London afternoon: Share prices froth over
11th Nov 2009 14:12
Share prices are coming off the top, though Footsie remains comfortably in positive territory thanks to strong demand for miners and insurers. Miners are wanted as metal prices pick up following news that Chinese industrial output rose to a 19-month high in October. BHP Billiton, Kazakhmys, Rio Ti
Read moreGlaxo wins US approval to supply swine flu vaccines
11th Nov 2009 13:17
Drug giant GlaxoSmithKline has received approval from the US Food and Drug Administration to begin deliveries of more than 7m doses of its swine flu vaccine. It will begin exporting the FluLaval vaccine, which it manufactures in Canada, to the US next month. The US is ordering about 250m doses of
Read moreBroker tips: RBS, Glaxo, Tesco
2nd Nov 2009 12:56
Royal Bank Of Scotland (RBS) shares were out of favour on Monday morning after the part-nationalised bank issued a statement about the status of its negotiations about participation in the government asset protection scheme (APS). Broker Charles Stanley said 'the big news in this statement is that
Read moreBroker snap: Glaxo upgrades expected
2nd Nov 2009 12:54
Panmure Gordon has reiterated its 'buy' recommendation on GlaxoSmithKline in the wake of the release of positive data for Lupus drug candidate Benlysta in a phase III clinical trial known as BLISS-76. Panmure Gordon believes the Glaxo 'investment thesis moves from a recovery stock to growth,' and,
Read moreGood result for GlaxoSmithKline Lupus treatment
2nd Nov 2009 07:35
GlaxoSmithKline has received a boost for Benlysta, its new treatment for systemic lupus erythematosus or Lupus, after the latest phase 3 trial showed a significant improvement in those patients given the drug. GlaxoSmithKline, and its partner Human Genome Sciences, said that Benlysta (belimumab) m
Read moreComment: Astra's stars will wane
29th Oct 2009 15:29
AstraZeneca impressed the market with better-than-expected third quarter sales and lifted its earnings estimates for the full year, but beyond that the Anglo-Swedish drugmaker could be set for a severe comedown. Sales over the quarter climbed by 5% from the same period a year ago to $8.2bn, lifting
Read moreBroker tips: Glaxo, Shell, CSR
29th Oct 2009 13:02
Panmure Gordon is upgrading its earnings forecast for GlaxoSmithkline for the second time in six months, even though it described the pharmaceuticals behemoth's third quarter results announced on Wednesday as 'unspectacular'. The broker has nudged up full-year 2009 earnings per share (EPS) estimate
Read moreBroker snap: Mixed views on Glaxo
29th Oct 2009 13:00
Panmure Gordon is upgrading its earnings forecast for GlaxoSmithkline for the second time in six months, even though it described the pharmaceuticals behemoth's third quarter results announced on Wednesday as 'unspectacular'. The broker has nudged up full-year 2009 earnings per share (EPS) estimate
Read moreThursday tips round-up: GlaxoSmithKline, Prudential, BG
29th Oct 2009 06:02
Andrew Witty, the chief executive of GlaxoSmithKline, said in July that he did not know whether the drugs giant expected to make a lot of money from swine flu. The company's third-quarter results and outlook have banished any doubt that it has. Yet looking beyond the pandemic, Glaxo is making prog
Read moreComment: Glaxo needs more than a shot in the arm
28th Oct 2009 18:26
With pharmaceutical stocks, investors should be more concerned with long-term health than quick fixes. GlaxoSmithKline's sales in the third quarter rose by 15% to £6.758bn from £5.882bn over the same period the previous year, due largely to a strong performance from emerging markets. The rise was j
Read moreLondon close: Triple-digit losses for FTSE 100
28th Oct 2009 16:26
A poor performance from mining and financial stocks ensured that Footsie ended with triple-digit losses. Insurer Prudential, which saw a surge in US business but posted a fall in UK sales, was a heavy faller. The Pru lifted group-wide retail sales by 10% to £699m in the third quarter thanks largel
Read moreLondon afternoon: Stocks steady at lower levels
28th Oct 2009 14:10
Miners and financials remain a dead weight around Footsie's neck, but elsewhere, leading shares are slowly beginning to claw back losses. Prudential, which saw a surge in US business but posted a fall in UK sales, is still among the heaviest fallers. The Pru lifted group-wide retail sales by 10% to
Read moreLondon midday: Miners join financials on the slide
28th Oct 2009 12:05
Miners have joined financial stocks in the dog house as the Footsie dives below 5200 and threatens to carry on going to sub-5100 levels. With metal prices in retreat miners such as Xstrata, Lonmin and Kazakhmys have muscled aside insurer Prudential in the race to be worst performing Footsie stock.
Read moreEmerging markets drive Glaxo sales growth
28th Oct 2009 12:04
Strong sales in emerging markets helped drug giant GlaxoSmithKline offset US weakness to post a rise in revenues in the third quarter. Pre-tax profits in the three months to September 30 totalled £2.065m, from £1.913m over the same period the previous year as turnover climbed to £6.758m from £5.882
Read moreLondon close: Footsie clings on
27th Oct 2009 16:47
Footsie managed to close with gains despite spending some of the day in the red, with oil giant BP leading the risers. BP climbed after it kicked off the oil majors results season with third quarter figures that showed a smaller than feared drop in profits. Profit attributable to shareholders came
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