Broker tips: GKN, BSkyB, Home Retail
19th Oct 2011 12:28
GKN was the worst performer on the FTSE 100 at midday on Wednesday, despite Investec expecting the market to "take comfort" in the group's latest 'in line' update. "GKN is a highly volatile stock that will continue to fluctuate with global autos and broader macro concerns. However, on this update i
Read moreBroker snap: Downgrades likely at Home Retail, says Singer
19th Oct 2011 12:16
Following Home Retail's disappointing first half results, Singer Capital Markets says that downgrades to full-year estimates of between 15-20% are likely. The Argos and Homebase owner said that overall sales were down 6% to £2,568m in the half year to the end of August while profit before tax fell
Read moreLondon midday: Stocks stay buoyant
19th Oct 2011 11:59
Shares are buoyant today, winning back some of the previous day's losses despite ongoing worries over the Eurozone. A 48-hour general strike has been called in Greece ahead of a vote on austerity measures. Spain, meanwhile, had its credit rating cut by two notches last night by the Moody's rating a
Read moreUPDATE: Wednesday broker round-up
19th Oct 2011 09:25
GlaxoSmithKline: Credit Suisse ups target from 1,310p to 1,340p, neutral rating kept. BHP Billiton: Credit Suisse reiterates outperform recommendation and 2,800p target. Standard Chartered: Credit Suisse keeps underperform rating and 1,400p target. Diageo: Nomura maintains neutral stance and 1,32
Read moreLondon open: RBS, Barclays and Lloyds lead the way
19th Oct 2011 08:32
Greece has been crippled by strikes. Spain's debt has been downgraded by Moody's. And EU officials say no deal has been reached on scaling up the Eurozone fund. But for now London's leading share index is in positive territory. A 48-hour general strike has been called in Greece ahead of a vote on a
Read moreSales falls 6% at Home Retail
19th Oct 2011 07:48
Sales and profits are down significantly at Home Retail Group, the company behind Homebase and Argos. Overall sales were down 6% to £2,568m in the half year to the end of August while profit before tax fell 70% to £28m and operating profit was down 72% at £27m. The interim dividend has been left a
Read moreWednesday preview: BHP Billiton, BSkyB, Home Retail, GKN
18th Oct 2011 15:43
Mining giant BHP has its annual general meeting on Wednesday, the same day it is set to produce quarterly production statistics. Credit Suisse forecasts that the company will have produced 35m tonnes (attributable to BHP) of iron ore worldwide in the third quarter of 2011, while copper production is
Read moreFTSE 250 Movers: Upgrade to Ferrexpo sends it higher
14th Oct 2011 12:55
Ferrexpo, was one of the high risers after the firm was upgraded from neutral to buy by UBS. The broker notes that the stock - while being up 34% from the 52-week low of 238.7p on 4 October on the back of mergers & acquisition speculation - is still down 35% from the high of 499p in July. Ophir E
Read moreUPDATE: Friday broker round-up
14th Oct 2011 08:59
Renishaw: finnCap downgrades from buy to hold, cuts target from 1,775p to 940p. Renishaw: UBS slashes target from 1,350p to 900p, neutral recommendation maintained. Renishaw: Singer Capital Markets slashes target from 1,350p to 900p, fair value rating kept. Royal Bank of Scotland: Evolution Secur
Read moreLondon close: Footsie finishes well below 5,000
4th Oct 2011 17:31
Though share prices recovered a tad after some reassuring noises from Federal Reserve chairman Ben Bernanke, London still finished the day deep on the red, with the Footsie well below the psychologically important 5,000 level. Federal Reserve president Ben Bernanke told the Joint Economic Committe
Read moreFTSE 250 Movers: Home Retail rises amid takeover talk
4th Oct 2011 15:55
The share price rose at retail chain Home Retail, which is apparently again the subject of take-over talk. Amongst the possible suitors which are being bandied about for the Argos owner are Wal-Mart or a US private equity fund, according to a report in The Times newspaper. TUI Travel was on the up
Read moreLondon midday: Banks plummet, retailers buck trend
4th Oct 2011 12:29
A decent performance from the retail sector was not enough to pull the market higher by lunchtime, as investors bailed out of banking, engineering and mining stocks on concerns over the global economy. Jean-Claude Juncker, chairman of the Eurogroup finance minister committee, has said that there wi
Read moreLondon open: Financial drag Footsie towards 5,000
4th Oct 2011 08:30
The poor performance seen Monday has continued with the Footsie dropping towards the 5,000 mark once again in the opening minutes, as concerns in the Eurozone continue to dominate the markets. Nevertheless, there were further messages of support for Greece - even if they have yet to be backed up by
Read moreRumours swirl around Home Retail?
4th Oct 2011 07:41
The retail chain Home Retail is apparently again the subject of take-over talk. Amongst the possible suitors which are being bandied about are Wal-Mart or a US private equity fund, according to a report in Reuters which in turn cites The Times newspaper. AB
Read moreLondon close: Greek worries continue as Footsie drops 1%
3rd Oct 2011 16:48
Losses in London were trimmed by the end of trade on Monday after a relatively better start on Wall Street, as US benchmarks fell by just a few points. Nevertheless, concerns over the Greek deficit continued to weigh on sentiment in Europe, with major markets across the continent suffering falls of
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