London midday: Footsie slides as IMF spreads the gloom
9th Oct 2012 11:37
- IMF cuts global growth forecasts for 2012 and 2013 - UK economic data comes in mixed - Footsie still down despite mining strength The FTSE 100 remained firmly in the red during the morning session Tuesday after the International Monetary Fund (IMF) cast a cloud of gloom over the markets after dow
Read moreBroker tips: Rio Tinto, Barclays, Hays
9th Oct 2012 11:17
UBS has raised its target price for resources giant Rio Tinto from 4,600p to 4,700p and kept its 'buy' rating, saying that the stock is its preferred pick of the UK diversified miners. The broker said that Rio "offers the greatest leverage [within the UK diversified mining sector] to a recovery in
Read moreBroker snap: Seymour Pierce upgrades Hays to 'buy'
9th Oct 2012 09:59
Seymour Pierce has upgraded its rating for recruitment firm Hays from 'hold' to 'buy', after the group's first-quarter results came in ahead of expectations. The firm posted a 1% decline in like-for-like net fee income (NFI) in the three months to September 30th, better than the 2% fall Seymour Pie
Read moreTuesday broker round-up
9th Oct 2012 09:05
3i Group: Morgan Stanley raises target from 221p to 233p, equal weight rating kept. Aberdeen Asset Management: Morgan Stanley raises target from 315p to 365p, overweigh rating kept. Aggreko: HSBC downgrades to neutral. Alternative Networks: Westhouse upgrades to strong buy. ASOS: Panmure Gordon
Read moreLondon open: Stocks slip after IMF cuts growth forecasts
9th Oct 2012 08:25
- IMF cuts global growth estimates - Q3 US earnings season to kick off this evening - Capita and Aggreko dented by broker downgrades UK stocks continued to fall on Tuesday morning following a steep drop the day before, as concerns about the global economy were fuelled by a downgrade to growth forec
Read moreHays produces mixed third quarter update
9th Oct 2012 07:11
Recruitment company Hays has produced a mixed performance in the third quarter against an uncertain economic backdrop. Although markets were stable, overall group net fees were down 1% against the prior year. Net fees decreased 9% in the UK & Ireland, the international business delivered growth of
Read moreTuesday preview: Hays, dotDigital, industrial production
8th Oct 2012 16:10
After Michael Page's profit warning on Monday, shareholders in sector peer Hays must be fearing the worst ahead of the recruiter's third quarter trading update. Peel Hunt says markets are clearly still challenging. "Asian markets, where NFI [net fee income] is weighted towards banking, are weak and
Read moreLondon midday: Worries over growth hit the miners
8th Oct 2012 11:41
- Global growth concerns weigh on cyclicals - Investors worries about Eurozone uncertainty - Evraz sinks after gloomy broker comments After a steep fall early on, the FTSE 100 traded sideways for most of the morning session with cyclical stocks (including the miners and banks) dampened by concerns
Read moreLondon open: Stocks dented by global growth concerns
8th Oct 2012 08:21
- World Bank cuts forecasts for China - Evraz leads miners lower - BAE drops on risks to EADS merger UK stocks slid sharply on Monday morning with mining and financial shares weighing on the FTSE 100 early on as concerns over the global economy spurred a move away from 'risk'. The World Bank has c
Read moreWeek Ahead: Michael Page, Hays, Travis Perkins
5th Oct 2012 08:52
Recruiters Hays and Michael Page kick the week off on Monday with interim management statements. For Michael Page, Peel Hunt thinks trends seen at the interims are unlikely to have changed materially, except perhaps that the slowdown in Asian growth may have accelerated. The outlook will likely re
Read moreRevolving door spins again in M&B board room
21st Sep 2012 07:22
Another director at embattled pubs group Mitchells & Butlers (M&B) is on his bike, with Doug Evans announcing his intention to take up a role as company secretary and general counsel at recruitment agency Hays. The All Bar One and Harvester chains owner has had its fair share of board room upheaval
Read moreLondon close: Stocks slip as stimulus hopes fade
30th Aug 2012 16:50
- Speculation ramps up ahead of Jackson Hole meeting - Decent US data dampens hopes for extra stimulus - Volatility could increase in coming weeks, says UniCredit The FTSE 100 index experienced its third consecutive day in the red on Thursday as economic stimulus-related optimism began to fade ahea
Read moreFTSE 250 movers: Hays drops after cutting dividend
30th Aug 2012 15:52
Heading south was recruitment group Hays after saying that it expects the overall economic backdrop to remain "difficult" in 2013. The firm cuts its full-year dividend by more than a half due to the increasing global economic uncertainty, which slowed the pace of the profit growth. Shares in Cape
Read moreLondon midday: Miners unwanted ahead of Jackson Hole meeting
30th Aug 2012 12:00
- Jackson Hole speculation ramps up - Global economic data disappoints - Evraz, Kazakhmys and the miners provide a drag in London UK stocks were continuing to trade in the red by Thursday lunchtime as equity markets the world over showed their nerves ahead of some eagerly-awaited central bank meet
Read moreThursday broker round-up
30th Aug 2012 09:35
Admiral: Nomura keeps buy rating and 1,300p target. Antofagasta: Jefferies raises target from 1,050p to 1,200p, hold rating kept. APR Energy: Investec upgrades from hold to buy, target cut from 1,100p to 950p. Cape: Investec maintains buy recommendation and 300p target. Consort Medical: N+1 Brew
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