London midday: Stocks snap winning streak as Chinese data disappoints
13th May 2013 11:51
Disappointing economic data from China on Monday put an end to a seven-day winning streak in London which lifted the FTSE 100 to a five-and-a-half-year high last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, meaning that it ha
Read moreBroker tips: IAG, Rank, Lonmin
13th May 2013 11:49
UBS has hiked its target price for airline group IAG from 285p to 310p and kept its 'buy' rating for the stock, saying that the risk to consensus estimates continues to be on the upside. The broker reckons that consensus forecasts do not yet reflect the acquisition of an additional 44.66% stake in
Read moreBroker snap: Rank rated 'hold' as trading slows, says Panmure
13th May 2013 10:06
Shares in Rank Group aren't that expensive, according to Panmure Gordon, but the broker has kept its 'hold' rating and 160p target price for the stock after its third quarter was affected by poor weather. Rank announced on Monday morning that full-year results for continuing business will likely be
Read moreLondon open: Markets pause after strong run last week
13th May 2013 08:48
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, mea
Read moreCold snap hits Mecca bingo owner Rank
13th May 2013 08:15
Rank Group, the European gaming and betting business, slumped in early trading on Monday after revealing that revenues in the third quarter were affected by the disappointing weather that gripped the UK this spring. The result means that full-year figures are likely to come in "marginally below" la
Read moreRank Group disposes of Blue Square Bet
2nd Apr 2013 15:18
The Rank Group has disposed its Blue Square Bet arm following a review of the loss-making sports gambling business. The European gaming company said it has sold the assets of Blue Square Bet to Betfair for £5.0m. "Rank intends to focus its resources on further developing the Grosvenor Casinos and
Read moreTuesday broker round-up UPDATE
5th Mar 2013 07:15
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng. Access Intelligence: Merchant Securities initiates with a target price of 7p and a buy recommendation. Amlin: Canaccord Genuity raises tar
Read moreFTSE 250 movers: Fidessa boosted by Credit Suisse rating
19th Feb 2013 16:04
Fidessa shares soared after Credit Suisse increased its target price from 1,782p to 2,213p and retained an outperform rating. In spite of Drax's EBITDA falling 10.6% to £298.4m in 2012, the coal power station group was making gains after the result came in ahead of the company's own guidance range
Read moreLondon midday: German sentiment data buoys stocks
19th Feb 2013 11:22
A better-than-expected reading of German confidence pushed stock markets firmly into positive territory by Tuesday lunchtime. The ZEW Institute's index, which measures economic sentiment in the Eurozone's largest economy, surged to 48.2 in February, ahead of last month's reading of 31.5 surpassing
Read moreCompetition Commission gives Rank green light to acquire 19 casinos
19th Feb 2013 08:24
FTSE 250-listed European gaming business Rank Group has received the green light from the Competition Commission to acquire a raft of casinos from Gala Coral Group. In May 2012, Rank announced that it had conditionally agreed to acquire Gala Casinos from Gala Coral with 23 casinos earmarked for pur
Read moreRank sees profits decline and warns of slow start to H2
31st Jan 2013 09:18
Shares in FTSE 250 bingo and casino group Rank dipped into the red on Thursday morning after the company missed profit forecasts with its first-half results amid a 'challenging economic environment'. Rank, which is in the process of acquiring the Gala Casinos network from Gala Coral (purchased for
Read moreThursday broker round-up UPDATE
31st Jan 2013 07:07
Aberdeen Asset Management: Bank of America ups target price from 400p to 425p maintaining a neutral rating. Afren: JP Morgan lowers target price from 210p to 195p and downgrades to neutral. Amino Technologies: Northland Capital raises target price from 85p to 90p keeping a buy recommendation. Ant
Read moreRank Group grows like-for-like revenues
19th Oct 2012 09:36
Bingo halls and casinos operator Rank said revenue growth in the second half of the year has been driven by strong trading in Mecca's digital channel and in its Grosvenor Casinos business. In the 15 weeks to October 14th, revenue was up 4% on a year earlier, or 5% on a like-for-like basis. Grosven
Read moreFriday broker round-up - UPDATE
19th Oct 2012 09:00
Aggreko: Jefferies keeps buy rating and 2,800p target; Seymour Pierce keeps buy rating and 2,500p target; Panmure Gordon cuts target from 2,228p to 2,159p, hold rating unchanged. Alliance Pharma: umps upgrades to buy, target lifted from 32p to 37p. Avacta: Panmure Gordon keeps buy rating and 1.75p
Read moreFriday preview: William Hill, Rank Group
18th Oct 2012 16:02
Ladbrokes weighed in Thursday with its third quarter trading update and on Friday it will be the turn of perennial rival William Hill to report on its progress down the back straight. Panmure Gordon is expecting a resilient performance despite a higher than usual number of race meeting cancellation
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