the salaries of executive di
Read moreOfcom gives BT some leeway
22nd May 2009 07:45
Telecoms regulator Ofcom will allow BT to raise the price it charges its rival for broadband line rentals by just under 6%, but is still mulling over charges for old-style telephone services. Under the new tariffs, BT can charge £86.40, up from £81.69, for a fully unbundled line, where a rival take
Read moreMonday newspaper round-up: Lloyds Banking, Shell, BT
18th May 2009 06:20
The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall. A powerful combination of investors as well as business and political leaders are arguing that the superbank should be de
Read moreSunday's newspaper round-up: Lloyds, RBS, cash-calls
17th May 2009 13:31
Sir Victor Blank is believed to be close to stepping down as chairman of Lloyds Banking Group following pressure from investors furious about the bank's rescue of HBOS, says the Independent on Sunday. The City regulator has fired the opening shot in its inquiry into the crisis that engulfed Britain
Read moreSector movers: Petrofac lifts oil service stocks
15th May 2009 13:42
Oil services stocks are in the blue after Petrofac said it made a strong start to the year, with the oil and gas facilities provider's backlog doubling to $8.2bn at the end of April. Chairman Rodney Chase is confident 2009 will be another year of strong growth after its biggest business, engineerin
Read moreLondon close: Late surge boosts blue chips
14th May 2009 16:48
A late surge helped Footsie close firmly in the blue after it traded within a narrow range for the bulk of the day. BT set a gloomy tone with worse than anticipated results and a dividend cut more severe than predicted, but other results got a more encouraging response. Insurer Prudential rose by
Read moreLondon afternoon: Footsie remains range-bound
14th May 2009 14:39
The FTSE 100 continues to trade within a narrow range, unable to move outside the 4,320 to 4,340 corridor since mid-morning. Though there has been a flood of company results, the mixed reaction to these is representative of the market's indecision today. The market was braced for bad news from BT b
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