Friday broker round-up
26th Oct 2012 10:00
African Barrick Gold: Investec cuts target from 530p to 526p, hold rating kept. APR Energy: UBS cuts target from 600p to 530p, sell rating unchanged; Jefferies cuts target from 850p to 625p, hold rating kept. ASOS: Deutsche Bank downgrades to hold; Nomura ups target from 1,930p to 2,000p, neutral
Read moreLondon open: Stocks decline ahead of US GDP
26th Oct 2012 08:28
- Stocks nervous after US corporate earnings - Markets cautious ahead of US GDP - Anglo advances on CEO exit The FTSE 100 index declined in early trading on Friday as markets showed caution ahead of a pivotal gross domestic product (GDP) report due out in the US this afternoon. The report, schedul
Read moreElementis profits hit by slowdown in oilfield drilling
26th Oct 2012 07:35
Speciality chemicals group Elementis said it remains on track to hit earnings per share (EPS) forecasts this year due to a lower tax rate, but headline operating profits will be hit by a temporary slowdown in oilfield drilling. The company, which provides functional additives to many markets includ
Read moreSector movers: BASF and AZ Electronic provide a catalyst for chemicals
25th Oct 2012 15:48
The chemicals sector was in its element on Thursday afternoon after some well-received results from German chemicals giant BASF and FTSE 250 firm AZ Electronic Materials. The company, which reported 8.0% sales growth in the third quarter to €19.01bn, said that it still remains on track to hit its f
Read moreElementis completes Brazilian deal
1st Oct 2012 07:42
Specialist chemicals company Elementis said it had completed its purchase of Brazilian firm Watercryl Quimica, giving it a bigger foothold in a rapidly growing market. Elementis bought the coatings additives company for $24m in cash, in a deal announced in June. The British firm hopes to combine t
Read moreElementis to expand production capacity at Virginia industrial park
24th Sep 2012 12:25
Speciality chemicals group Elementis has said that in response to market demand it is planning to expand production capacity for speciality rheological additives and dispersants for water-based coatings at an industrial park owned by Bayer MaterialScience in New Martinsville, West Virginia. Constr
Read moreLondon open: BP and ex-div stocks provide a drag early on
5th Sep 2012 08:34
- ECB meeting eyed - Australian, Chinese data disappoints - BP, ex-div stocks weigh on Footsie Following a 1.5 per cent fall for the Footsie the day before, UK stocks opened lower once again on Wednesday morning with investors likely to remain cautious ahead of tomorrow's eagerly anticipated Europe
Read moreLondon close: Markets cautious before Fed decision
31st Jul 2012 16:54
- Footsie drops 1.02 per cent as risk rally fades - BP, Weir and RBS sold off - Markets await decisions from the Fed and ECB London's FTSE 100 index finished the day firmly in the red as a barrage of earning reports from some European heavyweights disappointed and investors showed caution ahead of
Read moreFTSE 250 movers: Elementis gains on cash return plans
31st Jul 2012 15:13
Results from speciality chemicals group Elementis galvanised the share price after the cash-rich group announced plans to return surplus funds to shareholders on a regular basis. Profit before tax in the first half of 2012 rose 12% to $79.0m from $70.6m the year before, on the back of a marginal i
Read moreLondon midday: Markets in the red despite mining strength
31st Jul 2012 11:26
- Recent global risk rally shows signs of fading - European blue-chips (BP, Weir, UBS, Deutsche Bank) - Markets await central bank action London's equity markets were broadly lower on Tuesday as sentiment was dampened by heavyweight corporates (BP, Weir, UBS, Deutsche Bank) missing analysts' estima
Read moreElementis lobbing out cash to shareholders
31st Jul 2012 09:37
Results from speciality chemicals group Elementis galvanised the share price on Tuesday after the cash-rich group announced plans to return surplus funds to shareholders on a regular basis. Profit before tax in the first half of 2012 rose 12% to $79.0m from $70.6m the year before, on the back of a
Read moreTuesday broker round-up
31st Jul 2012 09:19
Dignity: N+1 Brewin upgrades to add, target raised from 880p to 950p. Diploma: Jefferies reiterates buy rating and 510p target. Elementis: N+1 Brewin upgrades to buy, target upped from 220p to 230p. EnQuest: HSBC upgrades to overweight, target lifted from 135p to 143p. Faroe Petroleum: Nomura ra
Read moreSector movers: Croda, Elementis lift chemicals sector higher
26th Jun 2012 14:23
The chemicals sector was the best performing category on Tuesday afternoon on the back of decent performances by Croda International and Elementis. Croda, the FTSE 100 manufacturer of speciality and oleochemical products, was trading around 2.5% higher after JP Morgan Cazenove upgraded the stock fr
Read moreLondon pre-open: Small rise expected in early trading
26th Jun 2012 07:37
City sources predict the FTSE 100 will open up 12 points from yesterday's close of 5,451 after Monday's declines, which saw the index drop 63 points on the back of comments made by German Chancellor Angela Merkel, who underlined her opposition to the issuing of common euro area bonds. Internationa
Read moreElementis expands LatAm operations
26th Jun 2012 07:22
FTSE 250 chemicals group Elementis has agreed to buy Brazilian coatings additives company Watercryl Quimica, providing a platform for its Specialty Products Division to expand in a fast growing market. Watercryl, which generated sales of $9.3m and EBITDA (earnings before interest, tax, depreciation
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