Broker tips: Miners, BT, Greggs
29th Apr 2013 11:17
Nomura has kept its cautious view on the European mining sector but has highlighted BHP Billiton and Rio Tinto as its top picks and upgraded its rating for ENRC and Anglo American from 'reduce' to 'neutral'. Nomura reckons that BHP Billiton, rated 'buy' at a price target of 2,400p, has a high-quali
Read moreBroker snap: Panmure cuts forecasts for Greggs after profit warning
29th Apr 2013 09:52
Panmure Gordon has cut its estimates for High Street bakery chain Greggs following a profit warning on Monday, but has maintained its 'buy' rating for the stock. Greggs said that total sales in the 17 weeks to April 27th were up 3.0%, but like-for-like sales were down by 4.4% due to poor weather in
Read moreLondon open: Stocks rise as Italy forms coalition government
29th Apr 2013 08:20
UK stock markets opened with decent gains on Monday morning after the weekend saw Italy form a new government, removing some of the political uncertainty that has dampened sentiment over the last few months. The formation brings together Prime Minister-designate Enrico Letta's Democratic Party and
Read moreMonday broker round-up UPDATE
29th Apr 2013 08:17
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu
Read moreGreggs sees full year slightly below market view
29th Apr 2013 07:29
UK baker Greggs said based on current like-for-like (LFL) trading at its own shops it believes that profits for the year are likely to be slightly below the lower end of the range of market expectations. Total sales for the 17 weeks to April 27th 2013 grew by 3.0%, driven by its new shop opening pr
Read moreTuesday broker round-up UPDATE
26th Mar 2013 07:41
Abbey Protection: Numis downgrades to hold with its target price at 120p. Aberdeen Asset Management: Bank of America raises target price from 425p to 455p keeping a neutral rating. JP Morgan moves target price from 498p to 532p, while its overweight rating remains unchanged. Exane BNP ups target pr
Read moreLondon close: Markets subdued in Budget aftermath
20th Mar 2013 16:16
Markets on the whole gave a muted reaction to George Osborne's Budget Statement today, in which he warned that Britain would grow less and borrow more than originally estimated, while traders continued to digest developments elsewhere, including the Cypriot bailout and a meeting at the US Federal Re
Read moreFTSE 250 movers: Construction and house building groups rise on Budget
20th Mar 2013 16:05
Shares in Barratt Developments, Taylor Wimpey, Persimmon, Bellway, Redrow and Bovis Homes Group all charged higher on Wednesday afternoon after the Chancellor, George Osborne, said in his 2013 Budget speech that the government was launching a programme to help people get on, or move up, the property
Read moreBroker tips: Greggs, ASOS, Ryanair
20th Mar 2013 12:53
Canaccord Genuity has said that Greggs' 2012 results were 'unsurprisingly disappointing' but has retained its 'hold' rating and 485p target price for the stock. "The strategy for 2013 has been reshaped with investment behind the core estate rising and lower rates of new openings. We expect this to
Read moreBroker snap: Greggs fairly valued despite 2012 disappointment, says Canaccord
20th Mar 2013 12:10
Canaccord Genuity has said that Greggs' 2012 results were 'unsurprisingly disappointing' but has retained its 'hold' rating and 485p target price for the stock. Analyst Wayne Brown said that like-for-like (LFL) sales were poor, down 2.7% on the year, while margins and profits were lower than foreca
Read moreLondon midday: FTSE 100 slips into the red ahead of Budget
20th Mar 2013 11:50
The FTSE 100 had erased gains by lunchtime after a strong start, as investors took caution ahead of the pivotal Budget Statement this afternoon by UK Chancellor George Osborne. Sentiment was still fragile after the Cypriot parliament last night voted to reject a €10bn bailout deal that included a t
Read moreLondon open: Stock rise ahead of UK Budget after failed vote in Cyprus
20th Mar 2013 08:20
The decision by Cyprus to reject a 10bn-euro bailout deal that included a tax on bank accounts didn't take markets by surprise on Wednesday morning, as stocks started the day with moderate gains. Last night's vote - which saw a unanimous rejection of the proposal - was widely expected to fail given
Read moreLondon pre-open: FTSE set to rise as investors await Budget and jobless data
20th Mar 2013 07:24
City sources predict the FTSE 100 will open up 14 points from yesterday's close of 6,441, ahead of both the Budget speech and UK jobless data. Chancellor George Osborne has come under pressure to inject life into the UK economy as he prepares to unveil the 2013 Budget at 12:30 Wednesday. Osborne
Read moreMixed year for Greggs
20th Mar 2013 07:05
High Street pastry and baked goods retailer Greggs served up a mixed bag of results, with an increase in full year sales and a dividend hike while profit and like-for-like sale slipped. The retailer said 2012 trading was very challenging as it battled against a mixture of continued consumer spendin
Read moreTuesday broker round-up UPDATE
19th Mar 2013 07:21
Admiral Group: Canaccord Genuity raises target price from 1050p to 1215p, but reiterates its sell recommendation. BAE Systems: Investec moves target price from 325p to 375p retaining a hold recommendation. Balfour Beatty: Numis lowers target price from 330p to 300p and downgrades to add. BHP Bill
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