Tuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
Read moreSeverfield Rowen warns of 'significant challenges' in UK, CEO stands-down -UPDATE
23rd Jan 2013 08:17
Shares in structural steel group Severfield-Rowen plummeted on Wednesday after the company announced that its Chief Executive Officer had stepped down following cost over-runs on a key London contract which had adversely impacted its UK business performance. In a trading update, the company said th
Read moreSeverfield-Rowen's Chief Operating Officer and Director to retire
8th Jan 2013 13:38
Severfield-Rowen's Chief Operating Officer and Director, Peter Emerson, will retire from both roles on his 60th birthday, the structural steel company said Tuesday. Emerson will step down from the positions on June 5th this year, but will continue to work for the company on a part-time consultancy
Read moreSeverfield-Rowen being squeezed by the competition
21st Aug 2012 11:20
Steel firm Severfield-Rowen is struggling against weakening demand from the construction sector and pricing pressure as competitors fight for market share. Underlying profits before tax in the six months to the end of June were £1.5m, against £3.4m in the same period of 2011, despite revenues growi
Read moreTuesday broker round-up
21st Aug 2012 08:18
African Barrick Gold: Canaccord Genuity cuts target from 440p to 380p, hold rating kept. Amlin: Morgan Stanley keeps overweight and 414p target. Chemring: Citigroup downgrades to neutral, target lifted from 360p to 430p. CRH: Bernstein cuts target from 1,264p to 1,179p. Electrocomponents: Jeffer
Read moreGlencore boss strikes again, LSE boss sells
12th Jun 2012 15:16
Glencore International's Chief Executive Officer Ivan Glasenberg bought himself another chunk of shares in the mining titan, his third in the past week, it was announced on Tuesday. Since earning a whopping $110m in the latest dividend payout at the start of this month, the director has paid out j
Read moreTuesday tips round-up: Severfield-Rowen, Serco, Lancashire Holdings
12th Jun 2012 06:55
The Telegraph's Questor column stays steer clear of structural steel firm Severfield-Rowen. It issued a profits warning yesterday, prompting a big sell-off. This has an attraction for investors because buying on weakness often leads to profits. But Questor believes the construction industry is too w
Read moreSeverfield-Rowen plummets after profit warning
11th Jun 2012 10:13
Steel company Severfield-Rowen has issued a profit warning after being hit with cost overruns on two UK projects. The company says budgets have been exceeded by a total of £1.6m, while the wider business is likely to see higher revenues in the second half of the year. Profit before tax in the firs
Read moreSeverfield-Rowen down as profits plummet
20th Mar 2012 11:23
Mounting debts and plunging profits have seen structural steel firm Severfield-Rowen drop sharply through Tuesday morning trading. The company's underlying profits before tax came in at £10.1m, slightly above the market forecast of £10m but 34% down on 2010. Revenues held steady at £267.8m, above
Read moreBarclays director keeps the faith
21st Dec 2011 16:29
Sir Michael Rake, the Senior Independent Director of Barclays, has upped his stake in the firm less than a week after the global bank was downgraded by Fitch Ratings. Rake, who is currently also Chairman of telecommunications firm BT Group and Chairman of Easyjet, bought up 5,914 ordinary shares a
Read moreSeverfield-Rowen on track to deliver
16th Nov 2011 13:41
Structural steel group Severfield-Rowen has said it remains on track to deliver a result for the full year that is in line with management's expectations. The company's overall trading performance and financial position for the year to date remain in line with management expectations and is support
Read moreWednesday tips round-up: Cairn Energy, Xaar...
23rd Mar 2011 06:54
Cairn Energy moved to a pre-tax profit of $577m (£352m) last year, against a small loss in 2009. Cairn also reported progress in Greenland, where it is conducting a widely watched exploration campaign. The group said the offshore-Greenland programme has "the potential for transformational growth".
Read moreFriday tips round-up: AstraZeneca, Mitchells & Butlers, Aquarius Platinum...
28th Jan 2011 06:58
AstraZeneca and the rest of the large pharmas share the same basic problem, that of old drugs coming off patent faster than they can be replaced. The response has generally been to shovel piles of cash towards investors to keep them happy while trying to work out what to do next. AstraZeneca upped
Read moreLondon close: Footsie fades late
27th Jan 2011 16:32
Footsie closed lower after an afternoon rally, following a downgrade of Japan's credit weighting by ratings agency Standard & Poors, fizzled out. Life insurers moved to the top of the pile led by Old Mutual, Prudential and Aviva. Mining stocks did well after the US Federal Reserve indicated yesterd
Read moreLondon afternoon: Stocks edge higher
27th Jan 2011 14:23
Footsie remains marginally in positive territory after trading sideways over the lunchtime session, with the downgrade of Japan's credit weighting by ratings agency Standard & Poors continuing to weigh on sentiment. Mining stocks are going well, however, after the US Federal Reserve indicated yeste
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