London afternoon: Footsie in drift mode
7th Apr 2010 14:46
Footsie is becalmed after a weak start in the US and mixed news on the UK economy. Hedge fund giant Man remains the best performer. Last night the company disclosed that the net asset value of the AHL fund had risen 3.81% last week, prompting brokers Execution Nobel to rush out a 'buy' note, while
Read moreFTSE 250 movers: Marston's update cheers market
7th Apr 2010 14:14
Investors are queuing up to buy shares in Marston's following a trading update. Food sales from its managed pubs continued to lead growth in the half year to April 3 and the company, which owns the Pitcher & Piano chain, remains on track to meet expectations for the full year. Electrical parts dis
Read moreLondon midday: Footsie flat on quiet morning
7th Apr 2010 12:04
Footsie has recovered its early losses but investors are struggling to find reasons push it any higher ahead of the US open. The share price of hedge fund giant Man has become a lot more volatile since it switched to more frequent updates of the performance of its flagship AHL fund. Last night th
Read moreLondon open: Blue chips drift lower
7th Apr 2010 08:51
Blue chips have opened lower following an indecisive performance in the US last night as concerns over the financial health of Greece resurfaced. Hedge fund giant Man is one of the few strong risers alongside property giants Land Securities and Hammerson. Mobile phone giant Vodafone is to launch a
Read moreElectrocomponents to top expectations
7th Apr 2010 07:21
Electrical parts distributor Electrocomponents has seen sales put on a growth spurt in February and March, which should see full year profits come in ahead of expectations. The company thinks profit before tax in the year to 31 March 2010 will be around £73m. In the quarter ended 31 March 2010 gro
Read moreLondon close: Weak finish as banks retreat
18th Mar 2010 16:35
London closed in the red after a mixed opening on Wall Street as banks and miners ran into profit taking. Among the big caps, GlaxoSmithKline was the best performer, after rival drug group, Switzerland's Novartis, had to hand back US rights of a drug widely considered a generic copy of Glaxo's top
Read moreLondon afternoon: Back to square one
18th Mar 2010 15:19
A mixed opening on Wall Street has provided no guidance for a similarly rudderless London market. Among the big caps, GlaxoSmithKline is the best performer, after rival drug group, Switzerland's Novartis, had to hand back US rights of a drug widely considered a generic copy of Glaxo's top selling
Read moreFTSE 250 movers: BlueBay helped by upbeat analysts
20th Jan 2010 14:49
UBS has upgraded fixed income fund manager BlueBay to 'buy' from 'neutral' with price target up to 400p from 360p ahead of tomorrow's second quarter update. The broker thinks assets under management will have risen 9% to $34bn from $31.1bn at the end of September, driven primarily by further net f
Read moreGalliford Try chief exec builds up stake
11th Dec 2009 16:37
Greg Fitzgerald, chief executive of Galliford Try, has lifted his stake in the construction group. He took 13,490 shares at 296.5p a time, paying a total of about £40,000, and now has 585,008. Shares in the company have jumped by about 40% in the past year. Last week it announced its acquisitio
Read moreBroker tips: Domino's Pizza, Majestic Wine, Electrocomponents
16th Nov 2009 12:59
Shares in Domino's Pizza have risen by a third in price since the beginning of September, prompting Charles Stanley to downgrade its rating, despite the pizza delivery outfit issuing another upbeat trading statement on Monday morning. The company has announced its intention to buy back 6m shares at
Read moreBroker snap: Margins a concern at Electrocomponents
16th Nov 2009 12:38
Nomura Securities has bumped up its price target for Electrocomponents after the electrical parts company's trading update on Friday, but remains concerned about pressure on margins. 'Sales trends have recently improved, which could have geared impact on bottom line,' the broker said, explaining it
Read moreSunday tips round -up: Electrocomponents, TT Electronics, Kewill
15th Nov 2009 10:32
There are two main reasons to hold shares in distributor Electrocomponents. The first is the chunky yield and the second is the group's strong operating leverage to an upturn. In the six-month period to September 30, pre-tax profits slipped 58.1% to £24.8m on revenues that were 15.3% lower at £447.
Read moreLondon close: Good end to the day and week
13th Nov 2009 16:44
London headed into the weekend in an upbeat mood as Wall Street started the day strongly and investors took a shine to property giants as the close neared. British Land, shopping centre owner Liberty and Hammerson finished in the top five risers by the end of the day. A modest rally in the dollar
Read moreLondon afternoon: Footsie flat
13th Nov 2009 14:54
Stocks are trading little changed as weak miners cancel optimism elsewhere. A modest rally in the dollar has caused traders to pocket profits ahead of the weekend. ENRC, Vedanta, Xstrata and Antofagasta have fallen. British Airways has turned tail as the market assesses terms of its proposed merg
Read moreBroker tips: BT, Kazakhmys, Electrocomponents
13th Nov 2009 12:34
Nomura has turned negative on Kazakh miner Kazakhmys because it thinks the local currency may be revalued upwards, tax cuts may be limited and the shares fully reflect the strength in copper. The Japanese broker's stance on the shares is cut to 'reduce' from 'buy' with target price slashed to 1,065
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