London open: Stocks rise after German data and Chinese central-bank action
26th Jun 2013 08:51
UK stocks opened with moderate gains on Wednesday morning as markets continued to claw back from their recent sell-off, with data from Germany and central-bank action in China providing some support early on. While Germany continues to trudge through the Eurozone recession, consumer confidence is
Read moreICAP signs 425m pound revolving credit facility
19th Jun 2013 08:31
ICAP, the FTSE 250-listed markets operator and provider of post trade risk mitigation and information services, has reported the syndication and signing of a 425m pound multi-currency revolving credit facility, incorporating an 200m dollar swingline facility. The facility has a final maturity dat
Read moreTuesday broker round-up UPDATE
11th Jun 2013 07:22
AG Barr: Investec cuts target price from 591p to 581p, while upgrading from add to buy. Canaccord Genuity upgrades to buy with its target price at 570p. Aquarius Platinum: Nomura reduces target price from 90p to 65p, but keeps its buy recommendation. AstraZeneca: Berenberg takes target price from
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreFTSE 250 movers: Tullett Prebon and ICAP jump after UBS upgrade
30th May 2013 14:48
Inter-dealer brokers Tullett Prebon and ICAP surged on Thursday afternoon after UBS upgraded both stocks from 'sell' to 'neutral' following their recent underperformance. While the broker said it remains cautious on inter-dealer brokers in general due to "structural issues", it sees "risks to the
Read moreThursday broker round-up UPDATE
30th May 2013 08:19
AMEC: Morgan Stanley reduces target price from 1220p to 1100p and retains an underweight rating. Amlin: JP Morgan takes target price from 360p to 400p maintaining an underweight rating. Brewin Dolphin: Canaccord Genuity raises target price from 230p to 285p and reiterates a buy recommendation. C
Read moreWednesday tips round-up: Icap, Babcock, Severn Trent
15th May 2013 07:19
Icap is fighting to restructure and survive. Hence the very positive market reaction on Tuesday when it announced that it would beat its target for cost savings. Far more important even, traders breathed a sigh of relief that it did not cut its dividend payment. Nevertheless, a 12 per cent revenue d
Read moreFTSE 250 movers: ICAP rockets despite profits falling 20 per cent
14th May 2013 15:26
ICAP's annual pre-tax profit fell 20 per cent to 284m pounds compared to the previous year as the broker was hit by the weak global economy, low interest rates and regulatory reforms. Nevertheless, that was 'in-line' with consensus expectations given company guidance in its recent trading statement.
Read moreLondon midday: FTSE 100 snaps eight-day winning streak as miners fall
14th May 2013 11:50
Strong gains in the utilities sector after a takeover approach for Severn Trent and some well-received results from Babcock International weren't enough to lift markets into positive territory by Tuesday lunchtime, as the FTSE 100 snapped an eight-day winning streak. "The broader market malaise is
Read moreICAP reveals drop in annual pre-tax profit and revenue
14th May 2013 08:24
ICAP's annual pre-tax profit fell 20 per cent to 284m pounds compared to the previous year as the broker was hit by the weak global economy, low interest rates and regulatory reforms. The UK-based voice and electronic dealer broker and provider of post-trade risk services revealed a 12% decrease in
Read moreTuesday broker round-up UPDATE
14th May 2013 08:04
Babcock International: Jefferies increases target price from 1080p to 1250p and maintains a buy recommendation. Barratt Developments: Bank of America takes target price from 265p to 325p, while downgrading to neutral. Belgravium Technologies: WH Ireland places both its target price and its neutral
Read moreICAP responds to reports of CFTC probe
9th Apr 2013 08:54
ICAP on Tuesday responded to reports it was being investigated for claims of price manipulation of benchmark interest-rate swaps. The Commodity Future Trading Commission (CFTC) has issued subpoenas to ICAP brokers and as many as 15 Wall Street banks, Bloomberg reported. The regulator plans to int
Read moreLondon close: Markets surge as M&A activity lifts sentiment
2nd Apr 2013 16:40
UK stocks surged on Tuesday, starting the week strongly after the four-day Easter weekend, as increased M&A activity and a strong reading of US factory orders lifted sentiment. Telecoms giant Vodafone was among the risers on London's benchmark index on the back of speculation that it could be the t
Read moreFTSE 250 movers: FirstGroup lifted by Bank of America note
2nd Apr 2013 15:57
Travel company FirstGroup rocketed higher after Bank of America Merrill Lynch issued a bullish note on the stock. Inter-dealer broker ICAP was on the rebound after a recent profit warning. Giving it a boost was the news that Nasdaq is set to purchase eSpeed, which Shore Capital pointed out has a si
Read moreLondon midday: Stocks rise, M&A speculation boosts Vodafone
2nd Apr 2013 11:36
The FTSE 100 had gained one per cent by Tuesday lunchtime as traders made up for lost time following a long four-day weekend for the Easter holidays. Telecoms giant Vodafone was leading the risers on London's benchmark index on the back of speculation that it could be involved in the biggest M&A d
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