London midday: Tesco and miners gain ahead of UK budget
5th Dec 2012 11:40
The FTSE 100 had come off its earlier highs but was still trading in positive territory by Wednesday lunchtime, as markets await the Autumn Statement from Chancellor of the Exchequer George Osborne. He is set to say: "In this Autumn Statement, we show that this coalition government is confronting t
Read moreLondon open: Stocks rise ahead of Osborne's Autumn Statement
5th Dec 2012 08:29
Equity markets rose on Wednesday morning after strong gains for Asian markets overnight with the focus in the UK turning to George Osborne ahead of his budget statement. "In a week dominated by Europe and the on-going to-ing and fro-ing in the US with respect to the fiscal cliff, markets will be tu
Read moreLondon midday: Tullow drops as Footsie edges higher
4th Dec 2012 11:38
UK stocks were making small gains by Tuesday lunchtime on the back of developments in the Eurozone, though the mood was cautious as budget uncertainty in the US continues to weigh on sentiment. The Ecofin is meeting today to agree to proposals on bank supervision and take stock of negotiations with
Read moreBroker tips: BP, Rio Tinto, TUI Travel
4th Dec 2012 10:59
Jefferies has retained its 'hold' rating and 450p target price for oil titan BP despite the stock trading at a large discount to the sector, saying that the business is 'yearning to be free' from the Macondo well disaster. "Post-Macondo it is evident that BP is evolving into a simpler and more oil
Read moreBroker snap: Credit Suisse upgrades forecasts for Rio Tinto
4th Dec 2012 09:50
Credit Suisse has reiterated its 'outperform' rating for mining giant Rio Tinto, saying that the group's cost determination is impressive. The broker has upgraded its earnings forecasts for this year and the next by 5% and 13%, respectively, on the back of cost savings, higher copper volumes and mi
Read moreLondon open: Stocks flat on US budget uncertainty
4th Dec 2012 08:32
UK stock markets opened tentatively on Tuesday morning with concerns over the US economy back in the spotlight following yesterday's disappointing manufacturing data and increasing worries about the 'fiscal cliff'. The FTSE 100 finished broadly flat yesterday after the US Institute for Supply Manag
Read moreTuesday broker round-up UPDATE
4th Dec 2012 07:35
Anite: Panmure Gordon moves target price from 163p to 165p; buy recommendation kept. Canaccord Genuity raises target price from 143p to 169p and maintains a buy recommendation. Ashtead: Seymour Pierce raises target price from 400p to 460p and reiterates its buy recommendation. Barclays: Credit Sui
Read moreMonday broker round-up UPDATE
3rd Dec 2012 07:16
ARM Holdings: Exane BNP Paribas upgrades from neutral to buy. Ashtead Group: Bank of America starts with a target price of 460p and a buy recommendation. AstraZaneca: Berenberg raises target price from 3080p to 3100p; hold recommendation kept. Balfour Beatty: Investec reduces target price from 21
Read moreSunday share tips: Assura, Rio Tinto, Smiths News
2nd Dec 2012 13:05
Porperty Group Assura has made mistakes in the past, such as an interest rate swap that went bad, the associated charges of which left a rather large crater in its interim income statement a year ago. That debacle also forced the outfit to carry out a rights issue. Yet that is now behind us, writes
Read moreLondon close: Stocks end the week in a cautious mood
30th Nov 2012 16:35
- Market pares gains by the close - Bundestag approves Greek aid - Eurozone jobless rate and US consumer spending disappoint UK stocks finished broadly flat on Friday, paring gains by the close of trade as markets headed into the weekend in a cautious mood on the back of uncertainty surrounding the
Read moreFTSE 100 movers: Broker upgrades lift Johnson Matthey and Croda
30th Nov 2012 13:25
Blue-chip constituents Johnson Matthey, Croda, Pennon and Intertek were performing well on Friday afternoon following a number of upbeat broker comments. Chemical peers Johnson Matthey and Croda International were lifted higher after Credit Suisse upgraded the companies from 'neutral' to 'outperfor
Read moreLondon midday: Stocks gain as Germany approves Greek aid
30th Nov 2012 11:29
- Germany approves Greek aid - Eurozone jobless rate at record-high - Stocks rally but trade within narrow range After a subdued start, the FTSE 100 had pushed into positive territory by midday after German parliament approved the Greek rescue deal. The Bundestag voted with a large majority (463 f
Read moreBroker tips: Kingfisher, Rio Tinto, Wolseley
30th Nov 2012 11:15
UBS has lowered its rating for B&Q and Screwfix owner Kingfisher from 'buy' to 'neutral' and reduced its target price from 300p to 290p, citing near-term risks. The broker said: "In most markets DIY demand remains depressed by a mix of low consumer confidence and weak housing markets, affecting big
Read moreBroker snap: Rio's one of the top sector picks, says Jefferies
30th Nov 2012 11:09
Jefferies has reiterated its 'buy' rating and 4,000p target price for mining giant Rio Tinto following yesterday's investor seminar in which the company announced aggressive open and capex cuts. Rio is intending to make $5bn of cumulative operating and support cost savings by the end of 2014 with a
Read moreLondon open: Stocks unchanged on 'fiscal cliff' developments
30th Nov 2012 08:21
The FTSE 100 opened flat on Friday morning as investors showed caution following some mixed comments from US politicians regarding the 'fiscal cliff'. Markus Huber, head of German HNW trading at ETX Capital, said: "European equities are trading little changed this morning despite less encouraging n
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