London open: Stocks track losses on Wall Street
27th Mar 2014 08:30
- FTSE 100 pulls back from two-week high - Babcock drops after acquisition, Tullow disappoints - Utilities fall after Ofgem report - UK and US data on tap today techMARK 2,770.54 -0.44% FTSE 100 6,567.22 -0.58% FTSE 250 16,203.40 -0.30% Falls from Babcock, Tullow Oil and utility stocks were weighi
Read moreOfgem sparks competition enquiry to break up 'big six'
27th Mar 2014 07:31
- Ofgem refers Big Six to CMA - CMA's powers include possible break-up of firms - Ofgem announces increased penalties UK energy regulator Ofgem has referred the 'big six' energy companies for a full-scale competition investigation that could see them broken up. Ofgem said the energy firms' bumper
Read moreLondon close: Flat finish for FTSE after earlier gains
26th Mar 2014 16:59
- FTSE closes flat at 6,605.30 - Insurance stocks recover - US 'core' durable goods orders fall techMARK 2,782.65 +0.32% FTSE 100 6,605.30 +0.01% FTSE 250 16,252.92 +0.62% It was a flat finish for the top tier index on Wednesday as investors balanced mixed US data, increased prospects of monetary
Read moreFTSE 100 movers: Standard Life rises on Ignis deal
26th Mar 2014 15:24
Standard Life was making decent gains after agreeing on a deal with Phoenix Group to sell the latter's Ignis Asset Management division. Standard Life said the 390m pound acquisition will enhance earnings from the first full year of ownership. RSA is holding near the top of the leaderboard, part of
Read moreWednesday newspaper round-up: Sainsbury, SSE, Ukraine crisis
26th Mar 2014 06:53
For Clive Black, the Head of Research at Shore Capital, there is now a much more convincing case for the Qatar Investment Authority (QIA) to make a more strategic investment in troubled supermarket operator Sainsbury. After all, the grocer has an attractive annual cash return backed by assets. That
Read moreCentrica buys Irish energy business Bord Gáis Energy
25th Mar 2014 07:32
Centrica has agreed to buy Irish energy business Bord Gáis Energy (BGE) from state-owned Bord Gáis Éireann for 1.1bn euros. The company is joining forces with Brookfield Renewable Energy Partners L.P. and iCON Infrastructure Partners II, L.P to acquire BGE. The transaction is expected to be comple
Read moreSector movers: Energy suppliers fall on fears of competition probe
24th Mar 2014 14:59
Electricity and utility stocks were trading lower on Monday after weekend reports that Ofgem could refer the 'Big Six' energy suppliers to competition regulators. The Sunday Times said that an Ofgem report on the energy market, due this month, could lead to a referral of the Big Six to the Competi
Read moreLondon midday: Stocks fall as Crimea turmoil drags on
24th Mar 2014 11:42
- Ukraine tensions escalate as G7 leaders meet - Interim President orders withdrawal from Crimea - Chinese manufacturing PMI eases - Kentz, Centamin impress, Diploma drops techMARK 2,769.80 -0.75% FTSE 100 6,537.07 -0.31% FTSE 250 16,085.67 -0.46% Heightened geopolitical tensions in Ukraine pushed
Read moreLondon open: Ukraine, China fears weigh on stocks
24th Mar 2014 08:24
- Reports of increased Russian presence near Ukraine border - Chinese manufacturing PMI falls - Standard Life in talks with Phoenix over Ignis - Kentz, Centamin rise after results techMARK 2,779.91 -0.39% FTSE 100 6,549.85 -0.11% FTSE 250 16,173.87 +0.09% UK stocks opened in the red on Monday as r
Read moreSunday newspaper round-up: Life insurers, energy companies, supermarkets
23rd Mar 2014 15:45
The chief executives of some of Britain's biggest life insurers have asked regulators to intervene after the Chancellor's announcement of dramatic changes to the pensions market, the Sunday Telegraph said. The insurance bosses have contacted the Financial Conduct Authority and the Prudential Regulat
Read moreFTSE 100 movers: Morrison leads supermarkets lower
13th Mar 2014 14:55
WM Morrison's share price dropped today after it issued a disappointing set of full-year results, with like-for-like sales falling 2.8 per cent. Chairman Sir Ian Gibson admitted that the company had been slow to adapt to the changing UK grocery market. The supermarket chain guided to an underlying
Read moreTuesday broker round-up UPDATE
11th Mar 2014 09:03
Aviva: RBC Capital takes target price from 400p to 550p upgrading to neutral. Nomura increases target price from 489p to 625p and reiterates a buy recommendation. Balfour Beatty: Citi raises target price from 220p to 310p maintaining a neutral rating. Goldman Sachs reduces target price from 335p to
Read moreFTSE 100 movers: Rolls-Royce jumps on Daimler JV buy-out
10th Mar 2014 14:56
Rolls Royce was in the top spot today after a host of analysts lifted their target prices following the engine group's move last week to buy-out Daimler in their 50-50 joint venture, Rolls-Royce Power Systems (RRPS). After the close of trade on Friday, Rolls-Royce said that it is to buy the remain
Read moreBroker tips: Mondi, AB Foods, Centrica, Taylor Wimpey
10th Mar 2014 12:05
Citigroup has upgraded its rating for Mondi from 'neutral' to 'buy' and raised the target price from 1,110p to 1,260p, saying it sees "another strong year ahead" for the paper and packaging group. "Mondi continues to deliver strong earnings driven by improvements in costs, acquisitions and volume g
Read moreCredit Suisse upgrades Centrica after recent falls
10th Mar 2014 09:46
Credit Suisse has raised its recommendation for British Gas owner Centrica from 'underperform' to 'neutral' after the stock's recent underperformance. "Centrica has been the worst performing utility across the past six months, falling circa 18% versus the pan-euro sector up 22%," the bank said. "O
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