Melrose eyeing acquisitions as profits surge after Elster deal
5th Mar 2014 07:11
- Headline profits almost double to 226m pounds - Dividend lifted by two per cent - Melrose 'ready and keen to buy' Industrial conglomerate Melrose saw profits almost double in 2013, helped by a full year's contribution from Elster, the gas, electricity and water metering company acquired the previ
Read moreMonday broker round-up UPDATE
3rd Feb 2014 09:18
Advanced Computer Software: Panmure Gordon shifts target price from 132p to 139p and keeps a buy recommendation. AGA Rangemanager: Canaccord Genuity initiates with a target price of 300p and a buy recommendation. Avon Rubber: Canaccord Genuity initiates with a target price of 720p and a hold recom
Read moreTuesday broker round-up UPDATE
21st Jan 2014 08:17
BG Group: Credit Suisse ups target price from 1170p to 1200p, while leaving its underperform rating unchanged. BHP Billiton: UBS lowers target price from 2090p to 2060p, while its buy recommendation is kept. Diageo: UBS cuts target price from 2050p to 2000p maintaining a neutral rating. DP World
Read moreMelrose proposes 600m-pound cash return
21st Jan 2014 07:52
Industrial investment firm Melrose has confirmed that it will return 600m pounds to shareholders after the disposals of five of its FKI businesses last year. The businesses, which were disposed of in the second half of 2013, were sold for a total of £945m, more than tripling shareholder value in re
Read moreSector movers: Weir leads industrial engineers higher
20th Jan 2014 15:07
Industrial engineers were making decent gains on Monday with sector heavyweight Weir among the best performers on the back of upbeat comments from analysts. The oil and gas engineer was up 4.2% at 2,227p in afternoon trade with a 'buy' rating from Redburn helping sentiment. "Weir's valuation compa
Read moreMonday broker round-up UPDATE
13th Jan 2014 09:04
Admiral Group: Citi ups target price from 1220p to 1256p and reiterates a neutral rating. Afren: Nomura increases target price from 170p to 210p and stays with its neutral rating. Alternative Networks: Westhouse Securities increases target price from 445p to 540p reiterating its add rating. Amlin
Read moreMelrose Industries completes sale of Harris Waste Management
3rd Jan 2014 15:24
UK investment company Melrose Industries has completed the sale of Harris Waste Management Group to Avis Industrial Corp. Harris is expected to have achieved unaudited turnover of approximately £30m and an operating profit of approximately £900,000 in 2013. It follows the disposal of Crosby and Ac
Read moreFTSE 100 movers: Randgold and retailers make gains
2nd Jan 2014 15:16
Randgold Resources made strong gains this afternoon, helped by a jump in the price of gold of more than two per cent. Rob Cohen, the Lead Portfolio Manager with Dynamic Funds, was also quoted as saying the company was a "good position to do acquisitions" and has a "really good balance sheet". Ha
Read moreFTSE 100 movers: Supermarkets drag index lower despite buoyancy of miners
30th Dec 2013 15:11
With many traders still on their holidays until after the New Year, both trading and company news have been light. Supermarkets have dragged the FTSE down today, with Sainsbury and Morrison weighing particularly heavily, on the back of competition fears. According to Alex Conroy at Spreadex, the
Read moreTuesday broker round-up UPDATE
10th Dec 2013 09:43
Amlin: Westhouse Securities moves target price from 470p to 480p and reiterates an add rating. Antofagasta: Credit Suisse reduces target price from 900p to 750p, while upgrading to neutral. UBS cuts target price from 845p to 765p retaining its neutral rating. Ashley House: WH Ireland moves target
Read moreFTSE 100 movers: Next climbs on BRC comments and broker rating
3rd Dec 2013 14:14
Next was leading the risers today, buoyed by a report from the British Retail Consortium, which said despite overall poor sales clothing retailers had performed well in November, as well as Oriel Securities, which upped its rating on the stock to 'buy' from 'hold'. It said of the group: "The Directo
Read moreTuesday broker round-up UPDATE
26th Nov 2013 08:18
BBA Aviation: Goldman Sachs shifts target price from 420p to 425p and reiterates a buy recommendation. BTG: Numis raises target price from 350p to 440p upgrading from reduce to hold. Cambria Automobiles: Panmure Gordon starts with a target price of 61p and a buy recommendation. Daily Mail & Gener
Read moreMelrose completes sale of Crosby and Acco
22nd Nov 2013 15:26
Melose Industries has completed its sale of Crosby and Acco to a newly incorporated company. The disposal was made for a total of $1,01m. NR
Read moreWednesday broker round-up UPDATE
20th Nov 2013 08:46
Afren: Liberum Capital raises target price from 197p to 232p and maintains a buy recommendation. AstraZeneca: Berenberg cuts target price from 3472p to 3430p reiterating a hold recommendation. AVEVA Group: Liberum Capital reduces target price from 2350p to 2250p and keeps its hold recommendation.
Read moreMelrose to return 600m pounds to shareholders post disposal
19th Nov 2013 07:44
- Capital return announced following Crosby, Acco disposals - Elster performing strongly in Q3 - Revenue growth remains 'hard to find' Melrose Industries, the industrial investment firm, has revealed that it will return around 600m pounds to shareholders next year following the disposals of the Cro
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