FTSE 100 movers: Sports Direct falls as shareholder's concerns laid out
18th Jan 2016 14:06
(ShareCast News) - The FTSE 100 was in a slow decline by mid-afternoon Monday, down 27.76 points (0.48%) to 5,776.34. Sports Direct was the biggest faller after one of the retailer's major investors voiced its concerns about its relationship with Nike as well as its website offering. In comments pu
Read moreExane upgrades Shire on Baxalta deal
18th Jan 2016 07:48
(ShareCast News) - Exane BNP Paribas upgraded Shire to 'outperform' from 'neutral' and reiterated its 5,700p price target following the company's agreed merger with Baxalta. It said whether you like the deal or not, the Shire-Baxalta valuation is compelling and it's time to buy the shares. "Whilst
Read moreLondon open: MPC may surprise with dovish tone, analysts say
14th Jan 2016 08:41
(ShareCast News) - London's top flight index dropped sharply early on Thursday morning, following a bruising session on Wall Street and with investors and traders focused on the Monetary Policy Committee announcement at noon. As of 08:38GMT the Footsie was down by 89.76 points to 5,871.21. To take
Read moreShire's Ornskov plans to beat Baxalta cost synergy targets
14th Jan 2016 08:13
(ShareCast News) - Shire chief executive Flemming Ornskov has revealed that the drug developer's internal plans for the merger with Baxalta are much more positive than it set out publicly. Speaking at JP Morgan's healthcare conference in San Francisco, Ornskov stated that Shire's "internal synergy g
Read moreFTSE 100 movers: Tesco surges on rival's unexpected positive results
12th Jan 2016 13:32
(ShareCast News) - The FTSE 100 continued to recover some of its losses from the start of the year, rising 107.03 points (1.82%) to 5,978.86 by mid-afternoon Tuesday. Tesco led the risers ahead of its Christmas and third quarter trading update out on Thursday, following an unexpectedly solid Christm
Read moreCredit Suisse ups Shire to 'outperform' on Baxalta merger
12th Jan 2016 12:48
(ShareCast News) - Shire got a boost on Tuesday after Credit Suisse upped the stock to 'outperform' from 'neutral', following the proposed merger with US peer Baxalta. Shire announced on Monday that it had agreed a $32bn takeover of Baxalta. CS said the deal provides a solid strategic fit and mitig
Read moreTuesday newspaper round-up: Shire, Toyota, yuan, CMC Markets
12th Jan 2016 07:02
(ShareCast News) - Shire's $32bn takeover of Baxalta caps the company's transformation from a specialist in pills for teenagers with attention deficit hyperactivity disorder into a leading producer of treatments for rare diseases. Flemming Ornskov, Shire's ambitious Danish chief executive, has made
Read moreFTSE 100 movers: Anglo surges on report Brazil business sale process underway
11th Jan 2016 14:13
(ShareCast News) - The FTSE 100 continued to bounce around on Monday, with the market up 6.36 points (0.11%) to 5,918.80 points by mid-afternoon. On a day of lacklustre metals trading, with key commodities down halfway through the afternoon session, investors took to heart news that Anglo American i
Read moreSocGen lowers Brent and WTI oil price forecasts for 2016
11th Jan 2016 13:53
(ShareCast News) - Oil would be significantly lower than previously expected in 2016 after the Organisation of the Petroleum Exporting Countries eliminated its production target and with Iranian exports possibly returning to the market sooner than had been anticipated, analysts at SocGen said. The b
Read moreShire to buy Baxalta for $32bn, reports say
11th Jan 2016 11:34
(ShareCast News) - London-listed Shire Pharmaceuticals announced on Monday the purchase of US-based Baxalta for $32bn, eliciting a mixed reaction from traders. Shire would pay $18 in cash and 0.1482 Shire ADS for each of its rival's shares, implying a price of $45.57 per share of Baxalta. The price
Read moreSunday newspaper round-up: BT, Shire, Sainsbury's, Laird
10th Jan 2016 16:15
(ShareCast News) - A handful of much-anticipated deals could be announced in the coming week, according to the Sunday newspapers, including BT's acquisition of EE, Shire's takeover of Baxalta and Sainsbury's follow up offer for Home Retail. BT's acquisition of mobile phone network EE will be given f
Read moreShire takeover bid for Baxalta hinges on tax issues, FT says
6th Jan 2016 18:21
(ShareCast News) - The success of Shire's bid for Baxalta hinges on whether it can avoid a stiff tax bill if a large part of the transaction takes the form of cash, instead of shares, the Financial Times reported, citing people close to the talks. UK-listed Shire is seeking assurances that paying pa
Read moreFTSE 100 movers: Miners slump on China data but Randgold shines
4th Jan 2016 14:00
(ShareCast News) - London's FTSE 100 was down 2.2% to 6,106.37 at 1418 GMT, kicking off the new year with broad-based losses following the release of uninspiring Chinese data. Heavily-weighted miners, which are heavily reliant on demand from China, were hit hard following the release of disappointin
Read moreMonday newspaper round-up: Saudi/Iran, Shire, retailers, LLoyds
4th Jan 2016 07:11
(ShareCast News) - Saudi Arabia on Sunday severed ties with Iran in the escalating dispute over the execution of a Shia cleric by Riyadh and the consequent storming of the Saudi embassy in Tehran. As the diplomatic crisis between the regional rivals escalated, Saudi foreign minister Adel al-Jubeir t
Read moreJP Morgan reiterates overweight on Shire
4th Dec 2015 14:57
(ShareCast News) - Shire's $6.5bn (£4.36bn) acquistion of Dyax would result in some initial dilution but that would be more than made up for by the boost to earnings that it would deliver in following years, one of the world's largest brokers said. The stock was also undervalued relative to peers, e
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