UPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreLondon open: Early dive for FTSE 100
22nd Sep 2011 08:28
Stocks have come in for heavy selling in early dealings after the US Federal Reserve yesterday painted a gloomy picture of the growth prospects for the world's largest economy. "Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow,"
Read moreLondon pre-open: Tin hats at the ready
22nd Sep 2011 07:18
Traders are strapping on their tin hats in expectation of a barrage of sell orders after the US Federal Reserve yesterday painted a gloomy picture of the growth prospects for the world's largest economy. "Information received since the Federal Open Market Committee met in August indicates that econ
Read moreLegal & General chief executive stands down
22nd Sep 2011 07:13
Tim Breedon, chief executive of the insurance group Legal & General, is to retire from the company at the end of next year. Breedon, who is chairman of the Association of British Insurers, took up his current post at the start of 2006. "It has been an absolute privilege to lead Legal & General, b
Read moreBroker tips: Legal & General, Drax, Polo Resources
21st Sep 2011 12:22
Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreLondon midday: Stocks stuck lower ahead of Greek announcement
21st Sep 2011 12:02
The top share index remains a few points in the red, with all eyes on Greece ahead of the sticken Eurozone member's announcement of austerity measures. Greece's foreign minister Stavros Lambrinidis has assured that the country will stay in the euro and not default. "For the past year and a half I'
Read moreUPDATE: Wednesday broker round-up
21st Sep 2011 08:52
Inmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read moreLondon open: Greek worries drag down market early on
21st Sep 2011 08:34
Markets opened lower on Wednesday morning on the back of ongoing concerns over the Eurozone, despite a Greek official assuring that the country will not default. Meanwhile, investors in London await the release of the policy rate decision from the Bank of England's Monetary Policy Committee (MPC) du
Read moreBroker snap: UBS slashes target for Legal & General
21st Sep 2011 08:23
Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreThursday tips round-up: Rightmove, Legal &General, Taylor Wimpey
4th Aug 2011 06:49
The phenomenon that is Rightmove chalked up another rock-solid performance in the six months to June. The online property advertising platform seems unstoppable. The shares are a strong hold, even on a gloomy view of the economy and the housing market. Investors of a more sunny disposition should bu
Read moreLondon close: ARM and Imagination Technologies lead the slide
3rd Aug 2011 16:40
Stocks were posting triple-digit losses at the finish, with the FTSE 100 at its lowest closing level for the year so far as worries over global growth intensified. Things got worse after a poor start in the US, where yesterday's deficit-cutting agreement among politicians has done little to assuage
Read moreBroker snap: Legal & General's valuation 'compelling', says Nomura
3rd Aug 2011 16:32
Nomura has kept its buy rating and 180p target price on insurer Legal & General, saying that its valuation remains "compelling". The firm reported on Wednesday that net cash earnings grew by 14% to £427m, driven by its 'capital light' operations with 30% growth in investment management and a 53% im
Read moreLegal & General hikes divi by 25%
3rd Aug 2011 09:10
Insurance group Legal & General upped its dividend by a quarter in the first half, despite recording a £64m fall in pre-tax profits. Shares fell 1.73% lower to 107.80p at 09:54 on Wednesday morning. The firm paid out £97m to investors by way of an interim dividend, which was raised by 25% from 1.3
Read moreWednesday preview: Standard Chartered, GKN, L&G ...
2nd Aug 2011 17:17
Banks results season continues with emerging markets-focused Standard Chartered shuffling into the spotlight on Wednesday at the unholy time of 5:30am (London time). Japanese broker Nomura - quite possibly the only broker likely to be awake when the figures come out - predicts first half profit bef
Read moreFTSE 100 movers: Financials mixed as investor lock in profits
22nd Jul 2011 14:18
The financial sector was mixed on Friday, despite rising strongly early on following yesterday's Eurozone deal to bailout Greece. Shares soared on Thursday after the region's leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. While RBS bucked the tre
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