Rank gets right result in its casinos
9th Feb 2012 07:46
Rank, the bingo, casino and online gaming company controlled by Hong Kong investment firm Guoco Group, has reduced its dividend and seen a significant decline in revenue at its operations in Spain, but the casino business is coming up trumps. The company's results for the six months to the end of D
Read moreMonday broker round-up - UPDATE
6th Feb 2012 09:12
Supergroup: Oriel Securities upgrades to buy from hold. Glencore: Jefferies ups target from 525p to 575p, confirms buy rating; Credit Suisse maintains outperform rating and 550p target. Royal Dutch Shell: Credit Suisse downgrades from outperform to neutral, cuts target from 2,750p to 2,600p. Xst
Read moreLondon close: Euro worries drag Footsie down 1.1%
30th Jan 2012 17:13
Just nine stocks in the FTSE 100 finished above water on Monday as the Eurozone crisis weighed heavily on sentiment. With the borrowing rate of Portuguese debt surging, Greek talks still unresolved and an EU summit taking place, a risk-off attitude swept across the market today with resource stocks
Read moreFTSE 250 movers: BTG on the up after trial success
30th Jan 2012 13:35
Healthcare firm BTG was on the up after successfully completing the first phase of the US-based trial of Varisolve, a varicose vein treatment. Casinos group Rank was also higher after confirming speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino busine
Read moreLondon open: Banks weigh on Footsie lower early on
30th Jan 2012 08:18
The FTSE 100 slipped towards the 5,700 level in early trade, with the banks providing a drag as investors digested the downgrade of five Eurozone nations and the ongoing talks in Greece. Fitch announced late on Friday to downgrade the ratings of five Eurozone nations - Italy, Spain, Belgium, Cyprus
Read moreRank in talks to buy Gala's casinos
30th Jan 2012 07:35
Casinos group Rank has confirmed speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino business. Gala Casinos is the third largest casinos business in the UK and has a market share of around 17%. Press reports estimate that the acquisition could be worth u
Read moreMonday newspaper round-up: RBS, mining companies, taxes
30th Jan 2012 07:06
The chief executive of Royal Bank of Scotland last night bowed to mounting public anger and agreed to give up a £1m bonus. Stephen Hester's move emerged last night hours after it had been announced that Labour was to trigger a Commons vote on his controversial award. Ministers welcomed the decision,
Read moreMorning broker round-up -UPDATE
11th Nov 2011 08:52
Experian: Nomura raises target price to 910p from 867p before. Schroders: Deutsche Bank upgrades to hold from sell. Schroders: Credit Suisse cuts target to 1,390p from 1,450p. Fenner: Credit Suisse raised target to 415p from 395p. Dart Group: Peel Hunt initiates coverage at buy. Next Fifteen
Read moreRank resilient despite recession
28th Jul 2011 15:24
Tough economic conditions are failing to keep gamblers away from bingo halls and casinos, judging by Rank Group's half yearly figures. Revenue at the company in the six months to 30 June rose to £294m from £281.1m over the same period the previous year, while adjusted pre-tax profits rose to £26.3m
Read moreLondon close: Banks recover as Footsie gains 0.65%
19th Jul 2011 16:29
The banking sector was winning back investor confidence on Tuesday as shares sharply rebounded, lifting the top share index close to the 5,800 level. Lloyds, RBS and Barclays were in demand, following the sector sell-off yesterday on the back of concerns over the softness of last week's European ba
Read moreFTSE 250 movers: IG Group advances on results
19th Jul 2011 15:17
Exhibitions and conferences firm ITE Group benefited from the first time contributions from new events and a softer comparator last year to boost revenues by nearly 43% in the third quarter. However, shares of the media-related company fell the most on the FTSE 250 index. Not far behind was The Ran
Read moreLondon close: record gold price = scared investors
18th Jul 2011 16:03
Stock markets fell across the board today as concerns persist over European and US sovereign debt. Friday's European banking stress tests were seen as something of a damp squib by markets after they failed to adequately analyse the impact sovereign debt default would have on the Continent's banks.
Read moreFTSE 250 movers: Rank boosted by broker recommendation
18th Jul 2011 14:27
Bingo hall and casino operator Rank Group was the top riser on the mid-cap stock index after brokerage firm Panmure Gordon reinstated its "buy" recommendation on the company, saying that it remains "a compelling investment proposition." On Monday, Rank announced that Guoco's offer closed with 74.5%
Read moreBroker tips: BSkyB, Rank, Spectris
18th Jul 2011 12:53
UBS has upgraded satellite broadcaster British Sky Broadcasting (BSkyB) from neutral to buy and lifted its target price by over a third, saying that the risk reward is attractive. "BSkyB (Sky) is the leading player in UK pay-TV and we expect it to deliver 6.0% [per annum (pa)] revenue growth over t
Read moreBroker snap: Rank is a 'compelling investment proposition', says Panmure
18th Jul 2011 12:49
Panmure Gordon has reinstated its buy recommendation on bingo hall and casino operator Rank Group, saying that Rank remains "a compelling investment proposition". The group announced on Monday that Guoco's offer closed on Friday with 74.5% acceptances (including Guoco's own shareholding) for its 15
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