London open: Global growth worries hit stocks
12th Apr 2011 08:22
Stocks are on the back foot after the International Monetary Fund slashed its growth forecasts for the US and amid renewed worries over Japan after its earthquake. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised
Read moreFTSE 250 movers: CPP drops after Barclaycard blow
11th Apr 2011 15:17
CPP has plummeted by over a tenth today after receiving a blow from Barclaycard. CPP, the identity theft and credit card insurer that is under investigation by the Financial Services Authority for certain issues surrounding the sale of its products in the UK, said that Barclaycard has decided to st
Read moreBroker tips: GKN, Gulf Keystone, Airlines
11th Apr 2011 12:13
Charles Stanley downgrades automotive and aerospace engineer GKN to 'reduce', from 'hold', despite first quarter numbers being 'in line', as it believes that automotive market conditions remain tough. "GKN is a typically early cycle investment and as leading indicators roll over and comparatives, e
Read moreBroker snap: Oil price means lower forecasts for airlines
11th Apr 2011 10:33
While Nomura thinks that elevated oil prices will probably fall over the medium term, the Japanese broker prudently factors in the current levels to its earnings estimates for airlines, resulting in forecast reductions at easyJet and Ryanair. Brent oil is 30% higher than the start of the year and n
Read moreFTSE 250 movers: Misys rises after 7% revenue growth
6th Apr 2011 13:24
Financial software provider Misys reported a 7% rise in year on year revenue in the third quarter ended 28 February 2011, following strong demand for its products, and said it was poised to meet medium-term targets, sending shares higher. Budget airline easyJet is flying higher after reporting that
Read moreBroker snap: easyJet still 'neutral' despite strong March
6th Apr 2011 12:31
Credit Suisse sticks with its 'neutral' rating on budget airline easyJet despite March passenger volumes being 11.9% higher than the same time last year. "March figures suggest only a marginal impact from Egypt disruption but we re-iterate we expect a first half pre-tax profit figure towards the lo
Read moreEasyJet flew 4.4m passengers in March
6th Apr 2011 07:26
Budget airline easyJet said it carried 4.4m passengers in March, up 11.9% from 4m the same time a year before. The March load factor, a measure of how well an airline fills its planes, fell to 86.9% from 87.5% the same month a year earlier. That brings the rolling 12 months figure to 87.1%. The a
Read moreTuesday newspaper round-up: Oil, Barclays, National Express
5th Apr 2011 06:25
Oil has hit $120 per barrel for the first time since before the financial crisis - threatening global growth and putting the world at risk of an inflationary shock. Brent crude, the London benchmark, had been trading around $115 per barrel for a fortnight, but the price has crept up over the past co
Read moreFTSE 250 movers: African Barrick rises on Tanzanian success
25th Mar 2011 15:28
African Barrick Gold is a top performer after having further successes with its drilling programme on the Nyanzaga project in Tanzania. Euromoney Institutional Investor, the business publisher and exhibitions organiser, is among the fallers after its pre-close trading update underwhelmed investors.
Read moreBroker snap: Fuel concerns at easyJet
25th Mar 2011 10:34
Credit Suisse slashes the target price of budget airline easyJet by 32% after accounting for higher fuel prices and limited growth next year. A 'neutral' stance is retained. The new target price stands at 330p, down from 464p, after factoring in jet fuel at $1,050/mt for unhedged fuel requirements.
Read moreFTSE 250 movers: C&W Worldwide plummets on 2012 guidance
24th Mar 2011 14:54
C&W Worldwide is doing its best the pull the index lower, falling over 15% after it issued its second profit warning within a year. The telecoms titan now expects flat earnings next year compared with earlier market forecasts of an increase of over £20m from £444m to £470m. The best performing stoc
Read moreBroker tips: Next, easyJet, Lloyds Banking
24th Mar 2011 13:01
Next has revealed a strong set of results with inflation views moderating in the near-term, but Peel Hunt keeps its cautious stance on the retailer as its outlook suggest flat profits in the current year. Pre-tax profit for the 12 months ended January 2011 was up 9% at £551m, slightly above the bro
Read moreBroker snap: easyJet upgraded but risks remain
24th Mar 2011 10:45
Budget airline easyJet has been upgraded to a 'hold', from 'reduce', by Charles Stanley Securities following recent share price weakness, but the broker cuts its earnings forecasts in response to oil prices and risks on bottom-line growth. The broker trims its estimates after the recent surge in oi
Read moreLondon close: Lower finish as Libya turmoil persists
4th Mar 2011 16:56
The top share index closed in the red going into the weekend as the spectre of high oil prices remerged amid continuing turmoil in Libya. Brent crude rose above $116 a barrel as the conflict in Libya continues. Government forces have been cracking down on protesters in Tripoli and there have been c
Read moreLondon afternoon: Footsie turns red
4th Mar 2011 15:19
A weak start on Wall Street has sent London to an intra-day low, with miners turning tail. US monthly non-farm payrolls were better than expected, but not by much. Investors don't look keen to open up any new positions ahead of the weekend. Mining heavyweights Rio Tinto, Anglo American and Kazakh
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