Broker tips: AG Barr, Centrica, ABF
24th Mar 2015 17:46
Analysts at Investec Securities upgraded their full year forecast for soft drink producer AG Barr, citing strong performances and acquisitions. On Tuesday, the FTSE 250 group said that its profit on ordinary activities, before tax and exceptional items, increased by 10% to £41.9m, as all the group's
Read moreLondon close: FTSE 100 pares session gains to end lower on low inflation woes
24th Mar 2015 17:01
London's FTSE 100 index underperformed its European peers on Tuesday as investors cut exposure on the back of inflation data from the UK and US. Inflation in the UK fell to zero while in the US, it moved out of the negative zone back into zero. With inflation in both countries at the same rate, defl
Read moreFTSE 100 movers: ABF hit by euro weakness, Centrica lower on election risk
24th Mar 2015 14:14
Primark owner Associated British Foods tripped lower after Swiss bank Credit Suisse lowered its earnings forecasts for the company citing euro weakness. "AB Foods doesn't usually feature in our regular FX updates on the sector, but given the severity of the euro's demise it should. For ABF the impac
Read moreCentrica cut to 'sell' by Deutsche Bank on UK election risk
24th Mar 2015 10:04
UK utility giant Centrica had its rating cut to 'sell' from 'hold' by Deutsche Bank who cited the upcoming UK elections as a risk. "The UK's energy utilities are facing the riskiest general election since 1992 and Centrica looks most exposed," said Deutsche Bank. It believes Centrica's shares could
Read moreLondon close: FTSE 100 books new all-time highs to close above 7000
20th Mar 2015 16:52
Dovish central banks and fading worries about Greece exiting the Eurozone propelled the London market to record fresh all-time highs on Friday. At Friday's close, the FTSE 100 index stood strong at 7022.51, up 0.8% on the day, off a touch from its session high of 7024.21. "The FTSE 100's landmark m
Read moreFTSE 100 movers: CRH higher on merger agreement, Next hit by downgrade
20th Mar 2015 12:53
CRH was the biggest gainer on the Footsie after building materials giants Lafarge and Holcim agreed upon terms for a merger. Shares in Tullow Oil surged after the West Africa-focused exploration outfit announced it had successfully negotiated for access to £450m in fresh financing. Morrison was als
Read moreMoody's downgrades Centrica as political pressures mount
20th Mar 2015 09:38
Moody's has downgraded the issuer rating and senior unsecured ratings of British Gas owner Centrica from Baa1 from A3. In a ratings action after the close of markets on Thursday, Moody's said its downgrade primarily reflected lower energy prices and generally poorer trading conditions for Centrica.
Read moreLondon close: Energy stocks lift markets ahead of Budget, as investors await Fed
17th Mar 2015 16:32
After dipping into the red around midday, UK stocks rallied into the close with the FTSE 100 finishing 0.5% higher on the back of decent gains in the oil sector ahead of Wednesday's Budget statement. Rumours about potential tax breaks for North Sea oil and gas producers were providing energy stocks
Read moreMonday broker round-up
16th Mar 2015 15:59
Bodycote: N+1 Singer downgrades to hold. Morrrison: Deutsche Bank lifts target to 210p from 190p and reiterates hold. Centrica: Deutsche Bank reiterates hold and 280p target price. Rio Tinto: HSBC downgrades to neutral. IGas Energy: Cannacord Genuity lowers target to 85p from 125p and reiterates
Read moreLondon close: Resource and utility stocks drag markets lower, data comes in weak
13th Mar 2015 16:45
UK stocks bounced off their lowest levels of the day by the close but still ended in the red as falling mining, energy and utility shares provided a drag. After touching a low of 6,713.50, London's FTSE 100 finished down 20.49 points (-0.3%) at 6,740.58, ending the week down 2.5%. Brent crude was t
Read moreLondon midday: Markets slip after weak construction data, utilities fall
13th Mar 2015 12:03
Stocks in London dipped into the red on Friday morning after data showed an unexpected decline in UK construction output, while utility shares weakened on political uncertainty. The FTSE 100 was down 0.35% at 6,737.10 by midday with SSE and Centrica among the worst performers. Construction output d
Read moreBritish Gas and Northern Powergrid appeal against Ofgem pricing rules
4th Mar 2015 08:20
Two energy companies have started an appeal process against electricity price guidelines imposed by regulator Ofgem. Centrica's British Gas and Berkshire Hathaway's Northern Powergrid have sought permission from the Competition and Markets Authority (CMA) to appeal against regulator Ofgem's November
Read moreFTSE 100 movers: Barclays and Glencore fall after annual results, Taylor Wimpey higher
3rd Mar 2015 13:44
Shares in Barclays fell after the bank set aside a total of £1.25bn for provisions to cover litigation costs related to ongoing probes into mis-selling PPI and rigging foreign exchange rates. The news came as Barclays reported a pre-tax loss of £532m for the fourth quarter. Commodities trader and mi
Read moreFriday tips round-up: Centrica, Rexam
20th Feb 2015 17:43
In an unexpected move, Centrica's new chief, Iain Coon, decided to cut the dividend pay-out for the first time in the company's history. It was reduced by 30% to its lowest since 2009. At approximately 4.2%, and down from 6.1%, the company's dividend yield is now almost the worst in the sector. That
Read moreSector movers: Utilities SSE and Centrica trading lower
20th Feb 2015 14:48
UK electricity stocks were trading lower again on Friday while the utility sector was subdued as energy provider Centrica extended losses after some gloomy annual results the previous session. Electricity stocks such as SSE have fallen over recent days after a Competition and Markets Authority (CMA)
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