Broker tips: Micro Focus, Persimmon, H&T
23rd Aug 2011 12:55
Following Monday's announcement that signalled the end to bid talks at legacy software firm Micro Focus International, Swiss investment bank UBS has slashed its target price on the stock from 450p to 380p. The broker's previous target price was calculated using an EV/NOPAT multiple of 12 (EV/NOPAT:
Read moreBroker snap: UBS cuts target for Micro Focus
23rd Aug 2011 10:51
Following Monday's announcement that signalled the end to bid talks at legacy software firm Micro Focus International, Swiss investment bank UBS has slashed its target price on the stock from 450p to 380p. After nearly four months of discussion, the firm announced that it had terminated discussions
Read moreLondon close: Higher finish for FTSE 100
22nd Aug 2011 16:35
The FTSE 100 quickly snapped out of its poor start to finish with gains, though these were somewhat off earlier highs following the start of trading on Wall Street. Gold producers such as Randgold Resources and Petropavlovsk were driven higher by rising prices for the precious metal. Oilfield serv
Read moreFTSE 250 Movers: IG does well out of the economic turmoil
22nd Aug 2011 12:16
While creating a headache for most, the recent volatility in stock markets has helped spread-betting firm IG Group achieve record levels of client activity in its first quarter, giving a generous boost to its share price. Despite it being holiday season in the majority of the group's markets, IG e
Read moreLondon midday: Stocks post big gains as miners advance
22nd Aug 2011 12:11
Despite a faltering start, the FTSE 100 is now posting near triple-digit gains with resource stocks in particular posting big gains. A surging gold price, which stands just below the $1,900 level drives FTSE 100 miner Randgold Resources to the top of the pile. Oilfield services group Petrofac was
Read moreLondon open: Randgold leads risers as Footsie gains 0.6%
22nd Aug 2011 08:31
After slipping into the red in the opening minutes, the blue chip index quickly swung into the blue, recovering after the steep sell-off seen late last week. A surging gold price, which stands just below the $1,900 level drove FTSE 100 miner Randgold Resources to the top of the pile. Oilfield serv
Read moreMicro Focus returns to its knitting after bid talks fizzle
22nd Aug 2011 08:03
Micro Focus International, the acquisitive legacy software firm that suddenly found itself in the sights of predators, said it is no longer involved in bid talks. The company received a preliminary bid approach on 26 April, which flushed a number of other interested parties out of the woodwork, pro
Read moreLondon close: Autonomy movement helps limit losses
19th Aug 2011 16:38
Stocks finished in the red heading into the weekend but off their daily lows, having bounced back into the blue from heavy losses earlier on. Today's standout stock was Autonomy rocketed by over 75% in early trading after US computing giant Hewlett-Packard made a recommended offer for the Cambridge
Read moreLondon midday: Lloyds and RBS fall again as FTSE 100 slides
19th Aug 2011 12:03
The leading share index is stuck below the 5,000 point mark amid continuing worries over the global economic situation. Banks Lloyds and RBS are suffering hefty losses again as is IAG, the owner of British Airways. But shares in Autonomy rocketed by over 75% in early trading after US computing gi
Read moreLondon open: Autonomy bucks trend as Footsie tumbles
19th Aug 2011 08:27
The Footsie tumbled over 1% in the opening minutes on Friday, despite a surge by software giant Autonomy. However, Autonomy was just one of the four lone stocks making gains, as the blue chip index looks set to fall below the 5,000 mark. Shares in Autonomy rocketed by over 75% in early trading afte
Read moreLondon close: Stocks slide after short-lived rally
10th Aug 2011 16:43
London's leading share index almost closed back below the 5,000 point mark after giving up a short-lived rally. Euphoria over US plans to keep interest rates at their current low levels was soon overshadowed by the reason for the plans: the grim economic outlook. Here, the Bank of England has cut
Read moreSector movers: Micro Focus provides spark in software sector
10th Aug 2011 14:20
The software and computer services sector was in demand on Wednesday after results and updates from three of its constituents. FTSE 250 legacy software specialist Micro Focus soared after it revealed that it is trading ahead of expectations. The upbeat trading statement made a change from profit wa
Read moreFTSE 250 Movers: Micro Focus is back on the up
10th Aug 2011 12:34
Shareholders in wounded bid target Micro Focus got some good news on Wednesday as the legacy software specialist said it is trading ahead of expectations. The upbeat trading statement makes a change from profit warnings, of which there have been two this year. The profit warnings, along with senior
Read moreLondon midday: FTSE 100 stable for now after gains
10th Aug 2011 12:21
Shares are holding onto most of their gains after rallying on the back of the US Federal Reserve's announcement that rates will stay low for two years. Hopes that this will keep the global economy growing has spurred demand for miners, with big-hitters such as Xstrata and Kazakhmys higher, joined b
Read moreLondon open: Strong start as Footsie climbs back over 5,200
10th Aug 2011 08:32
Just three stocks were in the red early on, as the Footsie attempted to claw its way back after a week of turmoil in global markets. The US Federal Reserve last night pledged to freeze short-term US interest rates for two years and opened the door to more quantitative easing, in an attempt to resto
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