London open: Stocks fall as markets await Carney's forward guidance
7th Aug 2013 08:31
Markets opened with moderate losses on Wednesday morning as investors turned nervous ahead of the Bank of England's inflation report, the first under the governorship of Mark Carney. The heavyweight mining sector was again providing a drag on the FTSE 100 as metals prices fell, while a number of b
Read moreMonday broker round-up UPDATE
17th Jun 2013 07:21
Antofagasta: UBS reduces target price from 1140p to 1050p, while upgrading from neutral to buy. ARM Holdings: Analysts at Numis have cut their view on the shares to reduce from hold. Associated British Foods: Nomura cuts target price from 1800p to 1650p downgrading to reduce. Atkins: Jefferies u
Read moreFTSE 250 movers: Resources lead the rise after recent slump
14th Jun 2013 15:05
Resource stocks were making advancing strongly on the FTSE 250 on Friday as the sector rebounded after a turbulent week owing to the wider market volatility. Oil explorer Afren led the risers with a gain of nearly 9.0% as West Texas crude oil prices rose to a nine-month high of $98.02 a barrel (up
Read moreFTSE 250 movers: Home Retail slumps as Argos misses forecasts
13th Jun 2013 14:42
Home Retail saw shares sink on Thursday after the first-quarter underlying growth figures at its Argos chain missed forecasts. Like-for-like (LFL) sales increased by just 1.9 per cent in the 13 weeks to June 1st, well below the 3.0 per cent expected by analysts. LFL growth at the smaller Homebase di
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreMonday broker round-up UPDATE
3rd Jun 2013 07:22
Anglo Pacific Group: Finncap cuts target price from 320p to 279p staying with its buy recommendation. Ashtead Group: Citi takes target price from 660p to 750p and maintains a buy recommendation. Centrica: Berenberg ups target price from 370p to 380p keeping a hold recommendation. Coal of Afica: I
Read moreSunday share tips: Pennon, GKN, De La Rue
26th May 2013 16:45
Shares of UK water company Pennon are the least likely bid target within the sector. However, prospects for M&A will help to put a floor under the shares. The stock has been punished due to poor pricing for recyclate - recycled material - and following a profit warning last year at its unit dedicate
Read morePennon Group reports fall in annual profits
23rd May 2013 08:23
Pennon Group's annual pre-tax profits fell 1.1 per cent to 198.2m pounds reflecting the weak performance of its recycling business. The British water utility and waste management company reported a 9.9% fall in earnings per share to 42.6p for the year to end of March. Its waste and recycling divis
Read moreSector movers: Water stocks lift utilities higher
20th May 2013 14:09
Utilities stock were performing well on Monday afternoon, continuing their impressive year-to-date rise, after some upbeat comments about the UK water sector from UBS. "Compared to other low-risk inflation-protected returns the UK water sector is currently highly attractive even without financial r
Read moreLondon open: Markets flat after strong run, but Severn Trent soars
14th May 2013 08:19
Strong gains for Severn Trent and other utility providers helped offset weakness elsewhere on Tuesday morning as the FTSE 100 paused for breath following an eight-day winning streak. "European markets moved forward modestly today shunning a mixed trading session in Asian stock markets overnight as
Read moreBroker snap: UBS downgrades United Utilities on regulatory risk
26th Apr 2013 11:38
UBS has downgraded its rating for United Utilities from 'buy' to 'neutral' on the back of its negative exposure to regulator change. "We believe the UK water sub-sector remains attractive in the current macro environment, despite regulatory change and a likely cut to allowed returns," UBS said in a
Read moreFTSE 250 movers: Supergroup rises on on Investec note
3rd Apr 2013 15:38
Supergroup shares were boosted by Investec, which initated its coverage of the stock with a target price of 843p and a buy recommendation. Pennon Group was rising on news that Abu Dhabi Investment Authority is reportedly considering a bid for the company's South West Water. Ashtead Group got a b
Read morePennon Group approached for takeover bid for South West Water
3rd Apr 2013 09:47
Abu Dhabi Investment Authority is reportedly considering a bid for Pennon Group's South West Water. The sovereign wealth fund is said to be preparing a cash bid of up to 775p a share for the group, according to the Daily Mail on Wednesday. Pennon's underperforming waste water management business
Read moreFriday broker round-up UPDATE
22nd Mar 2013 08:48
Afren: Nomura shifts target price from 175p to 180p keeping a neutral rating. ASOS: Nomura increases target price from 2000p to 2630p, while reiterating a neutral rating. Betfair: Panmure Gordon takes target price from 761p to 813p and leaves its buy recommendation unchanged. Brewin Dolphin Holdi
Read moreDrummond to retire as CEO of Pennon subsidiary Viridor
13th Mar 2013 10:40
FTSE 250-listed water, waste management and renewable energy company Pennon Group has announced the intended retirement of Colin Drummond, the Chief Executive Officer of its subsidiary Viridor and an Executive Director of Pennon Group. Drummond will take up the position of Non-executive Chairman o
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