London midday: Resource stocks drag FTSE 100 into the red
5th Jan 2015 11:36
UK stocks were trading firmly in the red by Monday lunchtime despite a positive start, with shares in the oil and mining sectors providing a drag. London's FTSE 100 was down 0.9% at 6,489 by midday, dropping sharply after reaching a high of 6,576.74 early on. This week will be the first full tradin
Read moreLondon open: UK stocks rise ahead of data-heavy week, M&S falls
5th Jan 2015 08:18
After an initial dip, UK stocks pushed into positive territory early on Monday as traders returned to their desks after the festive holidays in an optimistic mood. London's FTSE 100 index was up 0.4% at 6,571, quickly bouncing off an intraday low of 6,522.59 reached shortly after the open. "This Mo
Read moreSector movers: Defensive pharma stocks fall as Santa Rally continues
23rd Dec 2014 16:18
Pharmaceutical and healthcare stocks were leading the fallers on Tuesday as investors dumped defensive assets amid a continued pre-Christmas rally. UK stocks have risen for six straight days as markets rebounded strongly following a recent sell-off. While more cyclical sectors such as construction
Read moreGSK shareholders approve Novartis deal
18th Dec 2014 14:04
British drug-maker GlaxoSmithKline said its shareholders have given the green light to a deal with Swiss firm Novartis, which will see the two groups trade over £12.7bn of assets. The agreement, which was originally unveiled in April, will see GSK buy Novartis' vaccines business, while Novartis will
Read moreGSK to cut US jobs amid £1bn costs reduction plan
30th Nov 2014 13:14
GlaxoSmithKline (GSK) is set to cut hundreds of jobs in the US as part of a new cost-cutting strategy. In October, the British drug-maker unveiled plans aimed at saving £1bn in annual costs over the next three years and it is expected to cut staff jobs in its biggest market. According to sources qu
Read moreLondon midday: FTSE flat as energy shares slump ahead of OPEC meeting
27th Nov 2014 11:33
Heavy falls in the energy sector kept a lid on gains for the FTSE 100 on Thursday as investors awaited the outcome of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna. London's benchmark index was up just 0.06% at 6,733 by midday. The index has traded broadly s
Read moreFirst phase of Ebola vaccine tests successful, GSK says
27th Nov 2014 10:21
An Ebola vaccine developed by Glaxosmithkline (GSK) has passed its first phase trial after testing 20 volunteers in the US. The British drugmaker said the vaccine was "well-tolerated" and produced an immunological response in all the volunteers. The vaccine, produced by the National Institutes of H
Read moreLondon open: Investors await pivotal OPEC meeting, Brent drops
27th Nov 2014 09:12
The UK stock market opened flat on Thursday as investors awaited a jam-packed day full of economic data, policymaker speeches and a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC). London's FTSE 100 index was down 0.1% at 6,722 in early deals. While US markets will be cl
Read moreLondon pre-open: All eyes on the OPEC meeting, stocks inch higher
27th Nov 2014 07:32
US markets might be closed together for Thanksgiving but those hoping for a quiet day could be disappointed with the Organization of Petroleum Exporting Countries (OPEC) set for a pivotal meeting in Vienna. City sources predict the FTSE 100 will open around eight points higher than yesterday's close
Read moreUS private equity outfit to bid for GlaxoSmithKline´s mature drugs business
13th Nov 2014 19:08
US private equity outfit Apollo Global Management is preparing to make a bid for all of GlaxoSmithKline's mature drugs, joining an auction which could see the business valued at over $3bn (£1.91bn), according to four people familiar with the process, Reuters reports. As of 20:05 the American Deposit
Read moreFriday broker round-up UPDATE
7th Nov 2014 09:44
AstraZeneca: Deutsche Bank increases target price from 4100p to 4350p and reiterates its hold recommendation. AVEVA: Societe Generale reduces target price from 2250p to 2000p, while keeping its buy recommendation. Big Yellow Group: Citi raises target price from 470p to 540p and maintains its neutra
Read moreFTSE 100 movers: StanChart slides after third-quarter results disappoint
28th Oct 2014 14:46
Shares in banking group Standard Chartered dropped after the company reported a 16% decline in operating profit in the third quarter and said that full-year earnings would be lower than last year. Shares in banking counterpart Standard Chartered dropped after the company reported a 16% decline in op
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreGSK shareholder-friendly policy shift could hurt credit profile, Fitch says
27th Oct 2014 15:24
Fitch Ratings has warned that GlaxoSmithKline's (GSK) proposal to float part of its HIV drugs unit could hurt the group's credit profile. The proposed move, which is seen as the first step of a potential shift towards more "shareholder-friendly financial policies" coupled with the drugmaker's weak s
Read moreBroker tips: Lloyds, GlaxoSmithKline, Airlines
27th Oct 2014 12:32
Lloyds may have passed the Europe-wide stress tests, but the UK's own bank-health checks may be an issue, according to broker Jefferies which downgraded the stock from 'hold' to 'underperform' on Monday. The broker reckons that Lloyds is now "at risk" ahead of the Prudential Regulation Authority's f
Read more