London open: Stocks gain but traders nervous ahead of Fed meeting
17th Jun 2013 08:23
Stocks registered decent gains in early trading on Monday though upside is expected to be limited throughout the day as traders nervously await a policy meeting at the Federal Reserve in a few days' time. Both the economic and corporate earnings schedules for today are looking pretty light, so the
Read moreBroker tips: RBS, HSBC, Petrofac
13th Jun 2013 11:34
Credit Suisse gave its initial thoughts on the news that Royal Bank of Scotland Chief Executive Officer Stephen Hester has agreed to leave the group, saying that while the exit had been speculated in the past, "it still comes as a surprise in terms of timing". The broker reiterated its 'underperfor
Read moreBroker snap: Petrofac now Citi's most preferred stock
13th Jun 2013 11:24
Citigroup has raised its recommendation for oilfield services giant Petrofac from 'neutral' to 'buy', saying it sees scope for a re-rating following its recent slump. The target price however has been cut from 1,650p to 1,600p to reflect recent weakness - the stock has fallen by around 22% so far i
Read moreThursday broker round-up UPDATE
13th Jun 2013 07:01
African Barrick Gold: Citi moves target price from 175p to 124p and maintains a sell recommendation. ASOS: Nomura raises target price from 2970p to 3400p keeping a neutral rating. Exane increases target price from 4200p to 5000p and retains its outperform rating. Citi ups target price from 4400p to
Read moreMonday newspaper round-up: Severn Trent, Japanese growth, BAE...
10th Jun 2013 06:29
The international consortium bidding for Severn Trent could walk away from the deal following a number of rejections by the utility group over recent weeks, The Times says, citing sources close to the matter. "If the Severn Trent board does not engage, no further proposals will be made," sources tol
Read morePetrofac awarded onshore contracts in Abu Dhabi
4th Jun 2013 10:28
FTSE 100-listed international service provider Petrofac has reported that Petrofac Emirates, its joint venture with Mubadala Petroleum, has been awarded an onshore engineering, procurement and construction (EPC) contract by Abu Dhabi Company for Onshore Oil Operations (ADCO) for the development of t
Read moreThursday broker round-up UPDATE
30th May 2013 08:19
AMEC: Morgan Stanley reduces target price from 1220p to 1100p and retains an underweight rating. Amlin: JP Morgan takes target price from 360p to 400p maintaining an underweight rating. Brewin Dolphin: Canaccord Genuity raises target price from 230p to 285p and reiterates a buy recommendation. C
Read moreLondon close: Stocks plummet as bond yields rise
29th May 2013 16:38
Financial markets erased yesterday's impressive gains on Wednesday as renewed concerns about the global economy hammered sentiment in London. "In an almost complete reversal of yesterday's price action the bears have reasserted themselves today, overturning the brief return to optimism as European
Read moreLondon close: Stimulus hopes drive triple-digit gains for FTSE 100
28th May 2013 16:49
While hopes have now faded for a long-term continuation of stimulus measures in the US, speculation surrounding continued monetary easing in Europe and Japan sparked a huge surge on equity markets on Tuesday. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter par
Read moreFTSE 100 movers: Aggreko, Petrofac, ENRC
28th May 2013 15:07
Temporary power provider Aggreko topped the FTSE Tuesday as a report highlighted the "urgent" need to meet rising energy demands. EnergyUK, which represents more than 80 energy providers, has written to Energy Secretary, Ed Davey, calling for an increase in capacity in the market to prevent an energ
Read moreMonday broker round-up UPDATE
20th May 2013 08:32
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating. Amlin: Morgan Stanley ups target price from 428p to 469p, while maintaining an overweight rating. Anite: Espirito Santo cuts target price from 180p to 165p retaining a buy recommendation. Ashtead Group: UBS takes
Read morePetrofac heads stock up as group unveils growth predictions
17th May 2013 16:10
Both the Chairman and the Chief Financial Officer of Petrofac bought shares on Thursday, the same day the company predicted modest growth in net profits for the year. In an announcement issued Friday, it was reported that Norman Murray and Tim Weller bought 7,500 and 7,454 shares respectively. M
Read moreLondon close: FTSE 100 snaps winning streak after poor US data
16th May 2013 16:41
The FTSE 100 has finally ended its long-running winning streak after poor economic data from the States dampened stocks by the close of trade on Thursday. Markets were relatively rangebound for most of the session today, teetering around a five-and-a-half-year high of 6,700 following 10 consecutive
Read moreLondon midday: Markets rangebound but winning streak continues
16th May 2013 11:34
The FTSE 100 was continuing to trade within an extremely tight range on Thursday morning as investors consider how much further the rally will go given that the index is already trading at levels not seen in five and a half years. Just 15 points separated the Footsie's intraday low (6,693) and hig
Read moreLondon open: FTSE 100 breaches 6,700 after Japanese GDP
16th May 2013 08:35
The winning streak on the FTSE 100 continued into its 11th day on Thursday as stronger-than-expected growth in Japan boosted London's benchmark index to fresh five-and-a-half-year highs. The FTSE 100 has been in positive territory since the start of May and was teetering around the 6,700 mark this
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