London close: Markets spring leak as oil prices tumble
4th Nov 2014 16:13
The falling price of crude oil and precious metals left markets struggling to get a grip on Tuesday. The price of a barrel of US light crude fell nearly 3% to about $76.5 a barrel and Brent crude dipped below the $83 mark, dragging the FTSE 100 Index down 34 points at 6453.97. World gold prices are
Read moreRolls-Royce replaces CFO and makes 2,600 job cuts
4th Nov 2014 14:11
Rolls-Royce chief financial officer (CFO) Mark Morris has stepped down as the company announced plans to accelerate its cost-cutting programme with 2,600 job cuts over the next 18 months. The engine maker has already appointed a replacement finance chief, promoting the CFO of its aerospace division,
Read moreBroker tips: HSBC, RBS, Wm Morrison, Rolls-Royce, Just Eat
3rd Nov 2014 12:22
Hargreaves Lansdown Stockbrokers has hailed a "strong operating quarter" for HSBC, but has said that analysts covering the stock remain on the fence due to regulatory issues. "Unfortunately, the provisions cannot be ignored and the ongoing costs of PPI and the forex investigations are also joined by
Read moreMonday broker round-up UPDATE
3rd Nov 2014 10:47
Aa: Liberum Capital initiates with a target price of 417p and a buy recommendation. Afren: UBS lowers target price from 130p to 115p, keeping a buy recommendation. Anglo American: Nomura reduces target price from 1550p to 1400p, while leaving its neutral rating unaltered. Barclays: Exane ups targe
Read moreCanaccord sees 'trouble ahead' for Rolls-Royce, cuts to 'hold'
3rd Nov 2014 10:19
Canaccord Genuity has lowered its recommendation and slashed its target price for Rolls-Royce, saying it sees "trouble ahead" for the engine maker as some divisions enter a period of slower growth. The broker said it has "tempered our expectations for group earnings progression" after Rolls-Royce do
Read moreFriday broker round-up UPDATE
31st Oct 2014 09:36
Afren: Deutsche Bank lowers target price from 110p to 105p, leaving its hold recommendation unaltered. Aviva: Barclays ups target price from 397p to 420p and reiterates its equal-weight rating. Barclays: Deutsche Bank lowers target price from 300p to 295p and leaves its buy recommendation. Country
Read moreLondon pre-open: FTSE to jump after Bank of Japan increases rate of asset purchases
30th Oct 2014 20:06
The Bank of Japan's (BoJ) decision to increase its rate of asset purchases means global indices are set for strong gains on Friday. The FTSE 100 is predicted to open around 80 points higher than Thursday's close of 6,463.55. "Coming off the back of yet more weak inflation data, this move is both ra
Read moreRolls-Royce wins largest single subsea vessel project contract ever
28th Oct 2014 10:33
Rolls-Royce has signed a major contract to supply a module handling system to the subsea construction vessel Aker Wayfarer. The vessel, built by Vard Søviknes in 2010, will undergo project modification work at Kleven's Myklebust Verft yard in Norway. The £24m contract marks the largest single subse
Read moreMonday broker round-up UPDATE
27th Oct 2014 10:05
Aquarius Platinum: Deutsche Bank shifts target price from 28p to 30p and maintains a buy recommendation. Dechra Pharmaceuticals: FinnCap ups target price from 800p to 840p and reiterates a buy recommendation. easyJet: Morgan Stanley moves target price from 1650p to 1665p leaving its overweight rati
Read moreFriday broker round-up UPDATE
24th Oct 2014 10:11
Advanced Medical Solutions: Oriel initiates with a target price of 135p and a buy recommendation. African Barrick Gold: JP Morgan moves target price from 300p to 310p maintaining its overweight rating. Canaccord Genuity reduces target price from 330p to 275p keeping a buy recommendation. Numis moves
Read moreRolls forms parts JV with France's Safran
24th Oct 2014 07:54
Aerospace and defence group Rolls-Royce has formed a joint venture with Safran's Hispano-Suiza to make parts for Rolls' commercial aircraft jet engines. Rolls said it had signed a deal with Hispano-Suiza to create a jointly-owned company to design, develop, produce and support accessory drive train
Read moreFriday newspaper round-up: SFO, EU, BP
23rd Oct 2014 18:49
The Serious Fraud Office (SFO) has been forced to ask the government for an additional £26.5m because of ongoing fraud investigations into Barclays, Rolls-Royce and Libor rigging, the Guardian reported on Friday. SFO chief David Green said that the agency was handling the "most demanding caseload th
Read moreFTSE 100 movers: Travel stocks fly higher
21st Oct 2014 14:51
Travel stocks were once again in positive territory as the sector recovered from a recent poor performance amid mounting concerns about the Ebola crisis. A report from Reuters claiming the European Central Bank is considering the possibility of buying corporate bonds on the secondary market, potenti
Read moreTuesday tips round-up: Rolls Royce, Tesco
21st Oct 2014 07:41
Notwithstanding the impact from the sanctions imposed on Russia, there still seems to be a good business case to be made for shares of Rolls Royce. No, they may not return to the £12.71 per share mark at which the Times's Tempus tipped them at the start of the year, but they do look "seriously under
Read moreBroker tips: Airlines, Rolls-Royce, Premier Foods, Spectris
20th Oct 2014 12:15
Liberum has highlighted UK-listed IAG, Ryanair and Easyjet as its top picks across the European airline sector, saying it sees "opportunities for the brave" despite sentiment remaining fragile across the industry. "Amidst concerns over Ebola, Eurozone recession and excess capacity, we believe there
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