SocGen cuts IMI price target but remains positive on stock
7th May 2015 15:13
Societe Generale reduced its price target on IMI to 1450p from1550p Thursday to factor in an earnings cut following the company's first quarter results. The bank downgraded its 2015 and 2016 EPS estimates to 74.5p from 81.1p and 84.6p from 92p, respectively, to reflect the first quarter trends, revi
Read moreIMI shares fall as it posts drop in organic revenue; warns on full year
7th May 2015 08:10
Shares in British engineering company IMI fell sharply on Thursday after it reported a 4% drop in first-quarter organic revenue, partly as a result of sterling strength against the euro. It said that market conditions have continued to be challenging and based on the performance year to date, organi
Read moreIMI profits hit by weak European demand and currency headwinds
27th Feb 2015 10:02
Engineer IMI said a strategic review and challenging market conditions weighed on its full year pre-tax profit but said it was already starting to see benefits from its new strategic plan. The FTSE 250 group posted a pre-tax profit of £245.7m in 2014, down 1.44% year-on-year, while revenue fell 2.87
Read moreLondon midday: UK stocks back in the red ahead of Fed meeting
17th Dec 2014 12:18
UK stocks were back in the red on Wednesday after their first gain in seven days the previous session, with investors scaling back risk appetite ahead of a number of risk events. Along with a host of economic data due out during the session, markets were keeping an eye out for minutes for the latest
Read moreLondon open: UK stocks drop early on as investors await risk events
17th Dec 2014 08:21
UK stocks dropped sharply on Wednesday morning as the sell-off resumed ahead of a busy session for global financial markets. The FTSE 100 was down 0.8% at 6,284 early on. The index had jumped 2.4% the previous session, snapping a six-day losing streak, as West Texas Intermediate crude futures rebou
Read moreBarratt Developments and Taylor Wimpey set to join Footsie
4th Dec 2014 08:53
Overnight FTSE announced the results of its quarterly review of the constituents for its UK index series. IMI and Petrofac are to leave the top flight index, with Barratt Developments and Taylor Wimpey set to take their place. Meanwhile, and on the FTSE 250, Barratt Developments, Taylor Wimpey,
Read moreThursday broker round-up
27th Nov 2014 10:15
Amlin: Numis upgrades to 'buy' with a target price of 535p. Amerisur Resources: PeelHunt lowers target price from 58p to 50p and reiterates a 'hold' recommendation. Associated British Foods: Citi raises target price from 3100p to 3700p and maintains its 'buy' recommendation. Avingtrans: FinnCap up
Read moreBroker tips: Pub companies, IMI, National Grid
19th Nov 2014 12:30
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. "If this passes through the House of Lords and becomes law, this coul
Read moreLiberum downgrades IMI to 'hold' on challenging outlook
19th Nov 2014 10:07
Analysts at broker Liberum have cut their rating for engineering group IMI from 'buy' to 'hold' on the back of a "challenging near-term outlook". They predict that the stock will "tread water" in the near term and have slashed their target for the shares from 1,650p to 1,350p. Last week, IMI releas
Read moreSector movers: Industrial engineers Weir, IMI and Fenner continue to slide
17th Nov 2014 16:30
The industrial engineering sector extended Friday's decline with Weir Group, IMI and Fenner all registering heavy losses. Weir Group dropped after Exane BNP Paribas downgraded the stock to "underperform" from "outperform" and cit its target price to from 2,400p to 1,835p. Fenner lost more than 7% a
Read moreFTSE 100 movers: Broker comment provides drag
17th Nov 2014 15:57
Standard Chartered dropped into the red after Canaccord Genuity reiterated its 'sell' rating and lowered its target price to 850p from 1,000p. Tesco declined after Goldman Sachs stuck with its 'sell' rating on the stock and shrunk its target price cut to 155p from 250p. Credit Suisse and JP Morgan
Read moreMonday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read moreSector movers: Rotork and Castings drag engineers lower, IMI subdued
14th Nov 2014 14:06
Industrial engineering stocks were out of favour on Friday after Rotork and Castings disappointed with results and the market gave a muted reaction to a trading update from sector peer IMI. Rotork, the actuator manufacturing and flow-control company, saw shares drop 3.8% at 2,404p in afternoon trade
Read moreLondon midday: UK stocks pull back from six-week high despite upbeat Eurozone data
14th Nov 2014 11:28
Mining and oil shares were leading the UK stock market lower on Friday as commodity prices weakened, with the FTSE 100 pulling back after hitting its highest level in a month and a half. Nevertheless, losses were only modest in London, with sentiment supported by some reassuring growth figures from
Read moreLondon pre-open: Slight rise expected on FTSE ahead of European data
14th Nov 2014 07:32
The final session of the week is set to kick-off with limited gains ahead of important data out from Europe. City sources predict the FTSE 100 will open around 11 points higher than Thursday's close of 6,635.45. Friday's session will see the release of Eurozone gross domestic product (GDP) amid con
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