Broker tips: Anglo American, BHP Billiton, BG Group, Burberry, IHG
9th Apr 2015 12:24
Shares in UK listed mining giants BHP Billiton and Anglo American slumped on Thursday after two investment banks downgraded their ratings on both companies. Credit Suisse and Investec Securities both downgraded BHP Billiton with the former now at 'sell' versus 'hold' while the latter at 'underperfor
Read moreThursday broker round-up
9th Apr 2015 11:58
Marks&Spencer: Cannacord Genuity reiterates hold and tweaks price target to 530p from 525p. Antofagasta: Credit Suisse reiterates neutral stance with a 710p target. BG Group: Citigroup reiterates buy and lifts target to 1,332p. Robert Walters: Credit Suisse reiterates outperform and improves targe
Read moreLondon midday: Stocks advance as M&A speculation boosts Burberry and IHG
9th Apr 2015 11:39
UK stocks advanced on Thursday despite some mixed economic data, as ongoing M&A speculation and easing concerns about Greece drove markets higher. London's FTSE 100 was up 0.76% at 6,989.91 by noon despite weakness in the heavyweight mining sector, as bid hopes boosted stocks such as Burberry and In
Read moreIntercontinental Hotels shares rally after Jefferies raises to 'hold' on M&A expectations
9th Apr 2015 10:06
Shares in Holiday Inn owner Intercontinental Hotels Group (IHG) shot up 1.8% to 2,717p after US broker Jefferies raised its rating on the stock to 'hold' as it sees the company as a potential takeover candidate. The broker thinks mergers and acquisitions are set to return in the hotel industry as gr
Read moreLondon open: Miners fall, but UK markets track US and Hong Kong stocks higher
9th Apr 2015 08:57
UK stocks advanced on Thursday morning following a decent performance on Wall Street and Hong Kong indices overnight. Reports that Greece will meet Thursday's deadline to pay back a €450m loan payment to the International Monetary Fund were also helping sentiment. "The payment has been scheduled and
Read moreLondon open: Grexit fears hit UK stocks, IHG underwhelms
17th Feb 2015 08:26
UK stocks slipped on Tuesday morning on the back of concerns about a 'Grexit' as another Eurogroup meeting about Greece ended with no agreement. London's FTSE 100 was down 0.2% at 6,841 early on with Intercontinental Hotels Group (IHG) leading the decline after its annual results. A meeting of Euro
Read moreLondon pre-open: Failed Greek talks to hit stocks early on
17th Feb 2015 07:41
UK stocks were expected to fall on Tuesday morning, as heightened concerns about a Greek exit from the Eurozone dampen sentiment. City sources predict the FTSE 100 will open 20 points lower than Monday's close of 6,857.05. A meeting of Eurozone finance ministers on Monday ended early with no agreem
Read moreIHG beats forecasts for 2014 after strong US RevPAR performance
17th Feb 2015 07:03
Intercontinental Hotels Group (IHG) managed to narrowly beat analysts' forecasts with a smaller-than-expected decline in annual profits, as it predicted a "continued strong performance" in 2015. The Crowne Plaza and Holiday Inn operator said reported operating profit for 2014 totalled $651m, down 3%
Read moreLondon pre-open: UK stocks to inch higher after heavy sell-off
16th Dec 2014 07:37
News that the Bank of England (BoE) has given a clean bill of health to seven out of eight of the UK's largest banks and building societies may offer some respite for financial markets on Tuesday, though sentiment is likely to still be fragile after an eye-watering sell-off the previous session. Cit
Read moreIntercontinental Hotels buys boutique hotel operator for $430m
16th Dec 2014 07:25
Intercontinental Hotels is buying independent boutique hotel operator Kimpton Hotels & Restaurants for $430m in cash. Kimpton manages 62 hotels in the most attractive cities and resorts in the US with a further 16 hotels in the pipeline, as well as running 71 hotel-based destination restaurants and
Read moreFTSE 100 movers: Brent crude price crash hits oil and gas stocks
8th Dec 2014 14:29
Shell registered losses as the price of Brent crude dropped to its lowest in five years. Brent touched a low of $66.77 on Monday, its worst intraday level since October 2009. Morgan Stanley lowered its forecast for the average price of Brent oil in 2015 to $70 from $98, expecting it to trough in the
Read moreLondon pre-open: FTSE to open with little change after Asian data
8th Dec 2014 07:42
Little change is expected on the FTSE 100 at Monday's opening bell, following weakness in Asia overnight. City sources predict the top tier index will open just two points higher than Friday's close of 6,742.84. "Disappointing data from China and Japan is weighing on European futures ahead of the o
Read moreIHG accepts £261m offer for Le Grand building in Paris
8th Dec 2014 07:06
Global hotels operator Intercontinental Hotels Group (IHG) has accepted a €330m (£261m) offer for its Le Grand building in Paris. The company said it will use the proceeds for "general corporate purposes". As previously announced in August, Constellation Hotels France Grand, part of the Constellati
Read moreLondon close: Shares drop amid falling oil prices and economic woe
1st Dec 2014 17:11
Falling oil prices and downbeat manufacturing data in continental Europe sent London shares into reverse on Monday. The price of a barrel of Brent crude leaked more than 10% and US light crude was off 11% just after the close in London as Middle East and US oil chiefs continued their stand-off over
Read moreBroker tips: Oil stocks, IHG, Vodafone, Balfour Beatty
1st Dec 2014 12:30
A continued drop in oil prices was weighing heavily on the exploration and production sector again on Monday, with stocks dampened further after a number of ratings downgrades by US broker JPMorgan Cazenove. The bank has cut its recommendations for UK-listed Afren (from 'overweight' to 'underweight'
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