Wednesday broker round-up:
8th Apr 2015 16:42
AstraZeneca: Morgan Stanley lifts target price to 4,500p from 4,300p, reiterates underweight. BG Group: Canaccord Genuity improves target price to 1,300p from 1,016p and downgrades to hold. GlaxoSmithKline: Deutsche Bank raises target price to 1,600p from 1,300p and reiterates hold. Tate&Lyle: Num
Read moreTuesday broker round-up
7th Apr 2015 11:59
Antofagasta: Jefferies reiterates buy. GlaxoSmithKline: Credit Suisse reiterates underperform and 1440p target. Micro Focus Intl.: Numis reiterates add and ups target price to 1,310p from 1,240p. Rockhopper Exploration: Canaccord Genuity starts coverage at buy and raises target to 190p from 180p.
Read moreGSK sale of Aspen stake a 'credit positive' move, says Moody's
19th Mar 2015 11:50
Rating agency Moody's has described GlaxoSmithKline's decision to sell a 6.2% stake in Aspen Pharmacare as "credit positive". On 13 March, the pharmaceutical giant sold half of its 12.4% stake in South Africa-based Aspen Pharmacare Holdings for £574m, in what Moody's described as a "credit-positive
Read moreFTSE 250 movers: Afren plummets on looming dilution, Diploma higher on Kubo deal
13th Mar 2015 13:47
Shares in Afren tumbled after the struggling oil and gas group proposed a debt-for-equity swap with creditors to address its funding needs and recapitalise . The company said it "will result in substantial dilution for existing shareholders", and if shareholders don't approve the plan, the company w
Read moreLondon midday: Markets slip after weak construction data, utilities fall
13th Mar 2015 12:03
Stocks in London dipped into the red on Friday morning after data showed an unexpected decline in UK construction output, while utility shares weakened on political uncertainty. The FTSE 100 was down 0.35% at 6,737.10 by midday with SSE and Centrica among the worst performers. Construction output d
Read moreLondon open: Stock markets flat ahead of quiet day
13th Mar 2015 09:06
UK stocks were more or less flat in early deals on Friday ahead of a quiet day for the markets in terms of economic data and corporate news. London's FTSE 100 was trading up just 0.01% at 6,761.79 early on. As it stands, the Footsie is still nearly 3% lower than where it stood last Friday as a stre
Read moreLondon pre-open: Stocks to edge higher early on
13th Mar 2015 07:46
UK stocks are expected to edge higher on Friday morning as markets continue to attempt to claw back heavy losses made earlier in the week. City sources predict the FTSE 100 will open around 10 points higher than Thursday's close of 6,761.07. As it stands, the Footsie is still nearly 3% lower than w
Read moreGlaxo completes part sale of Aspen stake
13th Mar 2015 07:07
Glaxosmithkline has sold half its stake in former South African associate Aspen Pharmacare for £0.574bn. Having sold 28.2m shares, at a price of 372 rand per share, GSK now holds a 6.2% stake in Aspen, South Africa's largest drug company. Glaxo has agreed not to dispose of any further shares in Asp
Read moreLondon close: Gains pared but markets buoyed by pharma, beverage stocks
12th Mar 2015 16:42
UK stocks were off their highest levels of the day by the close on Thursday as mining shares erased earlier gains, though strong performances from pharma and beverage groups provided some support, as well as M&A in the banking sector. The FTSE 100 finished the session up 39.56 points (+0.6%) at 6,76
Read moreGSK to sell half of Aspen Pharma stake
12th Mar 2015 15:52
GlaxoSmithKline (GSK) has revealed it plans to sell half of its 12.4% stake in South Africa's largest drug company, Aspen Pharmacare. Aspen shares currently trade at 40,650 South African rand, valuing it at roughly 185.3bn rand (£10.15bn). "GSK has a long and successful commercial partnership with
Read moreFTSE 100 movers: Astrazeneca soars on new diabetes research, RBS higher on upgrade
12th Mar 2015 14:00
AstraZeneca topped the risers as it committed $40m to backing phase 2a trials for a new diabetes drug - a form of long-acting insulin that only needs to be administered once week. Glaxosmithkline was boosted by news it plans to sell approximately half of its 12.4% stake in Aspen Pharmacare Holdings.
Read moreTuesday broker round-up
10th Mar 2015 11:53
Pearson: Barclays reiterates equal-weight recommendation and keeps target at 1,405p. UBM: Westhouse Securities takes target to 599p from 552p but reiterates add. ARM Holdings: Citi keeps at buy with a 1,35p target price. Kaz Minerals: Jefferies shaves target to 250p from 275p and reiterates hold.
Read moreThursday newspaper round-up: BoE, China, North Sea
5th Mar 2015 07:49
The Serious Fraud Office has opened a criminal investigation into the Bank of England over the potential rigging of money market auctions. Confirmation of the inquiry came last night with the central bank already under scrutiny over an earlier investigation into the foreign exchange-rigging scandal.
Read moreGSK completes Novartis asset-swap deal, plans to return $4bn to shareholders
2nd Mar 2015 07:52
Pharmaceutical giant Glaxosmithkline (GSK) has finally completed its multibillion-dollar three-part asset-swap deal with Swiss peer Novartis, clearing the way for a big cash return for shareholders. The transaction, first announced in April 2014, saw GSK buy the bulk of Novartis' global vaccines bus
Read moreGSK will complete Novartis three-way deal by end of next week
25th Feb 2015 16:33
UK drugs giant GlaxoSmithKline says it has made "good progress" on regulatory and legal issues towards completion of its deal with Swiss rival Novartis. GSK said it expected to complete the deal next week, just under a year after it was first announced, with the two pharmaceuticals groups trading ov
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