Broker tips: Tullow Oil, RBS, Premier Foods
1st Apr 2011 12:42
Citigroup has trimmed its price target on Tullow Oil to reflect the lower than expected price the oil group secured when it sold two-thirds of its Ugandan acreage to French oil group Total and China's CNOOC. It now has a 1,590p target price on the stock, down from 1,650 previously. It keeps its "ho
Read moreBroker snap: Premier Foods turnaround impresses Morgan Stanley
1st Apr 2011 11:46
Morgan Stanley has lifted its rating on Premier Foods praising the Hovis bread and Branston pickle maker's efforts to tackle its balance sheet issues. It now has an "over-weight" rating on Premier, from "equal-weight" previously. Morgan Stanley has a 40p price target on the company, which trades on
Read moreGreencore bows out of Northern Foods chase
9th Mar 2011 15:46
Irish food group Greencore has waved the white flag in its battle with Boparan Holdings for control of Goodfellas pizza and Fox's biscuits maker Northern Foods. The Irish ready meals provider had agreed a merger with Northern Foods in November 2010 only to see the wedding gatecrashed by food magnat
Read moreFTSE 250 movers: Premier Foods extends gains
16th Feb 2011 14:36
Premier Foods is extending gains on yesterday's results after it announced that net debt fell £103m over the course of the year to £1,261m. However, total sales in 2010 eased to £2.57bn, from £2.66bn in 2009, a fall of 2.5%. Not far behind is Morgan Crucible, which set itself a target of doubling u
Read moreWednesday tips round-up: British Land, Premier Foods, Micro Focus...
16th Feb 2011 06:38
More good news from British Land, with third-quarter results that had analysts gushing. The property company showed underlying portfolio growth of 2.3% (to £9.3bn) in the third quarter, comfortably ahead of the 1.2% and the 1.4% in the first and second quarters respectively. The shares are trading
Read moreLondon close: Late rally not enough
15th Feb 2011 16:44
Weakness in the US sent shares into the red and a slight rally in late trading failed to lift the FTSE 100 into positive territory. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Ex
Read moreFTSE 250 movers: Micro Focus shares fall 28%
15th Feb 2011 16:09
Shares in Micro Focus took a major tumble, losing almost a third, after the business software specialist reported third quarter revenues that came in well short of expectations. The group will take a restructuring hit of between $14m and $18m in the final quarter of this year after the "disappointi
Read moreLondon afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreLondon midday: FTSE 100 little changed
15th Feb 2011 12:09
Shares are still seeking direction in spite of some notable movements in both directions. Barclays has moved ahead after results. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010
Read morePremier Foods getting to grips with debt
15th Feb 2011 07:45
Heavily indebted foods group Premier Foods took a break from selling off parts of its business to announce it fell into the red in 2010, though there was some good news on the debt reduction front. Total sales in 2010 eased to £2,567m from £2,661m in 2009, a fall of 3.5%. Sales volumes fell 2.7% o
Read moreLondon close: Late gains for FTSE 100
8th Feb 2011 16:59
The top share index closed with good gains after a late spurt. It was a see-saw day for miners after China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point to 3%. Mining giant Xstrata started the say well after r
Read moreLondon afternoon: Inmarsat takes flight
8th Feb 2011 14:40
Though miners remain a drag on the index following the Chinese interest rate hike, Footsie struggled back into positive territory over the lunch time session. China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point
Read morePremier Foods sells canned ops for £182m
8th Feb 2011 07:37
Hovis to Branston pickle group Premier Foods has sold its canned foods businesses to Princes Limited for £182m, the second major disposal in a fortnight for the debt laden group. For the year ended December 2010, the canned food business is expected to have revenues of £334.2m, underlying earnings
Read moreSector movers: Premier Foods lower after yesterday's sale
25th Jan 2011 12:50
The food producing and processing sector is lower Tuesday after a busy day yesterday. Premier Foods, whose most famous brands include Hovis bread and Sharwood's cooking sauces, announced Monday that it has sold its vegetarian foods business to a private equity consortium for £205m as it seeks to re
Read moreTuesday tips round-up: Sportech, Premier Foods, All Leisure...
25th Jan 2011 06:46
Yesterday's trading statement from pools company Sportech showed a company in decent health, with earnings set to be in line, while (highish) debt has slowly been coming down. A bid for the Tote could light a fire under the operation, although there's a crowded field of bidders so don't hold your br
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