Broker tips: Tullow, AB Foods, Hays
9th Jul 2009 13:09
Irish oil company Tullow Oil's recent share price weakness merely reflects the slide in the price of crude, Morgan Stanley believes, and the US bank reckons the company's prospects look good over the medium term. Tullow's exciting discoveries in Uganda and Ghana are set to drive future earnings gro
Read moreLondon midday: Mining stocks in the driving seat
9th Jul 2009 12:17
Mining stocks are behind the wheel once again and today they are driving the market higher. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Randgold Resources to "hold" from "buy". Elsewhere in the sector An
Read moreBroker snap: Hays divides opinions
9th Jul 2009 12:12
After its chief executive Alistair Cox said in an interview with the FT this week that he saw no end to the "brutal job market", the market was braced for terrible figures from recruitment firm Hays and was not disappointed, though opinions differ on where the company goes from here. Singer Capita
Read moreLondon open: Miners provide early boost
9th Jul 2009 08:33
Miners are giving London's blue chips a lift in early dealings ahead of the Bank of England's decision on interest rates and the quantitative easing programme later today. Fresnillo is the best performer, up more than 5%, closely followed by Kazakhmys, Anglo American, Vedanta Resources, Antofagasta
Read moreLondon pre-open: London gets pep from Wall St. rally
9th Jul 2009 07:44
The late rally yesterday on Wall Street has put traders in a positive frame of mind ahead of the Bank of England's decision today on interest rates and the quantitative easing programme. City sources predict the FTSE 100 will open around 21 points up from the previous close of 4,140. Fund manager
Read moreHays says demand continues to weaken
9th Jul 2009 07:03
Recruiter Hays said it has been another tough quarter with demand continuing to weaken in both its temporary and permanent placement businesses. In the quarter ended June 2009, the group saw a reduction in net fees of 37% (40% on a like-for-like basis) versus last year. The difference between the h
Read moreThursday preview: BoE rate decision, AB Foods, Man Group
8th Jul 2009 17:52
The Bank of England's Monetary Policy Committee (MPC) announces its interest rate decision on Thursday. The decision itself is likely to prove a non-event with the MPC unanimously expected to keep the Bank's key lending rate unchanged, but there may be an update on the quantitative easing (QE) progr
Read more