London close: Company updates impress, Euro-crisis rages on
3rd Nov 2011 16:36
The Footsie finished near its highest levels of the day on hopes that the Greek referendum will be cancelled. Nevertheless, it was a busy day for investors with rumours in the Eurozone dominating the swings in the market throughout the session, and the European Central Bank revealing a surprise deci
Read moreFTSE 100 movers: Updates broadly impress, Tate & Lyle jumps
3rd Nov 2011 16:03
Tate & Lyle jumped over 5% higher after reporting stronger-than-expected first half results with adjusted pre-tax profits of £180m. The sweeteners group said the numbers, which were 10% ahead of what analysts expected, came as a result of strong demand across a number of markets. Panmure Gordon rais
Read moreLondon midday: Back in the blue, Tate & Lyle leads the rise
3rd Nov 2011 12:10
The Footsie was back in the blue by midday after an up-and-down morning, as investors keep a close eye on developments in the Eurozone. However, dampening sentiment closer to home has been a study by National Institute of Economic and Social Research (NIESR) which suggested that the UK economic fa
Read moreMan Group rises on share buy back announcement
3rd Nov 2011 09:47
Man Group, the FTSE 100 hedge fund manager, has risen strongly in early trading after revealing a $150m share buy back programme . The firm also revealed adjusted pre tax profits of $195m for the six months to the end of September down 14% on the same period of 2010. The figure comes at a very di
Read moreFTSE 100 Movers: Man Group leads the way lower
1st Nov 2011 13:57
Man Group was heading lower despite Credit Suisse reiterating its outperform rating and 235p target on the stock. The stock has been contaminated by association with its former subsidiary, US futures broker MF Global, which applied for bankruptcy yesterday. Barclays was close behind after UBS downg
Read moreLondon midday: Mass sell-off on Greek default risks
1st Nov 2011 12:02
News that Greece is to hold a referendum on its latest bailout package and some worrying economic data at home and away rattled the markets on Tuesday, with the Footsie dropping close to 3%, while other European benchmarks fell by between 4% and 5%. GREEK REFERENDUM SCARES MARKETS The decision by
Read moreUPDATE: Tuesday broker round-up
1st Nov 2011 09:33
Man Group: Credit Suisse reiterates outperform rating and 235p target. Barclays: UBS downgrades from buy to neutral, target raised from 208p to 215p. Barclays: Investec keeps buy rating and 330p target. Legal & General: Nomura keeps buy rating and 180p target. Legal & General: Investec keeps sel
Read moreMF Global files for bankruptcy but may have found buyer
31st Oct 2011 14:13
The future of derivatives broker MF Global is in doubt after the company, once a subsidiary of Man Group, filed for bankruptcy this Monday morning. The company, headed by former Goldman Sachs executive Jon Corzine, has had its status as a 'primary dealer' suspended by the Federal Reserve Bank of N
Read moreUPDATE: Wednesday broker round-up: Goldman takes down Man and SSE
12th Oct 2011 09:16
Man: Goldman Sachs takes target price down to 230p from 290p. Scottish & Southern: Goldman Sachs adds to 'Conviction sell' list. Imperial Tobacco: Credit Suisse reiterates overweight. United Utilities: Morgan Stanley downgrades to 'neutral'. Robert Walters: Credit Suisse retains at neutral and
Read moreLondon open: Financial drag Footsie towards 5,000
4th Oct 2011 08:30
The poor performance seen Monday has continued with the Footsie dropping towards the 5,000 mark once again in the opening minutes, as concerns in the Eurozone continue to dominate the markets. Nevertheless, there were further messages of support for Greece - even if they have yet to be backed up by
Read moreUPDATE: Monday broker round-up
3rd Oct 2011 09:03
Antofagasta: Citi upgrades to hold, target cut from 1,230p to 1,010p. Man Group: Citi has kept its hold/high risk rating and 190p target. Lonmin: Citi maintains hold/medium risk recommendation and 1,237p target. Burberry: Nomura reiterates neutral rating and 1,356p target. Cookson: UBS upgrades
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 moreMan bosses rally round
29th Sep 2011 15:06
Weakness in the share price of Man Group has prompted directors to splash out on big stakes in the hedge fund manager. Man Group, which sponsors the Man Booker literary price, saw a return to form of its flagship fund AHL in the second quarter of its financial year, as its 'alternative style' polic
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 moreBroker tips: HSBC, Standard Chartered, Man Group, Ferrexpo
29th Sep 2011 12:09
UBS has cuts its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earning
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