Tuesday broker round-up
17th Mar 2015 11:20
Aviva: Credit Suisse reiterates outperform and 610p target price. Legal&General: JP Morgan Cazenove ups target to 220p from 212p and reiterates underweight. Glencore: Investec reiterates buy and takes target to 328p from 306p. John Wood Group: Canaccord Genuity reiterates hold and lowers target to
Read moreIG Group reports £18.4m of client debt after January's SNB move
17th Mar 2015 08:03
London listed electronic trading firm IG Group on Tuesday revealed the full extent of the damage caused by the Swiss National Bank's move to scrap the franc's ceiling with the euro. In its third quarter trading update, IG, the country's biggest spread-trading and CFD broker by market share, reported
Read moreBroker tips: Dixons Carphone, JD Wetherspoon, IG Group
21st Jan 2015 11:52
Investec has lifted its target price for Dixons Carphone from 465p to 500p and retained its 'buy' recommendation for investors, saying that the update on Wednesday reflected a "Christmas cracker" for the electrical retailer. "Management has indicated expectations for [the year ending April 2015] to
Read moreUBS lowers IG Group to 'neutral', says risk-reward more balanced
21st Jan 2015 10:56
UBS said that the risk-reward balance when investing in IG Group is now more balanced due to its high valuation and limited operating leverage, as it cut its stance on the stock from 'buy' to 'neutral'. The shares are now trading at a 17% premium on a price-to-earnings ratio basis to the wider secto
Read moreLondon close: Chinese data offsets IMF downgrade
20th Jan 2015 17:23
Stocks ended the session with modest gains on the heels of better-than-expected growth figures in China. The FTSE 100 gained 34.57 points to finish the day at 6,629. China's gross domestic product expanded at a 7.4% clip in 2014, markets seemed to draw comfort from the fact that the rate of expansi
Read moreFTSE 250 movers: William Hill rises after beating forecasts, Afren damaged by T5 rebuttal
20th Jan 2015 13:58
Full year results from William Hill boosted share prices, as the bookmarker jumped ahead of forecasts despite falling at a fourth quarter hurdle, as football and horse racing results favoured punters. The group was forced to officially distribute the figures at 20:00 on Monday after they were accide
Read moreBroker tips: William Hill, Rio Tinto, IG Group
20th Jan 2015 13:19
Prospects for bookie William Hill are looking up thanks to the company's proprietary, differentiated products and technology, analysts said. On 19 January the bookmaker reported full-year results where operating profits on an EBITA basis were 2% ahead of the consensus forecast at £371m despite custo
Read moreIG Group exposed to risk of further central bank interventions, Canaccord says
20th Jan 2015 11:54
The Swiss central bank last week shocked markets by announcing its decision to remove its three-year old cap on further strengthening in the Swiss franc. The event on 15 January led stockbroker IG Group to incur in £30m of losses which when the company published its latest half-year results, on 20 J
Read moreIG Group's interims impress after record second quarter
20th Jan 2015 08:38
Forex and spread-betting provider IG Group posted a strong set of interim results, though the surprise actions of the Swiss National Bank last week caused a wave of client currency losses that led to a £30m hit on the company and have put this year's final dividend at risk. The London-based group, w
Read moreTuesday preview: IG Group reports half year results
19th Jan 2015 15:21
IG Group reports its first half results amid reports that the spread betting firm took a hit from the Swiss National Bank's (SNB) shock policy decision. The company last week said it faces a £30m of losses after the central bank decided to end a cap on the franc against the euro. The monetary author
Read moreTraders warn of 'carnage' as Saxo Bank says it will amend Swiss franc trades
16th Jan 2015 13:00
Saxo Bank has said it could revisit the rates for transactions conducted after the Swiss National Bank's (SNB) decision to scrap its cap on the franc. The Danish lender, one of the biggest figures in retail foreign exchange trading, said it had filled client orders in an "extremely illiquid market"
Read moreBroker tips: ARM Holdings, Imperial Tobacco, IG Group
16th Jan 2015 11:46
Broker Liberum has reiterated its 'sell' call on chip designer ARM Holdings on the back of rising competition from US rival Intel. "Smartphones and tablets account for circa 75% of ARM's royalty revenue and has been the key driver of royalty growth," Liberum said. "If intel is successful [with produ
Read moreIG Group downgraded by Canaccord after Swiss exchange rate shock
16th Jan 2015 09:29
Canaccord Genuity has downgraded IG Group (IGG) from 'buy' to 'hold' after the spread betting and CFD provider admitted that the shock removal of a currency ceiling in Switzerland on Thursday cost it £30m. The Swiss National Bank (SNB) took global financial markets by surprise after scrapping its cu
Read moreIG says currency losses "not more than £30m" after Swiss franc unpegged
15th Jan 2015 15:41
Spread-betting and CFD provider IG Group rushed out a statement after Switzerland's surprise scrapping of its currency peg against the euro to say the huge swings in the value of the Swiss franc and other currencies to say the impact on its finances would "not exceed £30m". Shares in the company imm
Read moreIG Group on track for record Q2 as client activity picks up
25th Nov 2014 07:33
UK-based CFDs and spreadbetting firm IG Group has experienced a pick-up in activity in recent months and said it is on track to report record quarterly revenues. The company said in September that sales had declined by 9% in its first quarter due to "particularly quiet" financial markets with volume
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