Broker tips: Meggitt, Compass, DMGT
23rd Nov 2011 12:55
UBS has downgraded Meggitt from neutral to sell after cutting back its earnings forecasts for this year and the next. "Meggitt has also outperformed the European aftermarket stocks by 12% over the last three months and is within 7% of its all time high. Meggitt is on the UBS M&A watch list," the br
Read moreLondon midday: Reassuringly dull morning session
23rd Nov 2011 12:01
It has been a comfortingly dull morning session in London after all the excitement of recent weeks, though there is no sign of Footsie bringing an end to its losing streak, though its cause is not helped by the index constituents Man, Next and Standard Life trading in ex-dividend form. MINERS HEAD
Read moreWednesday broker round-up - UPDATE
23rd Nov 2011 09:22
Compass: Seymour Pierce reiterates buy rating and 650p target. Compass: Investec maintains buy and 630p target. Compass: Evolution Securities keeps buy rating and 640p target. Meggitt: UBS downgrades from neutral to sell, target cut from 340p to 330p. SABMiller: Investec upgrades from hold to bu
Read moreBroker snap: Seymour Pierce reiterates buy for Compass
23rd Nov 2011 09:03
Seymour Pierce has reiterated its buy rating and 650p target for contract caterer Compass following the group's full-year results. The broker says that figures were in line with expectations, with revenues up 9.4% and operating profits 9% higher. Operating margin was flat at 6.9% but would have imp
Read moreLondon open: Chinese data weighs on stocks
23rd Nov 2011 08:31
The Footsie fell below the 5,200 level early on, as some gloomy data from China dampened the mood. Weighing on sentiment today is the poor data out from China, which showed factory activity levels dropping to their lowest in 32 months. The HSBC flash manufacturing purchasing managers' index (PMI),
Read moreLondon pre-open: Chinese data to dampen the mood
23rd Nov 2011 07:21
The Footsie is expected to be hit by another wave of selling on Wednesday, its eighth in a row, with City sources predicting the index to open at around 5,156, almost 1% down from yesterday's close of 5,207. The blue chips have lost an average of 6% since Friday 11 November when the FTSE 100 stood a
Read moreCompass breaks through billion pound profit barrier
23rd Nov 2011 07:20
Contract caterer Compass saw its underlying profits before tax burst through the billion pounds barrier for the full year ended 30 September. The firm achieved a 9.4% leap in revenue from £14.47bn to £15.83bn, which led to a 10.6% increase in underlying profit from £922m to £1.02bn (reported profi
Read moreWednesday preview: Compass, Johnson Matthey, BoE minutes ...
22nd Nov 2011 14:55
Contract caterer Compass brings out full-year figures on Wednesday, with the market expecting profits before tax to burst through the billion pounds barrier. Market consensus is for pre-tax profit of £1.01bn on turnover of £15.6bn. Earnings per share are set to rise to 38.7p from 35.7p last year,
Read moreMonday broker round-up - UPDATE
21st Nov 2011 08:23
RBS: Banco Espirito Santo lowers to neutral, cuts target to 22p from 51p. Centrica: Investec puts target price under review, buy rating unchanged. Capita: Credit Suisse cuts target from 780p to 770p, outperform rating kept. Capital Shopping Centres: Seymour Pierce maintains reduce stance and 324
Read moreSunday newspaper round-up: Virgin Money, Eurozone bonds, Resolution
20th Nov 2011 14:00
The big danger for some investors and strategists is that Eurozone bond markets might be broken beyond repair. Matt King, a credit Strategist at Citi, thinks the point of no return was passed long ago. He compares the situation to the triple A U.S. collateralized debt obligation market in 2008 when
Read moreWeek Ahead: Diploma, Compass, central bank minutes
18th Nov 2011 10:33
Next week's batch of expected trading updates is light on FTSE 100 heavyweights and heavy on the second-liners. A number of utilities are due to declare, while there is also a boozy feel to the week with pub groups Enterprise Inns and Mitchells & Butlers going head to head on Tuesday, while London-f
Read moreUPDATE: Friday broker round-up
28th Oct 2011 09:13
HSBC/Standard Chartered: Citi chief economist William Buiter argues today that: "World trade is set for a prolonged boom and a marked transformation. Transaction banking and trade finance should track the direction of trade and economic growth in the long term. (...) Standard Chartered and HSBC shou
Read moreFriday tips round-up: Compass, Homeserve, Shanks
30th Sep 2011 06:27
The trading update from the catering giant Compass did not do much for its share price yesterday. This is a resilient business with a strong balance sheet, so much so that some analysts are eyeing the possibility of a capital return to shareholders in the not-too-distant future. Moreover, on multipl
Read moreFTSE 100 Movers: Tate & Lyle sweeten its way to the top
29th Sep 2011 14:42
Sweeteners group Tate & Lyle was leading the way up after announcing that it expects to perform in line with expectations over the full year after a strong performance in the six months to 30 September. In the speciality food ingredients division, corn-based speciality sweetener and starch volumes
Read moreLondon midday: No rally for FTSE 100 despite Bundestag vote
29th Sep 2011 12:16
London has failed to join European bourses higher following the passing through the German Bundestag of plans to expand the European Financial Stability Fund (EFSF). There were just 85 votes against the idea of expanding the Eurozone's bailout fund, while 523 members of Germany's parliament voted
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