Tuesday preview: Soggy showing expected from Marks
9th Jul 2012 15:56
It is a case of the old and the new when two retailers give trading updates on Tuesday. The old is Marks & Spencer (M&S), a stalwart of the UK High Street for as long as anyone can remember. The company will give a first quarter (April - June) trading update at its annual general meeting, and per
Read moreBroker tips: UK banks, SIG, William Hill
18th Jun 2012 12:37
Despite last week's announcement of stimulus measures for UK banks, Nomura has maintained its 'neutral' rating on the sector, saying that the outlook for lenders is still difficult. "While in the near term banks will be driven by risk appetite, sovereign risks and de-leveraging, we continue to see
Read moreBroker snap: Jefferies trims estimates at SIG
18th Jun 2012 11:14
Jefferies has cut its target price for building products distributor SIG from 146p to 143p, but has maintained its 'buy' rating on the stock, saying that the new target still represents 47 per cent upside to the current share price. Like-for-like sales in the first four months of the year increased
Read moreMonday broker round-up - UPDATE
18th Jun 2012 08:20
Anglo American: UBS cuts target from 3,260p to 3,100p, buy recommendation maintained. Barclays: AlphaValue downgrades from buy to add, target kept at 230.2p; Nomura keeps neutral rating and 268p target. British American Tobacco: Citigroup retains buy rating. Essar Energy: Citigroup initiates cove
Read moreLondon close: Footsie battered again
18th May 2012 16:53
Footsie finished not far off its low for the day after a lunch-time rally fizzled out. With speculation rife in Spain that a ban on short-selling stocks might be reintroduced, holders of stock in UK banks Lloyds, Royal Bank of Scotland and Barclays could be forgiven that might not be such a bad id
Read moreLondon midday: Losses trimmed on Wall St hopes
18th May 2012 12:10
After hitting a low of 5,257 at around 10:30 Footsie clawed its way back up towards 5,300 for the rest of the morning session, encouraged by indications of a firm start on Wall Street, where all eyes will be on the Facebook flotation. Miners remain under a cloud after Goldman Sachs lowered its fore
Read moreLondon open: Few hiding places as equities dive
18th May 2012 08:32
Miners and banks are under the cosh in early trading on continued worries over the future of the Eurozone and as the credit agencies weigh in with more ratings cuts. Ratings agency Fitch cut Greece's rating on Thursday to 'CCC' from 'B-' in order to reflect the heightened risk that the country may
Read moreLondon pre-open: FTSE to track US and Asian stocks lower
18th May 2012 07:31
City sources predict the FTSE 100 will open down 60 points from yesterday's close of 5,338, tracking US and Asian stocks lower as the ongoing crisis in Greece and renewed worries about Spain dent investor confidence across the globe. Revenue and profits at bourse operator London Stock Exchange ca
Read moreDrought? What drought, asks SIG
18th May 2012 07:17
Do not mention the UK drought to SIG, the building products distributor, which has seen sales in the group's roofing business disrupted by heavy rains this year. Group sales per day at constant currency were still just under 1.0% ahead of strong prior year comparatives in the first four months of
Read moreLondon close: Miners drag Footsie into the red
14th Mar 2012 16:40
- Miners outweigh financials to drag Footsie lower - Fed expects 'moderate' growth in 2012 - Osborne considering 100-year gilts UK stocks finished the day slightly lower on Wednesday despite an earlier rise as steep falls in the mining sector offset a strong performance by the banks and insurers. T
Read moreFTSE 250 movers: Yule Catto leaps after profits double
14th Mar 2012 14:39
Shares in Yule Catto soared into the top spot on the FTSE 250 leader-board after the Essex headquartered polymer business announced it had doubled profits in 2011. Underlying profit before tax at the firm was up 99% to £84.8m in 2011, largely due to its PolymerLatex acquisition in March, which doubl
Read moreLondon midday: Financials jump despite jobs data
14th Mar 2012 11:43
- UK unemployment on the rise - Banking stocks lifted by US stress test results - Legal and General beats forecasts in 2011 Stocks held on to earlier gains by lunchtime on Wednesday despite some gloomy jobs data. Financials were leading the rise, buoyed by the results of the stress tests in the US
Read moreLondon open: Legal and General leads the Footsie higher
14th Mar 2012 08:28
- Legal and General jumps five per cent after solid 2011 - Majority of US banks pass stress tests - Osborne considering 100-year gilts London's blue chips rose strongly on Wednesday morning, led by financial stocks, following on from a surge on Wall Street last night. The Footsie opened up at level
Read moreSIG reports strong 2011
14th Mar 2012 07:23
Building products distributor SIG capped a strong year with a 27 per cent jump in profits in 2011, as it benefitted from improved trading conditions. Underlying pre-tax profits came in at the top end of expectations at £81.7m, with earnings per share reaching 9.4p, also a 27% increase on the year b
Read moreWednesday preview: Marston's, SIG
13th Mar 2012 16:12
Pubs and brewing group Marston's could almost more accurately be referred to as a restaurant chain these days, such is its pell-mell pursuit of the dining pound. It issues a trading update for a 23 week period, covering the bulk of the first half of its financial year, on Wednesday. It is not expe
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