IAG flying in profits from north Atlantic routes - UPDATE
29th Feb 2012 07:07
British Airways and Iberia owner International Consolidated Airlines Group (IAG) reported a five-fold increase in pre-tax profit during 2011, beating analyst forecasts and giving the share price a lift in morning trading. Pre-tax profit surged 499% from €84m to €503m, on revenues that grew 10.4% fr
Read moreFuel costs a worry for IAG
28th Feb 2012 17:04
International Airlines Group (IAG) will present its annual results on Wednesday morning. Analysts at Nomura weighed in on what they expect. They currently have a buy recommendation with a price target of 160 pence. The good news, according to the Japanese brokerage, is that plans to increase capacit
Read moreWednesday preview: Standard Chartered, Taylor Wimpey, IAG
28th Feb 2012 15:59
Standard Chartered becomes the second London-quoted but predominantly oversea-focused banking giant to report this week, following in the foot-steps of HSBC. Nomura thinks there may be risks of estimate downgrades but notes this is true for virtually all banks. In December, Standard Chartered said
Read moreLondon close: Losses pared, but stocks still down on macro worries
22nd Feb 2012 16:32
- Risk of a Eurozone recession increase as PMIs show contraction. - Fitch downgrades Greece from CCC to C. - Rexam up 7pc after FY results, Vedanta falls 5pc after yesterday's surge. Stocks rallied in afternoon trade in London, recovering from the slump experienced in mid-morning. However, the Foot
Read moreIberia cancels 121 flights due to pilot strike
20th Feb 2012 11:55
Spanish airline Iberia, part of the International Consolidated Airlines Group (IAG) cancelled 121 flights on Monday as a result of industrial action. The airline's unionised workers continue to protest against the creation of low-cost affiliate Iberia Express and called for additional strikes on Fr
Read moreSunday newspaper round-up: Lehman, Tax cuts, North Sea, Iran
19th Feb 2012 16:12
George Osborne came under pressure from three sides today to put tax cuts at the heart of next month's Budget. Nick Clegg sought to sharpen dividing lines with the Tories as the Liberal Democrats pressed for more help for low earners. Labour called for an emergency VAT cut while senior Tories urged
Read moreLondon close: Stocks finish down with Greece in focus
15th Feb 2012 16:38
- Oil rises on supply concerns. - PBOC to keep buying Eurozone debt. - Samaras to honour terms of new package. Despite an earlier rise, the FTSE 100 index slumped in afternoon trade to finish in the red as strong performance by banks was offset by some heavyweight stocks that went ex-dividend. All
Read moreBroker snap: Credit Suisse ups forecasts for IAG
15th Feb 2012 14:37
Ahead of International Airlines Group's (IAG) full-year results at the end of the month, Credit Suisse has raised its price target by 24% to 189p from 152p. However, with the new target leaving only a 6% upside potential to the current share price, the broker has reiterated its neutral recommenda
Read moreLondon midday: Banks provide a boost
15th Feb 2012 11:45
- Banks lead the risers on the Footsie. - PBOC to keep buying Eurozone debt. - Venizelos foresees bailout resolution. UK stocks were slightly higher by midday after China pledged to continue buying Eurozone bonds, easing concerns of the region's debt crisis. Banks were the best performers of the d
Read moreWednesday broker round-up - UPDATE
15th Feb 2012 09:25
Essar Energy: Morgan Stanley upgrades to neutral from underperform. Anglo American: Citi downgrades to neutral from buy. International Consolidated Airlines: Credit Suisse raises target from 152p to 189p, neutral rating kept. InterContinental Hotels: Credit Suisse raises target to 1,521p from 1,
Read moreWednesday tips round-up: IAG and InterContinental Hotels
15th Feb 2012 06:46
In the Times, Tempus sings the praises of Willie Walsh, who has managed to keep British Airways flying through a two year union dispute and the financial crisis of 2008-09 when BA lost £1bn. In 2011 the company is expected to have made a spectacular recovery, with pre-tax profits coming in at aroun
Read moreLondon open: Miners tank in early trade
7th Feb 2012 08:35
A fall in the mining sector outweighed a strong showing by oil stocks as the Footsie slipped in early trading. Eyes will again be on Greece with as the meeting between Prime Minister Lucas Papademos and the country's three main political parties, originally scheduled for yesterday, is due to take p
Read moreLondon close: Markets waiting on Greece
6th Feb 2012 16:25
- Glencore and Xstrata merger may face regulatory probe. - Board room bust-up at Bumi unnerves Nomura. - Snow fun's no fun for airlines. As the market waited - once again - for Greece to agree on a package of austerity measures that will secure another tranche of aid, investors took the precaution
Read moreLondon midday: Miners drag Footsie lower as Greek crisis continues
6th Feb 2012 11:58
Losses were pared by midday, but London's blue chip index remained firmly in the red with Greek talks continuing to weigh on sentiment. Meanwhile, US stock futures were pointing to a weak start on Wall Street. After a meeting last night between the three parties of Greece's coalition government, Pr
Read moreMonday broker round-up - UPDATE
6th Feb 2012 09:12
Supergroup: Oriel Securities upgrades to buy from hold. Glencore: Jefferies ups target from 525p to 575p, confirms buy rating; Credit Suisse maintains outperform rating and 550p target. Royal Dutch Shell: Credit Suisse downgrades from outperform to neutral, cuts target from 2,750p to 2,600p. Xst
Read more