DS Smith in shape for year
6th Nov 2012 07:51
Recycled packing firm DS Smith said it continue to expect substantial year-on-year EPS growth and views the remainder of the year with confidence. In an update for the half-year to October 31st, the corrugated boxes maker said its packaging business is performing in line with expectations, with mar
Read moreFTSE 250 movers: Morgan Crucible plunges on profit warning
12th Oct 2012 16:10
Industrial materials provider Morgan Crucible has delivered a profits warning as trading conditions have deteriorated across most geographies, particularly in Europe and China. The slowdown in demand has been most pronounced in the Advanced Materials and Technology business, the group said, in an
Read moreFriday tips round-up: DS Smith, BAE Systems, Rangers FC ....
12th Oct 2012 06:38
Tempus in the Times writes that cardboard box maker DS Smith has been transformed by its recent acquisition of Swedish rival Svenska Cellulosa Aktiebolaget (SCA). Yesterday it gave a positive update on the first 100 days since the deal. Expected annual savings have been raised to 100m euros within t
Read moreLondon close: Footsie thunders ahead
11th Oct 2012 16:54
Better than expected US jobless figures gave a little early afternoon boost to a London market already going along nicely, as investors shrugged off a downgrade of Spain's credit rating by S&P, leaving the Iberian nation's debt status barely above a junk rating. Initial weekly unemployment claims d
Read moreFTSE 250 movers: Bumi leaps on Bakrie offer
11th Oct 2012 16:08
Shares in Indonesia-focused mining giant Bumi leapt after major shareholder, the Bakrie Group, tabled an offer that could end their turbulent relationship. Bakrie wants to swap its stake in the group for a stake of equivalent value in Bumi Resources. The group has been the subject of a board room
Read moreLondon midday: Bumi booming on back of buy-out proposal
11th Oct 2012 11:51
London enjoyed a solid morning sparked by a return to favour of stock market darling Burberry, the luxury fashion chain. Burberry, which issued a profit warning last month, confirmed like-for-like (LFL) sales growth in its stores slowed dramatically in the July-September quarter, but the good news
Read moreDS Smith says SCA integration going well
11th Oct 2012 08:31
Packaging firm DS Smith said its purchase of SCA Packaging was expected to deliver a return on investment above the cost of capital this financial year, together with substantial earnings enhancement. The firm said the integration of SCA, which it bought in June, was proceeding well, with good prog
Read moreFriday broker round-up - UPDATE
14th Sep 2012 07:52
Aegis: Credit Suisse cuts target to 121.6p from 240p, maintains at underperform. Antofagasta: Nomura keeps buy rating and 1,450p target. ASOS: Peel Hunt downgrades to hold, target lifted from 1,800p to 2,100p. Daily Mail: Barclays reduces to equal-weight from overweight. Domino Printing: Jeffer
Read moreThursday broker round-up
13th Sep 2012 09:17
Anite: Jefferies keeps buy rating and 160p target. BAE Systems: Investec downgrades from hold to sell, target raised from 350p to 290p; Societe General downgrades to sell; Oriel Securities downgrades to hold, target lifted from 350p to 370p. Bank of Georgia: Seymour Pierce keeps buy rating and 1,6
Read moreLondon close: Footsie drops 1.5 per cent as nerves take over
4th Sep 2012 16:41
- US manufacturing data disappoints - Markets nervous ahead of ECB meeting - Broker downgrades take down Vodafone, Land Secs... Disappointing manufacturing data from the US and skittishness ahead of a European Central Bank (ECB) monetary policy decision on Thursday sparked a sell-off on global stoc
Read moreFTSE 250 movers: Ashtead jumps after bullish guidance
4th Sep 2012 14:43
While the miners were dominating the downward trend on the second-tier FTSE 250 index on Tuesday afternoon, there were a handful of outperformers, most notably high-flying plant hire firm Ashtead. Ashtead saw shares jump after saying this morning that full-year results will be "materially ahead of
Read moreLondon midday: Evraz leads fallers on the FTSE 100
4th Sep 2012 11:53
- Investors in 'wait and see mode' ahead of ECB - Markets await pivotal US ISM data - Moody's lower EU outlook to 'negative' The FTSE 100 had slumped to its lowest levels of the day by Tuesday lunchtime as investors were cautious about building positions ahead of some pivotal US economic data this
Read moreTuesday broker round-up
4th Sep 2012 09:31
Ashtead: Jefferies lifts target from 360p to 320p, buy rating kept. Barclays: JP Morgan downgrades to neutral from overweight, target cut from 265p to 250p. British Land: UBS downgrades to neutral, target cut from 575p to 560p. Capital Shopping Centres Group: UBS upgrades to buy, target lifted fr
Read moreLondon open: Stocks slip before US data
4th Sep 2012 08:30
- Moody's lower EU rating to 'negative' - Markets await US ISM data - Investors keep eyes pinned on ECB UK stocks pulled back on Tuesday morning following a strong performance the day before as some gloomy comments from Moody's and caution ahead of some US economic data dampened sentiment. Yesterd
Read moreDS Smith looking for substantial growth
4th Sep 2012 07:22
Recycled packing company DS Smith said it was trading in line with market expectations and expected substantial year-on-year growth in earnings per share. Smith said integration work was proceeding slightly ahead of plan at its SCA Packaging, which it bought at the end of June. It added that the €
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