London close: Markets start 2013 in bullish mood
3rd Jan 2013 17:03
- Footsie jumps 150 points in two days - Markets react to mixed economic data - UK 10-year bond yields above two per cent London's blue-chip index was able to build on Wednesday's massive surge today in the aftermath of the fiscal cliff deal Stateside on New Year's Day. Market analyst Michael Hews
Read moreFTSE 250 movers: Fresh blood for Chemring
3rd Jan 2013 15:50
Defence firm Chemring was one of the top risers after its Chief Executive put boots on the ground in the form of new directors of finance and human resources. Investec has reiterated its 'buy' rating and 280p target price for Chemring, highlighting Thursday's appointment of new FD Steve Bowers. "
Read moreLondon midday: Markets cautious in fiscal deal aftermath
3rd Jan 2013 11:27
- Markets subdued after yesterday's 2.2 per cent jump - Concerns over US economy weigh on sentiment - Next cheers investors with festive update The FTSE 100 was broadly flat by Thursday lunchtime as stocks held on to yesterday's impressive 2.2 per cent surge on the back of the US fiscal cliff deal
Read moreBroker tips: Next, Experian, Chemring
3rd Jan 2013 10:57
Panmure Gordon has lifted its price target for retailing group Next from 3,770p to 3,848p following the company's Christmas trading update on Thursday morning which showed 'continued strength'. However, despite the forecast upgrades, Panmure retained its 'hold' rating for Next. "Trading on a FY2013
Read moreBroker snap: New FD marks important step for Chemring, says Investec
3rd Jan 2013 10:39
Investec has reiterated its 'buy' rating and 280p target price for defence contractor Chemring following Thursday's appointment of a new Finance Director in Steve Bowers. "We regard Steve highly and the market should welcome a further strengthening of the executive team charged with steering the gr
Read moreLondon open: Stocks flat after impressive rise
3rd Jan 2013 08:16
UK stocks were registering only slight losses on Thursday morning as markets managed to hold on to yesterday's impressive gains following the New-Year's-Day agreement to avert the fiscal cliff in the US. Providing some support early on was the China non-manufacturing purchasing managers' index whic
Read moreChemring Group announces new Finance Director
3rd Jan 2013 08:02
Chemring Group has appointed Steve Bowers as Group Finance Director, the company reported Thursday. He will take over from Nigel Young who has been Interim Chief Financial Officer since last July. Bowers worked as a Finance Director for Umeco, a provider of composite materials to aerospace and def
Read moreChemring secures US military order
20th Dec 2012 07:27
Defence contractor Chemring said its US arm had received a 32 million dollar order for mine detection kit from the US military. The subsidiary, Non-Intrusive Inspection Technology, will supply spare parts to the US Army and US Marine Corps. The deal is part of a supply contract for its Husky Moun
Read moreThursday broker round-up UPDATE
29th Nov 2012 07:27
Aberdeen Asset Management: Morgan Stanley raises target price from 365p to 375p; keeping an overweight rating. ASOS: Societe Generale raises target price from 2500p to 2530p and reiterates its hold recommendation. Babcock International: UBS downgrades from buy to neutral. Barratt Developments: HS
Read moreWednesday tips round-up: Chemring, KCom, Cranswick
28th Nov 2012 06:34
"About the best news from Chemring Group's latest trading statement was that there wasn't any more bad news," wrote The Times´s Tempus column on Wednesday morning. That came after the outfit´s latest profit warning, on November 1st, which was its fourth over the past year or so and led to a potenti
Read moreLondon close: Markets pare gains as investors digest Greek deal
27th Nov 2012 16:39
- Europe grants Greece more aid - OECD cuts growth estimates - Footsie comes off day's highs by the close After a solid start for the Footsie following last night's Greek bailout deal, gains were pared by the close of trade on Tuesday with some saying that the agreement just kicks the can down the
Read moreFTSE 250 movers: Mitchells & Butlers sinks on poor outlook
27th Nov 2012 15:52
Mitchells & Butlers, the UK's largest operator of managed restaurants and pub, was unwanted after noting it had made a slow start to the new financial year, partly because of unseasonably warm weather in the same period in 2011. India-focused Essar Energy was also lower as shares retreated after m
Read moreSector movers: Chemring lifts defence stocks
27th Nov 2012 14:00
A well-received trading update from Chemring pushed the aerospace and defence sector higher on Tuesday afternoon. Following a profit warning earlier this month, British defence-equipment maker Chemring said that trading remained in line with expectations at the end of the financial year (ended Octo
Read moreLondon midday: Stocks hold on to gains despite gloomy OECD forecast
27th Nov 2012 11:28
- Greek aid deal lifts stocks - OECD cuts growth forecasts - UK Q3 GDP growth confirmed at one per cent Stock markets across Europe were trading firmly in positive territory on Tuesday morning following last night's Greek aid deal; however the bounce was only moderate with analysts saying that the
Read moreLondon open: Footsie gains after Greek deal
27th Nov 2012 08:25
Banks and mining stocks were providing a lift to equity markets on Tuesday morning as risk appetite increased on the back of last night's Greek bailout deal. After countless delays, Eurozone finance ministers finally inked out an agreement on Greece, giving the green light to the disbursement of th
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