Pennon gets new finance boss
9th Sep 2014 07:52
UK water utility Pennon Group has announced that it is to have a new finance chief. Pennon, which owns South West Water (SWW) and waste group Viridor, said SWW's finance and regulatory director Susan Davy will replace group finance director and executive director David Dupont when he retires on 3
Read moreThursday tips round-up: Standard Chartered, Pennon
14th Aug 2014 08:31
Standard Chartered is under increased scrutiny from investors now that a decade-long run of record profits has just ended. During the past financial crisis the lender offered a rather unique value proposition. Its only links to the west were its UK listing and London headquarters. Furthermore, it ha
Read morePennon warns of profit hit from bill freeze
13th Aug 2014 07:55
South West Water (SWW) owner Pennon Group warned of a profit hit from a household bill freeze, but said strong financial performance was continuing and it expects to hit its regulatory targets for 2010-15. Pennon said an already announced decision to keep tariffs unchanged in 2014/15 would affect t
Read moreLondon pre-open: Geopolitics, Asian data to weigh on stocks ahead of BoE
13th Aug 2014 07:53
UK stocks are expected to open with small losses on Wednesday with investor risk appetite subdued ahead of the Bank of England's Inflation Report. Ongoing geopolitical concerns and a wave of economic data from Asia were also likely to be dampening sentiment in morning trade. City sources predict
Read moreFriday broker round-up UPDATE
1st Aug 2014 10:33
AstraZeneca: Deutsche Bank ups target price from 3950p to 4000p staying with its hold recommendation. Avacta: Numis places both its target price and its buy recommendation under review. Barclays: Berenberg upgrades from sell to hold with a target price of 220p. Bodycote: UBS shifts target price f
Read moreFriday broker round-up UPDATE
4th Jul 2014 12:12
Antofagasta: Morgan Stanley upgrades from underweight to equal-weight with a target price of 750p. AVEVA: Societe Generale initiates with a target price of 2650p and a buy recommendation. Balfour Beatty: Westhouse Securities cuts target price from 220p to 183p downgrading from neutral to sell. RBC
Read moreBroker tips: Anglo American, Petra Diamonds, Water stocks
13th Jun 2014 12:55
Credit Suisse has maintained a 'neutral' stance on Anglo American but has said that the potential wage settlement with employees at its platinum operations in South Africa would be a positive for the company after 20 weeks of strikes. However, the bank explained the importance of the offer, saying
Read moreUK water stocks offer low-risk returns, says Deutsche Bank
13th Jun 2014 11:00
UK water stocks Severn Trent, United Utilities and Pennon offer "low-risk returns", according to Deutsche Bank, which recommended investors to buy a basket of the three stocks despite their recent strong run. The bank has raised its target price for Severn Trent from 2,000p to 2,150p and for United
Read moreBroker tips: Tesco, Smith & Nephew, Pennon, Poundland
4th Jun 2014 12:24
Investors gave a mixed reaction to results from Tesco on Wednesday as a less-than-expected fall in first-quarter like-for-like (LFL) sales failed to stop the shares sinking into the red by mid-morning. Panmure Gordon Market Commentator David Buik said that despite coming in ahead of forecasts the 3
Read moreInvestors should buy Pennon on takeover hopes, says Deutsche
4th Jun 2014 11:44
The prospect of another wave of water industry takeovers should tempt investors to buy shares in South West Water (SWW) owner Pennon, says Deutsche Bank. Pennon and other listed UK water stocks offer attractive returns compared to low-risk UK and US regulated peers such as National Grid, the German
Read moreWednesday tips round-up; Pennon, Wolseley
4th Jun 2014 08:11
Pennon has the potential to be very profitable. Its South West Water unit is an oasis of tranquillity. Its reported pre-tax profits increased by 10.8% last year and its application for the next five-year regulatory period which starts in 2015 has been fast-tracked - in effect removing any regulatory
Read moreSector movers: Utility stocks sink as water group Pennon underwhelms
3rd Jun 2014 14:28
The gas, water and the multi-utilities sector was under the weather on Tuesday on the back of a poor reaction to the latest results from water utility and waste management group Pennon. Shares in Exeter-based Pennon, which owns South West Water (SWW), were down 3% at 760p in afternoon trade despite
Read moreFTSE 250 movers: Tullet Prebon jumps on CEO speculation
3rd Jun 2014 14:23
London-based interdealer broker Tullett Prebon jumped on speculation it could soon announce a successor to long-running Chief Executive Officer Terry Smith. According to reports, Smith, a well-known financial executive in the City, is thought to be planning to work full time at Fundsmith, the asset
Read moreLondon midday: Stocks slip on weak data as ECB speculation ramps up
3rd Jun 2014 11:59
- Pressure steps up on ECB to act - Eurozone inflation eased further in May - HSBC China manufacturing PMI disappoints - UK construction PMI misses estimates techMARK 2,817.91 -0.16% FTSE 100 6,837.71 -0.38% FTSE 250 16,010.39 -0.46% London's FTSE 100 was trading lower on Tuesday as investors reac
Read moreLondon open: Stocks retreat as investors await Eurozone inflation data
3rd Jun 2014 08:38
- Eurozone CPI in focus ahead of ECB meeting - HSBC China manufacturing PMI disappoints - Wolseley rises after Q3 results techMARK 2,816.21 -0.22% FTSE 100 6,847.06 -0.25% FTSE 250 16,009.90 -0.47% UK stocks retreated on Tuesday morning as investors adopted a cautious approach ahead of Eurozone in
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