FTSE 250 movers: Vedanta rallies but Lonmin slumps in tandem with platinum prices
4th Aug 2015 14:25
(ShareCast News) - London's FTSE 250 was trading little changed at 1420 BST, up just 0.1% at 17,686.96. Miner Vedanta Resources was the biggest gainer on the index, as investors took the chance to buy back into the stock following heavy falls in recent days. Vedanta was under pressure last week afte
Read moreRotork's interim results hit by slump in oil and gas market
4th Aug 2015 09:40
(ShareCast News) - Actuators and flow control equipment manufacturer Rotork posted a decline in interim revenue and pre-tax profit in the wake of a slump in oil and gas prices. The FTSE 250 group posted an 8.4% decline year-on-year in pre-tax profit to £56.3m, while revenue fell 1.5% to £274.2m and
Read moreSpirax completes sale of M&M to Rotork
4th Aug 2015 09:15
(ShareCast News) - Industrial engineering group Spirax-Sarco has sold M&M International to sector peer Rotork for €9.7m (£6.8m). The FTSE 250 group acquired M&M, which manufactures piston actuated valves and solenoid valves in Bergamo, Italy, in 2000 and reported operating profit of €1.5m and sales
Read moreExane upgrades Meggitt and Spectris, downgrades Rotork
18th Jun 2015 11:16
Exane BNP Paribas took a look at the UK capital goods sector, updating its ratings on three stocks. It said that UK capital goods names are far more exposed to Oil &Gas than their European counterparts. "This exposure to what was once the sector's fastest growing end market explains why our names o
Read moreUBS downgrades engineers Morgan and Spectris on margin gloom, upgrades Melrose
3rd Jun 2015 09:25
Shares in engineers were moved markedly by a short but gloomy note on the sector from UBS on Wednesday that said "margins have peaked", with only Melrose Industries receiving an upgrade. The Swiss bank's ratings on Melrose was lifted to 'buy' from 'neutral', as it downgraded both well-loved Spectris
Read moreFTSE 250 movers: Acacia boosted by Citi coverage, Rotork flows lower on weak Q1
24th Apr 2015 13:21
Acacia Mining was trading higher as Credit Suisse initiated the stock with an 'outperform' rating, despite the gold miner reporting an 18% fall in its first-quarter core profit due to declining prices for the yellow metal. Mining peers Vedanta Resources, BlackRock World Mining Trust and Kaz Minerals
Read moreRotork order intake hit by oil and gas uncertainty
24th Apr 2015 10:50
Flow control group Rotork said its order intake declined in the first three months of 2015 as challenging conditions in the oil and gas markets persisted. The London-listed group said order intake in the first quarter declined 7.3% year-on-year, on the back of lower investment in upstream oil and ga
Read moreWednesday broker round-up
18th Mar 2015 12:41
Johnson Matthey: Deutsche Bank reiterates buy and 3,850p target. BAE Systems: Morgan Stanley lifts target to 570p from 515p and reiterates equalweight. BT Group: Nomura and UBS reiterate buy. Ashtead Group: UBS raises target to 1,130p from 1,070p and reiterates neutral. Rotork: Morgan Stanley imp
Read moreThursday broker round-up
12th Mar 2015 17:30
Asos: Cannacord Genuity raises target to 3,250p from 2,520p and reiterates hold. Cambian Group: Cannacord Genuity lifts target to 311p from 294p and reiterates buy. BP: JP Morgan raises target to 410p from 400p and reiterates underweight. Royal Dutch Shell: Investec reiterates hold. Supergroup: C
Read moreFTSE 250 movers: Moneysupermarket crumbles on compensation concerns
3rd Mar 2015 14:14
Despite strong results and positive sentiment from many analysts, Moneysupermarket.com led the fallers due to weekend comments from the chairman of the government's Energy and Climate Change Committee, Tim Yeo MP, who called for price comparison companies to compensate customers who had been "duped"
Read moreRotork record results outweigh oil worries
3rd Mar 2015 08:34
Rotork comfortably beat expectations with its results for 2014 as the valve maker's ever broadening end-market exposure and stronger margins flowed through to record orders, revenues and profits. The FTSE 250 group, which makes valves to control the flow of liquids, gases and powders for numerous in
Read moreBroker tips: BP, Whitbread, Oil engineering stocks
11th Dec 2014 12:18
Investec came away from BP's seminar this week with largely positive comments, saying that the oil major delivered a "confident upstream update" despite the recent sharp drop in oil prices to below $65 a barrel. However, the broker said that with uncertainties surrounding Russia and the continued fa
Read moreSector movers: Industrial engineers Weir, IMI and Fenner continue to slide
17th Nov 2014 16:30
The industrial engineering sector extended Friday's decline with Weir Group, IMI and Fenner all registering heavy losses. Weir Group dropped after Exane BNP Paribas downgraded the stock to "underperform" from "outperform" and cit its target price to from 2,400p to 1,835p. Fenner lost more than 7% a
Read moreLondon close: Stocks end marginally higher after Eurozone data
14th Nov 2014 16:40
UK stocks ended the final session of the week with modest gains, but struggled against weakness among the mining and energy sectors. The FTSE ended the week at 6,648.13, a gain of 12.68 points on the day and 80.89 on the week. "A combination of mining and energy company weakness has seen the FTSE s
Read moreFTSE 250 movers: Premier Farnell drops after warning on operating margin
14th Nov 2014 16:05
Shares in technology products distributor Premier Farnell took a hit after the group warned that its full-year operating margin would be "slightly" below prior year levels. The group experienced softer market conditions in Asia and Europe, which dragged the gross margin 0.5 percentage points lower.
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