London open: Stocks claw back after heavy sell-off
9th May 2012 08:35
- Eurozone political uncertainty still ongoing - ITV, Sainsbury, Glencore wanted after updates - Weir and Sage fall sharply While the political uncertainty in the Eurozone is still on investors' minds, the FTSE 100 opened slightly higher on Wednesday morning following steep losses seen the day befo
Read moreLondon pre-open: Slight rise expected after Tuesday's heavy losses
9th May 2012 07:37
City sources predict the FTSE 100 will open up 12 points from yesterday's close of 5,555, somewhat paring loses of 101 points in the previous session as political uncertainty in Greece continues to demoralise investors across Europe. Terrestrial broadcaster ITV has forecast its first half net adv
Read moreGlaxo goes hostile in HGS takeover
9th May 2012 07:10
GlaxoSmithKline has taken an offer of 13 dollars a share directly to the shareholders of Human Genome Sciences (HGS). In April Glaxo made an offer to purchase US biopharmaceutical firm HGS, but saw its bid 'rejected without discussion'. HGS replied that the UK pharmaceuticals giant had made an of
Read moreThursday broker round-up
3rd May 2012 09:15
Afren: finnCap downgrades from buy to hold. Carnival: Shore Capital upgrades from hold to buy. CSR: Jefferies reiterates buy rating and 290p target. Fenner: Credit Suisse downgrades from outperform to neutral, target cut from 540p to 480p. Ferrexpo: Renaissance Capital upgrades from hold to buy.
Read moreTuesday tips round-up: Aberdeen Asset Management, Harvey Nash, GSK
1st May 2012 06:59
Tempus in the Times likes Aberdeen Asset Management. It's grown its AUM (assets under management) figure both through deals, and latterly through organic growth and has now made it into the FTSE 100. Recent performance has been so strong (AUM: £184.7m, 9% up over the last six months) that Tempus s
Read moreThursday broker round-up - UPDATE
26th Apr 2012 08:36
Admiral: Oriel Securities retains sell rating and 740p target. AstraZeneca: Panmure Gordon maintains buy rating and 3,600p target. Barclays: Nomura reiterates neutral rating and 268p target; Exane BNP Paribas keeps outperform rating and 300p target; Oriel Securities keeps buy rating and 285p targe
Read moreLondon close: Footsie pares gains after gloomy GDP data
25th Apr 2012 16:36
- UK back in recession, GDP figures show - Markets await FOMC statement - Miners gain after China says growth will be 'robust' Despite a strong start, the FTSE 100 finished only mildly higher on Wednesday afternoon as investors digested some worse-than-expected UK economic data. The Office for Nat
Read moreFTSE 100 movers: Miners leap on Chinese PM's comments
25th Apr 2012 15:21
Miners were in demand following comments from Chinese Prime Minister Wen Jiabao that the government is committed to reforms in the country that are expected to ensure growth in the second-largest economy in the world remains robust. Vedanta was the biggest riser, up over four per cent, with Xstrat
Read moreEurope woes limit growth at Glaxo but outlook unchanged
25th Apr 2012 11:59
Drugs giant GlaxoSmithKline saw a modest increase in group revenue in the first quarter of 2012 as growth in the US, Emerging Markets/Asia Pacific (EMAP) and Japan offset declines in Europe. Total turnover amounted to £6,640m, up 2% at constant exchange rates (CER) or 1% on a reported basis. Phar
Read moreWednesday preview: Glaxo, Standard Life, UK GDP
24th Apr 2012 18:44
First quarter results from drugs giant GlaxoSmithKline are due out at noon on Wednesday, with both sales and profits expected to be higher than a year ago. The market is expecting sales to edge up to £6.83bn from £6.59bn last year, and for profit before tax to move up to £2.02bn from last year's £1
Read moreTuesday broker round-up
24th Apr 2012 09:27
ARM Holdings: Nomura maintains neutral rating and 600p target. Associated British Foods: Nomura keeps buy stance and 1,325p target; Jefferies mains hold recommendation and 1,155p target. Barclays: Investec maintains buy rating and 240p target. BBA Aviation: Jefferies keeps buy rating and 250p tar
Read moreGlaxo sells international non-core OTC brands to Aspen
20th Apr 2012 13:17
GlaxoSmithKline's shareholders are set for another return of capital this year following the divestment of more non-core over-the-counter (OTC) brands in its international markets to Aspen Pharmacare Holdings. The company announced on Friday afternoon that it will sell 'Phillips MOM', 'Solpadeine',
Read moreWeek Ahead: Barclays kicks off banking results season
20th Apr 2012 10:57
Barclays kicks off the banking results season on Thursday, while the pharmaceuticals giants are also putting the finishing touches to their trading statements, with Glaxo, Astra and Shire all set to give first quarter updates. Anglo-Dutch Footsie heavyweights Royal Dutch Shell and Unilever will be
Read moreFriday newspaper round-up: Barclays, Aviva, Manufacturers
20th Apr 2012 07:00
The determination to find new blockbuster drugs has encouraged GlaxoSmithKline to bid $2.6 billion for a company that it admits has uncertain prospects. GSK has offered to buy its long-term partner Human Genome Sciences for $13 a share, an 81 per cent premium to the previous day's price. The compani
Read moreLondon close: Footsie flat, gains pared after US data
19th Apr 2012 16:32
- Stocks wobble after US data, French rumours - Spanish auction strong - Cable and Wireless Worldwide extends offer deadline After a solid start, London's blue chip index finished flat on Thursday as weaker-than-expected economic data from the US dampened sentiment late on. US stocks started cauti
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