Genus backs out of pig partnership in China
27th May 2014 10:52
Genus has pulled out of a joint venture (JV) with Chinese pork processor Yunnan Shennong Agricultural Group (Shennong) due to tough market conditions. The partnership, first announced in February 2013, would have seen the FTSE 250-listed animal genetics company and its Chinese partner build and ope
Read moreGenus warns on lower profits as pigs weigh on China
15th May 2014 09:14
Challenging conditions in the pig market continued to weigh on livestock breeding group Genus, with profits 'slightly lower' in the first ten months of the year in constant currency and further hit by currency affects. The FTSE 250 company said it expected the year to end-June to be "broadly" in-li
Read moreWednesday broker round-up UPDATE
23rd Apr 2014 09:04
AB Foods: Numis upgrades from sell to reduce with a target price of 2240p. AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy. Fenner: Investec cuts target price from 375p to 360p and reiterates its sell recommendation. Genus: N+1 Singer upgrades to hold with a target p
Read moreTuesday broker round-up UPDATE
1st Apr 2014 09:39
African Barrick Gold: Deutsche Bank raises target price from 240p to 310p and keeps a hold recommendation. African Minerals: Deutsche Bank lowers target price from 399p to 382p, while its buy recommendation is kept. Allergy Therapeutics: Panmure Gordon ups target price from 16p to 25p and retains
Read moreThursday broker round-up UPDATE
27th Feb 2014 09:55
Balfour Beatty: Berenberg moves target price from 340p to 350p and stays with a buy recommendation. Bodycote: FinnCap places both its target price (prev.: 620p) and its hold recommendation under review. Investec raises target price from 770p to 810p and keeps a buy recommendation. Numis upgrades fr
Read moreWednesday broker round-up UPDATE
26th Feb 2014 08:54
Anglo Pacific: FinnCap cuts target price from 279p to 216p, downgrades to hold. Ashmore Group: UBS reduces target price from 405p to 355p, while leaving its buy recommendation unchanged. Jefferies cuts target price from 475p to 375p, while its buy recommendation is kept. Barclays lowers target pric
Read moreGenus cautions on uncertainty in second half
25th Feb 2014 10:00
Shares in animal breeder Genus declined on Tuesday as the group admitted it has faced near-term headwinds from the strengthening of sterling and a virus affecting the North American porcine industry. Issuing its interim results for the six months ended December 31st, Genus said the first half refl
Read moreLondon pre-open: Small gains expected early on
10th Feb 2014 07:24
UK stocks are expected to open with small gains on Monday, tracking a decent performance from Asian markets overnight and a strong finish on Wall Street on Friday. City sources predict the FTSE 100 will open 23 points higher than yesterday's close of 6,571.68. "These minor gains have led many to
Read moreGenus completes acquisition of joint venture
10th Feb 2014 07:08
Animal genetics company Genus has completed the acquisition of Brazilian joint venture Genetiporc do Brasil LTDA for Real 19m. The acquisition was funded by Genus and its joint venture partner, Agroceres, subscribing for additional equity pro rata to their existing equity ownership. For the year
Read moreWednesday broker round-up UPDATE
4th Dec 2013 09:21
Afren: FinnCap lowers target price from 170p to 165p and downgrades to hold. Amlin: Espirito Santo upgrades to buy with a target price of 509p. Betfair: Citi raises target price from 1150p to 1225p maintaining a buy recommendation. Brewin Dolphin: Canaccord Genuity increases target price from 285
Read moreFTSE 250 movers: Ultra Electronics dives on revenue warning
15th Nov 2013 15:18
Ultra Electronics shares plunged into the bottom spot after the defence group warned that revenue for 2013 would be slightly below the previous year's, hit by 'a number of headwinds', in particular the US government-funded market. In the US government-funded market, the unexpected shut-down in Octob
Read moreGenus Q1 profits flat, but growth expected over the year
15th Nov 2013 07:36
- Mid to high single-digit profit growth guidance maintained - First-quarter profits flat Animal genetics firm Genus reiterated its guidance for mid to high single-digit profit growth this year despite a flat performance in its first quarter. The company said that it has seen an improvement in mar
Read moreGenus completes acquisition of US porcine genetics firm
18th Oct 2013 07:59
Genus, the FTSE 250 global animal genetics company, has completed the acquisition of Génétiporc, the porcine genetics business of US group Aliments Breton Foods. The company said that it continued to hold discussions regarding the acquisition of Génétiporc's Brazilian joint venture following the m
Read moreTuesday broker round-up UPDATE
1st Oct 2013 09:35
African Minerals: Credit Suisse reduces target price from 350p to 280p and downgrades to neutral. British Land: Societe Generale cuts target price from 670p to 620p and downgrades to hold. Derwent London: Societe Generale reduces target price from 2610p to 2470p downgrading to hold. Faroe Petrole
Read moreLondon open: Stocks slip despite Merkel victory in German elections
23rd Sep 2013 08:04
Stocks slipped into the red on Monday morning as investors digested this weekend's elections in Germany along with the uncertain outlook for monetary policy in the US. German Chancellor Angela Merkel's CDU/CSU party won 41.5% of the vote in the federal elections this weekend after winning 311 seats
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