Broker snap: Glaxo's Q2 misses, but Jefferies stays positive
25th Jul 2012 16:10
Jefferies has maintained its 'buy' rating and 1,600p target price for pharmaceuticals giant GlaxoSmithKline in despite of the second-quarter miss, but says that any falls in the stock should be seen as a buying opportunity. "The well flagged weakness in the Q2'12 earnings should not come as a major
Read moreFTSE 100 movers: ARM leaps after beating market expectations
25th Jul 2012 15:58
Cambridge-based computer chip designer ARM Holdings beat market expectations with its second-quarter results, as demand for its intellectual property continues to make it a British technology success story. Outsourcing behemoth Capita advanced after saying it is confident of growing revenue this y
Read moreGlaxo sales to remain flat this year
25th Jul 2012 12:14
Drugs giant GlaxoSmithKline reported flat revenues at constant exchange rates (CER) in the first half, but saw turnover slip in the second quarter as growth from key investments areas was offset by pressure on mature products in Europe and the US. The group said that full-year sales are now expecte
Read moreWednesday preview: Glaxo, ARM, BATS, Capita, GDP
24th Jul 2012 17:23
GlaxoSmithline's second quarter update should see the group just about manage to increase revenue year-on-year if the analyst community following the pharmaceuticals colossus is on the money. Second quarter revenue is tipped to rise to £6,750m from £6,720m a year earlier, while core operating profi
Read moreLondon open: Markets drop on Eurozone debt concerns
23rd Jul 2012 08:25
- Banks and miners dent the Footsie - Eurozone concerns dampen sentiment - Spanish 10-year bond yield at 7.556 per cent European stocks dropped sharply on Monday morning as concerns about the Eurozone debt crisis provoked fear on equity markets. London's Footsie lost 1.5% of its value in the openi
Read moreLondon close: Global growth concerns weigh on stocks
16th Jul 2012 16:39
- China's Wen dampens sentiment - IMF cuts global growth forecast - G4S, Tullow, Sage and Barclays lead the fallers The FTSE 100 finished flat on Monday as a late burst of buying helped the benchmark index recover some of its earlier losses on the back of concerns over the global economic outlook.
Read moreGlaxo wins HGS approval after lifting its bid
16th Jul 2012 15:25
Week-end reports that Anglo-American drugs giant GlaxoSmithKline was close to sealing a takeover of US peer Human Genome Sciences (HGS) have proved correct, with the UK company lifting its offer terms to secure approval from the HGS board. Glaxo is offering $14.25 a share for HGS in a deal which va
Read moreLondon midday: Footsie flat despite heavy falls for G4S and Barclays
16th Jul 2012 11:42
- Chinese economic concerns weigh on sentiment - ECB moves to make senior bondholders share burden - G4S, Barclays, Sage, National Grid lead the fallers on FTSE 100 UK stocks were trading broadly flat by Monday lunchtime, though sentiment had been dampened by concerns over the Chinese economy and c
Read moreSunday newspaper round-up: RBS, Glaxo, National Grid
15th Jul 2012 15:34
Two powerful private equity consortiums are secretly planning to bid for Direct Line, the giant insurer owned by Royal Bank of Scotland ? a move that would scupper a planned float. RBS is expected to push the button on a London listing of Direct Line in September. Two American buyout giants, Blackst
Read moreLondon midday: Footsie pares losses but still in the red
11th Jul 2012 11:33
- Burberry leads stocks lower after Q1 update - Johnson Matthey, Lloyds, Centrica, SSE fall after broker downgrades - FOMC minutes due out later The FTSE 100 had pared some of its earlier losses but was still trading firmly in the red by Wednesday lunchtime with a disappointing trading update from
Read moreLondon open: Burberry leads stocks lower
11th Jul 2012 08:46
- Burberry sinks after Q1 results - Sentiment dampened by US earnings - FOMC minutes eyes London's benchmark index sank in early trading on Wednesday, tracking losses in US and Asian markets overnight, with Burberry providing a drag after missing sales forecasts in its first quarter. "A series of
Read moreEarly signs good for Glaxo/Pfizer HIV drug
11th Jul 2012 07:17
Shionogi-ViiV Healthcare, a company in which pharmaceuticals leviathans GlaxoSmithKline and Pfizer have stakes, has published test results which suggest its HIV treatment might be more effective than the Atripla drug jointly developed by Gilead Sciences and Bristol-Myers Squibb. Initial results fro
Read moreFTSE 100 movers: Marks and Spencer shares higher
10th Jul 2012 15:20
First-quarter like-for-like (LFL) sales took a tumble at High Street giant Marks and Spencer, though the food business held up well, and full-year guidance remains unchanged, prompting shares to rise. BAE Systems is moving higher on the back of positive comments out of UBS. Mining heavyweights we
Read moreTuesday newspaper round-up: Glaxo, the City, Finland
3rd Jul 2012 06:55
GlaxoSmithKline paid for American psychiatrists to enjoy luxury weekends in Hawaii as it illegally sought to persuade them to prescribe an anti-depressant drug for children, US authorities alleged, as they handed the UK drugs company fines totalling a record 3 billion dollars (1.9 billion pounds). T
Read moreLondon midday: Footsie advances as Barclays rebounds
2nd Jul 2012 11:41
- Better-than-expected manufacturing data from Asia - Eurozone jobless rate at all-time high - UK manufacturing PMI beats forecasts London's blue-chip index held on to gains on Monday morning with Barclays leading the risers as it continues to rebound after last week's sharp falls. Economic data f
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