London close: Stocks rise as euro leaders boost firewall
30th Mar 2012 16:32
- Eurozone to boost firewall to 800bn euros - Spain cuts 27bn euros from the budget - Petrofac up after broker comments, Shire leads the fallers London's blue chip index finished the day strongly after Eurozone leaders agreed to strengthen the firewall to protect the debt crisis from spreading. Som
Read moreFTSE 100 movers: Engineering firms on the rise
30th Mar 2012 14:43
Industrial engineers were on the rise, with Weir leading the way in the top spot. Sector peer GKN was a high riser with stock broker Jefferies saying that it believes Volvo Aero would be a "good fit" with GKN Aerospace. "It appears the suggestion GKN might partly fund its acquisition with new equi
Read moreLondon midday: Stocks rise as eyes turn to Eurozone meeting
30th Mar 2012 11:42
- Investors keep a close eye on meeting in Copenhagen - Eurozone inflation falls but still high - Miners lead the rise by lunchtime The Footsie was making decent gains by Friday lunchtime, snapping a three-day losing streak, as Eurozone ministers meet in Copenhagen to discuss a potential increase i
Read moreBroker tips: Legal&General, IMI, Compass
15th Mar 2012 12:33
Nomura has today raised its target price on Legal&General to 182p from 180p, adding that they continue to be buyers. They begin their research note by calling attention to the success of its so-called ´capital-light strategy´ at growing its asset management and unit-linked savings business, which
Read moreBroker snap: Credit Suisse less wary towards Europe, and IMI
15th Mar 2012 12:04
Broker Credit Suisse has today lifted its target price on shares of engineering group IMI significantly, to 930p from 740p previously. That on a more stable outlook for Europe than it had assumed, which has led it to increase its forecasts for adjusted earnings before interest and tax by 12.2% and
Read moreBroker tips: IMI, Misys, Amlin
5th Mar 2012 11:21
UBS has raised its target price for FTSE 100 engineer IMI but maintained its neutral rating, saying that the group is improving margins at the expense of growth. With macro concerns easing, UBS says that the company is now past the threat of a big volume drop. While the organic growth rate remains
Read moreBroker snap: UBS cautious on growth prospects for IMI
5th Mar 2012 09:16
UBS has raised its target price for FTSE 100 engineer IMI but maintained its neutral rating, saying that the group is improving margins at the expense of growth. On Friday, IMI revealed a solid finish to 2011 "with no marked deterioration in November/December". Results beat expectations but were h
Read moreMonday broker round-up - UPDATE
5th Mar 2012 09:03
Weir: Citi cuts to sell from neutral, shaves target to 1,850p from 1,950p. Morrison: Oriel downgrades to sell from reduce. Tesco: Oriel downgrades to reduce from hold. Sainsbury: Oriel downgrades to hold from add. Serco: Bank of America downgrades to neutral from buy. Afren: Credit Suisse rais
Read moreLondon close: Footsie falls, banks rise but miners provide a drag
2nd Mar 2012 16:33
- Kazakhmys drops after broker downgrades. - Banks jumps after Goldman comments. - Eurogroup releases 58bn euros but delays full Greek bailout. - 25 EU members sign fiscal pact. The FTSE 100 fell close to its lowest levels of the day on Friday as Eurozone concerns continued to dampen the mood. A
Read moreFTSE 100 movers: Int'l Power up on Indonesian agreement
2nd Mar 2012 14:02
Electricity group International Power (IPR) raced into the top spot after itself and French utilities firm GDF SUEZ (which owns 70 percent of IPR) announced that IPR-GDF SUEZ Asia has signed 30-year power purchase agreements (PPAs) for two 220MW geothermal projects with the Indonesia state-owned uti
Read moreLondon midday: Eurozone concerns continue to weigh on stock
2nd Mar 2012 11:50
- Eurogroup releases 58bn euros but delays full Greek bailout. - Banks park record amount in ECB overnight. - International Power rises on Indonesian deal. - Goldman upgrades banks, utilities. The FTSE 100 was still trading slightly lower by lunchtime, with all eyes on the Eurozone. European leade
Read moreFriday broker round-up - UPDATE
2nd Mar 2012 09:28
Man Group: UBS raises target from 160p to 165p, buy rating unchanged. WPP: UBS ups target from 840p to 920p, buy rating kept. Standard Chartered: AlphaValue downgrades from reduce to sell, price target upped from 1,413.8p to 1,425.9p. IMI: Panmure Gordon keeps buy rating and 1,020p target. Cairn
Read moreLondon open: Footsie flat after Eurogroup delays full Greek bailout
2nd Mar 2012 08:33
- Eurogroup releases 58bn euros but delays full Greek bailout. - ECB 'reasonably satisfied' with LTRO - International Power rises on Indonesian deal. The Footsie opened flat in early trading on Friday on news that European leaders have delayed the decision to fully bail out Greece for another 10 da
Read moreLondon pre-open: LTRO sparks slight rise in FTSE opening
2nd Mar 2012 07:32
City sources predict the FTSE 100 will open slightly higher, up five points from yesterday's close of 3,931, as the European Central Bank's long term refinancing offer (LTRO) soothed investor jitters. Mario Draghi, ECB President, has said the bank is "reasonably satisfied" with the €529.5bn in cheap
Read moreIMI sees double-digit growth in sales, profits - UPDATE
2nd Mar 2012 07:20
Engineering group IMI has raised its full-year dividend by 15 percent after seeing double-digit growth in both revenues and adjusted profits in 2011. During the 12 months ended December 31st, revenue jumped 12% from £1,911m to £2,131m, ahead of expectations of £2,120bn. On an organic basis, adjuste
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