Numis upgrades GKN to 'buy' after "solid first half"
29th Jul 2014 09:35
Numis Securities has lifted its recommendation for aerospace and automotive engineer GKN from 'add' to 'buy', after the company "plough[ed] through the currency headwinds" in its first half. The broker said that GKN achieved a "solid first half in line with expectations" with adjusted pre-tax profi
Read moreLondon open: GKN leads UK stocks higher, but upside limited
29th Jul 2014 09:09
- GKN, Next and Mondi impress with updates/results - St James's Place drops despite strong first half - West-Russia tensions rise as sanctions eyed - US data, Gaza in focus techMARK 2,780.14 +0.15% FTSE 100 6,806.28 +0.27% FTSE 250 15,662.90 +0.30% Strong gains from GKN, Next and Mondi helped UK m
Read moreGKN's Driveline does well but currency volatility hits sales
29th Jul 2014 07:57
A good performance by GKN's car driveshaft business fuelled higher half-year profits at the automotive and aerospace engineer, but the strong pound knocked £247m off sales. The group increased its interim dividend by 8% to 2.8p per share. GKN said its Driveline operation boosted sales by 11% as the
Read moreLondon pre-open: Stocks to rise after upbeat session in Asia
29th Jul 2014 07:41
Lifted by an upbeat session in Asia, London's blue chips are expected to move higher early on. City sources predict the FTSE 100 will open around 14 points higher than yesterday's close of 6,788.07. Data released from Japan indicated that while household and consumer spending had declined, it was
Read moreTuesday preview: Next, GKN and BP to report earnings
28th Jul 2014 16:59
Next may on Tuesday report second quarter sales growth towards the upper end of guidance, according to estimates by Numis. The UK retailer reported a 10.8% increase in Brand sales in the first 13 weeks of the year, with retail up 8.8% and Directory up 13.7%. "This was comfortably ahead of the +4%
Read moreSunday newspaper round-up: Home Retail, strong pound, Lloyds Banking Group
27th Jul 2014 18:00
Home Retail Group is considering a sale of its £1.5bn Homebase DIY chain, the Mail on Sunday said. Home Retail wants to concentrate on its core Argos business under new group Chief Executive John Walden, who turned around Argos in the previous two years. Stronger sales and profitability at Homebase
Read moreWednesday broker round-up UPDATE
23rd Jul 2014 09:01
Abcam: Canaccord Genuity ups target price from 375p to 400p and upgrades from hold to buy. ARM Holdings: Deutsche Bank cuts target price from 975p to 950p and maintains a hold recommendation. Credit Suisse lowers target price from 1125p to 1100p and leaves its outperform rating unaltered. Beazley:
Read moreFARNBOROUGH ROUND-UP - Record orders lift air show spirits
21st Jul 2014 07:00
Aerospace and defence companies notched up a record $201bn of business at last week's Farnborough Air Show, striking a positive note for the industry despite recent turbulence. Analysts had expected a relatively quiet show, saying the focus would be on Airbus and Boeing to prove they could deliver
Read moreFTSE 100 movers: Barratt Developments, GKN, Royal Mail
18th Jul 2014 14:35
Housebuilder Barratt Developments was leading the fallers after Liberum downgraded the stock to 'hold' and slashed its target price from 468p to 387p. GKN, which supplies British multinational automotive and aerospace components, declined as airliners were hurt by news of the Malaysia Airlines cras
Read moreFriday broker round-up UPDATE
18th Jul 2014 07:55
Barclays: Credit Suisse cuts target price from 275p to 235p retaining a neutral rating. Barratt Developments: Liberum Capital reduces target price from 468p to 387p and downgrades to hold. Bellway: Liberum Capital reduces target price from 1900p to 1764p, while leaving its buy recommendation uncha
Read moreFARNBOROUGH - GKN wins "multi-million pound" deal from Bombardier
14th Jul 2014 14:06
Engineering group GKN has won a multi-million pound deal from Bombardier to make parts for the Canadian aircraft maker's new Global 7000 and 8000 business jets. Bombardier Aerospace has chosen GKN's aerospace arm to design, develop and supply the composite integrated rudder and elevator for the ult
Read moreBerenberg sees upbeat aerospace outlook, but Iraq unrest may weigh
17th Jun 2014 14:13
Defence firms are cashing in on more US budget certainty and civil aerospace prospects remain good, but Iraq unrest could throw the cat among the pigeons, broker Berenberg says. Civil aerospace and defence stock valuations have converged in the last year as defence headwinds have moderated and prof
Read moreTuesday broker round-up UPDATE
17th Jun 2014 09:45
Aquarius Platinum: UBS cuts target price from 41p to 24p and keeps a neutral rating. BAE Systems: Berenberg initiates with a target price of 455p and a hold recommendation. British Land: Deutsche Bank ups target price from 520p to 580p, but still recommends selling. Capital & Counties: Deutsche B
Read moreTuesday broker round-up UPDATE
12th Jun 2014 08:50
Afren: Oriel downgrades from buy to hold with a target price of 145p. Aggreko: RBC Capital downgrades to neutral with a target price of 1700p. Betfair Group: Morgan Stanley raises target price from 1150p to 1260p and keeps an overweight rating. BG Group: Nomura downgrades to neutral with a target
Read moreTuesday broker round-up UPDATE
10th Jun 2014 09:45
ASOS: Goldman Sachs reduces target price from 6250p to 5750p, while upgrading to strong buy. Avon Rubber: Investec lowers target price from 690p to 680p and downgrades from buy to add. BAE Systems: Investec downgrades from add to hold with a target price of 430p. BG Group: Exane downgrades to neu
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