Reckitt Benkiser completes agreement with Bristol-Myers Squibb
20th May 2013 07:40
Reckitt Benkiser has completed its agreement with Bristol-Myers Squibb Company (BMS), having received the necessary approvals. As reported back in February, Reckitt signed a three-year collaboration agreement under which it will license a number of Latin American consumer health care brands from B
Read moreTelecity CEO sells shares as update impresses
7th May 2013 16:19
Michael Tobin, the Chief Executive Officer of data centre operator Telecity, has sold 124,105 shares following the exercise of options over 125,105 shares, taking his stake to 666,000. The shares were traded in at 949.50p each, earning the director in the region of £1.18m. The deal was made on t
Read moreGreggs Chairman shows faith after reporting reduced footfall
2nd May 2013 16:14
The Chairman of Greggs, the FTSE 250 baking group, on Thursday purchased 2,500 shares just a few days after the company warned investors profits are likely to come in at the lower end of the range of market expectations. Derek Netherton's £10,000 purchase saw him buy the shares at 399.9p each, and
Read moreLondon close: Gains erased as US data disappoints
22nd Apr 2013 16:21
After a strong start, the FTSE 100 slumped into the red by the close on Monday afternoon as disappointing data and corporate earnings from the US dampened the positive mood. Nevertheless, markets on the whole gave a rather muted reaction to Friday's move by Fitch to strip the UK of it prized 'AAA'
Read moreLondon midday: Banks provide a lift as markets shrug off UK downgrade
22nd Apr 2013 11:20
Markets were making decent gains on Monday morning, shrugging off the news that Fitch had stripped the UK of it prized 'AAA' credit rating, as investors went bargain hunting following some heavy falls the week before. Despite trimming losses after a decent rebound on Friday, the FTSE 100 still fell
Read moreBroker tips: Lloyds, Standard Life, Reckitt
22nd Apr 2013 10:58
Investec has kept its 'hold' recommendation and 50p target price for UK banking group Lloyds, saying that it unwilling to turn positive on the stock ahead of its first-quarter trading update on April 30th. "Near-term, the dilutive trickle of new equity issuance continues, while the medium-term reve
Read moreBroker snap: Canaccord hikes Reckitt target but valuation full
22nd Apr 2013 10:21
Canaccord Genuity has hiked its target price for consumer products group Reckitt Benckiser from 3,425p to 4,100p after a decent first quarter, but has kept its 'sell' rating for the stock. First-quarter sales in the core business were up 6.0%, in line with Canaccord's expectations, helped by strong
Read moreLondon open: Financials lead markets higher early on
22nd Apr 2013 08:16
Equities were making decent gains on Monday morning with financial stocks on the rise in London as markets attempted to claw their way back from heavy losses last week. The FTSE 100 fell a total of 97.8 points last week, losing 1.53% of its value, as concerns about global economic growth and a sell
Read moreCold and flu season boosts demand for Strepsils at Reckitt Benckiser
22nd Apr 2013 07:12
Consumer products giant Reckitt Benckiser reported decent growth in the first quarter with its Health division performing strongly as a more favourable cold and flu season increased the demand for Strepsils, Mucinex and certain Nurofen products. Net revenue tolled £2,517m in the first three months
Read moreFTSE 100 movers: Aviva dives after slashing dividend
7th Mar 2013 15:04
Insurance giant Aviva was forced to slash to dividend after swinging into the red in 2012, after taking a 3.3bn-pound write-down on a disposal in the US. Aviva also said that its overall situation does not warrant bonuses for executive directors for 2012 or pay rises for 2013. Shares dropped sharply
Read moreLondon close: Markets volatile after mixed news on Italian election
25th Feb 2013 17:11
The FTSE 100 saw a volatile end to the trading session on Monday as a number of conflicting news reports emerged from the Italian exit polls. Milan's FTSE MIB index gained as much as 4.0% earlier in the day after it was rumoured that centre-left Pier Luigi Bersani could win a majority in both the l
Read moreReckitt Benckiser falls after losing drug exclusivity - UPDATE
25th Feb 2013 16:16
Shares in Reckitt Benckiser were hammered on Monday by the news that it has lost exclusivity over its SUBOXONE tablets after the Food and Drug Administration (FDA) gave two drug manufacturers the green light to produce generic versions of the drug. The RB Pharmaceuticals business (RBP) had filed a
Read moreFTSE 100 movers: Banks lead the race
25th Feb 2013 14:36
Royal Bank of Scotland topped the FTSE 100 on Monday following reports it was poised to announce a plan to float part of its US business. It comes as the state-backed lender looks for ways to raise capital and restructure ahead of planned reprivatisation. Barclays followed closely behind as minorit
Read moreLondon midday: Banks lift markets higher despite UK downgrade
25th Feb 2013 11:47
The FTSE 100 was making decent gains on Monday morning in spite of Moody's stripping the UK of its prized 'AAA' credit rating, as sentiment was lifted by central-bank stimulus speculation in the US and Japan. Over the last few days, Federal Reserve Chairman Ben Bernanke showed his commitment to the
Read moreBroker tips: Reckitt, StanChart, AB Foods
25th Feb 2013 11:18
Investec has downgraded its rating for consumer products giant Reckitt Benckiser from 'hold' to 'sell' after US regulators called time on the company's exclusivity with its SUBOXONE product. Investec analyst Martin Deboo said that the news will likely be negative for the shares, with tablets in the
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