Chemring says pyrotechnics not firing
1st Mar 2012 08:00
Defence group Chemring says it is trading in line with expectations but that its long-serving Finance Director will step down by the end of July. The first three months of its accounting year (November to January) have seen revenues of £137m, compared to £136m at the same point in 2011. Chemring s
Read moreAnalysts disappointed by BAE contract loss to Dassault
1st Feb 2012 15:44
Fitch Ratings has spoken out about the Indian government's decision to select Dassault Aviation over UK defence contractor BAE Systems for a major contract, saying the competition underlines the increasing importance of emerging markets in this space. "The deal demonstrates the growing importance
Read moreChemring Chairman stocks up
31st Jan 2012 16:15
Peter Hickson, Chairman of Chemring, the military equipment maker, has treated himself to £94,475-worth of shares in the firm. Hickson, who joined the group in mid-2011, bought up 25,000 shares at 377.9p each. On January 24th the company reported a rise in both revenues and profits during 2011 d
Read moreHydrodec director stocks up, and it's another purchase for Tesco
25th Jan 2012 14:29
Andrew Black, a non-executive director of Hydrodec, the "clean" oil re-refining group, has topped up his stake in the firm with a £26,500 purchase of shares. The transaction came just four days after the company announced that revenues for 2011 will come in significantly ahead of 2010. Sales of t
Read moreWednesday broker round-up - UPDATE
25th Jan 2012 09:00
Ashmore: Barclays upgrades to overweight from neutral. Glencore: UBS cuts target from 530p to 490p, buy rating unchanged. Vodafone: Nomura reiterates buy rating and 230p target. Britvic: Nomura keeps buy recommendation and 425p target; Collins Stewart gives sell rating and 290p target. WH Smit
Read moreWednesday tips round-up: Chemring and Nautical Petroleum
25th Jan 2012 06:49
The Times's Tempus column goes to war for the defence equipment manufacturer Chemring. It was battered yesterday, falling 12.6% after suggesting the coming year could be quite tough. Tempus argues the market may have overreacted as Chemring is looking outside NATO for customers. The firm is also boo
Read moreLondon close: Stocks down on Greek concerns
24th Jan 2012 16:41
- Banks sold off as Greek talks continue. - S&P downgrades three French banks. - IMF cuts world GDP growth forecast. UK stocks were off their intraday lows but still finished firmly in the red on Tuesday, with global markets in negative territory as European leaders continue to argue over Greece
Read moreFTSE 250 movers: Chemring in bottom spot
24th Jan 2012 14:44
Military equipment maker Chemring was the biggest faller after saying that its traditional markets "will not be any easier this year". Investors seemed to focus more on what finnCap called a "lacklustre" outlook statement and less on the 25% rise in revenue and 6% improvement in underlying pre-tax p
Read moreLondon midday: Banks drag Footsie lower
24th Jan 2012 11:44
- Banks sold off as Greek talks continue. - S&P downgrades three French banks. - Defensives in demand. The banks had dragged London's blue chip index to its lowest levels of the day by lunchtime as eyes continued to be fixed on the Eurozone. While the attention seems to be mostly on Greece, the d
Read moreBroker tips: Chemring, Thomas Cook, Retailers
24th Jan 2012 11:40
FinnCap has maintained its hold rating and 480p target price for military equipment maker Chemring following the firm's full-year results which the broker says were accompanied with a "fairly lacklustre outlook statement regarding NATO spending". "The shares have bounced by around 17% over the last
Read moreBroker snap: Chemring results lower than expected, says finnCap
24th Jan 2012 11:37
FinnCap has maintained its hold rating and 480p target price for military equipment maker Chemring following the firm's full-year results which the broker says were accompanied with a "fairly lacklustre outlook statement regarding NATO spending". Underlying profit before tax was up 6% to £125.6m in
Read moreTuesday broker round-up - UPDATE
24th Jan 2012 09:09
Ashmore: Royal Bank of Scotland downgrades to hold from buy. Hargreaves Lansdown: Royal Bank of Scotland downgrades to sell from hold. Weir: Goldman Sachs reiterates buy. Vedanta Resources: HSBC cuts target price to 1,320p from 2,110p; Credit Suisse keeps neutral stance and 1,400p target. Pear
Read moreLondon open: Cairn, financials weigh on Footsie
24th Jan 2012 08:32
UK stocks fell in early trading on Tuesday, giving up some gains made yesterday, as talks in Greece continue to drag on. Despite banks and other private institutions represented by the Institute of International Finance (IIF) having presented yesterday what they considered to be their "maximum offe
Read moreChemring bucks defence cuts but investors take flight -UPDATE
24th Jan 2012 07:19
Military equipment maker Chemring saw revenues and profits rise in 2011 despite cutbacks in defence spending in its biggest markets. Underlying profit before tax was up 6% to £125.6m in the year to the end of October. Revenues were up 25% to £745.3m compared to the year before, allowing the firm t
Read moreFTSE 250 movers: Invensys in bottom spot
13th Jan 2012 13:25
Engineering and software group Invensys found itself in last place following a profit warning. A disappointing 12 months has got a lot worse as the company issued a warning on profits after uncovering a number of problems with the delivery of contracted work. Shares dropped nearly 21% after the co
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