Broker tips: Kingfisher, Rio Tinto, Wolseley
30th Nov 2012 11:15
UBS has lowered its rating for B&Q and Screwfix owner Kingfisher from 'buy' to 'neutral' and reduced its target price from 300p to 290p, citing near-term risks. The broker said: "In most markets DIY demand remains depressed by a mix of low consumer confidence and weak housing markets, affecting big
Read moreBroker snap: UBS downgrades Kingfisher to 'neutral'
30th Nov 2012 09:49
UBS has lowered its rating for B&Q and Screwfix owner Kingfisher from 'buy' to 'neutral' and reduced its target price from 300p to 290p, citing near-term risks. The company reported yesterday that third-quarter retail profit came in at £257m, down 6% year-on-year and worse than the £265m that UBS w
Read moreLondon open: Stocks unchanged on 'fiscal cliff' developments
30th Nov 2012 08:21
The FTSE 100 opened flat on Friday morning as investors showed caution following some mixed comments from US politicians regarding the 'fiscal cliff'. Markus Huber, head of German HNW trading at ETX Capital, said: "European equities are trading little changed this morning despite less encouraging n
Read moreFriday broker round-up UPDATE
30th Nov 2012 07:24
Aggreko: Berenberg initiates with a target price of 2010p and a hold recommendation. APR Energy: Berenberg starts with a target price of 610p and a sell recommendation. Babcock International Group: Berenberg initiates with a target price of 1180p and a buy recommendation. Barclays: UBS raises tar
Read moreLondon close: Miners surge on US hopes
29th Nov 2012 16:39
- US GDP and housing data boosts stocks - 'Fiscal cliff' concerns ease after politicians' comments - Mining stocks rise on demand hopes Hopes about the US economy were driving gains on Thursday as investors reacted positively to comments from politicians about the 'fiscal cliff' and decent economic
Read moreFTSE 100 movers: Miners lead the way
29th Nov 2012 15:39
Rio Tinto was among the best performers on Thursday after Chief Executive Tom Albanese boasted at an investors seminar that the company was 'very well positioned despite the challenging global environment'. The company said it is targeting five billion dollars of cost savings by the end of 2014 as
Read moreLondon midday: Stocks rise after 'optimistic' comments on 'fiscal cliff'
29th Nov 2012 11:41
Hopes that the US can avert the impending 'fiscal cliff' were helping markets register decent gains on Thursday morning, following comments from policy-makers Stateside yesterday. US Republican Speaker of the House John Boehner said that he was "optimistic that we can continue to work together to a
Read moreLondon open: Stocks gain on US budget hopes
29th Nov 2012 08:22
UK equities opened strongly on Thursday morning with mining stocks leading the risers on the back of optimism that US policy-makers will eventually agree on a deal to avert the 'fiscal cliff'. "European equities are trading higher this morning managing to extend yesterday's afternoon late turnaroun
Read moreKingfisher aided by international business - UPDATE
29th Nov 2012 07:04
DIY group Kingfisher saw revenue and profit creep up in the third quarter, as the company was boosted by sales in its new international territories, such as Russia. Revenue was up 0.8% at constant currency to £2.7bn, while retail profits on the same basis sneaked up 0.1%. However, overall, like-fo
Read moreWeek ahead: Severn Trent, United Utilities, Kingfisher
23rd Nov 2012 09:32
Next week will see traders return to their desks in full-force following the long Thanksgiving Day holiday in the United States. Foremost on their minds will be two things, the most recent survey data for US retailers out over this past weekend and Monday evening's meeting of Eurozone finance minist
Read moreBroker tips: SABMiller, Johnson Matthey, Kingfisher
22nd Nov 2012 10:53
Jefferies has reiterated its 'buy' rating and 2,990p target price for drinks group SABMiller after a better-than-expected first half. The broker said: "The flat share price performance of SABMiller since the trading update in October has seen its peers catch up in terms of valuation with the compan
Read moreBroker snap: Panmure upbeat about long-term outlook for Kingfisher
22nd Nov 2012 10:51
Third-quarter profits at B&Q and Screwfix owner Kingfisher are expected to fall when its reports next Thursday but Panmure Gordon remained upbeat today with a 'buy' rating and 350p target price. The broker expects like-for-like sales to fall across the board in the third quarter. As for the bottom
Read moreLondon close: Stocks hold on to gains despite Eurozone uncertainty
15th Oct 2012 16:25
-Chinese data and US figures lift sentiment -All eyes on Spain and Greece ahead of EU summit -Citi economist predicts 'Grexit' -Spanish 10 year bond yields rise 19bp to 5.82 per cent -Greek 10 year bond yields fall 48bp to 17.56 per cent London's FTSE 100 index finished the day in positive territor
Read moreLondon midday: Banking stocks gain, yet Footsie falls
10th Oct 2012 11:32
- IMF warns about Eurozone crisis - Unions call for strikes in Greece - Banks gain on speculation of eased capital rules UK stocks suffered more losses on Wednesday in spite of some relative strength in the banking sector, as the International Monetary Fund (IMF) warned about the risks emanating f
Read moreLondon open: Stocks fall on growth concerns again
10th Oct 2012 08:45
- Growth concerns take down stocks again - Alcoa trims demand forecast - Banks could need to shrink assets, says IMF The FTSE 100 was heading for its third consecutive day in the red, starting Wednesday's session on the back foot with global growth concerns continuing to weigh on sentiment. Trader
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