Wednesday broker round-up UPDATE
6th Aug 2014 10:20
Aggreko: Jefferies raises target price from 1800p to 2000p and keeps a buy recommendation. Investec ups target price from 1650p to 1700p and leaves its hold recommendation unchanged. Avingtrans: FinnCap cuts target price from 170p to 155p downgrading from buy to hold. Aviva: Jefferies initiates wi
Read moreInvestec downgrades Meggitt after "rough landing" in H1
6th Aug 2014 10:11
Investec has downgraded its rating for aerospace engineer Meggitt from 'add' to 'hold' and slashed its target price from 530p to 480p "following a rough landing in the first half". Lower military sales, the deferral of revenues at heat-exchanger business Heatric and a larger currency headwind have
Read moreFTSE 100 movers: Meggitt disappoints with falling profits, airlines drop
5th Aug 2014 14:50
Shares in Meggitt dropped sharply after it said profits dropped in the first half, reflecting the impact of currency headwinds and disposals on revenue. Underlying pre-tax profit sank 21% to £143.8m, well below analysts' forecasts. Airline peers IAG and Easyjet were reeling in afternoon trade on ru
Read moreBroker tips: Royal Mail, Meggitt, Intertek, Imagination
5th Aug 2014 12:43
Royal Mail Group's (RMG) stock was dented on Tuesday by comments from Credit Suisse, which said it sees "no near-term positive catalysts" for the postal company. The bank slashed its target price for the shares from 460p to 360p as it kept an 'underperform' recommendation, saying that RMG's margin
Read moreLondon midday: UK stocks bounce despite mixed earnings
5th Aug 2014 11:57
- Aggreko, Standard Life, Old Mutual rise after results - Meggitt, IHG and Fresnillo disappoint - UK services PMI, Eurozone retail sales beat forecasts - Chinese services PMI drops to key 50-point mark techMARK 2,734.64 -0.25% FTSE 100 6,702.33 +0.37% FTSE 250 15,370.24 +0.05% UK stocks advanced o
Read moreTuesday broker round-up UPDATE
5th Aug 2014 11:02
Acal: FinnCap initiates with a target price of 322p and a buy recommendation. Afren: UBS reduces target price from 200p to 135p and stays with its buy recommendation. Aggreko: WH Ireland ups target price from 1800p to 1850p and stays with a buy recommendation. Alent: Numis increases target price
Read moreInvestec puts Meggitt rating under review after profit shortfall in H1
5th Aug 2014 11:01
Earnings downgrades for Meggitt are likely, according to Investec, which put its rating for the stock under review following a worse-than-expected first half from the aerospace engineer. The company said on Tuesday that underlying pre-tax profits were down 21% in the first half at £143.8m, well bel
Read moreLondon open: Stocks snap four-day losing streak despite weak Chinese data
5th Aug 2014 09:07
- Aggreko, Standard Life and Old Mutual impress with results - Meggitt, IHG and Fresnillo disappoint - Chinese services sector stagnates techMARK 2,742.52 +0.04% FTSE 100 6,708.32 +0.46% FTSE 250 15,415.40 +0.34% Strong gains from Aggreko, Standard Life and Old Mutual helped the FTSE 100 higher on
Read moreMeggitt's first-half profit falls on currency headwinds, disposals
5th Aug 2014 09:05
Engineer Meggitt reported a drop in first-half profit reflecting the impact of currency headwinds and disposals on revenue. Pre-tax profit fell 20% to £98.2m in the six months ended 30 June, as revenue dropped 11% to £718.9m. Orders rose 1% on a reported basis to £782.7m, driven by civil aerospace.
Read moreFARNBOROUGH ROUND-UP - Record orders lift air show spirits
21st Jul 2014 07:00
Aerospace and defence companies notched up a record $201bn of business at last week's Farnborough Air Show, striking a positive note for the industry despite recent turbulence. Analysts had expected a relatively quiet show, saying the focus would be on Airbus and Boeing to prove they could deliver
Read moreLondon open: UK stocks retreat, but ITV jumps
17th Jul 2014 09:10
- Stock slip after strong gains yesterday - Upbeat Beige Book leads to another record for the Dow - ITV surges on Liberty Global M&A hopes techMARK 2,795.17 -0.44% FTSE 100 6,769.28 -0.23% FTSE 250 15,542.03 -0.37% London's FTSE 100 slipped on Thursday morning, retreating after a big jump the prev
Read moreFTSE 100 movers: Meggitt leads risers on bid target rumours
16th Jul 2014 14:55
Aircraft parts maker Meggitt was the standout performer on the FTSE 100, up nearly 10% at 537p amid reports that the company is a potential bid target. The engineer, which makes parts for the Boeing 787 Dreamliner, is said to have attracted the attention of US group United Technologies. According t
Read moreSector movers: M&A, Farnborough lift aerospace and defence stocks
16th Jul 2014 14:47
M&A speculation and contract wins from the Farnborough Air Show were helping stocks in the aerospace and defence sector post solid gains on Wednesday. Aircraft components manufacturer and engineering group Meggitt was the standout performer in afternoon trade, up nearly 10% at 537p on the back of r
Read moreLondon midday: Chinese and UK data give FTSE 100 a boost
16th Jul 2014 11:58
- Chinese GDP growth picks up to 7.5% - UK unemployment at lowest since 2008 - Meggitt jumps on M&A hopes - Rio Tinto leads miners higher techMARK 2,808.69 +1.03% FTSE 100 6,771.71 +0.91% FTSE 250 15,592.03 +0.98% Stocks in London jumped on Wednesday morning as a surprise pick-up in Chinese growth
Read moreLondon open: Chinese GDP gives stocks a boost, Meggitt jumps
16th Jul 2014 09:08
- Chinese growth picks up to 7.5% in Q2 - Meggitt jumps on M&A speculation - Analysts continue to digest Yellen comments - Rio Tinto rises after "very strong" first half techMARK 2,796.59 +0.59% FTSE 100 6,741.30 +0.46% FTSE 250 15,502.90 +0.40% Stronger-than-expected economic growth in China help
Read more