London close: Stocks erase losses after late US-inspired rally
2nd Jul 2013 16:34
A strong start on Wall Street helped the FTSE 100 erase its earlier losses on Tuesday, though markets still ended flat ahead of some key 'risk events' expected later on in the week. After hitting an intraday low of 6,268 earlier on, London's benchmark index rallied strongly in afternoon trade to fi
Read moreSector movers: PZ Cussons, Burberry lift personal goods sector higher
2nd Jul 2013 15:18
Decent gains from consumer-products manufacturer PZ Cussons (PZC) and British luxury brand Burberry were lifting the personal goods sector higher on Tuesday afternoon. The £42.2m acquisition of baby-foods group Rafferty's Garden by PZC was well-received by the market today, with shares in the Imper
Read moreFTSE 250 movers: Inmarsat hit by concerns over delays to GX launch
2nd Jul 2013 14:07
Satellite group Inmarsat was a heavy faller today after negative readacross from a failed rocket launch by one of its partners. ILS, the launch partner for Inmarsat's Global Xpress (GX) airline broadband project, was involved in an explosion of a Proton rocket, the third failure over the last year r
Read moreLondon midday: Markets pull back ahead of key risk events
2nd Jul 2013 11:32
The FTSE 100 was trading firmly lower on Tuesday morning with profit-taking evident after a strong performance over the past week, as investors gear up for central-bank meetings and key US data later in the week. London's benchmark index jumped 1.5% yesterday as it continued to rebound strongly af
Read moreBroker tips: Persimmon, Berendsen, PZ Cussons
2nd Jul 2013 11:10
Jefferies has kept its 'hold' rating and 1,162p target price for UK house builder Persimmon despite an upbeat second-quarter trading update, saying that the stock's valuation looks 'full'. Analyst Anthony Codling said that the statement was "robust" and backed up its view that the government's stim
Read morePZ Cussons acquires baby food brand Rafferty's Garden
2nd Jul 2013 10:46
Consumer products group PZ Cussons has acquired Australian baby food brand Rafferty's Garden from private equity firm Anacacia for 42.2m pounds. Rafferty's Garden has a 40% share of the wet baby food market and has growing shares in the infant dry and snacks market. Panmure Gordon upgraded its ra
Read moreBroker snap: Panmure upgrades PZ Cussons after Rafferty's Garden acquisition
2nd Jul 2013 09:49
Panmure Gordon has upgraded its rating for consumer-products group PZ Cussons (PZC) from 'hold' to 'buy' after the company announced the purchase of Rafferty's Garden on Tuesday. "The shares have pulled back lately to around the 350p level from c.400p, and we think this represents an attractive ent
Read moreTuesday broker round-up UPDATE
2nd Jul 2013 08:24
Amara Mining: Westhouse Securities raises target price from 60p to 90p and stays with its buy recommendation. Canaccord Genuity lowers target price from 50p to 40p maintaining its buy recommendation. Anite Group: Panmure Gordon shifts target price from 171p to 177p and reiterates a buy recommendati
Read morePZ Cussons makes a splash with return to profits
13th Jun 2013 16:18
Consumer products group PZ Cussons revealed it had enjoyed a profitable return to growth in its recently completed financial year. The owner of such bathroom fixtures as Imperial Leather, Carex, Original Source said its financial position remained strong with good cash generation and only a small
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 moreWednesday broker round-up UPDATE
22nd May 2013 09:37
Afferro Mining: Panmure Gordon reduces target price from 279p to 100p, while keeping its buy recommendation. Amara Mining: Westhouse Securities cuts target price from 110p to 90p retaining a buy recommendation. Amlin: Westhouse Securities moves target price from 455p to 470p and upgrades to add.
Read moreFriday tips round-up: Ashmore Group, PZ Cussons, Hays
12th Apr 2013 15:47
Emerging-market focused fund manager Ashmore Group startled the market yesterday when it released its latest figures for its funds under management (FuM) in the first quarter. These raced past analysts' expectations, rising by a net $6.7bn, on the back of strong inflows from sovereign wealth funds,
Read moreSector movers: PZ Cussons, Burberry lift personal goods sector higher
11th Apr 2013 14:08
Decent gains by PZ Cussons and Burberry lifted the personal goods sector to the top of the pile on Thursday. PZ Cussons, the company famous for its Imperial Leather, Carex and Original Source brands, saw shares rise 2.4% to 396.2p in afternoon trade after saying that it still expects a return to pr
Read morePZ Cussons says trading mixed due to 'challenging' conditions
11th Apr 2013 07:30
Cosmetics and home-products group PZ Cussons said it still expects a return to profitable growth this year despite 'challenging' trading conditions in most of its markets. The company, famous for cosmetics and home-products brands, said in a trading update on Thursday that its performance in the th
Read moreThursday broker round-up UPDATE
11th Apr 2013 07:21
African Minerals: Deutsche Bank reduces target price from 594p to 586p keeping a buy recommendation. Investec cuts target price from 438p to 411p, while its buy recommendation remains unchanged. Associated British Foods: Societe Generale increases target price from 1820p to 1900p, while downgrading
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