Intertek suffers mixed conditions ahead of CEO departure
15th May 2015 07:45
Product testing and quality certification group Intertek said it traded in line with expectations in the first four months of 2015 amid continued weakness in oil, gas and minerals spending but good growth elsewhere. The company, whose chief executive officer Wolfhart Hauser will step down from the b
Read moreInterserve JV wins Rotherham biomass plant construction deal
12th Mar 2015 09:48
Interserve has won a £150m contract by the Brite Partnership North East to build a biomass-fired power plant in Rotherham, as part of joint venture. Interserve said its portion of the project will be worth roughly £50m. Work on the plant is expected to begin in the coming weeks, with the facility e
Read moreWednesday broker round-up
4th Mar 2015 10:16
Electrocomponents: Peel Hunt takes up to a buy. Pearson: Morgan Stanley keeps at overweight, target reiterated at 1,500p. StanChart: Shore Capital stays at buy. Moneysupermarket: UBS lifts to buy, raises target to 260p from 240p. Rightmove: Citi raises to neutral. Barclays: Deutsche keeps at buy
Read moreTuesday tips round-up: Rio Tinto, Intertek
3rd Mar 2015 17:46
It's cheap and dirty - coal, that is. It has also become increasingly less profitable as the price has continued to decline. Since spring 2011 it has nearly halved. In fact, in the case of Australian mining group Rio Tinto, and at the current market price of $62 a tonne, it is no longer profitable t
Read moreTuesday broker round-up
3rd Mar 2015 16:59
St. James's Place: Morgan Stanley ups target to 1,097p from 963p while reiterating overweight stance. AO World: Cannacord Genuity lowers target to 170p from 220p and reiterates hold. British American Tobacco: Jefferies raises target to 4,440p from 4,140p and reiterates buy. Kaz Minerals: Exane BNP
Read moreLondon close: Mixed data, weak earnings pull FTSE below 6,900
3rd Mar 2015 16:33
A mixed batch of economic data and weak corporate earnings gave investors the excuse to take profits on Tuesday, as markets continued to retreat from their recent record highs. London's FTSE 100, which had started the day in positive territory, swung sharply into the red by mid-morning and extended
Read moreFTSE 100 movers: Barclays and Glencore fall after annual results, Taylor Wimpey higher
3rd Mar 2015 13:44
Shares in Barclays fell after the bank set aside a total of £1.25bn for provisions to cover litigation costs related to ongoing probes into mis-selling PPI and rigging foreign exchange rates. The news came as Barclays reported a pre-tax loss of £532m for the fourth quarter. Commodities trader and mi
Read moreBroker tips: Barclays, Travis Perkins, Intertek, Kingfisher, Consumer staples
3rd Mar 2015 11:51
A handful of brokerages continue to rate Barclays stock as 'buy' despite Tuesday's results from the bank that contain a huge increase in provisions to cover the costs of legal fees relating to scandals. Despite concerns in the market that rising litigation costs could dent the group's profitability
Read moreIntertek shares drop as HSBC cuts the stock to neutral
3rd Mar 2015 10:33
Testing services firm Intertek, had its rating cut to neutral by HSBC on Tuesday, a day after the company released full-year 2014 earnings. In its annual results, the group reported pre-tax profits falling 10.5% to £252.2mn amid challenging conditions at its oil and gas unit and a stronger pound. H
Read moreLondon close: FTSE pulls back from record as miners dip into the red
2nd Mar 2015 16:37
UK stocks inched lower on Monday after hitting a new intraday record high during the session as markets were underwhelmed by a raft of positive manufacturing data and a rate cut in China. London's FTSE 100, which rose to a new all-time peak of 6,974.26 early on, finished 6.02 points lower (-0.09%) a
Read moreFTSE 100 movers: Banks rebound, British Land boosted by acquisition
2nd Mar 2015 13:18
Banking stocks such as Barclays and RBS topped the risers as share prices rebounded after a weak outing last week following some poorly-received annual results. 2014 figures from Barclays, the last UK lender to report, are due out on Tuesday. Intertek, the product testing and certification outfit, w
Read moreLondon midday: Investors take profits after FTSE hits fresh intraday record
2nd Mar 2015 11:41
After a bright start, UK stocks dropped into the red by Monday lunchtime as investors assessed a raft of economic data and took profits after markets reached new record highs. The FTSE 100 was down 0.01% at 6,945.68 by midday, erasing gains after rising to a new intraday all-time high of 6,974.26 in
Read moreLondon open: UK stocks hit new record high on China rate cut
2nd Mar 2015 08:52
UK stocks rose modestly to a new record high on Monday morning on the back of gains in the banking and mining sectors, tracking a strong performance on Asian markets overnight after a rate cut in China. The FTSE 100 was up 0.3% at 6,969.46 within the opening hour, having risen as high as 6,972.01 in
Read moreLondon pre-open: Flat start expected after PBoC rate cut, investors await data
2nd Mar 2015 07:39
UK stocks were expected to open broadly flat on Monday ahead of a raft of economic data, with investors continuing to act cautiously with markets near all-time highs. City sources predict the FTSE 100 will open a few points lower than Friday's close of 6,946.66. The index set a new intraday record
Read moreFX and resources weakness hits Intertek but improvement expected in 2015
2nd Mar 2015 07:05
Product testing and certification group Intertek said results were dampened by currency movements and headwinds in the natural resources sectors in 2014, though it was still able to lift its dividend. Pre-tax profits were down 4.7% at actual foreign exchange (FX) rates to £300.2m, but would have bee
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