Broker snap: RBS downgrades Premier Foods to hold
10th Oct 2011 12:31
RBS has downgraded its rating on Premier Foods from buy to hold and cut its target price by a whopping 84% following the group's profit warning on Friday. The food manufacturer revealed that third quarter results were "significantly below our expectations" and said that full-year trading profits w
Read moreLondon midday: Eurozone hopes lift stocks
10th Oct 2011 12:09
Hopes that Eurozone heavyweights France and Germany will be able to sort out the crisis in the single currency zone have sent shares higher. German chancellor Angela Merkel and French prime minister Nicolas Sarkozy have agreed on a "long-lasting, complete package" to battle the region's ongoing deb
Read moreUPDATE: Monday broker round-up
10th Oct 2011 09:08
Antofagasta: Morgan Stanley downgrades to 'underweight' from 'equalweight'. Capita: Galvan Research and Trading gives buy rating and 760p target. Premier Oil: HSBC upgrades to 'overweight' from 'equalweight'. GKN: Credit Suisse cuts target to 205p from 243p. IMI: Credit Suisse cuts target to 67
Read moreLondon open: Modest gains on hopes for Eurozone
10th Oct 2011 08:30
The Footsie edged higher in early trading on Monday, helped by developments in the Eurozone at the weekend. German chancellor Angela Merkel and French prime minister Nicolas Sarkozy have agreed on a "long-lasting, complete package" to battle the region's ongoing debt crisis, but specific details ar
Read moreLondon close: Dull end to volatile week
7th Oct 2011 17:28
UK stocks reacted positively to better than expected US jobs data, with the Footsie recovering from a negative position to a positive one, but as the day drew to a close, traders quietly banked profits ahead of the week-end. Though the Footsie ended the day with only a modest rise, it capped a stro
Read moreFTSE 250 Movers: Investors warned off Premier Foods
7th Oct 2011 15:02
Investors didn't hang about when Investec warned them to avoid Premier Food's stock, sending it tumbling more than 37%. Following Premier Foods' full-year profit warning on Friday, Investec placed its hold rating and 15p target price under review. In an unscheduled third quarter interim manageme
Read moreLondon midday: Stocks tread water ahead of US jobs data
7th Oct 2011 12:46
Losses are reasonably modest considering that some heavyweights from the banking sector are in the doldrums following a downgrade of 12 financial institutions by ratings agency Moody's. Stocks seem to be treading water ahead of a key employment report due out in the US before the opening bell in N
Read moreBroker tips: Smiths Group, Premier Foods, Hays
7th Oct 2011 12:42
Nomura has downgraded Smiths Group, the medical devices and airport scanner maker, from neutral to reduce, saying that the firm is "likely to grow slower than other companies in our coverage universe". "Smiths Group is a conglomerate of five businesses and its end market exposure is one of the most
Read moreBroker snap: Investec puts Premier Foods on review after profit warning
7th Oct 2011 12:35
Following Premier Foods' full-year profit warning on Friday - which drove its share price down 37% - Investec has placed its hold rating and 15p target price under review but warned investors to avoid the stock. In an unscheduled third quarter interim management statement, the food manufacturer rev
Read moreUPDATE: Friday broker round-up
7th Oct 2011 09:28
Premier Foods: Credit Suisse cuts target to 8p from 25p. Compass: Credit Suisse keeps at outperform. EnCore: Royal Bank of Scotland raises target to 70p from 46p. Mouchel: Royal Bank of Scotland lowers target price to 18p form 75p. Hays: UBS keeps at buy, lowers target to 100p from 105p. Smi
Read moreLondon open: Banks take a hit after Moody's downgrade
7th Oct 2011 08:32
Equities took a knock in early trading after Moody's dampened sentiment with the downgrade of 12 UK financial institutions. Stocks were expected to extend gains made over the last two days on the back of hopes for the struggling Eurozone. BANKS LEAD THE FALLERS The banks were the worst performers
Read moreLondon pre-open: Premier Foods issues profits warning
7th Oct 2011 07:22
It is looking like a case of 'after the Lord Mayor's Show' this morning, with share prices set to dawdle higher after the crash-bang excitement of yesterday's trading session, when the Bank of England's decision to resume its quantitative easing programme earlier and harder than many expected had in
Read moreUPDATE: Premier Foods warns on full-year profits
7th Oct 2011 07:19
Premier Foods, the FTSE 250 food manufacturer which has been struggling with rising raw material costs, has admitted that its third quarter results are "significantly below our expectations". As such, the group warned that full-year trading profits will be below market expectations. This follows it
Read moreSector movers: Retailers rise after results impress
8th Sep 2011 16:08
The retailers were in demand on Thursday afternoon, defying a generally gloomy outlook for the UK consumer, after some pleasing results from giants Morrison and Home Retail Group. Supermarket chain Morrison's focus on value - and longer opening hours - helped it post sales and profits ahead of expe
Read moreFTSE 250 Movers: Premier Foods' boss clocks on early
11th Aug 2011 12:19
The man tasked with turning around the fortunes of Premier Foods will begin work two weeks early, a move which saw the group's share price soar more than 9%. The manufacturer of household brands such as Hovis Bread, Branston Pickle and Sharwoods announced in July that Mike Clarke would take over f
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