Tuesday newspaper round-up: FTSE 100, BRICs, Next, Recession
3rd Jan 2012 06:16
The FTSE 100 will shrug off the continuing economic malaise to rebound by almost 8% in 2012, according to the average forecasts of ten leading market commentators surveyed by The Times. Such gains, expected to be driven by investors' appetite for undervalued stocks and international exposure, would
Read moreWeek Ahead: Next to report on Christmas trading
31st Dec 2011 10:37
Wednesday looks like it could be a big day for the retail sector with fashion chain Next making a trading announcement that should give a clue to how the festive shopping season went. Next's performance may not necessarily be a reliable indicator for how the High Street in general performed over Ch
Read moreBroker tips: Retailers, European Goldfields, LSL
22nd Dec 2011 11:15
Credit Suisse has reassessed its forecasts across the European General Retail sectorahead of the January 2012 trading statement season. "Demand conditions for 2012 remain uncertain, although we are cautiously optimistic on the UK environment versus the rest of Europe," the Swiss broker said. "An
Read moreBroker snap: Credit Suisse cautiously optimistic for UK retailers
22nd Dec 2011 10:58
Credit Suisse has reassessed its forecasts across the European General Retail sector ahead of the January 2012 trading statement season. "Demand conditions for 2012 remain uncertain, although we are cautiously optimistic on the UK environment versus the rest of Europe," the Swiss broker said. "Ann
Read moreThursday broker round-up - UPDATE
22nd Dec 2011 08:21
Kingfisher: Credit Suisse reiterates outperform rating and 310p target. Next: Credit Suisse maintains outperform rating and 3,000p target. Marks & Spencer: Credit Suisse cuts target from 345p to 334p, neutral rating unchanged. Home Retail: Credit Suisse cuts target from 85p to 70p, keeps underper
Read moreSunday newspaper round-up: ECB, India, Next, LSE
18th Dec 2011 14:49
Risk appetite recovered a bit towards the end of last week, as evinced by the rise in the Euro/dollar cross to over 1.30 on Friday, the Financial Times writes in this weekend´s edition. Likewise, in general Eurozone government bonds did well, although Italian 10 year bond yields did rise by 20 basis
Read moreFTSE 100 Movers: Miners drag index down
14th Dec 2011 14:19
Miners were among the worst performers. Dollar-denominated metals prices were on the decline as the greenback strengthened following the Federal Open Market Committee (FOMC) statement. Fresnillo, Rio Tinto, ENRC and Antofagasta were all registering steep falls. Last night, the FOMC decided, as expe
Read moreFTSE 100 Movers: Petrofac leads the way
13th Dec 2011 14:51
Oilfield services firm Petrofac soared into the top spot after announcing that it expects to deliver like-for-like (LFL) profit growth in 2011 of at least 20%, the company announced this morning. While the order book may have "unwound" slightly (from $10.8bn in September to $10.6bn expected at the
Read moreTuesday broker round-up - UPDATE
13th Dec 2011 09:54
Amec: Citi upgrades to buy from sell. Royal Dutch Shell: Citi downgrades to neutral from buy. Petrofac: Investec reiterates buy, 1,705p target under review. Petrofac: Evolution Securities reiterates add and 1,700p target. Whitbread: Evolution Securities keeps buy rating and 1,800p target. Whitb
Read moreLondon close: Footsie finishes flat on euro concerns
6th Dec 2011 16:53
The Footsie finished flat on Tuesday, as some worrying comments on the Eurozone by ratings agency Standard & Poor's continued to weigh on sentiment. The index traded within a narrow range of just 51 points today, with investors likely to stay cautious ahead of a pivotal EU summit scheduled at the e
Read moreSector movers: Retailers sold off after gloomy data
6th Dec 2011 16:15
Retailers were the worst performers of the day on Tuesday, falling an average 2.4% after some gloomy comments from the British Retail Consortium (BRC). Consumers are keeping "a tight rein on their spending, despite Christmas being so near", the BRC said today. Total sales were up 0.7%, against a 2
Read moreFTSE 100 Movers: Wolseley on the rise
6th Dec 2011 13:57
Wolseley, a distributor of plumbing and heating products, hit the top spot after reporting that it has seen like-for-like revenue growth of 5% in the three months to the end of October, compared to the same period of 2010. Total revenues were £3,641m. On a like-for-like basis Wolseley's biggest mar
Read moreLondon midday: Footsie in the blue despite S&P warning
6th Dec 2011 12:01
UK equities pushed into positive territory (albeit only slightly) by midday but trade was choppy in the morning session, as a Standard & Poor's warning over Eurozone ratings rattled markets' nerves. Nevertheless, US futures were pointing to a positive start on Wall Street, providing a lift here in
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
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