Wednesday preview: Glaxo, Next
30th Oct 2012 15:59
Drugs giant GlaxoSmithKline issues third quarter figures on Wednesday with the market expecting revenue to decline but earnings to rise. Revenue is forecast to slide by around 5% to £6,758m from £7,104m the year before, but operating profit is seen climbing to £2,257m from £2,179m. Earnings per sh
Read moreGlaxo & Pfizer rejig JV deal with Shionogi
29th Oct 2012 07:09
ViiV Healthcare, a joint venture (JV) between drugs giants GlaxoSmithKline and Pfizer, is to acquire the exclusive global rights to the assets of Shionogi-ViiV Healthcare, a JV set up with Shionogi, the Japanese pharmaceuticals firm. The assets include the investigational medicine dolutegravir and
Read moreSunday newspaper round-up: Pearson, 40p tax, BAE
28th Oct 2012 19:28
News Corporation has joined the race for Penguin with a last-minute overture to the directors of Pearson, the media conglomerate that owns the book publisher. Glen Moreno, Pearson's chairman, will put the approach to directors in the next few days. Rupert Murdoch, the chairman and chief executive of
Read moreWeek ahead: Banking results and election fever to take centre-stage
26th Oct 2012 09:08
Next week is set to be an extremely busy week, looking at the corporate and economic calendar from home and abroad. Third-quarter UK corporate earnings season really gets into full swing with some heavyweight Footsie constituents scheduled to report, including GlaxoSmithKline, Shell, Smith & Nephew
Read moreFTSE 100 movers: Burberry rises on signs of improved trading
11th Oct 2012 15:35
Shares in stock market darling Burberry, the luxury fashion chain, leapt on Thursday, after it said its situation had started to improve towards the end of the July-September quarter, during which time sales growth in its stores slowed dramatically, as expected. LFL sales over the half-year were u
Read moreLondon close: Stocks end flat after BoE and ECB decisions
4th Oct 2012 17:02
- BoE and ECB hold rates - US data beats estimates - Next leads risers after broker comments The Footsie swung between gains and losses for most of Thursday's session but finished the day broadly flat following a busy day on the global economic calendar, which saw policy decisions in the UK and Eur
Read moreLondon midday: Stocks edge higher as BoE holds rates
4th Oct 2012 11:47
- Middle-East tensions dampen sentiment - BoE holds rates; ECB decision eyed - Investors await US jobless claims After swinging into negative territory briefly, the FTSE 100 was back above water by Thursday lunchtime ahead of interest rate decisions in the UK and Europe. Meanwhile, investors were s
Read moreLondon open: Stocks gain ahead of central bank announcements
4th Oct 2012 08:23
- Investors await BoE and ECB decisions, FOMC minutes - Tate & Lyle jumps after Credit Suisse upgrades - Halfords appoints new CEO after strong Q2 European stock markets have opened with moderate gains ahead of what is likely to be a busy day on the economic front, with rate decisions due out from
Read moreGlaxo's HIV drug a step closer to regulatory submission
4th Oct 2012 07:25
Pharmaceuticals behemoth GlaxoSmithKline said its joint venture company, Shionogi-ViiV Healthcare, has completed an initial clinical registration package for dolutegravir, its treatment for HIV patients. Phase III data required for initial regulatory filings for dolutegravir to be used on adults in
Read moreFTSE 100 movers: BAE drops on broker notes
13th Sep 2012 14:56
Defence group BAE Systems was also a heavy faller, pulling back after surging yesterday on discussions with aerospace giant EADS regarding a "possible combination" of the businesses. Investec, Societe Generale and Oriel Securities cut their recommendations for the stock this morning. Hot on its hee
Read moreGlaxoSmithKline increases stake in Response Genetics
13th Sep 2012 14:43
Pharmaceuticals giant GlaxoSmithKline (GSK) has acquired five million newly-issued shares in Response Genetics, taking its stake in the company to around 15.2 per cent. GSK purchased the shares at 110 cents each in cash. "This transaction builds on the relationship GSK and Response Genetics have
Read moreWednesday broker round-up
5th Sep 2012 09:20
AMEC: Nomura retains buy rating and 1,240p target. Ashtead: UBS ups target from 340p to 375p, buy rating unchanged. ASOS: Oriel Securities upgrades to buy; BarCap upgrades to overweight, target lifted rom 1,800p to 2,400p. BP: Investec keeps buy rating and 460p target. BT Group: JPMorgan Cazenov
Read moreLondon close: Footsie finishes flat after long weekend
28th Aug 2012 16:48
- Markets await Jackson Hole symposium - Miners lower on concerns over Japan - Chemring drops after profit warning. Concerns about global economic growth were weighing on sentiment on Tuesday, meaning that the FTSE 100 was little changed by the close despite some volatile swings between gains and
Read moreLondon midday: Stocks erase losses after Spanish auction
28th Aug 2012 11:47
- Spanish bond auction lifts sentiment - Miners lower on concerns over Japan - Chemring drops profit warning. London's blue-chip index was trading broadly flat by midday, having erased all of the morning's losses, after a solid Spanish bond auction eased concerns about the heavily indebted Eurozone
Read moreBroker tips: Glaxo, Bunzl, Ophir Energy
28th Aug 2012 11:17
UBS has lowered its recommendation for pharmaceuticals giant GlaxoSmithKline from 'buy' to 'neutral', saying that there's limited potential for further upside. "Given GSK's valuation, and somewhat reduced earnings visibility for the stock, we see less scope for performance versus peers, and thereby
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