RBC Upgrades GKN to 'sector perform', sees shares near fair value
17th Jul 2015 09:16
(ShareCast News) - RBC Capital Markets upgraded GKN to 'sector perform' from 'underperform' but trimmed its target price to 320p from 330p. It noted that GKN shares have underperformed sector peers year-to-date and are now trading at a relatively untesting multiple, even on the bank's consensus fore
Read moreSmiths Group appoints GKN automotive boss as new CEO
7th Jul 2015 07:18
Technology firm Smiths Group has appointed the head of GKN's automotive division as its new chief executive. Andrew Reynolds Smith, who currently leads the driveline systems and powder metal components unit of GKN, will join Smiths on 25 September. The announcement followed Philip Bowman's decision
Read moreFTSE 100 movers: Standard Chartered hit by dividend cut speculation, Easyjet downgraded
15th Jun 2015 13:26
London stocks plunged towards three month lows on Monday, as investors nervously anticipated further details of a fed rate hike on Wednesday and Greece's negotiations with its creditors collapsed abruptly. At 1500 BST, the FTSE 250 was trading 0.9% lower at 6.724. Shares in Standard Chartered dropp
Read moreGKN wins Boeing contract and buys small US parts maker
11th Jun 2015 11:17
Aerospace engineer GKN said on Thursday that it has won a long-term contract to supply aircraft parts to Boeing and in conjunction with the deal, it will buy US parts-maker Sheets Manufacturing. GKN has been awarded a contract to supply inlet skins for the Boeing 737 MAX and 777X and to assemble the
Read moreBroker tips: Morrisons, GKN, Randgold
7th May 2015 11:24
Shares in Morrisons plunged on Thursday after the grocer reported a worsening of like-for-like sales trends in the first quarter, though analysts at Shore Capital remained upbeat with a 'buy' rating. The broker admitted that the company has a long way to go in its turnaround efforts, but the new chi
Read moreCredit Suisse cuts GKN estimates but reiterates 'outperform'
7th May 2015 11:16
Credit Suisse has lowered its estimates for GKN but said that the positives still outweigh the negatives at the engineering group, keeping an 'outperform' rating. "Following the Q1 trading update we make small forecast changes to reflect current FX rates, a slower than forecast start to the year at
Read moreLondon close: Stocks creep higher but risk appetite limited ahead of elections
6th May 2015 16:32
UK stocks finished a choppy session marginally in positive territory on Wednesday as investor risk appetite was curbed by pre-election uncertainty and cautious comments from Federal Reserve chair Janet Yellen. The FTSE 100 closed up 6.16 points (+0.09%) at 6,933.74, rebounding slightly after settlin
Read moreFTSE 100 movers: Sainsbury plummets on first loss in decade, miners lower
6th May 2015 13:24
Sainsbury's led the fallers after swinging to its first annual loss in a decade, though results still came in ahead of analysts' expectations. The grocer reported a pre-tax of £72m for the year ended March, compared with a £898m profit previously, prompting it to slash it full-year dividend by 23.7%
Read moreLondon midday: Stocks pare gains as election uncertainty kicks in
6th May 2015 11:30
UK stocks bounced off a one-month low on Wednesday though gains were quickly trimmed as mining stocks dropped into the red and Sainsbury's extended losses after an underwhelming annual report. The FTSE 100 was up just 0.11% at 6,935.50 by midday, having pulled back after reaching a high of 6,974.82
Read moreLondon open: FTSE bounces as corporate earnings impress
6th May 2015 08:27
UK stocks bounced on Wednesday morning as investors picked up bargains after the FTSE 100 dropped to a one-month low the previous session. Blue chips Imperial Tobacco, Legal & General and GKN were leading the rise after impressing investors with results, while Vodafone was boosted by a broker upgrad
Read moreGKN trading year-to-date buoyed by strong US dollar
6th May 2015 07:47
In the period running up to 5 May GKN saw trading conditions which were in-line with the guidance provided by the firm in February. However, while trading in the automotive business "outperformed" the principal market of its Land System's unit remained "tough". Trading in the Aerospace arm was in-l
Read moreLondon close: Stocks drop 0.9% in volatile session amid Greek worries
17th Apr 2015 16:38
UK stocks dropped sharply on Friday with the FTSE 100 finishing below the 7,000 level for the first time in seven sessions, after a terminal blackout and changes in Chinese trading regulations. After a positive start, the Footsie ended 65.82 points lower (-0.93%) at 6,994.63, its lowest finish since
Read moreFTSE 100 movers: Rolls Royce among handful of risers as 95 stocks trade in the red
17th Apr 2015 13:32
Rolls Royce was one of a handful of stocks remaining in the green, buoyed by the announcement of its largest ever order win, which cemented its position as the favoured supplier of power plants for Airbus's signature A380 aircraft. The news marks the aircraft engine manufacturer's gain of over half
Read moreLondon midday: Bloomberg outage, Chinese regulations send stocks into the red
17th Apr 2015 12:02
After a solid start UK stocks sank into the red by Friday lunchtime, moving further away from recent records amid a blackout on Bloomberg computer terminals and new regulations in China on short-selling. Bloomberg's trading and information units are heavily relied upon by roughly 320,000 people arou
Read moreLondon open: Stocks rise modestly amid Greek talks, UK economic data
17th Apr 2015 08:35
Stocks in London advanced on Friday morning on a quiet day for corporate newsflow, with investors awaiting key employment data from the UK while digesting Greek debt talks. "The FTSE opened the day on the positive side of flat, after yesterday afternoon's [...] declines pulled the index away from it
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