Week Ahead: Barclays kicks off banking results season
20th Apr 2012 10:57
Barclays kicks off the banking results season on Thursday, while the pharmaceuticals giants are also putting the finishing touches to their trading statements, with Glaxo, Astra and Shire all set to give first quarter updates. Anglo-Dutch Footsie heavyweights Royal Dutch Shell and Unilever will be
Read moreWednesday broker round-up
14th Mar 2012 10:02
Antofagasta: Fox-Davies upgrades from sell to hold, target lifted from 1,121p to 1,197p. AZ Electronic Materials: Goldman Sachs upgrades from buy to conviction buy, target raised from 380p to 440p. Close Brothers: UBS raises target from 690p to 750p, neutral rating kept. Computacenter: UBS raises
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreFTSE 250 movers: Afren tops the risers after discovery
17th Jan 2012 15:38
A big mover on the FTSE 250 today was oil and gas group Afren which was trading a whopping 13% higher in the afternoon after announced a new oil discovery offshore south-east Nigeria. The firm said that it encountered 549ft true vertical thickness of net oil pay and 41ft of net gas pay in "excelle
Read moreTuesday broker round-up - UPDATE
17th Jan 2012 09:15
IMI: Exane BNP upgrades to outperform from neutral. Smiths Group: Exane BNP upgrades to outperform from neutral. RBS: Shore Capital upgrades to hold from sell. Oriel reiterates buy. RSA Insurance: UBS labels short-term buy. Resolution: UBS upgrades to buy from neutral. Burberry: Nomura main
Read moreLondon open: Chinese GDP sparks rise, Footsie above 5,700
17th Jan 2012 08:26
The Footsie surged above the 5,700 level in early trading on Tuesday after the Chinese economy expanded at a faster-than-expected rate in the fourth quarter. It seems that investors have shrugged off last night's downgrade of the Eurozone's bailout fund, as just four stocks slipped into the red. Pr
Read moreStrong Christmas for Greene King
17th Jan 2012 08:06
Pubs group Greene King saw retail and food like-for-like (LFL) sales rise 8.2% and 11.1%, respectively, in the last seven weeks, helped by an exceptionally strong Christmas week's trading. "This was another strong performance driven by the strength of our business and our continued commitment to pr
Read moreTuesday preview: Time for a Burberry check
16th Jan 2012 15:26
Fashion chain Burberry has been one of the success stories of the British retail scene in recent years, thanks in no small part to its international cachet. On Tuesday, it releases an interim management statement covering the third quarter of its fiscal year, which will include the Christmas trading
Read moreBroker tips: Admiral, Homeserve, Greene King
2nd Dec 2011 11:32
Investec has maintained its sell rating on car insurer Admiral, saying the stock is "going like a freight train...downhill". "It is not clear whether the claims shocks described in the 9M IMS will be a one-off. This note illustrates what could happen with a significant reserve increase next year. I
Read moreBroker snap: Charles Stanley downgrades Greene King
2nd Dec 2011 10:43
Charles Stanley downgraded its rating for Greene King yesterday despite the firm's interim results matching market expectations. The broker notes that a 5.6% year-on-year rise in normalised pre-tax profit (for the 24 weeks to 16 October) to £77.2m was in line with forecasts with all three divisions
Read moreFriday broker round-up - UPDATE
2nd Dec 2011 09:42
Rolls Royce: UBS downgrades to sell from neutral, cuts target to 600p from 610p. Admiral: RBC initiates at underperform with a price target of 890p. Standard Chartered: Nomura reiterates buy recommendation and 1,800p target. Admiral: Investec maintains sell rating, cuts target to 570p from 843
Read moreFTSE 250 Movers: Thomas Cook leads the way down... again
1st Dec 2011 15:36
Thomas Cook continued to worry investors although there didn't appear to be a new reason for it hitting the bottom spot. Earlier in the week Credit Suisse describe the terms of a new financing arrangement which Thomas Cook has put in place with its creditor banks as "positive", but cautioned that, "
Read moreLondon open: Equities becalmed
1st Dec 2011 09:19
Footsie has been bobbing above and below the 5,500 level this morning as the market takes a pause for breath after yesterday's mad rush higher. REPAIR TO THE PUB DIY retailer Kingfisher is a top performer after a well-received trading update. The B&Q owner saw year-on-year like-for-like (LFL) sale
Read moreRecord results for Greene King but margin dips
1st Dec 2011 08:00
Old Speckled Hen brewer and pub chain owner Greene King unveiled another set of record results, with food sales once again driving growth. Adjusted profit before tax in the 24 weeks to mid-October rose 5.6% to £77.2m from £73.1m at the interim stage last year. Exceptional charges have once again p
Read moreLondon pre-open: Sedate progress expected
1st Dec 2011 07:44
After yesterday's wild rises, progress is set to be more sedate this morning, with traders unsure whether profit-takers will be out in force. City sources predict the FTSE 100 will open around 28 points higher than yesterday's close of 5,505. DIY retailer Kingfisher saw year-on-year like-for-like
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