Broker tips: Weir, Home Retail, Kingfisher
4th Aug 2009 12:21
Weir Group's prediction that it will achieve profits at the upper end of its previous guidance has cheered KBC Peel Hunt and the broker lifts its price target on the engineer to 690p from 550p. Weir's cheery outlook came as it posted a 12% rise in both pre-tax profits and revenues, helped by a stro
Read moreBroker snap: Kingfisher set to take off
4th Aug 2009 11:59
Kingfisher is being returned to health and could offer more surprises over the next year, according to Singer Capital Markets in its latest review of the B&Q owner. The broker raises its price target on the stock to 235p from 215p and keeps its 'buy' rating. Singer is particularly impressed with t
Read moreFriday tips round-up: Kingfisher, Colt Telecom, Capita
24th Jul 2009 06:44
Kingfisher issued its second-quarter trading update yesterday, topping most analysts' expectations. With the Office for National Statistics also saying yesterday that retail sales rose in June, the group should be feeling confident about the rest of the year. Kingfisher probably deserves a small pr
Read moreLondon close: US surge extends Footsie's winning streak
23rd Jul 2009 16:32
Footsie's winning streak extended to nine days as US markets surged ahead on better than expected June home sales and forecast-busting results from a number of US household names. Trading had been quiet up until mid-afternoon, but as soon as the US markets started to pick up buyers returned in earn
Read moreLondon afternoon: Footsie regains 4,500
23rd Jul 2009 13:46
The Footsie's eight day winning streak looks set to become nine days as the blue chip index hit 4,500 again amid more gains for US stocks. On the positive side, miners Fresnillo, Kazakhmys, Vedanta Resources, Rio Tinto, BHP Billiton, ENRC, Xstrata and Lonmin are all among the top ten risers on hope
Read moreLondon midday: OfWat report dilutes equity strength
23rd Jul 2009 11:54
The Footsie's eight day winning streak is in danger of coming to an end today as utility companies weigh down the blue-chip index after water regulator Ofwat outlined proposals for lower water bills. The water regulator's draft proposals would see the average annual water bill fall by £14 to £330 b
Read moreLondon open: Water groups fall
23rd Jul 2009 08:17
London's top stocks have opened slightly lower, with utilities among the main fallers after Ofwat called for lower water bills. The water regulator outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities is leading the fa
Read moreKingfisher cheers DIY trend
23rd Jul 2009 07:36
Kingfisher reported a 0.7% rise in like for like sales at B&Q in the UK, thanks to a growing trend for home and garden DIY. Total group sales rose 1% in constant currencies in the 10 weeks to 11 July, but fell 2% on a like-for-like basis. In the UK, B&Q total sales grew 1.5% as sales of core DIY
Read moreThursday preview: Kingfisher, Capita, Compass
22nd Jul 2009 16:10
Thursday looks like being the busiest day of the week with three FTSE 100 companies making announcements plus updates from some second liners recently demoted from the blue-chip index. B&Q owner Kingfisher said at the beginning of June that favourable weather had boosted outdoor seasonal product sa
Read moreLondon close: Footsie closes flat
18th Jun 2009 16:34
A late afternoon rally fizzled out to leave Footsie little changed after a volatile day. Economic stories dominated the news with mixed data in the UK offset by better than expected intial jobless figures in the US. UK mortgage lending eased in May from the month before and was 58% lower than the
Read moreLondon afternoon: US rally lifts Footsie
18th Jun 2009 15:03
Better than expected US dole queue figures have lifted Footsie in the afternoon session, despite very mixed economic data here at home. Mortgage lending eased in May from the month before and was 58% lower than the same time last year, figures showed today. The Council of Mortgage Lenders (CML) s
Read moreLondon midday: Economic data knocks retailers
18th Jun 2009 12:02
Leading shares drift lower after disappointing retail sales and weaker mortgage lending in May. The economic data proved to be a double-whammy for DIY retailers Home Retail and Kingfisher, which feature prominently among the main fallers. Elsewhere in the retail sector fashion chain Next and Currys
Read moreTechnical Analysis: Retailers paring gains
15th Jun 2009 14:09
Last week's disappointing retail sales figures for May which showed a 0.8% dip in like for like sales, has prompted some profit-taking in the general retail sector after several months of significant gains. The sector has had a good run since the beginning of the year, rising over 40%, however it
Read moreThursday preview: Home Retail, US retail sales
10th Jun 2009 17:06
The market is expecting good news from Homebase and Argos owner Home Retail Group on Thursday when it gives a trading update, after fellow DIY retailer Kingfisher produced surprisingly strong first quarter figures last week. Reading across from Kingfisher's results, which included doubled profit at
Read moreLondon close: Late rally not enough
2nd Jun 2009 16:46
A rally in the afternoon session was not enough to lift the Footsie out of negative territory, though second-liners were moderately firmer on balance. Bank Barclays was the day’s worst performing blue-chip after news of the sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC,
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