London open: Markets pause after strong run last week
13th May 2013 08:48
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, mea
Read moreMonday newspaper round-up: Lloyds, ENRC, Ocado...
13th May 2013 06:44
Sir Win Bischoff, the Chairman of Lloyds since September 2009, is expected to announce his resignation ahead of Thursday's shareholder meeting as the bank readies for privatisation, reports The Guardian. The Financial Times says that May 17th is the deadline for a bidding consortium - made of a "tr
Read moreSunday newspaper round-up: Osborne, Ocado, M&S
12th May 2013 19:16
Energy giant Centrica is eyeing US gas assets jointly with Qatar as it gears up expansion across the Atlantic. The British Gas owner, which is likely to face questions on its growth plans at its Annual General Meeting in London on Monday, wants to build on last month's 650m pound joint deal for Cana
Read moreFTSE 250 movers: Ocado leads risers after strong update
10th May 2013 15:26
Ocado rose to the top of the FTSE 250 Friday after the grocery website said it was well placed to take advantage of rapid growth in online sales. The company is currently in talks with Morrison to help the supermarket launch its first online shopping offering and said the deal would be complementary
Read moreBroker tips: Ocado, ASOS, BT Group
10th May 2013 13:58
Following today´s AGM statement from on-line grocer Ocado analysts at Panmure Gordon believe there is an increased chance that it will reach a deal with peer Morrison. On the basis that this new revenue stream is worth as much as 'core' Ocado then the company´s valuation ought to be twice what it i
Read moreBroker snap: Sell Ocado, Panmure Gordon says
10th May 2013 13:19
Following today´s AGM statement from on-line grocer Ocado analysts at Panmure Gordon believe there is an increased chance that it will reach a deal with peer Morrison. On the basis that this new revenue stream is worth as much as 'core' Ocado then the company´s valuation ought to be twice what it i
Read moreLondon midday: All eyes on Bernanke and G7
10th May 2013 11:32
UK equities are now registering moderate gains and near their best levels of the day, buoyed by another rise in risk appetite which seemed to take its cue from the sharp move lower in the Japanese Yen overnight. Some investors attributed that move in foreign exchange markets to cautious comments ou
Read moreOcado pleases with AGM statement
10th May 2013 09:06
Online supermarket Ocado is set to tell investors at Friday's annual general meeting (AGM) that it has made 'significant progress' and is 'well placed' to exploit growth in the online grocery retail industry. The meeting will also see the chairmanship passed from Lord Grade to Sir Stuart Rose. In
Read moreFriday broker round-up UPDATE
10th May 2013 07:14
Afren: Westhouse Securities initiates with a target price of 160p and a buy recommendation. Ashmore Group: Credit Suisse raises target price from 375p to 440p upgrading from underperform to neutral. Barratt Developments: Citigroup increases target price from 245p to 315p leaving its neutral rating
Read moreFTSE 250 movers: Supergroup rises on on Investec note
3rd Apr 2013 15:38
Supergroup shares were boosted by Investec, which initated its coverage of the stock with a target price of 843p and a buy recommendation. Pennon Group was rising on news that Abu Dhabi Investment Authority is reportedly considering a bid for the company's South West Water. Ashtead Group got a b
Read moreLondon close: Stocks trim losses as bank-run fears subside
18th Mar 2013 16:44
After registering sharp declines early on, stock markets across Europe had clawed back losses by the close of trade on Monday, as concerns of a contagious bank run across the Eurozone periphery were eased. Markets suffered a steep sell-off in the morning session after this weekend's controversial b
Read moreFTSE 250 movers: Essar Energy gains on news of new CFO
18th Mar 2013 16:04
India-focused energy firm Essar gained after saying that Chief Financial Officer P Sampath will be succeeded by Deepark Maheshawri, who has a "strong track record of providing strategic financial and capital markets advice across a number of industries". John Laing Infrastructure Fund, a public pr
Read moreFTSE 250 movers:Rentokil leaps into the top spot
15th Mar 2013 15:39
Pest control and hygiene giant Rentokil Initial jumped over 10 per cent after it revealed robust 2012 results, beating analyst expectations. Adjusted pre-tax profits came to 191m pounds, a 10.1 per cent year-on-year rise. Ocado continued to rise one day after posting a jump in sales and unveiling
Read moreLondon close: US labour data boosts stocks late on
14th Mar 2013 16:33
Global stock markets registered decent gains on Thursday as US labour-market figures continued to beat forecasts, pushing the S&P 500 in New York close to an all-time high. The S&P 500 was trading around 1,560 by the close of trade in London (12:30 in New York), just a few points from the record-hi
Read moreFTSE 250 movers: Ocado rises on potentional tie-up with Morrison
14th Mar 2013 16:12
The market celebrated Ocado's news of a potential partnership with Morrison. Richard Curr from Prime Markets said that the deal could be a 'game changer' for the firm. The online grocer also revealed 14.4 per cent rise in first-quarter sales in a separate statement. After signalling higher-than-ex
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