Wednesday broker round-up:
8th Apr 2015 16:42
AstraZeneca: Morgan Stanley lifts target price to 4,500p from 4,300p, reiterates underweight. BG Group: Canaccord Genuity improves target price to 1,300p from 1,016p and downgrades to hold. GlaxoSmithKline: Deutsche Bank raises target price to 1,600p from 1,300p and reiterates hold. Tate&Lyle: Num
Read moreLondon midday: UK stocks continue to retreat as miners fall
27th Mar 2015 11:38
Mining stocks led UK equity markets lower on Friday as the pull-back from recent records continued, with little in the way of corporate or economic news to drive sentiment. After a 1.4% drop on Thursday, the FTSE 100 was down a further 0.3% at 6,873.30 by midday. London's blue chip index has now fa
Read moreLondon open: Mining stocks drag FTSE 100 lower for fourth day
27th Mar 2015 08:30
UK stocks declined for a fourth straight day on Friday morning as the FTSE 100 continued to pull back from recent all-time highs. The Footsie was down 0.1% at 6,888.66 in early deals with mining stocks among the worst performers. London's blue chip index has continued to fall after hitting a new rec
Read moreLondon pre-open: Flat start for FTSE expected after sell-off
27th Mar 2015 07:34
London's blue chips were set for a subdued start on Friday as investors pause for breath following a sell-off the previous session. City sources predict the FTSE 100 will open broadly flat on Thursday's close of 6,895.33 after dropping 1.4%. The index has fallen for the last three sessions after hi
Read moreICAP mulling spin-off of electronic trading arm EBS-BrokerTec, rumours say
27th Mar 2015 07:31
London interdealer broker ICAP is rumoured to be looking to spin off its electronic trading arm EBS-BrokerTec. The FTSE 250 company's management have been mulling the split and, according to sources cited by Bloomberg, have recently discussed the separation with clients and potential advisers. The
Read moreIcap revenues continue to decline in Q3 but at slower pace
10th Feb 2015 10:33
Interdealer money broker Icap beat expectations for its third quarter results as signs of improved market activity emerged in some areas, though revenues continued to decline during the period. Revenues were down 1% on last year on a constant currency basis, a significant improvement from the 9% dec
Read moreIcap fined £11.3m by European Commission
4th Feb 2015 14:09
The European commission has fined interdealer money broker Icap £11.3m for rigging Libor, though the company plans to challenge the ruling. The commission, which began a process against Icap in June, said the fine related to the broker's role in facilitating a number of cartels involved in setting b
Read moreThursday tips round-up: Enterprise Inns, Punch Taverns, ICAP
20th Nov 2014 17:19
Change is good, but not quite what UK MPs have in mind. Their vote in favour of ending the so-called 'beer-tie' is a great idea. In effect, it will allow large pub operators to purchase their beer from wherever they like, instead of being forced to buy it from the likes of Enterprise Inns or Punch T
Read moreICAP results disappoint but 'cautious optimism' raises hopes
19th Nov 2014 09:04
First-half revenues, profits and earnings fell short of most analyst expectations, but interdealer broker ICAP was "cautiously optimistic" after market conditions improved in September and October Analysts were less bullish, as ICAP, which has several regulatory and legal investigations looming ahea
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreBroker tips: Tullow Oil, Icap
3rd Oct 2014 17:55
On Friday analysts at Credit Suisse lowered their price target on shares of oil explorer Tullow Oil to 800p from 885p beforehand. That came on the heels of their recent reduced forecasts for the price of oil, although the impact of that was expected to be partially offset by a moderately lower pound
Read moreCredit Suisse reiterates 'underperform' on Icap
3rd Oct 2014 17:51
On the last day of the week Credit Suisse reiterated its 'underperform' recommendation on Icap stock, while keeping its price target at 370p. Nevertheless, it did trim its fiscal year 2015 earnings per share forecast by 7% so as to reflect slightly weaker revenues in the first half and an FX 'headwi
Read moreWednesday tips round-up: RBS, Icap
1st Oct 2014 19:09
The speech delivered by the RBS boss at this year's Merrill Lynch banking conference, in London, was far more upbeat than the one delivered by his predecessor Fred Goodwin, in 2008, during the start of the last financial crisis. At the end of that day, six years ago now, the share price dropped by t
Read moreTalktalk CFO to step down in November
30th Sep 2014 11:59
Talktalk's chief financial officer (CFO) has announced his intention to step down following the release of its interim results on 11 November. He will replaced by current group finance director of ICAP, Steve Makin. Talktalk's chief executive Dido Harding said: "Steve has been an excellent CFO i
Read moreICAP posts poor trading update, brokers show mixed outlook for future results
30th Sep 2014 10:23
Interdealer broker ICAP revealed on Tuesday that revenue figures for the half-year ended 30 September are expected to show a 10% decrease from last year on a constant currency basis and a 15% decrease on a reported basis. The company blamed lower trading volumes and challenging market conditions for
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