Sector 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.
Read moreRotork shares fall as Russian sanctions affect orders
14th Nov 2014 15:07
Rotork's shares slumped on Friday after the actuator manufacturing and flow-control company said revenues slipped in the third quarter due to the timing of deliveries. Revenues declined by 1% and were down 0.5% on an organic constant currency (OCC) basis. The decline came after OCC revenues had rise
Read moreSector movers: Rotork and Castings drag engineers lower, IMI subdued
14th Nov 2014 14:06
Industrial engineering stocks were out of favour on Friday after Rotork and Castings disappointed with results and the market gave a muted reaction to a trading update from sector peer IMI. Rotork, the actuator manufacturing and flow-control company, saw shares drop 3.8% at 2,404p in afternoon trade
Read moreUBS stays positive on UK engineers, recent sell-off overdone
28th Oct 2014 10:03
The recent sell-off in the UK engineering sector has been overdone, according to UBS, which predicts that trading should improve in the near term. As part of its review of the sector, UBS has upgraded Rotork from 'neutral' to 'buy' and named Bodycote, Fenner and Spirax-Sarco as other top picks. "Ou
Read moreThursday broker round-up UPDATE
16th Oct 2014 08:57
Afren: Investec cuts target price from 195p to 120p and reiterates its hold recommendation. Amerisur Resources: Investec lowers target price from 75p to 65p and maintains a buy recommendation. Antofagasta: UBS upgrades from sell to neutral with a target price of 710p. ARM Holdings: Credit Suisse r
Read moreMonday broker round-up UPDATE
13th Oct 2014 09:32
Amino Technologies: Northland Capital upgrades to buy with a target price of 100p. Anglo American: Canaccord Genuity initiates with a target price of 1720p and a buy recommendation. Credit Suisse upgrades to outperform with a target price of 1800p. Associated British Foods: Societe Generale upgrade
Read moreThursday broker round-up UPDATE
25th Sep 2014 08:48
Amec: UBS raises target price from 1100p to 1215p upgrading from neutral to buy. Aquarius Platinum: Citi lowers target price from 26p to 22p maintaining a neutral rating. Arrow Global: Panmure Gordon ups target price from 335p to 360p and keeps a buy recommendation. Barr (AG): Numis ups target pri
Read moreFriday broker round-up UPDATE
8th Aug 2014 10:19
African Minerals: Canaccord Genuity cuts target price from 170p to 150p, while keeping its buy recommendation. AMEC: Credit Suisse reduces target price from 1250p to 1150p retaining a neutral rating. Nomura reduces target price from 1450p to 1250p staying with its buy recommendation. UBS cuts targe
Read moreWednesday broker round-up UPDATE
6th Aug 2014 10:20
Aggreko: Jefferies raises target price from 1800p to 2000p and keeps a buy recommendation. Investec ups target price from 1650p to 1700p and leaves its hold recommendation unchanged. Avingtrans: FinnCap cuts target price from 170p to 155p downgrading from buy to hold. Aviva: Jefferies initiates wi
Read moreTuesday broker round-up UPDATE
5th Aug 2014 11:02
Acal: FinnCap initiates with a target price of 322p and a buy recommendation. Afren: UBS reduces target price from 200p to 135p and stays with its buy recommendation. Aggreko: WH Ireland ups target price from 1800p to 1850p and stays with a buy recommendation. Alent: Numis increases target price
Read moreRotork order intake grows but currencies headwinds drag on H1
5th Aug 2014 09:06
Improving customer activity levels in the first half of the year led to record order levels at Rotork, the oil and gas industry component maker, helping to make up for stronger currency headwinds than expected. At constant currencies, revenues rose 4.4% to £278.5m and adjusted profit before tax 5.4
Read moreTuesday broker round-up UPDATE
22nd Jul 2014 09:37
Abcam: N+1 Singer places both its target price (prev.: 346p) and its sell recommendation under review. Amiad Water Systems: Oriel lowers target price from 350p to 340p and retains a buy recommendation. Ashmore Group: Espirito Santo ups target price from 371p to 404p, while downgrading to neutral.
Read moreRotork acquires Xylem Flow Control for £18m
2nd Jul 2014 12:41
Rotork, the market-leading actuator manufacturer company, has acquired Xylem Flow Control for £18m to expand the sales and coverage of its Midland-branded products. XFC will be renamed Rotork Midland, which will be under the group's ownership, and will sit within the Rotork Instruments division alo
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