Broker snap: Investec upbeat after IAG beats guidance in 2012
28th Feb 2013 09:25
Investec has retained its 'buy' rating and 270p target price for British Airways owner International Consolidated Airlines Group (otherwise known as IAG) after the 2012 bottom line result came in ahead of forecasts. The broker pointed out that IAG reported an operating loss of €68m for 2012, exclud
Read moreLondon open: Stocks gain as central bankers back stimulus
28th Feb 2013 08:28
Stocks were making solid gains on Thursday morning after the heads of central banks in the US and Europe defended their current easing policies. Speaking to Senate's Banking Committee on Capitol Hill over the last two days, US Federal Reserve Chairman Ben Bernanke defended the Fed's asset purchase
Read moreIAG beats guidance despite strengthening dollar -UPDATE
28th Feb 2013 07:18
International Airlines Group (IAG) has this morning announced a large drop in profitability as higher fuel costs and non-cash charges compensated for an improvement in passenger yields as airlines reduced capacity in response to the adverse economic environment. The company incurred in losses befo
Read moreIberia cancels flights ahead of second round of strikes
26th Feb 2013 11:13
Spanish airline Iberia, operated by International Consolidated Airlines Group (otherwise known as IAG), has cancelled 433 flights in preparations for a second round of strikes organised by labour unions. The strikes will span over five days. Meanwhile, management and labour unions have agreed to me
Read moreMonday broker round-up UPDATE
25th Feb 2013 07:26
Afren: Canaccord Genuity increases target price from 160p to 200p and reiterates a buy recommendation. Antofagasta: Bank of America upgrades to buy with a target price of 1400p. Ashmore Group: Espirito Santo shifts target price from 364p to 368p and maintains a neutral rating. ASOS: Deutsche Bank
Read moreLondon close: Footsie gains one per cent on German ZEW, M&A activity
19th Feb 2013 17:00
The FTSE 100 jumped one per cent on Tuesday after a better-than-expected reading of German confidence and increased M&A activity in the US. The ZEW Institute's index, which measures economic sentiment in the Eurozone's largest economy, surged to 48.2 in February, ahead of last month's reading of 31
Read moreIAG has no intention of raising Vueling offer, reports claim
19th Feb 2013 16:49
International Airlines Group (IAG) will not increase its initial 7.0 euros-per-share offer for Spanish low-cost airline Vueling, Expansion reports. The announcement follows a report by another Spanish newspaper, which said that the airline intended to boost its offer to €7.50-8.00 per share. Acc
Read moreIberia and labour unions search for common ground
19th Feb 2013 09:38
Iberia, the Spanish subsidiary of International Airlines Group (IAG), is facing day two of a five-day strike organised by labour unions as both sides try to reach common ground on the most conflictive issues in negotiations: salaries, job cuts, and productivity. According to Spanish daily El Econom
Read moreTuesday newspaper round-up: RBS, BP, Nestlé...
19th Feb 2013 06:55
David Cameron has said he wants state-backed Royal Bank of Scotland to speed up restructuring and has refused to rule out giving the government's share in the bank to the public. The government owns 82pc of RBS after pumping in 45bn pounds of capital when the bank neared collapse in 2008. Speaking i
Read moreLondon close: Central banks and political risk in focus
18th Feb 2013 16:32
London equities finished slightly lower on Monday despite Wall Street having remained closed in observance of Presidents' Day, which usually leads to a positive bias in stocks. Weighing on equities, however, were the weak retail sales data out of China, which in turn weighed on equities. As well,
Read moreIAG subsidiary Iberia announces strike action
18th Feb 2013 14:25
FTSE 100-listed International Airlines Group's (AIG) Spanish subsidiary Iberia has cancelled 40 per cent of the flights it had scheduled for Monday following strike action undertaken by its employees. An update issued by the Iberia press office at 11 o'clock in the morning reported that 54 of the s
Read moreLondon midday: Falls in metals' prices weigh on stocks
18th Feb 2013 12:42
London equities were 'treading water' at midday after being left without the benefit of Wall Street to provide some offset to weak retail sales data out of China. Chinese consumers reigned in their spending over the Lunar New Year festivities by the most in four years, as authorities cracked down
Read moreMonday newspaper round-up: Sterling, BoE, Centrica
18th Feb 2013 06:57
Hedge funds and investment managers are dumping sterling as disappointing economic growth in the UK, the threat of a downgrade of its debt and an upcoming change of guard at the Bank of England have fuelled concerns about a drop in the country's asset values. More speculators are shorting the pound
Read moreEU Commission to block Ryanair's bid for Aer Lingus
12th Feb 2013 14:17
Ryanair's bid for Aer Lingus is to be blocked by the European Commission, a move which the Irish budget airline claims is based purely in the interests of the Irish government. The company released a statement on Tuesday afternoon saying that it had been informed by the Commission at a 'State of Pl
Read moreIAG subsidiary Iberia commencing redundancy plans - 3,800 jobs affected
12th Feb 2013 12:46
FTSE 100-listed International Airlines Group's wholly-owned Spanish subsidiary Iberia has started the formal process of collective redundancy, with 3,807 jobs to be affected. The company, which is the third largest airline in Europe, reported that there would be a 30-day consultation process. IAG
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