Chemring revenues hit by sequestration in third quarter
28th Aug 2013 07:08
Chemring, the manufacturing company serving the defence markets, saw a sharp year-on-year decline in revenue in the third quarter as it continues to feel the effects of automatic spending cuts in the States. Revenue totalled £142.8m in the three months to July 31st, down 13.5% from the £165.1m repo
Read moreIG Group CEO sells 5.1m-pound stake
25th Jul 2013 15:57
Tim Howkins, the Chief Executive Officer of spread-betting firm IG Group, sold over five million pounds-worth of shares in the company this week, just one day after the firm unveiled record annual profits. Howkins, who joined IG as Finance Director back in 1999, disposed of a total of 903,103 share
Read moreLondon midday: FTSE 100 pulls back from seven-week high
19th Jul 2013 11:25
Mining stocks were among the worst performers on Friday morning, providing a drag on the FTSE 100 as risk appetite declined following the index's seven-week high reached the day before. London's benchmark index closed at 6,634 on Thursday; the last time the index finished higher was on May 30th whe
Read moreBroker tips: Banks, Chemring, DCC
19th Jul 2013 11:25
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. The broker pointed out that HSBC has marginally outperformed the FTSE 100 so far this year and now trades within just 4.0% of its 57-mo
Read moreBroker snap: UBS downgrades Chemring to 'neutral'
19th Jul 2013 11:02
UBS has downgraded its recommendation for defence technology firm Chemring from 'buy' to 'neutral' on the back of cuts to short-term profit forecasts. The broker has reduced its target price from 360p to 330p after lowering earnings before interest, tax and amortisation (EBITDA) estimates for the y
Read moreThree Darty board members boost stakes after results
25th Jun 2013 16:14
Three executives at Darty have made the most of the recent falls in the European electrical retailer's share price by topping up their stakes, just a week after the company revealed that it had swung into the red in the last financial year. Chairman Alan Park purchased 339,000 shares (equal to 0.06
Read moreWednesday tips round-up: Chemring, Alcatel-Lucent, Majestic
19th Jun 2013 06:03
Chemring Group, which supplies military munitions and counter-measures, has been affected by falling defence spending as the West gradually withdraws from Afghanistan, according to The Times' Tempus column. The group has had a difficult few months which saw the departure of its Chief Executive, Davi
Read moreLondon midday: Stocks rise as markets await Fed policy decision
18th Jun 2013 11:20
Markets were issuing decent gains on Tuesday morning with investors choosing to be optimistic ahead of the all-important monetary policy meeting in the States which concludes tomorrow. Helping sentiment this morning was Germany's closely-watched ZEW survey which showed that the economic sentiment i
Read moreDefence cuts hit Chemring
18th Jun 2013 07:34
Defence technology firm Chemring said first half revenue was hurt by reduced demand from it Countermeasures and Pyrotechnics & Munitions operations as it warned its markets are likely to remain challenging into 2014, particularly in the US. Revenue declined to £297.4m in the first six months of the
Read moreFriday broker round-up UPDATE
14th Jun 2013 08:15
Amlin: UBS starts with a target price of 400p and a neutral rating. Cairn Energy: JP Morgan takes target price from 320p to 340p maintaining a neutral rating. Catlin: UBS initiates with a target price of 475p and a neutral rating. Chemring: Credit Suisse increases target price from 210p to 260p a
Read moreThursday broker round-up UPDATE
13th Jun 2013 07:01
African Barrick Gold: Citi moves target price from 175p to 124p and maintains a sell recommendation. ASOS: Nomura raises target price from 2970p to 3400p keeping a neutral rating. Exane increases target price from 4200p to 5000p and retains its outperform rating. Citi ups target price from 4400p to
Read moreChemring's US subsidiary scores 76m dollar delivery order
3rd Jun 2013 13:55
FTSE 250-listed Chemring Group has reported that its US subsidiary, Non-Intrusive Inspection Technology (NIITEK), has been awarded a further delivery order worth 76m dollars to provide spares for the Husky Mounted Detection System (HMDS) for the US Army. The company reported that the delivery ord
Read moreChemring wins news order from US Army
24th Apr 2013 08:36
A subsidiary of Chemring Group has been awarded a further delivery order to provide spares for the Husky Mounted Detection System (HMDS) for the US Army. The order, worth $24m, supplements the $9.0m order received by the UK-based Non-Intrusive Inspection Technology (NITTEK) subsidiary in February.
Read moreLondon midday: FTSE 100 on track for fourth straight loss
17th Apr 2013 11:39
A number of heavyweight stocks going ex-dividend assured that London's FTSE 100 index was in the red for a fourth consecutive day on Wednesday, while concerns over the global economy continued to weigh on sentiment. Global growth fears have hit markets over the last few days after a surprise slowdo
Read moreThursday tips round-up: Barclays, Chemring, AstraZeneca
4th Apr 2013 07:20
Yesterday's Salz report into what went wrong at Barclays makes for interesting reading but adds little to the promises which have already been made. Nevertheless, it does shine a light on some problems, such as that of high pay for average performers. In any case, the review will help hold the new g
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