London midday: Stocks edge higher as BoE holds rates
4th Oct 2012 11:47
- Middle-East tensions dampen sentiment - BoE holds rates; ECB decision eyed - Investors await US jobless claims After swinging into negative territory briefly, the FTSE 100 was back above water by Thursday lunchtime ahead of interest rate decisions in the UK and Europe. Meanwhile, investors were s
Read moreBroker snap: UBS upgrades FirstGroup but still sees challenges
4th Oct 2012 10:29
UBS has upgraded its rating for FirstGroup from 'sell' to 'neutral' following Wednesday's steep sell-off on the back of the failure to secure the West Coast franchise. The Department for Transport (DfT) announced that due to "significant technical flaws" in the bidding process, the competition for
Read moreThursday broker round-up - UPDATE
4th Oct 2012 07:57
BHP Billiton: Morgan Stanley cuts target from 2,180p to 2,100p, overweight rating kept. BTG: Deutsche Bank raises target from 384p to 394p, buy rating kept. Capita: Panmure Gordon keeps hold rating and 620p target. Carillion: Seymour Pierce keeps buy rating and 395p target; Panmure Gordon maintai
Read moreLondon close: US data provides a late boost
3rd Oct 2012 16:34
- US services and labour figures lift stocks - Mixed economic data in China, UK and Europe - FTSE 100 finishes up 0.3 per cent The UK benchmark finished with mild gains on Wednesday afternoon after some better-than-expected data from the US managed to brighten the mood, which was dampened earlier b
Read moreFTSE 250 movers: FirstGroup plunges after DfT decision
3rd Oct 2012 15:59
Shares in transport firm FirstGroup took a hammering today after the Department for Transport (DfT) dropped the competition to award it the West Coast franchise. Following a legal challenge from current operator Virgin Rail, the DfT said it had found "significant technical flaws in the way the franc
Read moreGovernment admits 'terrible mistake' over West Coast franchise shambles
3rd Oct 2012 14:23
Transport Secretary Patrick McLoughlin has said that the government has made a 'terrible mistake' in granting the West Coast rail contract to FirstGroup back in August, saying that the taxpayer bill for the mishap will be in the region of 40m pounds. McLoughlin said on Wednesday that the Department
Read moreLondon midday: Stocks flat as economic data disappoints
3rd Oct 2012 11:21
- Gloomy Chinese, UK and Eurozone data - Rajoy denies bailout - FirstGroup sinks after West Coast disappointment. The FTSE 100 was trading broadly flat by midday on Wednesday as investors remained cautious after a raft of disappointing economic data. China's non-manufacturing purchasing managers'
Read moreBroker tips: Tesco, Schroders, FirstGroup
3rd Oct 2012 11:01
Seymour Pierce has retained its 'reduce' rating for supermarket giant Tesco after the group's first-half profits came in well below expectations. Tesco this morning reported a 15% drop in first-half profit before tax (pre exceptionals and property profits) to £1,497m, under Seymour Pierce's £1,603m
Read moreBroker snap: FirstGroup's peers also affected by West Coast cancellation
3rd Oct 2012 09:35
Jefferies has reiterated its 'hold' recommendation for transport firm FirstGroup after the government's decision to cancel the West Coast franchise competition, adding that it will have an adverse impact on sector peers Go-Ahead and National Express. The Department for Transport (DfT) announced on
Read moreWednesday broker round-up - UPDATE
3rd Oct 2012 09:06
African Barrick Gold: Westhouse Secuirites raises target from 464p to 495p. AG Barr: Panmure Gordon keeps hold rating and 440p target. AstraZeneca: Panmure Gordon downgrades from buy to hold, target cut from 3,100p to 3,000p. Barclays: UBS downgrades from buy to neutral, 235p target unchanged. B
Read moreLondon open: Sentiment dampened by Spain, Chinese data
3rd Oct 2012 08:27
- Rajoy denies Spanish bailout request - Chinese data disappoints - Tesco and Sainsbury's fall after updates - FirstGroup sinks after West Coast failure Stocks in the UK slipped in early trading on Wednesday as concerns about a Spanish bailout and weak economic data from China spooked investors. S
Read moreFirstGroup hammered as government ditches West Coast rail deal - UPDATE
3rd Oct 2012 07:18
After announcing on Tuesday that it was confident in securing the West Coast rail franchise before the end of the year, FirstGroup has discovered that the Department for Transport (DfT) has dropped the contract competition. Shares were down 15.3% at 206.7p in the opening hour on Wednesday. In a st
Read moreFirstGroup confident about securing West Coast franchise - UPDATE
2nd Oct 2012 14:21
Transport company FirstGroup has said that it still expects to take over the West Coast rail franchise from Richard Branson's Virgin Rail before the end of the year in spite of the legal challenge launched by the latter to the Department for Transport (DfT). Virgin Rail, the joint venture between S
Read moreLondon midday: Stocks swing into the blue
2nd Oct 2012 11:38
- Stocks shrug off Spanish bailout concerns - RBA cuts rates - Babcock and Wolseley rise strongly after updates After a poor start on Tuesday, the FTSE 100 had swung into positive territory by lunchtime with gains from Babcock, Wolseley and International Consolidated Airlines (otherwise known as IA
Read moreLondon open: Spanish bailout rumours weigh on stocks
2nd Oct 2012 08:40
Following a strong surge the day before, London's FTSE 100 slipped in early trading on Tuesday with concerns about a Spanish bailout weighing on sentiment early on. According to reports, Spain has finally decided to move ahead with its bailout request to the Eurozone, but Germany now wants Madrid t
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