Tuesday tips round-up: Smith & Nephew, Persimmon, Ocado...
11th Jan 2011 06:39
Rather than Johnson & Johnson, the most attractive option for Smith & Nephew investors could be a straight take-out by the likes of the American pharmaceutical giant Merck at whatever price the board could wrest from a bidder. Speculative investors such as hedge funds, who would push for a deal, a
Read moreLondon close: Miners hold back FTSE 100
10th Jan 2011 17:01
The top share index was firmly in negative territory at the close of trading, despite M&A excitement concerning Smith & Nephew The joint replacement specialist jumped more than 10% following reports it turned down a bid approach from US rival Johnson & Johnson just before Christmas. Sticking with
Read moreLondon afternoon: Miners a drag
10th Jan 2011 14:20
Footsie moved sideways over the lunch time trading session. Mining stocks continue to weigh the blue-chip index down, but oil stocks provide some cheer. A decline in copper imports into commodity-hungry China sent prices for the red metal lower. Kazakhmys, which transports copper from its Kazakhsta
Read moreBroker tips: Persimmon, Debenhams, Autonomy
10th Jan 2011 13:29
After a great trading update by housebuilder Persimmon, Panmure Gordon ups its 2010 forecasts, while leaving 2011 estimates where they are, as the short-term market outlook remains uncertain. The group reported a robust update with pre-tax profits expected to be at the top of the £75m-96m range. Th
Read moreLondon midday: FTSE 100 stuck lower
10th Jan 2011 12:11
Shares remain rooted in negative territory in spite of a big jump from artificial joint specialist Smith & Nephew following reports of an offer from Johnson & Johnson. Miners are holding back the top share index. A decline in copper imports into commodity-hungry China sent prices for the red metal
Read moreBroker snap: Profits raised at Persimmon
10th Jan 2011 10:54
After a great trading update by housebuilder Persimmon, Panmure Gordon ups its 2010 forecasts, while leaving 2011 estimates where they are, as the short-term market outlook remains uncertain. The group reported a robust update with pre-tax profits expected to be at the top of the £75m-96m range. T
Read moreLondon open: Poor start to week
10th Jan 2011 08:23
A fresh round of takeover speculation and well-received numbers from Morrisons hasn't been enough to cancel losses across the mining sector. Artificial joint specialist Smith & Nephew rallied Monday following reports it turned down a bid approach from US rival Johnson & Johnson just before Christma
Read morePersimmon profits at 'top end'
10th Jan 2011 07:25
Underlying profits at housebuilder Persimmon will be at the top end of expectations, a good send off for chairman John White who's retiring after 32 years at the company. A "significant" increase in profit before tax, goodwill charges and exceptional items has propelled the figure towards the upper
Read moreFriday preview: Non-farm payrolls, Persimmon
6th Jan 2011 17:23
US non-farm payrolls data dominates tomorrow's announcements with economists predicting more evidence of a burgeoning US economic recovery. Consensus forecasts are for about 150,000 jobs to have been added last month, following a 39,000 increase in November. But forecasters may have been tempted
Read moreLondon close: One-month high for Footsie
13th Dec 2010 16:33
More than £2bn of merger and acquisition activity got pulses racing in City dealing rooms, combining with strong miners and gains on Wall Street to send London to its highest in a month. Oilfield services group Wood Group is forking out $955m (£607m) for rival PSN, which it will merge with its prod
Read moreLondon close: Footsie recovers as M&A action heats up
15th Nov 2010 16:37
The top share index snapped out of a weak start to finish in positive territory Monday as jitters over the Irish debt situation eased and bid speculation and company updates attracted attention. Shares in Invensys moved higher despite the engineering firm denying press reports that it has received
Read moreLondon afternoon: Bid activity keeps the pot bubbling
15th Nov 2010 14:07
A sprinkling of bid speculation is livening up markets this Monday, as traders wait for the Irish sovereign debt situation to play itself out. Shares in Invensys are higher despite the engineering firm denying press reports that it has received an approach. The company's chief executive Ulf Henrik
Read moreBroker tips: Persimmon, Cranswick, Majestic Wine
15th Nov 2010 12:54
KBC Peel Hunt, a persistent bear on housebuilders, notes that Persimmon's trading update has a "positive tone but weaker undertow", reflecting over-valued shares in a struggling housebuilding sector. The group saw unit sales since July total around 9,400, under the broker's figure of 9,700. KBC for
Read moreLondon midday: Footsie back in the blue
15th Nov 2010 12:07
Footsie is in positive territory now after an impressive rally that has been mostly powered by miners, though there's takeover talk in the oil sector. Premier Oil is doing its bit for the mid-cap index, racing to a new all-time high on talk that state-controlled KNOC, the Koreans who recently paid
Read moreBroker snap: Spike in price may be over for Persimmon
15th Nov 2010 11:57
KBC Peel Hunt, a persistent bear on housebuilders, notes that Persimmon's trading update has a "positive tone but weaker undertow", reflecting over-valued shares in a struggling housebuilding sector. The group saw unit sales since July total around 9,400, under the broker's figure of 9,700. KBC for
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