MARKET TALK: VAT Hike Good For UK Water, Energy - Deutsche
23rd Jun 2010 07:19
0619 GMT [Dow Jones] The VAT increase announced by the UK Chancellor will benefit UK water and energy networks, says Deutsche Bank. Says the increase will be a benefit for the regulated networks since it will feed through to inflation via the retail price index. Says the government's revised RPI for
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 07:19
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0619 GMT [Dow Jones] Nomura upgrades Drax (DRX.LN) to neutral from reduce, and raises its price target to 425p from 350p, on
Read moreMARKET TALK: Nomura Upgrades Drax To Neutral From Reduce
17th Jun 2010 07:19
0619 GMT [Dow Jones] Nomura upgrades Drax (DRX.LN) to neutral from reduce, and raises its price target to 425p from 350p, on the back of strengthening gas prices and a more attractive valuation. Notes the new target price offers about 10% upside potential, alongside an attractive and secure dividend
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
16th Jun 2010 07:48
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0648 GMT [Dow Jones] Citigroup upgrades Drax Group (DRX.LN) to hold from sell, and increases its target price to 405p from 39
Read moreMARKET TALK: Citigroup Upgrades Drax Group To Hold
16th Jun 2010 07:48
0648 GMT [Dow Jones] Citigroup upgrades Drax Group (DRX.LN) to hold from sell, and increases its target price to 405p from 395p. Says the upgrade is to reflect both the improving commodity price environment for UK coal-fired generators, and latest forward contracting positions and guidance. "UK forw
Read moreMARKET TALK: JPMorgan Ups Drax To Neutral From Underweight
14th Jun 2010 07:40
0640 GMT [Dow Jones] JPMorgan upgrades Drax (DRX.LN) to neutral from underweight and raises price target to 365p from 330p, reflecting the strong upward earnings pressure given the rally in UK gas and electricity prices over the last three months. While JPM is not convinced the rally is sustainable,
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
14th Jun 2010 07:40
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0640 GMT [Dow Jones] JPMorgan upgrades Drax (DRX.LN) to neutral from underweight and raises price target to 365p from 330p, r
Read moreWednesday tips round-up: Prudential, Drax, Britvic
19th May 2010 06:45
If you can't afford the rights - or are unwilling to stump up the cash - the Telegraph thinks it is best to sell all of your Prudential holding alongside your rights, rather than be diluted out of the dividend and earnings to this extent. Sell up and walk away. Hopefully investors who do this will
Read moreDrax bolstered by forward sales
18th May 2010 08:07
Drax's forward sales helped the coal-fired power station through the current uncertain conditions in the commodity power market. Forward contracts currently account for sales of 24.5 TWh (terrawatt hours) in 2010, 15.2TWh in 2011 and 9.5TWh in 2012. "While trading conditions in the commodity mark
Read moreSector movers: Songbird weighs on real estate
26th Mar 2010 14:00
The real estate sector is higher despite weakness in the share price of Songbird Estates. Docklands office complex Canary Wharf's value increased in the second half of 2009, owner Songbird Estates said today, as it recovered from the collapse of Lehman Brothers, a key tenant. Songbird, which had t
Read moreBroker tips: Logica, Drax, Rentokil
24th Feb 2010 13:10
Logica's 2009 results were in-line operationally and ahead of expectations at the earnings per share (EPS) level, which should help the software firm close the valuation gap on peers, thinks Piper Jaffray. It notes that guidance for 2010 also remains strong compared to peers, with the public sector
Read moreBroker snap: Charles Stanley sits on Drax fence
24th Feb 2010 12:49
The stock market and the share price of Drax Group have gone in opposite directions over the last year and a majority of brokers that cover the company remain bearish on the stock. Broker Charles Stanley is stuck in the middle after the coal-fired power station owner's 2009 results announced on Tue
Read moreLondon close: Footsie suffers lack of confidence
23rd Feb 2010 16:21
A terrible report on US consumer confidence sent Wall Street spiralling lower, dragging London's leading index deep into the red late on. UK shares started well enough, but weakened steadily through the morning and spent much of the afternoon dipping in and out of negative territory until the US da
Read moreLondon afternoon: Stocks drift lower
23rd Feb 2010 15:16
A weak opening on Wall Street has dragged Footsie lower, though the number of fallers among the blue-chip index's constituents barely outnumbers the risers. Wolseley is leading the risers, after surprising the market with an unscheduled trading update. The building supplies group said it expects p
Read moreLondon midday: Leading shares mixed
23rd Feb 2010 12:13
For the second day in succession the FTSE 100 has turned lower after a moderately bright start. Comments on the fragility of the UK economy from Bank of England governor Mervyn King have given investors pause for thought. King, appearing before a parliamentary committee, said: 'There have been some
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