London close: Footsie thunders ahead
11th Oct 2012 16:54
Better than expected US jobless figures gave a little early afternoon boost to a London market already going along nicely, as investors shrugged off a downgrade of Spain's credit rating by S&P, leaving the Iberian nation's debt status barely above a junk rating. Initial weekly unemployment claims d
Read moreFTSE 100 movers: Burberry rises on signs of improved trading
11th Oct 2012 15:35
Shares in stock market darling Burberry, the luxury fashion chain, leapt on Thursday, after it said its situation had started to improve towards the end of the July-September quarter, during which time sales growth in its stores slowed dramatically, as expected. LFL sales over the half-year were u
Read moreBroker tips: RBS, Morrisons, Providence Resources
11th Oct 2012 13:17
Credit Suisse has increased its target price for Royal Bank of Scotland to 190p from 180p, while maintaining its 'underperform' rating. RBS reports its third quarter results on November 2nd and Credit Suisse has reduced its estimated 2012 underlying loss per share from 7.6p to 3.3p, following the S
Read moreLondon midday: Bumi booming on back of buy-out proposal
11th Oct 2012 11:51
London enjoyed a solid morning sparked by a return to favour of stock market darling Burberry, the luxury fashion chain. Burberry, which issued a profit warning last month, confirmed like-for-like (LFL) sales growth in its stores slowed dramatically in the July-September quarter, but the good news
Read moreBroker snap: Credit Suisse downgrades Morrisons
11th Oct 2012 09:52
Credit Suisse has cut its target price for Morrisons supermarket to 290p from 320p, downgrading it from 'Outperform' to 'Neutral'. Analysts at the Swiss Bank said that after weak first half sales, they thought that Morrisons needed to get back on form, but it hasn't. "It appears to us that Morriso
Read moreWednesday broker round-up - UDPATE
10th Oct 2012 08:22
African Barrick Gold: Nomura cuts target from 670p to 605p, buy rating kept. APR Energy: JPMorgan Cazenove initiates coverage with overweight rating and 1,005p target. ARM Holdings: Credit Suisse initiates coverage at neutral. ASOS: Seymour Pierce keeps hold rating and 1,900p target. Avanti Com
Read moreLondon close: Stocks dampened by global growth concerns
8th Oct 2012 16:32
- Miners fall on global growth concerns - Supermarkets perform well after broker comments - World Bank cuts Chinese growth forecasts Cyclical stocks suffered falls on Monday as growing uncertainty about the Eurozone and concerns over global growth dampened the mood. "Stocks traded lower today as i
Read moreSector movers: Tesco, Sainsbury and Morrisons lift retailers higher
8th Oct 2012 15:33
Food and drug retailers were at the top of the pile today with supermarket giants Tesco, Sainsbury and Morrisons providing a boost to the sector. Panmure Gordon said this morning that it expects "significant, unstoppable strategic changes to unfold over the next six to 12 months in the food retail
Read moreFTSE 100 movers: Supermarkets perform well
8th Oct 2012 15:32
Supermarket chains Morrisons and Tesco were both high risers on Monday. It announced in the morning that it has appointed a managing director of its convenience arm - an area where the company has been notably lacking compared to its rivals - saying it is "ready to expand at pace" its M Local busine
Read moreContracts round-up: Wincanton, Plexus, Sportech ...
8th Oct 2012 09:33
Logistics firm Wincanton has been awarded a multi-million pound five-year contract by supermarket group Morrisons to operate its first ever dedicated UK convenience distribution centre in London. The contract is for combined warehouse and transport operations, supported by Wincanton's system platfor
Read moreMonday broker round-up - UPDATE
8th Oct 2012 08:03
AMEC: Investec keeps buy rating and 1,300p target. Aquarius Platinum: Panmure Gordon keeps buy rating and 163p target. BAE Systems: Societe Generale upgrades to hold, target lifted from 300p to 350p. British American Tobacco: Nomua raises target from 3,500p to 3,506p, buy rating kept. BSkyB: Nom
Read moreSunday newspaper round-up: Budget deficit, BAE, Spanish banks
23rd Sep 2012 17:42
Economists at Morgan Stanley calculated that Britain's budget deficit could total 126bn pounds, or 7.8 per cent, of gross domestic product in 2013-14. That would make Britain's the highest projected European deficit, with the bank predicting that Greece's would stand at 6.3 per cent and Spain's at j
Read moreLondon close: Losses pared but miners are hit hard
20th Sep 2012 16:31
Losses were pared in the final 90 minutes of trading in London on a day when investors fretted about a slow-down in the global economy. Disappointing Chinese manufacturing data was released overnight, and the news was not good. China´s manufacturing sector Purchasing Manufacturers' Index (PMI) for
Read moreLondon midday: Global slow-down fears mash miners
20th Sep 2012 11:58
Miners remain under a cloud after disappointing Chinese manufacturing data was released overnight, but there was some cheer on the home front, as retail sales fell by less than feared in August. UK retail sales fell by 0.2% in August, slightly less than the 0.3% fall expected by economists. In year
Read moreDirectors' deals balance the scale at Advanced Computer Software
18th Sep 2012 17:08
Advanced Computer Software Group has reported separate deals by two of its directors, more or less balancing each other out. The deals were made on Monday, when the healthcare and business management software provider said it expects revenues to have climbed by a fifth in the six months to the end
Read more