GSK completes sale of stake in Aspen Pharmacare
20th Nov 2013 07:03
GlaxoSmithKline (GSK) has completed the partial sale of Aspen Pharmacare, the drug company announced on Wednesday. The group has disposed 28.2m ordinary shares in Aspen at a price of 250 South African Rand (ZAR) per share, raising gross proceeds of 7,059m ZAR. The sale will leave GSK with 56.5m or
Read moreFTSE 100 movers: Aberdeen retreats from yesterday's big high
19th Nov 2013 15:38
Fund manager Aberdeen was firmly in the red, pulling back after a 15 per cent surge on Monday following the announced acquisition of the Scottish Widows Investment Partnership Group from Lloyds, as well a strong increase in annual profits. Numis downgraded the stock to 'hold' this morning, although
Read moreGSK to sell down Aspen Pharma stake
19th Nov 2013 15:31
GlaxoSmithKline has revealed plans to sell 450m pounds of shares in Africa's largest drug company, Aspen Pharmaceutical. GSK said it wanted to offload around a third of its 19% stake in Johannesburg-listed Aspen, which is currently valued at 122bn rand, equivalent to £7.5bn. The 6% of sold shares
Read moreGSK awarded European marketing authorisation for asthma and COPD treatment
18th Nov 2013 15:13
Pharmaceutical giant GlaxoSmithKline (GSK) has received European marketing authorisation for Relvar Ellipta, a treatment for asthma and Chronic Obstructive Pulmonary Disease (COPD), which is now licensed across 31 European countries. Darrell Baker, the Head of GSK Global Respiratory Franchise, sai
Read moreBroker tips: RBS, Vodafone, GlaxoSmithKline
12th Nov 2013 12:56
Analysts at Goldman Sachs have a positive view on the strategy outlined by Royal Bank of Scotland alongside its third-quarter results. However, the group's new target for common Tier-1 equity, of over 12% versus over 10% before, means that there is now reduced upside potential in RBS shares, "towar
Read moreBroker snap: Panmure downgrades GSK after heart drug failure
12th Nov 2013 12:40
Broker Panmure Gordon downgraded GlaxoSmithKline after its heart drug Darapaldib, 'the great white hope in the pipeline', failed to reach its primary end-point in a late-stage trial. Analyst Savvas Neophytou trimmed his forecasts, mainly assuming a £150m writedown in the fourth quarter even though
Read moreTuesday broker round-up UPDATE
12th Nov 2013 09:20
Accesso: Canaccord Genuity raises target price from 680p to 770p and keeps a buy recommendation. Andor Technology: FinnCap places both its target price (prev.: 390p) and its hold recommendation under review. Babcock International: Jefferies increases target price from 1250p to 1600p retaining a bu
Read moreLondon open: Stocks fall ahead of UK inflation data
12th Nov 2013 08:22
- Markets eye inflation data - BoE Inflation Report due tomorrow - Corporate earnings come in mixed techMARK 2,636.87 -0.14% FTSE 100 6,706.83 -0.32% FTSE 250 15,395.24 -0.16% UK markets opened lower on Tuesday morning as investors refrained from building positions ahead of domestic inflation data
Read moreGlaxoSmithKline heart disease drug misses key target
12th Nov 2013 07:10
GlaxoSmithKline's heart disease drug, darapladib, has missed a key milestone in its development. The trial drug, which is designed to tackle heart problems in a totally different way to cholesterol-lowering medication, was in the first of two "pivotal" late-stage clinical studies. Patrick Vallan
Read moreLondon pre-open: FTSE to open marginally higher
12th Nov 2013 06:59
City sources predict the FTSE 100 will open around two points higher than yesterday's close of 6,728.37, tracking modest gains seen in the US last night and ahead of today's inflation figures. US markets ended slightly higher yesterday, with the Dow Jones Industrial Average hitting another record c
Read moreFriday broker round-up UPDATE
8th Nov 2013 09:21
Abcam: Canaccord Genuity moves target price from 396p to 386p and keeps a sell recommendation. N+1 Singer shifts target price from 450p to 445p downgrading to sell. Aberdeen Asset Management: Jefferies lowers target price from 440p to 430p and reiterates a hold recommendation. Anglo American: Gold
Read moreTuesday broker round-up UPDATE
29th Oct 2013 08:48
Adept Telecom: Northland Capital revises target price from 145p to 165p and reiterates a buy recommendation. Aggreko: JP Morgan reduces target price from 1620p to 1505p, while its neutral recommendation remains unchanged. UBS cuts target price from 1610p to 1555p keeping its neutral rating. APR En
Read moreLondon close: Markets lifted by corporate earnings, China outlook
24th Oct 2013 16:22
- FTSE 100 at levels not seen since May - China manufacturing PMI at seven-month high - Financials, miners and pharma stocks gain techMARK 2,642.27 +0.68% FTSE 100 6,713.18 +0.58% FTSE 250 15,526.93 +0.21% UK markets set a fresh five-month high on Thursday as investors celebrated an improved outlo
Read moreSector movers: Shire gives pharma sector a boost after Q3 beat
24th Oct 2013 15:31
Strong results from Shire injected some gains into the pharmaceuticals sector on Thursday after the company beat quarterly forecasts and hiked its guidance for the full year. The FTSE 100 specialty biopharmaceuticals stock was up an impressive 8.4% at 2,737p in afternoon trade following its results
Read moreBroker snap: ECB stress tests to restore confidence in banks, says Credit Suisse
24th Oct 2013 09:44
Creidit Suisse believes that the new round of stress tests by the European Central Bank (ECB) should improve confidence in European banks as it reiterated its 'overweight' position on the sector. The ECB on Wednesday outlined proposals for a year-long series of health checks on European banks, whic
Read more