Broker snap: JPM turns neutral on Premier Foods
1st Dec 2009 13:12
Premier Foods faces a tough 2010, reckons JPMorgan Chase, but based on recent underperformance of the shares the US broker has upgraded its rating on the stock. JPMorgan (JPM) now rates the shares as 'neutral', having previously advised clients to be underweight in the stock. The upgrade is on valu
Read moreFriday tips round-up: WH Smith, Costain, SABMiller
16th Oct 2009 06:45
WH Smith is no longer just a defensive play, as the innovative ways that chief executive Kate Swann has found to expand the format into workplaces shows. The yield is a respectable 3.5%, but trading on 11 times next year's earnings - before yesterday's rise - the shares are at a discount of about 1
Read moreLondon close: Blue chips falter after recent strength
15th Oct 2009 16:38
London closed lower as bumper profits at US investment bank Goldman Sachs failed to spark Wall Street, which has retreated from the 10,000 mark hit last night. Goldman Sachs reported quarterly earnings per share of $5.25 versus the $4.24 predicted. Revenue of $12.37bn was much better than the $11.0
Read moreLondon afternoon: Stocks stuck in red
15th Oct 2009 15:13
Bumper profits at US investment bank Goldman Sachs have failed to ignite fresh buying interest on Wall Street, leaving London weaker as resource plays struggle. Goldman Sachs pitched in with forecast-busting third quarter numbers, but that's not been enough to extend the Dow's gains above 10,000. T
Read moreLondon midday: Sainsbury's soars on Qatar rumours
15th Oct 2009 12:12
J Sainsbury is the stand-out riser so far on talk that the Qatar investors in the supermarket are looking to build on their current 26% stake, but it is no more than rumours so far. Otherwise Footsie is marking time, but that could change after bumper figures from Goldman Sachs. The banking giant r
Read moreLondon open: Shares add to stellar gains
15th Oct 2009 08:19
London's top stocks are adding to yesterday's gains in early trading after the Dow Jones closed above the key 10,000 barrier for the first time in over a year. Miner Xstrata said today that it has no intention of making an offer for rival Anglo American. The announcement came after a put-up or shu
Read morePremier Foods profit in line
15th Oct 2009 07:28
Hovis to Branston Pickle maker Premier Foods said it remains confident of achieving full year pre-tax profits within the range of market expectations. The range of market expectations for adjusted profit before tax for 2009 is £162m-£186m, the group said. Sales were up 1% in third quarter and up 3
Read morePremier Foods picks Jim Smart as FD
12th Oct 2009 14:09
Premier Foods has got a new finance boss, former chief number cruncher at Friends Provident and Boots, Jim Smart. The Hovis to Branston Pickle maker said Smart will start his new role next week. "I am delighted that Jim has accepted our invitation to join the board," said Premier chairman David
Read moreFTSE 250 movers: Whitbread in the lead
7th Sep 2009 11:31
Leisure group Whitbread expects profits this year to be at the higher end of forecasts as the rate of decline at hotel chain Premier Inns steadied in the three months to 13 August, while coffee chain Costa continued to push ahead. Cheery broker sentiment boosts Sports Direct. Numis, which thinks ne
Read moreLondon close: Stocks pushed lower
5th Aug 2009 17:00
London's top stocks finished in the red as a poor start in the US and ex-dividends eventually ate into the early gains. US shares made a dull start on worse than expected job losses in July according to the private firm ADP. It said 371,000 people were laid-off compared to estimates of 350,000. L
Read moreLondon afternoon: Blue chips hang onto gains
5th Aug 2009 14:27
Footsie is holding its own in the afternoon session with Lloyds soaring despite a massive interim loss. US shares have made a dull start on worse than expected job losses in July according to the private firm ADP. It said 371,000 people were laid-off compared to estimates of 350,000. The survey is
Read moreBroker tips: Carpetright, BSkyB, Premier Foods
5th Aug 2009 13:15
A return to like-for-like sales growth at Carpetright's UK operations has prompted broker KBC Peel Hunt to place its price target on the carpet retailer under review. Shares in Carpetright jumped after it said total sales in the UK and Ireland climbed by 7.5%, while like-for-like sales were up an '
Read moreBroker snap: Premier Foods reassures but unexciting
5th Aug 2009 12:37
Hovis to Branston pickle maker Premier Foods first half results provided investors with some reassurance, headline numbers emerging in line with expectations and guidance indicating that full-year profit expectations will be met, Charles Stanley says. Unlike many food producers, however, who are en
Read moreLondon midday: Lloyds pulls Footsie higher
5th Aug 2009 11:24
Footsie is in the blue now as financials push ahead again on the back of Lloyds Banking, which is motoring forward. Lloyds Banking shares are up over 13% as investors bet that the worst of the bad debts that caused an underlying loss of £4bn in the half year to June are passed. Impairment charges
Read moreLondon open: Lloyds gives market a boost
5th Aug 2009 08:39
Footsie has shrugged off a host of ex-dividends to move gently ahead with Lloyds and British Airways leading the way. Lloyds Banking posted an underlying loss of £4bn in the half year to June as impairment charges jumped by nearly £11bn to £13.4bn reflecting huge write-downs of HBOS's commercial pr
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