Numis downgrades Fenner after profit warning
30th May 2014 09:26
A profit warning from polymer products group and conveyor belt maker Fenner has prompted Numis Securities to downgrade its rating on the stock from 'add' to 'hold'. After the company revealed that annual results for the year ending August will be below forecasts owing to weakness in US coal, Numis
Read moreFriday broker round-up UPDATE
30th May 2014 09:14
ASOS: N+1 Singer reduces target price from 5300p to 4100p, while staying with its hold recommendation. Cairn Energy: JP Morgan cuts target price from 315p to 279p and maintains an overweight rating. Cobham: Canaccord Genuity increases target price from 285p to 320p and reiterates a hold recommenda
Read moreLondon open: UK stocks fall from two-week high as miners slip
30th May 2014 08:20
- Mining stocks provide a drag on iron ore price decline - Fenner plummets after profit warning - Economic data comes in mixed techMARK 2,810.65 +0.04% FTSE 100 6,858.36 -0.19% FTSE 250 15,975.00 +0.13% UK stocks slipped on Friday morning, pulling back from a two-week high after three straight day
Read moreLondon pre-open: Flat start ahead of consumer confidence, German retail data
30th May 2014 07:28
A flat start is expected for London-listed stocks this morning ahead of today's UK consumer confidence report and German retail data. City sources predict the FTSE 100 will open almost unchanged from yesterday's close of 6,871.29. According to forecasts, the GfK's consumer sentiment index is exp
Read moreFenner issues profit warning as US coal industry weakens - UPDATE
30th May 2014 07:05
Polymer products maker Fenner has warned that underlying group profit before tax for the current fiscal year could be reduced by as much as 10-15% below the current consensus market expectation of £77.6m. This was partly due to what are expected to be "significantly weaker" than previously anticip
Read moreWednesday broker round-up UPDATE
23rd Apr 2014 09:04
AB Foods: Numis upgrades from sell to reduce with a target price of 2240p. AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy. Fenner: Investec cuts target price from 375p to 360p and reiterates its sell recommendation. Genus: N+1 Singer upgrades to hold with a target p
Read moreWeak demand eats into Fenner profit
23rd Apr 2014 08:12
- Profit tumbles on weak demand for conveyor belts - Eyes progress in newer markets while demand from Russia falls - Full-year outcome expected to be unchanged Reinforced polymer technology firm Fenner said first half pre-tax profit slumped by almost a third amid dwindling demand for its industri
Read moreThursday broker round-up UPDATE
20th Mar 2014 09:19
Antofagasta: Deutsche Bank cuts target price from 770p to 735p and downgrades to sell. Investec cuts target price from 753p to 726p keeping its sell recommendation. Ashmore Group: HSBC Holdings lowers target price from 410p to 400p retaining its overweight rating. Avacta Group: Numis shifts target
Read moreWednesday broker round-up UPDATE
12th Mar 2014 09:03
Ashtead Group: Citi raises target price from 850p to 1075p keeping a buy recommendation. Barratt Developments: Goldman Sachs reduces target price from 527p to 502p and downgrades to neutral. British Land: Jefferies downgrades to hold with a target price of 707p. Brooks Macdonald Group: Canaccord
Read moreWednesday tips round-up: Fenner, Inchcape
12th Mar 2014 07:21
Fenner is seeing delays in some projects but at least for now some of its major markets are stabilising, to a certain extent. Its engineering products division will be affected by slippage on one large contract in the North Sea, while work on some off-shore wind farms in Germany has been delayed. H
Read moreFTSE 250 movers: Inchcape rises on strong annual results
11th Mar 2014 15:37
Inchcape delivered record annual results as the car dealership enjoyed buoyant demand for luxury vehicles. The company reported a pre-exceptional pre-tax profit of £274.6m for the year through December 2013, up 11.2% on the prior year, as sales jumped 7.7% to £6.5bn. Adjusted earnings per share gr
Read moreFenner falls on sales deferrals, FX headwinds - UPDATE
11th Mar 2014 13:58
Fenner's share price fell sharply on Tuesday after the company failed to impress with an update on second-quarter trading, reiterating that results for the first half would be lower than the previous year. Results for the six months to February 28th, due out on April 23rd, will be below those last
Read moreBroker tips: IAG, African Barrick Gold, Foxtons, Fenner
11th Mar 2014 12:26
Jefferies has hiked its target price for airline group IAG and retained its 'buy' rating, saying that the company 'continues to make encouraging, simultaneous progress' at British Airways, Iberia and Vueling. The target price for the stock has been raised from 410p to 510p, which is based on IAG tr
Read moreFenner's valuation 'still too rich', 'sell' says Investec
11th Mar 2014 10:56
Investec has lowered its target price for Fenner from 380p to 375p and maintained a 'sell' recommendation, saying that the company took a 'cautious' tone in its second-quarter update. Fenner, which makes industrial belting and other polymeric materials, reiterated that first-half results will be be
Read moreTuesday broker round-up UPDATE
11th Mar 2014 09:03
Aviva: RBC Capital takes target price from 400p to 550p upgrading to neutral. Nomura increases target price from 489p to 625p and reiterates a buy recommendation. Balfour Beatty: Citi raises target price from 220p to 310p maintaining a neutral rating. Goldman Sachs reduces target price from 335p to
Read more