Meggitt in double contract win
6th Aug 2013 09:26
Meggitt, the FTSE 100 company which develops technology for the aerospace, defence and energy markets, has announced its Safety Systems business has been selected by Abris JSC to provide fire protection equipment for the Irkut MC-21 aircraft programme. Under the contract, which is worth $50m, the g
Read moreLondon pre-open: Small losses expected early on
6th Aug 2013 07:26
UK stocks are expected to open with small losses on Tuesday as markets digest a rate cut in Australia and comments by a member of the Federal Reserve last night. As expected, the Reserve Bank of Australia made a 25 basis-point reduction to its headline lending rate to 2.50% and said "the inflation
Read moreTuesday broker round-up UPDATE
6th Aug 2013 07:13
Alent: Credit Suisse lowers target price from 430p to 420p keeping an outperform rating. UBS ups target price from 350p to 365p and maintains a neutral rating. Anglo American: Jefferies cuts target price from 1700p to 1650p and maintains a hold recommendation. Aquarius Platinum: RBC Capital shifts
Read moreMeggitt's pre-tax profits rise in the first half on higher revenues
6th Aug 2013 07:03
Meggitt's pre-tax profit for the first half rose 7.0 per cent to 182.4m pounds, bolstered by the engineering company's strong performance in civil original equipment (OE) and energy markets. Revenue for the first six months of the year jumped 4.0% to £810.1m compared to a year ago while underlying
Read moreLondon close: Stocks swing into the red as US data smashes forecasts
5th Jul 2013 16:45
The eagerly anticipated US jobs report didn't fail to disappoint on Friday, smashing consensus forecasts and sparking a surge in the dollar; but equity markets in the UK quickly dropped into the red with mining stocks providing a drag as metals prices fell. With an impressive 195,000 non-farm payro
Read moreFTSE 100 movers: Miners drop as metals prices drop after US jobs beat
5th Jul 2013 14:38
Mining stocks were the worst performers of the day on Friday, tracking metals prices lower as the dollar the strengthened on the back of US labour-market data which smashed expectations. With an impressive 195,000 non-farm payrolls added in June - well ahead of the 165,000 forecast - and previous mo
Read moreBroker tips: Meggitt, Whitbread, Gold miners
5th Jul 2013 12:18
Deutsche Bank has cut its recommendation for aerospace and defence engineering group Meggitt from 'buy' to 'hold' ahead of its first-half results next month, saying it sees 'insufficient upside' from current prices. "Reflecting the recent re-rating of defence peers and ongoing optimism around the c
Read moreLondon midday: Stocks hold on to gains before US jobs report
5th Jul 2013 12:00
The FTSE 100 was holding at a one-month high on Friday morning as investors awaited the US jobs report this afternoon which could spark a volatile reaction on stock markets worldwide. US futures were pointing to a strong start on Wall Street today, though volumes were on the light side as traders r
Read moreBroker snap: Deutsche Bank downgrades Meggitt on 'insufficient upside'
5th Jul 2013 10:52
Deutsche Bank has cut its recommendation for aerospace and defence engineering group Meggitt from 'buy' to 'hold' ahead of its first-half results next month, saying it sees 'insufficient upside' from current prices. The broker forecasts "reasonably good progress" in the first half with sales expect
Read moreLondon open: Stocks at one-month high ahead of US jobs report
5th Jul 2013 08:42
Stocks were performing well on Friday morning, pushing the FTSE 100 to a one-month high ahead of the eagerly-anticipated US jobs report later on. London's benchmark index was building on its massive gains the day before, after jumping 3.1% on the back of dovish comments by the Bank of England and E
Read moreFriday broker round-up UPDATE
5th Jul 2013 08:09
African Barrick Gold: Nomura lowers target price from 200p to 155p, while upgrading from reduce to buy. Barclays: Bank of America reduces target price from 410p to 370p, while leaving its buy recommendation unchanged. BHP Billiton: Investec ups target price from 1919p to 1926p maintaining a buy re
Read moreFormer London Stock Exchange chief joins Meggitt as CFO
6th Jun 2013 09:51
British engineering company Meggitt has appointed Doug Webb as its new Chief Financial Officer (CFO) following the departure of Terry Twigger. Webb, former CFO of London Stock Exchange Group, will take over the reins from Stephen Young who was holding the fort while the company searched for Twigger
Read moreMonday broker round-up UPDATE
13th May 2013 07:18
Bioquell: Investec shifts target price from 136p to 141p and keeps a hold recommendation. blinkx: Canaccord Genuity moves target price from 125p to 135p reiterating its buy recommendation. Britvic: Panmure Gordon increases target price from 380p to 460p and retains a hold recommendation. BT Group
Read moreLondon midday: Stocks extend gains ahead of Fed decision
1st May 2013 11:27
The FTSE 100 was taking advantage of low volumes on Wednesday morning, registering decent gains by lunchtime as other stock markets across Europe remained closed for the May Day public holiday. A slowdown in Chinese manufacturing growth didn't have too much of an effect on markets early on as trade
Read moreLondon open: Miners shrug off disappointing Chinese data
1st May 2013 08:21
A slowdown in Chinese manufacturing growth didn't have too much of an effect on stock markets on Wednesday morning as traders showed optimism in anticipation of a continuation of monetary stimulus from the US and a rate cut in Europe this week. Nevertheless, volumes are expected to be low today giv
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