Broker tips: Vodafone, Glaxo, Next
14th Jul 2009 12:23
Vodafone is losing share in three of its four main European markets according to UBS, which has downgraded its rating of the mobile phone giant. The Swiss bank believes the stock is a short-term sell and has switched its medium-term recommendation to "neutral" from "buy" while cutting its price tar
Read moreBroker snap: Vaccine demand to give Glaxo shot in the arm
14th Jul 2009 11:50
Panmure Gordon has reiterated its recommendation to buy shares in pharmaceuticals giant GlaxoSmithkline after the World Health Organisation described the spread of the H1N1 flu virus as unstoppable. "GSK [GlaxoSmithKline] should benefit from the situation medium term, and it is worth noting that GS
Read moreLondon afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its clients to take advantage of recent share price weakne
Read moreFTSE 100 movers: Defensives in demand
8th Jul 2009 12:44
On a somewhat sluggish day for the FTSE 100, defensively oriented stocks are in demand. Drug group GlaxoSmithKline and tobacco firm Imperial are in demand. Shares in Autonomy fell after climbing yesterday when the data search technology giant said it expects second quarter earning to beat consensus
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
Read moreWednesday newspaper round-up: Banks face new crackdown
24th Jun 2009 06:21
Ministers will announce a crackdown on Britain's biggest banks next week, putting pressure on them to reorganise or face a blitz of more onerous capital and liquidity rules. In a move that could push up their cost of capital or force them to accept worse terms from their trading counterparties, lar
Read moreTuesday newspaper round-up: Northern Rock, GlaxoSmithKline, Setanta
16th Jun 2009 06:16
The Government is working on a plan to use Northern Rock's own funds to buy back debt from the stricken bank's bondholders in a move that could release billions of pounds of capital for the nationalised group. The deal could mean that the Government would not have to inject all the £3bn in extra ca
Read moreSector movers: Miners ease as commodites correct
12th Jun 2009 12:27
Mining stocks have come off slightly after some good gains recently as commodity prices retreat following a strong performance. Vedanta is one of the worst hit. The Indian miner is to raise $1bn through an issue of convertible bonds, but major shareholder Volcan has declined to take part in the is
Read moreLondon close: Banks boost Footsie late
11th Jun 2009 16:33
London rallied strongly late on, helped by gains for banks, which outweighed profit taking among the big mining stocks and weakness among oil users as the price of crude rose again. Speculation is growing about the timing of the government's withdrawal from ownership of large stakes in Royal Bank
Read moreFTSE 100 movers: Broker support lifts Invensys
11th Jun 2009 14:59
Invensys is doing better during the recession than Goldman Sachs expected, prompting the broker to its rating on the engineer from 'neutral' to 'buy'. Broker comment also sent banking giant HSBC higher. Swiss outfit Credit Suisse upped the shares to 'outperform' from 'neutral'. There were also gai
Read moreLondon afternoon: Banks in demand
11th Jun 2009 14:47
London is having a languid day, with Footsie lacking direction. Banks are strong but their gains are counterbalanced by losses on mining stocks. Banks are in focus as speculation grows about the timing of the government's withdrawal from ownership of large stakes in Royal Bank of Scotland (RBS), L
Read moreLondon midday: Leading shares remain mixed
11th Jun 2009 11:54
Leading shares continue to tread water, with little sign of strong influence from Wall Street, which is expected to open moderately firmer. Home Retail Group is slightly off the pace after this morning's trading statement. The retailer said both Argos and Homebase enjoyed better than expected sales
Read moreBroker tips: Glaxo, Home Retail, engineers
11th Jun 2009 11:44
The share price of drugs giant GlaxoSmithKline has moved sideways since the start of March and has some catching up to do in relation to the share price performance of its European peers, reckons Morgan Stanley. The US bank has upgraded its rating on the stock from 'underweight' to 'equal weight' a
Read moreBroker snap: Glaxo shares to enter catch-up mode
11th Jun 2009 11:05
The share price of drugs giant GlaxoSmithKline has moved sideways since the start of March and has some catching up to do in relation to the share price performance of its European peers, reckons Morgan Stanley. The US bank has upgraded its rating on the stock from 'underweight' to 'equal weight' a
Read moreLondon close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
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