Premier Foods secures re-financing package
19th Mar 2012 07:13
Food manufacturer Premier Foods said sales for ongoing business fell 3.4%, reflecting the tough consumer environment, as it agrees a new re-financing package. The firm, behind brands such as Hovis, Sharwood's and Mr. Kipling, said total sales stood at £1.811bn compared to £1.874bn the previous yea
Read moreTuesday broker round-up - UPDATE
13th Mar 2012 09:59
AstraZeneca: Panmure Gordon keeps buy rating and 3,600p target. Bellway: Credit Suisse maintains outperform rating. BG Group: Nomura raises target from 1,865p to 1,950p, buy rating kept. Computacenter: Panmure Gordon ups target from 490p to 501p, buy rating unchanged. Hays: Credit Suisse ups tar
Read moreThursday broker round-up - UPDATE
19th Jan 2012 09:52
Tesco: Goldman Sachs downgrades to neutral from buy. Morrison: Goldman reiterates sell. Sainsbury: Goldman downgrades to sell from neutral. Tobacco (sector): Nomura downgrades sector view from bullish to neutral. Tesco: AlphaValue downgrades to add from buy, raises target to 402.90p from 401.4
Read moreLondon midday: Stocks drift higher after Chinese, German data
17th Jan 2012 11:43
Stocks were off their intraday highs by lunchtime but the Footsie was still some 26 points up from yesterday's close, helped by some cheery Chinese GDP data and a better-than-expected German confidence survey. Fourth quarter gross domestic product (GDP) data from China was easing fears of a hard la
Read morePremier Foods to cut 600 jobs
17th Jan 2012 10:19
Premier Foods, the firm behind brands such as Hovis, Sharwood's and Mr. Kipling, said it would cut 5% of its 12,000 strong workforce by 2013. The cuts form part of a plan to reduce costs by £40m by 2013, more than double the savings envisaged when it was set out in the company's six month report la
Read moreTuesday broker round-up - UPDATE
17th Jan 2012 09:15
IMI: Exane BNP upgrades to outperform from neutral. Smiths Group: Exane BNP upgrades to outperform from neutral. RBS: Shore Capital upgrades to hold from sell. Oriel reiterates buy. RSA Insurance: UBS labels short-term buy. Resolution: UBS upgrades to buy from neutral. Burberry: Nomura main
Read moreLondon close: Euro concerns drag Footsie into the red
16th Dec 2011 17:04
London's blue chip index took a late tumble late on to finished slightly in the red on a choppy day's trade. European bourses finished broadly down as worries over the Eurozone continue to dampen the mood. EUROZONE WORRIES CONTINUE France may have entered a recession this quarter which will last
Read moreFTSE 250 movers: Sports Direct jumps, Shanks down after downgrade
16th Dec 2011 14:57
Sports clothing firm Sports Direct was the high riser of the day after announcing that it has withdrawn its offer for Blacks Leisure after the outdoor leisurewear and equipment chain put itself up for sale earlier this month. Sports Direct's decision to pull out of the transaction has, however, been
Read moreBroker tips: BP, Kazakhmys, Premier Foods
16th Dec 2011 12:52
Evolution Securities has reiterated its buy rating on oil titan BP, highlighting today's $250m settlement with Cameron International Corporation and rumours of farm-in talks with Ophir Energy. Analyst Richard Griffith said: "Although the figure is relatively modest...it is an acknowledgement from a
Read moreJam tomorrow as Premier Foods sells Chivers
16th Dec 2011 10:19
Premier Foods, the struggling foods group which is racing to reduce its debt so it can meet upcoming banking covenant tests, has offloaded four of its Irish brands. Premier Foods is to sell the Chivers, Gateaux, McDonnells and Erin brands to The Boyne Valley Group for €41.4m, the group announced on
Read moreBroker snap: Investec pleased with Premier Foods' Irish brand disposal
16th Dec 2011 09:54
Investec has kept its buy rating on FTSE 250 foods group Premier Foods following last night's announcement that it will dispose of its four Irish Brands. The firm, famous for the Hovis and Mr Kipling brands, announced at 18:30 on Thursday evening that it had signed an agreement to offload its four
Read moreFriday broker round-up - UPDATE
16th Dec 2011 08:56
Shanks Group: Goldman Sachs downgrades to neutral from buy. Man Group: Deutsche Bank downgrades to sell from buy. BSkyB: Bank of America-Merrill Lynch downgrades to neutral from buy, cuts target to 770p from 800p. Carnival: HSBC upgrades to overweight from neutral. BP: Evolution Securities reit
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 moreNew listings on FTSE 100, none of them London-based
8th Dec 2011 14:43
London's benchmark index, the FTSE 100, is starting to look distinctly foreign after three more firms from abroad get promoted to the top rank. Irish construction firm CRH, along with two Russian miners, namely Evraz and Polymetal, will be replacing bank Investec, satellite group Inmarsat and mini
Read moreFTSE 250 Movers: Premier Foods tops the charts
29th Nov 2011 15:52
After its recent dramatic falls in its share price, Premier Foods continued to build on the 28% gains it has made over the past month. Spread betting pioneer IG Group was also on the up after it saw a high level of client activity in the second quarter of its financial year, continuing the trend s
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