Broker tips: Tullow Oil, IG Group, Hikma
26th Aug 2011 12:48
UBS says that Tullow Oil is in a comfortable financial position, and with catalysts "plentiful" in September, the broker keeps its buy rating on the Africa-focused oil giant. "With the expectation of receiving $2.9bn cash for the sale of its Ugandan assets, coupled with growing cashflows from Jubil
Read moreBroker snap: UBS cuts target for Hikma after first half miss
26th Aug 2011 12:47
UBS has cut its target price for FTSE 250 pharmaceuticals firm Hikma from 900p to 850p after first half revenues and earnings came in below forecasts. The broker notes that revenues in the six months to 30 June of $395m missed its forecasts by 1.7% and consensus estimates by 0.4%. "While reported
Read moreLibyan civil war hurts Hikma
25th Aug 2011 10:27
Disruption in Libya and Yemen contributed to a fall in profits at pharmaceuticals group Hikma in the half year to 30 June. Gross profit fell to $172.6m from $178.5m over the same period the previous year, on revenues that climbed to $394.8m from $377.7m. Gross profits in the company's branded prod
Read moreHikma to distribute iron deficiency treatment
17th Aug 2011 07:09
Drugs developer Hikma Pharmaceuticals is to market Ferinject, Vifor Pharma's treatment for iron deficiency, in the Middle East and North African (MENA) region. The agreement covers Algeria, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, South Sudan, Sudan, Syria, Tunisia and Yemen; collectively, the
Read moreHikma acquires minority stake in Chinese pharma company
11th Jul 2011 10:42
Generic drugs maker Hikma Pharmaceuticals has acquired a minority stake in China's Hubei Haosun Pharmaceutical through the subscription of new equity for $5m in cash. This deal will give Hikma access to the Chinese company's Wuhan province facility, which is certified by the U.S. Food and Drug Admi
Read moreIAG non-exec opens account with £2.5m purchase
26th May 2011 16:13
Non-executive chairman Cesar Alierta Izuel has opened his account in British Airways owner International Consolidated Airlines in a big way, spending nearly £2.5m on shares. He took 165,000 shares at €2.82 a time, 729,575 at €2.84 and 105,425 at €2.75. Izuel has been on the board of IAG since the
Read moreLondon close: Late rally falls short
12th May 2011 16:58
Shares clawed back some of their losses ahead of the close but still finished firmly in the red as miners sank in line with commodity prices. Metals prices were on the decline amid monetary tightening in China, hurting mining stocks such as Fresnillo, Vedanta Resrouces and Kazakhmys. Lower oil pric
Read moreSector movers: Miners fall on commodities sell-off
12th May 2011 15:16
Unsurprisingly, the miners are the worst performing stocks on Thursday, as commodity prices continue to decline. Fresnillo, Antofagasta, Vedanta Resources, Kazakhmys and Lonmin are among the fallers on the FTSE 100. Eurasian Natural Resources Corporation is lower even though it reported a positive
Read moreFTSE 250 movers: Supergroup, Keller plummet
12th May 2011 14:56
Two companies, SuperGroup and Keller, took a tumble on Thursday, both falling over 20% lower. Fast-growing fashion group SuperGroup failed to get its summer range out in time for the unseasonably warm weather seen recently, resulting in a lower sales growth rate in the three months to 1 May. Grou
Read moreHikma shrugs off Middle East unrest
12th May 2011 12:07
Hikma Pharmaceuticals said it was on track to hit growth forecasts, with its operations businesses in Egypt, Tunisia and Bahrain performing well despite recent unrest. The Jordan-based firm said it was very pleased with the speed at which operations in these countries were returning to normal, alth
Read moreLondon midday: Losses widen amid commodity slide
12th May 2011 12:05
The FTSE 100's losses have grown with miners on the back foot amid worries over global growth. Silver specialist Fresnillo leads the mining sector lower in the FTSE 100. Worries that China may further tighten monetary policy are hurting commodity prices. Lower oil prices were evident on the markets
Read moreLondon close: Footsie finishes just shy of 6,000
15th Apr 2011 16:52
Footsie finished on or around its high point for the day but just shy of the 6,000 level. Risers outnumbered fallers by about three to one among FTSE 100 constituents, with resource stocks featuring prominently among the laggards. Real estate investment trusts British Land and Land Securities led
Read moreLondon midday: Banks dull after Ireland downgrade
15th Apr 2011 12:02
The top share index failed to regain the 6,000 level in the morning, but came close before subsiding just before midday. Banks are dragging the index lower, offsetting good gains among property companies. Banks such as Royal Bank of Scotland, Lloyds and Barclays are off the pace as sentiment sour
Read moreLondon open: Resource stocks wanted
15th Apr 2011 08:37
The Footsie is sidling back up towards the 6,000 level, with resource stocks leading the way after China's economy grew faster than expected in the first quarter. ENRC, Antofagasta and Lonmin are the picks of the mining sector while among oils Cairn and Tullow are the stocks to have. Betting shops
Read moreHikma takes strategic stake in Indian firm
15th Apr 2011 08:02
Jordan-based Hikma Pharmaceuticals has entered into a strategic partnership with the Indian pharmaceutical company Unimark Remedies. Hikma is paying $33.3m to take a minority stake in privately held Unimark, one of India's leading manufacturers of active pharmaceutical ingredients (API) and API int
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