London close: Rally falls short
4th Aug 2010 16:50
The FTSE 100 briefly made it into positive territory in the afternoon session but that only lured out more sellers and the blue-chip index closed slightly down on the day. Shares in Next remained in the doghouse all day, not so much because of the performance in the first half of its financial yea
Read moreSector movers: Investors gobble up food stocks
4th Aug 2010 15:22
Rising wheat prices have given companies that use the commodity plenty of food for thought lately, but Premier Foods, the maker of Hovis bread, is in demand today after first half results. The stock is leading the food producers sector higher. Pre-tax losses for continuing operations widened to £54
Read moreFTSE 250 movers: Salamander under pressure
4th Aug 2010 15:21
Salamander Energy is today's heaviest faller. The oil explorer has been hit with a double dose of bad news as it's had to restate reserves for the Kambuna field, offshore North Sumatra Indonesia, while a well in Lao PDR turned up dry. Carpetright is taking a bit of a trampling after sales fell duri
Read moreLondon midday: Stocks start to recover
4th Aug 2010 12:08
Leading share prices have come off the bottom but the FTSE 100 remains in arrears, following mixed news on the corporate front. Shares in Next are sharply lower. The fashion retailer has noticed a 'cooling' in consumers' demand in recent months, but still expects profits this year to rise by betwee
Read morePremier Foods cautious as wheat prices surge
4th Aug 2010 07:14
Premier Foods warned that a surge in wheat prices in the past month means second half profit at its Hovis division is unlikely to match levels seen in 2009. Severe drought in Russia, one of the biggest exporters of the grain, has pushed prices up nearly 50%. Gary Sharkey, head of wheat procurement
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
2nd Aug 2010 13:14
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1214 GMT [Dow Jones] Investec downgrades Premier Foods (PFD.LN) to hold from buy and cuts the price target to 21p from 33p
Read moreMARKET TALK: Investec Downgrades Premier Foods To Hold Vs Buy
2nd Aug 2010 13:14
1214 GMT [Dow Jones] Investec downgrades Premier Foods (PFD.LN) to hold from buy and cuts the price target to 21p from 33p ahead of the 2Q results. Following a weak 1Q, says the 2Q shows few signs of improvement. Says: "Hopes of a much-needed 2H recovery look to be fading." Expects profits in bread
Read moreUPDATE: Food M&A Roars Ahead, Bucking Broader Deal Timidity
28th Jul 2010 16:32
(Adds comment.) By Jessica Hodgson and Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Against a backdrop of tepid M&A activity, deal-making in the European food sector over the past two quarters has been piping hot. Deals in the food sector were responsible for almost thr
Read moreFOCUS: Food M&A Roars Ahead, Bucking Broader Deal Timidity
28th Jul 2010 12:55
By Jessica Hodgson and Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Against a backdrop of tepid M&A activity, deal-making in the European food sector over the past two quarters has been piping hot. Deals in the food sector were responsible for almost three-quarters of all c
Read moreMARKET TALK: Exane BNP Lowers Premier Foods To Underperform
26th Jul 2010 13:57
1257 GMT [Dow Jones] Exane BNP Paribas cuts Premier Foods (PFD.LN) to underperform from neutral and cuts target price to 17p from 28p. Says that while Premier does generate impressive underlying cash flows, when placed against the huge liabilities that it faces, "we believe that the residual value f
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
26th Jul 2010 13:57
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1257 GMT [Dow Jones] Exane BNP Paribas cuts Premier Foods (PFD.LN) to underperform from neutral and cuts target price to 1
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
13th Jul 2010 08:10
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0710 GMT [Dow Jones] Goldman Sachs downgrades Premier Foods (PFD.LN) to neutral from buy and cuts the price target to 22.5
Read moreMARKET TALK: Goldman Sachs Cuts Premier Foods To Neutral
13th Jul 2010 08:10
0710 GMT [Dow Jones] Goldman Sachs downgrades Premier Foods (PFD.LN) to neutral from buy and cuts the price target to 22.5p from 51p. Sees few near-term catalysts for a re-rating. Thinks concerns over Premier's leverage and pension liability will continue to weigh on the shares. Notes that since bei
Read morePremier Foods appoints Kraft veteran
30th Jun 2010 13:19
Premier Foods has appointed former Kraft veteran Ronnie Bell to become its new chairman from October. Bell, who spent 30-years at the US group, replaces David Kappler, who has been chairman since 2004. Bell takes over after a torrid year for the Hovis bread maker that culminated in £400m rescue rig
Read moreMARKET TALK: Shore Keeps Premier Foods At Sell
30th Jun 2010 08:08
0708 GMT [Dow Jones] Premier Foods (PFD.LN) appoints a new chairman, Ronnie Bell - a former executive of Kraft (KFT) Europe and a until today a non-executive director of Northern Foods (NFDS.LN). However, Shore Capital keeps its sell rating, saying its investment thesis remains intact: Premier Foods
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