London close: Stocks slip as growth concerns dampen sentiment
14th Feb 2013 16:30
The FTSE 100 had picked up off its intraday low by the end of the session on Thursday, but a barrage of worse-than-expected economic growth figures from across the globe ensured that markets remained in negative territory. Buying picked up slightly in afternoon trade after initial US jobless claims
Read moreFTSE 250 movers: Bumi falls as infighting continues ahead of vote
14th Feb 2013 15:37
Bumi plc shares tumbled as co-founders of the coal miner financier Nathanial Rothschild and the Bakrie Group continued to butt heads over fate of the business. Shareholders are meeting next Thursday to vote on a proposal by Rothschild to replace members of the board. Furthermore, overnight shares of
Read moreLondon midday: Stocks sink as Eurozone contracts further in Q4
14th Feb 2013 12:05
After hitting a fresh five-year high the day before, London's benchmark FTSE 100 index slumped on Thursday morning as traders reacted to weaker-than-expected economic growth figures from Japan and across Europe. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.
Read moreBritvic A.G.Barr merger in question pending Competition Commission probe
14th Feb 2013 11:10
The proposed merger of soft drinks manufacturers Britvic and A.G.Barr lost some of its fizz after the companies announced that the Competition Commission had opened an investigation. The groups reported that the Office of Fair Trading had referred the merger to the Competition Commission due to con
Read moreBroker tips: Rio Tinto, G4S, Britvic
14th Feb 2013 10:44
Rio Tinto may have swung to its first-ever annual loss in 2012, but Nomura has kept its 'buy' rating and 3,700p target price for the stock, calling its full-year results 'solid' with adjusted profits coming in ahead of forecasts. The broker labelled Rio as an attractive and relatively low-risk expo
Read moreBroker snap: OFT decision on Britvic-AG Barr merger 'bewildering', says Panmure
14th Feb 2013 09:58
Panmure Gordon has retained its 'hold' rating and 380p target price for soft drinks group Britvic after Wednesday's announcement that the Office for Fair Trading (OFT) has referred the firm's proposed merger with AG Barr to the Competition Commission. The rationale behind OFT's move is said to be o
Read moreLondon open: Markets flat as stocks digest GDP figures
14th Feb 2013 08:37
Markets opened broadly flat on Thursday morning, pausing after hitting a fresh five-year high the day before, as investors showed caution on a busy day for economic data. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.1% in the fourth quarter, down 0.4% on an
Read moreThursday broker round-up UPDATE
14th Feb 2013 08:09
African Barrick Gold: Deutsche Bank cuts target price from 410p to 340p, while staying with its hold recommendation. Investec reduces target price from 405p to 315p and downgrades from buy to hold. JP Morgan lowers target price from 370p to 290p and downgrades to underweight. AG Barr: Barclays down
Read moreThursday newspaper round-up: Japanese GDP, John Lewis, Shale oil...
14th Feb 2013 06:47
Japan remained mired in recession in the last three months of 2012 as the economy defied experts' expectations for a mild rebound, a development that could help insulate Tokyo against criticism over stimulus policies that have shaken up global currency markets. Government data indicated that Japanes
Read moreThursday broker round-up UPDATE
24th Jan 2013 08:20
Ashtead Group: Jefferies raises target price from 450p to 525p and keeps a buy recommendation. Aviva: Berenberg cuts target price from 480p to 470p, while retaining a hold recommendation. JP Morgan revises target price from 424p to 443p and maintains an overweight rating. Barr (AG): Societe Genera
Read moreLondon pre-open: Decent gains expected as FTSE pushes closer to 6,200 mark
23rd Jan 2013 07:26
City sources predict the FTSE 100 will open up 20 points from yesterday's close of 6,179, tracking gains seen in the US overnight. The main Wall Street indices finished the day slightly higher, despite the release of similarly contradictory quarterly results from a batch of corporate heavyweights.
Read moreWednesday broker round-up UPDATE
23rd Jan 2013 07:05
Aberdeen Asset Management: Societe Generale downgrades to hold, while its target price of 375p is not altered. Amara Mining: Investec reduces target price from 89p to 83p and reiterates a buy recommendation. Associated British Foods: Jefferies raises target price from 1365p to 1650p keeping a hold
Read moreFirst quarter revenue up five per cent at Britvic
23rd Jan 2013 06:59
Group revenue rose 4.8 per cent to 303.2m pounds at soft-drinks manufacturer Britvic, according to an interim management statement for the first quarter trading performance. The rise was underpinned by a 5.4% increase in revenue from its British operations and a 4.3% rise in revenue in France drive
Read moreSector movers: Beverage stocks rise after SABMiller's decent Q3
22nd Jan 2013 15:29
A well-received third-quarter trading statement from drinks giant SABMiller lifted beverage stocks higher on Tuesday, as markets celebrated an acceleration in sales growth for the Miller Lite and Foster's maker. Reported revenues, which include the effect of acquisitions and disposals, increased by
Read moreNew date provided for proposed Britvic-Barr merger decision
16th Jan 2013 09:02
A decision about the proposed all-share merger between soft drinks manufacturers A.G. Barr and Britvic is expected to be announced on February 13th, according to a revised timetable advised by the Office of Fair Trading (OFT). Today's announcement comes shortly after Britvic announced that the OFT
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