Broker snap: FirstGroup results in line but outlook disappoints, says Jefferies
20th May 2013 09:58
Jefferies has kept its 'hold' rating and 190p target price for transport firm FirstGroup, saying that while the full-year results on Monday were broadly in line with forecasts, the outlook statement was a little disappointing. The company reported a headline profit before tax of £172.4m for the yea
Read moreLondon open: Markets open higher as surge continues
20th May 2013 08:40
London's benchmark index was trading at levels not seen in over a decade on Monday morning, boosted by record closing prices in the States on Friday on the back of an improved outlook for the global economy. The FTSE 100 surpassed its 2007 high of 6,732 in intraday trade this morning as it continue
Read moreMonday broker round-up UPDATE
20th May 2013 08:32
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating. Amlin: Morgan Stanley ups target price from 428p to 469p, while maintaining an overweight rating. Anite: Espirito Santo cuts target price from 180p to 165p retaining a buy recommendation. Ashtead Group: UBS takes
Read moreLondon pre-open: FTSE set to race past 2007 highs after strong finish in US
20th May 2013 07:25
City sources predict the FTSE 100 will open up 19 points from Friday's close of 6,723, which would see it jump past 2007 highs of 6,732 after the US Dow Jones and S&P 500 benchmarks reached fresh record closing prices at the end of last week. Driving Friday's gains was better-than-expected data, in
Read moreFirstGroup cancels dividend as Chairman falls on sword
20th May 2013 07:11
Train and bus operator FirstGroup cancelled its final dividend as it restructured its balance sheet and refinanced after a year in which operating profits halved. In results announced two days earlier than scheduled, Martin Gilbert announced his resignation as Chairman, 27 years after he first ove
Read moreWednesday broker round-up UPDATE
24th Apr 2013 08:25
Archipelago Resources: Canaccord Genuity lowers target price from 75p to 68p keeping a buy recommendation. ARM Holdings: Morgan Stanley ups target price from 911p to 925p maintaining an equal-weight rating. Deutsche Bank takes target price from 445p to 460p, but still recommends selling. Citigroup
Read moreBroker tips: Centamin, FirstGroup, BP...
9th Apr 2013 11:00
Canaccord Genuity has kept its 'sell' rating and 38p target price for Egyptian gold miner Centamin despite the strong first-quarter production figures announced on Tuesday morning, saying that legal issues still remain. The broker said: "Although we would expect shares to be stronger today we think
Read moreBroker snap: FirstGroup turnaround remains slow, says Investec
9th Apr 2013 10:25
Investec has retained its 'hold' rating and 200p target price for transport firm FirstGroup after the firm's pre-closing trading update which showed that trading was broadly in line during the fourth quarter. The group also announced its planned sale of eight UK Bus depots in London for a combined
Read moreFirstGroup trading in line with expectations
9th Apr 2013 07:21
Transport group FirstGroup said it was trading in line with management's expectations following a number of contract wins. In a trading statement ahead of its results for the year to March 31st 2013, the company reported a strong performance across its bus and rail divisions in the UK, US and Nort
Read moreFriday broker round-up UPDATE
5th Apr 2013 08:33
Aberdeen Asset Management: Jefferies moves target price from 400p to 420p keeping a hold recommendation. Aggreko: Investec reduces target price from 2065p to 1900p downgrading from buy to add. APR Energy: Investec takes target price from 650p to 900p retaining a hold recommendation. ARM Holdings:
Read moreLondon close: Markets surge as M&A activity lifts sentiment
2nd Apr 2013 16:40
UK stocks surged on Tuesday, starting the week strongly after the four-day Easter weekend, as increased M&A activity and a strong reading of US factory orders lifted sentiment. Telecoms giant Vodafone was among the risers on London's benchmark index on the back of speculation that it could be the t
Read moreFTSE 250 movers: FirstGroup lifted by Bank of America note
2nd Apr 2013 15:57
Travel company FirstGroup rocketed higher after Bank of America Merrill Lynch issued a bullish note on the stock. Inter-dealer broker ICAP was on the rebound after a recent profit warning. Giving it a boost was the news that Nasdaq is set to purchase eSpeed, which Shore Capital pointed out has a si
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
Read moreFirstGroup wins rail extensions in DfT franchise shake-up
26th Mar 2013 08:01
FirstGroup announced that its three of its five current rail franchises across the UK will run beyond their current planned end dates. First Capital Connect, First Great Western and First TransPennine Express will all continue through their respective end dates, FirstGroup said in a statement on Tu
Read moreCost of West Coast Rail blunder could be 'very much larger' than 50m
26th Feb 2013 14:17
The infamous botched West Coast rail contract is set to cost at least 50m pounds, and could be ever larger, MPs revealed Tuesday. According to a report by the Commons Public Accounts committee, the collapse of the deal was the result of a series of mistakes by civil servants and a 'lack of leaders
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