UPDATE: Thursday broker round-up
27th Oct 2011 09:09
Smith&Nephew: Citi reiterates sell. Anglo American: Citi maintains at buy. Invensys: UBS raises to neutral-short term buy from neutral. Lowers target to 225p from 250p. Bellway: UBS keeps at buy, raises target price to 825p from 793p. Lloyds: Credit Suisse cuts target to 31p from 40p, keeps at
Read moreWednesday tips round-up: Bellway (x2), UBM (x2), Xstrata
19th Oct 2011 06:34
In the year to the end of July, Bellway completed sales of 4,922 units; four years ago the figure was a record 7,638 units. Last year's figure was itself an advance of only 7% over the previous year, a time heavily impacted by economic uncertainties around the election. Welcome to the new normal, th
Read moreFTSE 250 Movers: Miners fall, Bellway bucks trend
18th Oct 2011 14:33
Bellway was the top riser after it saw its full-year profits come in ahead of market expectations. Profit before tax in the year to the end of July hit £67.2m, up from £44.4m in 2010 and higher than the consensus forecast of £63.8m. However, it was the miners who were the big fallers, dominating t
Read moreLondon midday: Stocks stuck lower amid growth concerns
18th Oct 2011 12:22
The leading share index remains under pressure, with a slight slowdown in Chinese growth the latest development to jangle nerves over the state of the economy. Latest talk is that increasing the capacity of the European Financial Stability Fund which would be used to bail out stricken Eurozone coun
Read moreBroker tips: BP, Bellway, UBM
18th Oct 2011 10:27
UBS has reiterated its buy rating on oil titan BP following its $4bn settlement with Anadarko, which the broker sees as an "important step towards resolution". "The level of settlement and the costs incurred to date suggest to us that the provisioning for environmental costs and economic charges ma
Read moreBroker snap: Evolution says buy Bellway after 'solid' results
18th Oct 2011 10:26
FTSE 250 house builder Bellway bucked the trend to rise higher on Tuesday after what Evolution Securities called a "solid set of results". The company said that full-year pre-tax profits came in ahead of market expectations, rising from £44.4m to £67.2m in the 12 months to the end of July. Consensu
Read moreUPDATE: Tuesday broker round-up
18th Oct 2011 09:21
BP: UBS raises target from 450p to 480p, keeps buy rating. Whitbread: Peel Hunt keeps buy stance and 2,096p target. Whitbread: Evolution Securities confirms buy recommendation and 1,750p target. F&C Asset Management: Singer Capital Markets cuts target from 70p to 65p, fair value rating kept. Be
Read moreLondon open: Stocks fall as China adds to euro worries
18th Oct 2011 08:24
Stocks are under pressure in early dealings as the seemingly never-ending Eurozone saga rumbles on and growth figures from China raise eyebrows. CHINA ON THEIR MIND Latest talk is that increasing the capacity of the European Financial Stability Fund which would be used to bail out stricken Eurozon
Read moreLondon pre-open: Retreat continues
18th Oct 2011 07:23
Yesterday's weaker trend is set to continue, with investors waiting for further developments on the Eurozone bailout front. City sources predict the FTSE 100 will open down 47 points from yesterday's close of 5,437. Costa Coffee and Premier Inn owner Whitbread saw group like-for-like sales rise by
Read moreHouse builder Bellway ringing up profits
18th Oct 2011 07:15
Bellway, the FTSE 250 house builder, has seen full-year profits come in ahead of market expectations. Profit before tax in the year to the end of July hit £67.2m, up from £44.4m in 2010 and higher than the consensus forecast of £63.8m. This was achieved on turnover of £886.1m (2010: £768.3m) again
Read moreTuesday preview: Bellway, Whitbread
17th Oct 2011 16:06
House builder Bellway issues full-year results on Tuesday which should show the continued revival in profitability since the dark days of 2009, with the company's London-focus and a rebound in the buy-to-let market driving growth. Market expectations are for profit before tax of £63.8m, up from £44
Read moreLondon close: Triple-digit losses as fightback fails
5th Aug 2011 17:06
The top share index closed deep in the red after giving up an afternoon rally that came on the back of heartening job figures in the US. RBS was one of the main casualties, though it bounced off its earlier lows to close down about 7%.Exposure to Greek government bonds and a charge for mis-selling
Read moreLondon midday: Triple-digit losses despite fightback
5th Aug 2011 12:32
Stocks are still posting nasty losses after resuming the slide this morning, though the top share index has come off earlier lows, with Royal Bank of Scotland in particular staging a strong recovery. The stock is down about 5% now, having previously been 20% lower. Exposure to Greek government bond
Read moreLondon open: Royal Bank of Scotland leads the slide
5th Aug 2011 08:23
Stocks are on the slide following the rout in Wall Street last night, with Royal Bank of Scotland in the eye of the storm after exposure to Greece pushed the bank into losses in the second quarter. Exposure to Greek government bonds and a charge for mis-selling of Payment Protection Insurance (PPI
Read moreLondon pre-open: Stocks set for slide as global rout continues
5th Aug 2011 07:39
The top share index is set for triple-digit falls and then some in early dealings as worries over the global economic situation continue to grip markets. US benchmarks suffered their worst one-day decline since the financial crisis of 2008/09 as investors reflected their concerns over the global ec
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