Broker tips: Tullow, Schroders, IAG
11th Jan 2013 11:04
Investec has retained its 'sell' rating and 1,000p target price for oil giant Tullow following a production miss on Friday morning. The broker said: "This morning's trading update delivered disappointing production figures for Tullow and underlined our view that it may not attain production of 100,
Read moreBroker snap: Improved macro backdrop good for asset managers, says Credit Suisse
11th Jan 2013 09:52
With global economic growth starting to gather momentum, Credit Suisse believes that increased risk appetite bodes well for asset managers and has upgraded its rating for London-listed firm Schroders as part of its sector review. The broker said that global macro-economic backdrop is showing some s
Read moreLondon open: Markets cautious after Chinese inflation figures
11th Jan 2013 08:24
UK markets opened tentatively on Friday morning, making only slight gains as investors digested inflation data in China and economic stimulus in Japan. Chinese inflation rose to 2.5% in December as cold weather resulted to a increase in food prices. "While the figure remains well below the inflatio
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
Read moreSchroders acquires STW Fixed Income Management
17th Dec 2012 15:28
Schroder US Holdings, a subsidiary of FTSE 100 global asset company Schroders, announced Monday it would acquire 100 per cent of the share capital of STW Fixed Income Management. STW, a US investment-grade fixed income manager, looks after about $11.9bn on behalf of more than 100 institutional clie
Read moreLondon close: Stocks pare gains after US ISM data
3rd Dec 2012 16:52
- US manufacturing sector in contraction - Chinese and India data lifts markets early on - Banking fall after BoE FLS details The FTSE 100 index was set to finish Monday's session with decent gains until a worse-than-expected reading of US manufacturing caused markets across Europe to trim gains by
Read moreFTSE 100 movers: Banks fall after BoE lending scheme underwhelms
3rd Dec 2012 15:38
UK banking group Lloyds was under the weather after the release of the details of the Bank of England's (BoE's) Funding For Lending (FLS) scheme in the third quarter. The BoE revealed that Lloyds, along with RBS, had cut net lending by £2.77bn and £642m, respectively, in the three months to the en
Read moreLondon midday: Markets rise after manufacturing data
3rd Dec 2012 11:35
- Chinese and Indian PMIs improve - UK manufacturing PMI beats forecasts - Miners provide a lift in London The Footsie had held on to gains by Monday lunchtime after some decent manufacturing figures from China and India, though the mood was cautious on the back of uncertainties surrounding the US
Read moreMonday broker round-up UPDATE
3rd Dec 2012 07:16
ARM Holdings: Exane BNP Paribas upgrades from neutral to buy. Ashtead Group: Bank of America starts with a target price of 460p and a buy recommendation. AstraZaneca: Berenberg raises target price from 3080p to 3100p; hold recommendation kept. Balfour Beatty: Investec reduces target price from 21
Read moreLondon close: Losses erased after 'optimistic' fiscal cliff comments
28th Nov 2012 16:43
Comments from US Republican Speaker of the House John Boehner about the 'fiscal cliff' saw the FTSE 100 rally in afternoon trading to finish broadly flat. Markets got off to a poor start this morning after Nevada Democrat Harry Reid said that "little progress" has been made so far on avoiding the f
Read moreSchroders appoints new CFO as current director announces departure
28th Nov 2012 13:45
The Chief Financial Officer (CFO) of asset manager Schroders, Kevin Parry, has announced that he plans to step down from the board from May 5th next year. The group announced that it will appoint Richard Keers, who is currently a partner at PricewaterhouseCoopers (PwC), in the role at that time.
Read moreFriday tips round-up: Schroders, Electrocomponents and 3i Infrastructure
9th Nov 2012 06:40
Tempus in The Times writes that Schroders' performance since the financial crisis started gives an idea what can be achieved if you stick to your knitting and abjure significant acquisitions, unlike other fund managers such as Aberdeen Asset Management. Over the past 14 quarters Schroders has gain
Read moreLondon midday: Bank of England holds rates as stocks rebound
8th Nov 2012 11:31
- BoE holds rates and QE - Stocks rebound after heavy sell-off - G4S drops after losing prison contract Easing concerns about Greece saw the FTSE 100 rebound slightly on Thursday morning following a steep sell-off the day before. The Bank of England's Monetary Policy Committee announced at noon th
Read moreLondon open: Stocks edge higher after Greece votes on austerity
8th Nov 2012 08:23
Stocks rebounded on Thursday morning, albeit only slightly, following steep falls the day before, after Greece voted in favour of its strict austerity measures. Wednesday's session started strongly after Barack Obama was re-elected as the US President, sparking speculation that easing measures woul
Read moreAUM at Schroders still on the rise
8th Nov 2012 07:38
Clients continued to put investment funds under the jurisdiction of asset manager Schroders during the third quarter, but the group is seeing a slowdown in Institutional flows. Assets under management (AUM) at the end of September stood at £202.8bn, up from £194.6bn at the end of June, with a chunk
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