Broker snap: Pfizer case to be positive for UK pharma stocks, says Matrix
16th Aug 2011 13:01
Matrix has highlighted the effect that the patent infringement case won by US pharmaceutical group Pfizer will have on its London-listed peers, GlaxoSmithKline, AstraZeneca and Shire. "Yesterday, Pfizer announced it had prevailed in its patent infringement action against generics company Teva Pharm
Read moreBroker tips: BATS, Pharma, Wincanton
16th Aug 2011 12:59
Nomura has raised its estimates for cigarette giant British American Tobacco, as a result of a strong first half performance and a positive second half pricing outlook. "Estimate increases are driven by encouraging first half organic performance (even ex Japan) and a positive pricing outlook going
Read moreWPP takes control of Campaigns and Grey
4th Aug 2011 08:12
Global advertising agency WPP is set to acquire further shares in Campaigns and Grey (C&G), one of the Philippines' leading advertising agencies. The move, to be effected through WPP subsidiary Grey, a full service communications agency, means WPP will now hold a majority rather than minority stak
Read moreWednesday tips round-up: Glaxo, BG, Finsbury Food...
27th Jul 2011 06:53
Amid all the doom and gloom across the stock market and beyond, GlaxoSmithKline gave investors a reason to smile yesterday. Yes, turnover was down in the second quarter, but the pace of decline was slower than before. Not just that, but profits were sharply higher, and the second-quarter dividend wa
Read moreLondon close: Footsie recovers to close higher
26th Jul 2011 16:55
The top share index finished in the blue on Tuesday despite a volatile day of trading, as investors digested a host of trading updates and results from some heavyweight constituents. Meanwhile, the US debt ceiling saga continued to roll on in the background as President Barack Obama and House Spea
Read moreFTSE 100 Movers: Mixed receptions for oil giants
26th Jul 2011 13:45
After beating market expectations the oil and gas behemoth BG Group saw its share price head north. The company's underlying second-quarter net income came in a shade ahead of expectations at $1.15bn, up from a restated $918m the year before. Underlying profit before tax saw a sharp incline from
Read moreGlaxo foresees margin improvement in 2012
26th Jul 2011 11:26
Pharmaceutical giant GlaxoSmithKline reported a 4% decline in quarterly revenue, indicating a significant drop in pandemic flu product sales, which was a major growth driver the year before as a result of the swine flu pandemic scare. However, the company's shares gained momentum after it gave a r
Read moreLondon close: US debt uncertainty persists, Footsie finishes under
25th Jul 2011 16:42
The Footsie trimmed earlier gains as markets in the US recovered after a weak start. Despite falling as low as 5,893 on Monday, London's blue chip index finished firmly above the 5,900 mark, as giants BP, ARM, BG and GlaxoSmithKline rose ahead of their interim results due tomorrow. While stocks on
Read moreTuesday preview: BP, BG, Glaxo ...
25th Jul 2011 15:49
Two of the UK's big oil companies are set to release quarterly figures on Tuesday: BG Group and BP. Shares in BG shot up at the end of June after the company doubled its estimates for the Brazilian Santos Basin reserves and resources, but the shares have drifted lower for most of July. "In Q1 [th
Read moreLondon close: Footsie closes higher, despite afternoon sell-off
22nd Jul 2011 16:31
After a solid start on the back of positive developments in Europe, the Footsie trimmed gains in the afternoon as investors looked to lock in profits following a strong finish on Thursday. Despite touching as high as the 5,967 level before midday, the Footsie steadily declined to close at 5,935. Me
Read moreSector movers: Astra, GSK fall on UBS comments
22nd Jul 2011 14:57
UBS dampened the mood in pharmaceuticals and biotechnology, meaning that the sector fell to the bottom of the pile on Friday. UBS Investment Research cut its rating on the European pharmaceutical sector to "neutral" from "small overweight," saying the defensive sector that benefited from the econom
Read moreFTSE 100 movers: Financials mixed as investor lock in profits
22nd Jul 2011 14:18
The financial sector was mixed on Friday, despite rising strongly early on following yesterday's Eurozone deal to bailout Greece. Shares soared on Thursday after the region's leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. While RBS bucked the tre
Read moreBroker snap: UBS downgrades European pharma to neutral
22nd Jul 2011 13:01
UBS Investment Research cut its rating on the European pharmaceutical sector to "neutral" from "small overweight," saying the defensive sector that benefited from the economic soft patch and the sovereign debt crisis, will be hit by the turnaround in these lead indicators. UBS strategist Nick Nels
Read moreWednesday newspaper round-up: North Sea oil, BP, Sports Direct
6th Jul 2011 06:06
The Treasury has buckled under pressure from the energy industry by trimming its £2bn windfall tax on North Sea oil producers to provide loopholes for early stage, less profitable offshore drilling operations. Just four months after George Osborne imposed a special levy on oil and gas exploration to
Read moreEnquest chief exec spends more millions
1st Jul 2011 16:06
Enquest's chief executive Amjad Bseisu has been increasing his stake in the FTSE 250-listed North Sea oil and gas group, spending nearly £3m on shares. Double A, "a discretionary Trust in which the extended family of Amjad Bseisu have a beneficial interest" took about 2.44m shares at 121.6p a time
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