Broker tips: SABMiller, Glaxo, Chemring
18th Jan 2011 12:45
Nomura expects to see a short-term bounce in SABMiller's share price following the volume improvement in the third quarter, but the broker remains cautious about the brewer's ability to achieve a return to historical growth rates. The owner of Peroni and Grolsch said that its third quarter volumes
Read moreTechMARK movers: Optos grows revenues by 10%
18th Jan 2011 12:33
Shares in Optos have fallen back even though there was a 10% year-on-year increase in revenues in the three months to December 2010. The medical retinal imaging company reported a fall in operating lease revenues but these were more than made up for by higher outright sales and sales under finance
Read moreBroker snap: Glaxo to shrug off legal tribulations
18th Jan 2011 12:06
GlaxoSmithKline's (GSK) latest legal charge has not persuaded financial services firms Matrix to change its 'buy' rating on the stock as the broker believes that the pharmaceuticals giant will emerge from the latest lawsuits in a stronger position. On Monday GSK announced a new legal charge of £2.2
Read moreTuesday newspaper round-up: BRICs, Inflation, GlaxoSmithKline...
18th Jan 2011 06:33
Goldman Sachs has issued a short-term alert on China and India as inflation rears its ugly head, advising clients to rotate into Wall Street and Old World bourses as a safer bet over coming months. "We're not as tactically positive on the BRICs as we have been," said Tim Moe, the bank's chief Asia-
Read moreSector movers: Smiths give industrials a lift
17th Jan 2011 15:57
The general industrials sector was given a boost on Monday by Smiths Group. Shares in Smiths Group were soaring Monday after the maker of medical devices and airport scanners said after the close of trading on Friday that it had rejected a £2.45bn approach for its biggest division Smiths Medical.
Read moreGlaxo takes £2.2bn legal charge for fourth quarter
17th Jan 2011 14:59
GlaxoSmithKline (GSK) will take a legal charge of £2.2bn for the fourth quarter of 2010, mostly linked to an investigation into US sales and promotional practices and for product liability cases regarding diabetes drug Avandia. The British company had already flagged a charge of £1.57bn for the sec
Read moreGlaxo snaps up Maxinutrition for £162m
13th Dec 2010 14:07
GlaxoSmithKline is paying Darwin Private Equity £162m in cash for protein drinks firm Maxinutrition. The British drugs giant, which already owns the Lucozade sports drink franchise, will own brands like Maximuscle used by weight-trainers. Maxinutrition is Europe's top sports nutrition company by
Read moreGlaxo in Chinese bolt-on acquisition
7th Dec 2010 08:02
Anglo-American drugs giant GlaxoSmithKline is to increase its exposure to the fast growing Chinese pharmaceuticals market. Glaxo is paying around $70m in cash for MeiRui, a company with a strong portfolio of urology and allergy products, including Prostat for benign prostatic hyperplasia and Shenit
Read moreLondon afternoon: ECB inaction deflates market
2nd Dec 2010 14:28
The absence of any mention of plans to launch a bond purchase in the European Central Bank (ECB) press conference this afternoon has taken some of the glow off equities. "We expect the governments to follow what they are committed to, they all have their adjustment and stabilisation programmes," E
Read moreGlaxo ups Theravance stake by $129m
29th Nov 2010 11:10
GlaxoSmithKline has increased its stake in American lung drug firm Theravance to 19% after picking up 5.75m shares in a private placing today. The UK drugs giant is paying $22.5 a share for the holding, valuing the deal at $129.4m and taking its total interest in its respiratory drug partner to 15.
Read moreThursday newspaper round-up: Ireland, General Motors, GlaxoSmithKline
18th Nov 2010 06:31
The Irish Government finally signalled yesterday that it may bow to international pressure and accept a multibillion-pound bailout, amid divisions in the Commons over whether Britain should contribute. While the details of any package may be several days away, there were growing signs that Britain c
Read moreTechMARK movers: Vodafone goes ex-dividend
17th Nov 2010 13:38
TechMARK's decline will undoubtedly have been influenced by Vodafone going ex-dividend. Mobile phone networks operator Vodafone is paying an interim dividend of 2.85p a share, which is similar to the size of the fall in the share price. Vodafone is the biggest company in TechMARK Positive news fr
Read moreFTSE 100 movers: Ex-dividend declines
17th Nov 2010 13:38
Footsie's fallers are dominated by shares that are going ex-dividend. Marks & Spencer, Carnival, Sainsbury and Vodafone have all gone ex-dividend today. Retailer Marks & Spencer is paying an interim dividend of 6.2p a share but the share price has fallen by nearly double the amount of the dividen
Read moreFTSE 100 movers: ARM recovers
28th Oct 2010 12:57
Footsie is moving ahead today thanks to a wide range of companies. Chip designer ARM is clawing back some of its recent losses. Vodafone has spent another £21.7m on buying back shares. That takes the total spent since 16 September to £464.5m. The share price has risen by more than 8% in the past
Read moreLondon close: Bad day ends badly
27th Oct 2010 16:12
London ended the day heavily in the red as a triple-digit fall on Wall Street knocked an attempted rally by Footsie firmly on the head. Reports suggesting that any new stimulus in the US will be smaller than expected hit the miners with Kazakhmys, Xstrata and Rio Tinto the worst performers. Britis
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