London close: Footsie drops 1.8% on Eurozone worries
12th Dec 2011 16:46
London's Footsie finished at its lowest levels of the day after Wall Street bourses opened sharply in the red. The Eurozone crisis appeared to be weighing heavily on investors' minds (as usual) following some downbeat comments from Moody's. The FTSE 100 finished 1.8% down at 5,428, some 101 points o
Read moreFTSE 250 Movers: CSR soars into first place
12th Dec 2011 16:03
Wireless technology and computer chip company CSR roared higher after announcing that it will be discontinuing investment in the areas of digital television systems-on-a-chip and silicon tuners. CSR expects to realise, on an annualised basis, $60m of operating cost reductions as a result of these
Read moreLondon midday: Stocks continue to fall, banks tumble
12th Dec 2011 11:49
The Footsie was trading just below the 5,500 level at midday, with banks and miners providing a drag on London's blue chip index. It seems that markets across Europe have given a lukewarm reaction to the 'fiscal compact' agreed by (some) EU leaders late last week, with indices in Paris, Frankfurt an
Read moreLondon open: Banks and miners drag down Footsie
12th Dec 2011 08:44
Mining stocks are dragging the Footsie down in early going, while banks are also weak as investors bank profits after the sector shot up on Friday. Royal Bank of Scotland (RBS) is one of the big fallers in the banking sector after the long-awaited report from the Financial Services Authority (FSA)
Read moreSunday newspaper round-up: American growth, France, RBS, Gold
11th Dec 2011 15:05
Three months ago Barack Obama was firmly in the dock over news that no net jobs were created in August. Some gloomy people even saw a double-dip recession on the way. America, it turns out, was not on the verge of recession, and it still isn't. Fears that the government might shut down on December 1
Read moreLondon close: Stocks plummet after ECB
8th Dec 2011 16:43
The Footsie took a tumble in the afternoon as initial optimism following the European Central Bank (ECB) decision to cut rates quickly faded after a press conference with its president Mario Draghi. In the last two-or-so hours of trade, London's blue chip index dropped more than 100 points from its
Read moreFTSE 250 Movers: PZ Cussons share price down the drain
8th Dec 2011 15:53
'Imperial Leather' soap maker PZ Cussons was the biggest faller after it warned that overall profit in the six months to the end of November will come in below expectations. The firm said high raw material costs and adverse exchange rate movement had continued to impact margins in the first half of
Read moreLondon close: Footsie falls back below 5,500
1st Dec 2011 16:35
Despite a strong rise before on the back of some better-than-expected manufacturing data from the US, London's benchmark index pulled back to finish close to its lowest levels of the day. Nevertheless, after yesterday's eye-watering rally which saw benchmark indices across the globe jump between 3-5
Read moreBroker tips: Kingfisher, Cairn Energy, Retailers
1st Dec 2011 12:49
While B&Q and Screwfix owner Kingfisher reported third quarter profits ahead of Investec's forecasts, the broker has reiterated its hold rating given the "undemanding valuation metrics". "We have...cut our outer year forecasts in anticipation of negative LFLs [like-for-likes] in France next year, a
Read moreBroker snap: Bleak midwinter trading for retailers, predicts Investec
1st Dec 2011 12:38
Investec has reiterated its underweight stance on the UK retail sector due to the cautious attitudes of cash-strapped consumers and ahead of an uncertain key trading period at Christmas The broker says that while the UK may be deemed as a safe (or even safer) haven when compared with Eurozone econ
Read moreLondon midday: Footsie nudges higher despite poor data
1st Dec 2011 12:02
UK stocks have jumped into positive territory after European bond auctions saw strong demand, but gains are likely to be limited by a string of poor manufacturing data out this morning. Investors will still be digesting the news of a co-ordinated intervention by major central banks to provide cheap
Read moreThursday broker round-up - UPDATE
1st Dec 2011 09:56
Royal Bank of Scotland: Evolution Securities cuts target from 40p to 35p, buy rating unchanged. Marks & Spencer: Investec downgrades from buy to hold. Next: Investec upgrades from hold to buy. Kingfisher: Investec reiterates hold, target cut from 245p to 235p. Cairn Energy: UBS cuts target from
Read moreBroker tips: IG Group, Mothercare, Business service stocks
29th Nov 2011 12:58
Prime Markets recommends buying shares in IG Group, saying that the European sovereign debt crisis creates "ideal conditions" for the spread-betting firm. The group said this morning that it has continued to see high levels of client activity during its second quarter and first half revenues will b
Read moreBroker snap: UBS downgrades Mothercare to sell
29th Nov 2011 09:47
UBS has downgraded its rating on children's and parenting products retailer Mothercare from neutral to sell and slashed its target price by over three quarter after assessing the group's first half results published two weeks ago. The broker notes that Mothercare reported a first half underlying pr
Read moreTuesday broker round-up - UPDATE
29th Nov 2011 09:15
Senior: Credit Suisse keeps at neutral, raises target to 175p from 165p. Icap: Credit Suisse keeps at outperform, lowers target to 420p from 510p. G4S: HSBC upgrades to overweight from neutral. Rio Tinto: UBS cuts target from 6,000p to 5,650p, buy rating kept [28 November]. BP: Nomura keeps neut
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