Broker snap: Nomura lifts targets for utilities after Budget
22nd Mar 2012 10:26
While Nomura has maintained a bearish view on the UK utilities sector, yesterday's Budget did include a cut in corporation tax leading the broker to upgrade its target prices for utilities under its coverage. Chancellor of the Exchequer George Osborne announced yesterday that the planned sequence o
Read moreLondon close: Stocks flat as investors digest Budget
21st Mar 2012 16:47
- FTSE 100 unchanged on the day after subdued reaction to Budget - MPC unanimous on interest rates, divided on QE - Weir slumps on negative read-across from Baker Hughes The markets gave a rather muted reaction to today's Budget announced by Chancellor of the Exchequer George Osborne at lunchtime,
Read moreFTSE 100 movers: Retailers rise as stocks react to Budget
21st Mar 2012 15:13
The retailers were on the rise today with Sainsbury leading the charge after fourth quarter like-for-like (LFL) sales beat expectations. Meanwhile, George Osborne's Budget revealed that all-day trading on Sundays will be allowed from July 22nd to coincide with the Olympics and Paralympics, somethin
Read moreWednesday newspaper round-up: RBS, Budget, BoE
21st Mar 2012 07:09
Royal Bank of Scotland's insurance arm is poised to appoint Mike Biggs as its chairman with a brief to lead a £5bn flotation of the Churchill and Direct Line brands this year. Mr Biggs, a former HSBC banker and Aviva finance director, is chairman of Resolution Limited, Clive Cowdery's FTSE 100 inves
Read moreFTSE 100 movers: Miners plunge on concerns over Chinese demand
20th Mar 2012 14:00
The miners were the worst performers of the day on Tuesday on fears over the economic outlook for China. Ian Ashby, President of BHP Billiton's iron ore division, told reporters in Australia that "the (Chinese) economy is shifting, it's changing. Steel growth rates will flatten and they have flatt
Read moreLondon midday: Miners tank on Chinese growth fears
20th Mar 2012 12:02
- Inflation falls but not as much as expected - Miners fall on Chinese demand concerns - National Grid advances after a kind word from Nomura The Footsie slumped to its lowest levels of the day by midday, down a whole percentage point, after UK inflation fell at a lower-than-expected pace and worri
Read moreBroker tips: Unilever, Regus, Energy stocks
20th Mar 2012 11:19
Investec has cut its recommendation for food and cosmetic goods giant Unilever from buy to hold and cut its target price from 2,170p to 2,100p - the first time it has downgraded the stock in 17 years. While the broker says it is still an admirer of the company, two things are a cause for concern: a
Read moreBroker snap: Uncertainty persists in the energy sector, says Nomura
20th Mar 2012 10:17
Nomura has highlighted National Grid and United Utilities as its key picks in the UK utilities sector, but has warned that uncertainties still remain given the current climate and regulatory intervention. "Energy continues to be a contentious issue in UK politics - the economic downturn, combined w
Read moreTuesday broker round-up
20th Mar 2012 10:04
Aggreko: Credit Suisse raises target from 2,140p to 2,350p, neutral rating kept. ARM Holdings: BarCap upgrades from equal weight to overweight, target lifted from 700p to 725p; Investec upgrades from hold to buy, target lifted from 640p to 800p. Centrica: Nomura raises target from 340p to 350p, n
Read moreLondon open: Miners pull the Footsie lower
20th Mar 2012 08:36
- Miners fall as BHP warns of slowing steel production in China - OBR to raise UK GDP forecasts for 2012 - ARM, National Grid, United Utilities rise after upgrades The FTSE 100 slumped in the opening hour on Tuesday as the miners dragged the blue chip index into the red for a second day. According
Read moreLondon close: Losses trimmed by news from Greece
19th Mar 2012 17:03
- Greek CDS auction finishes in line with expectations - Greece expects GDP to fall 4.5 per cent in 2012 and 0.5 per cent in 2013 - Markets await Wednesday's Budget The FTSE 100 finished only slightly in the red after a positive start on Wall Street, which saw UK stocks trim losses in afternoon tra
Read moreLondon midday: Losses pared but Footsie still down
19th Mar 2012 11:42
- Greece 'more than halfway' along path to recovery - Vodafone up on tax benefit reports from CWW takeover - Misys jumps on recommended bid from Vista Losses were halved by lunchtime but the Footsie still remained in the red on a relatively quiet day for company results and economic data. Markets a
Read moreTuesday broker round-up - UPDATE
6th Mar 2012 09:20
Serco: Credit Suisse lifts target price to 650p from 600p, remains at outperform. Capita: Credit Suisse revises target to 820p from 770p, retains outperform. Wolseley: UBS downgrades from buy to hold. Pace: Peel Hunt upgrades from hold to buy, raises target to 99p from 75p. International Power
Read moreLondon open: Stocks fall ahead of Greek debt-swap
6th Mar 2012 08:33
- IIF warns of 1trn euro damage to Eurozone. - Fresnillo bucks sector trend to rise after results. - Defensives in demand. With just a couple days to go before the Greek debt-swap deadline, investors were in a cautious mood as the Footsie slipped lower in early trading on Tuesday. Europe is awaiti
Read moreLondon open: Footsie flat after Eurogroup delays full Greek bailout
2nd Mar 2012 08:33
- Eurogroup releases 58bn euros but delays full Greek bailout. - ECB 'reasonably satisfied' with LTRO - International Power rises on Indonesian deal. The Footsie opened flat in early trading on Friday on news that European leaders have delayed the decision to fully bail out Greece for another 10 da
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