Tuesday broker round-up - UPDATE
7th Feb 2012 10:14
Shire: Goldman Sachs reiterates 'conviction buy.' Misys: Berenberg Bank downgrades to hold from buy. BP: Nomura maintains neutral rating and 500p target. Cairn: UBS ups target from 291p to 370p, neutral rating kept; Credit Suisse ups target from 357p to 369p, neutral rating kept. Rio Tinto: Cred
Read moreDS Smith non-exec tops up his stake
30th Jan 2012 16:02
Chairman of the Audit Committee at DS Smith, Jonathan Nicholls, has bought £74,366-worth of shares in the recycled packaging firm. The purchase, which saw the non-executive buy 32,309 shares at 230.17p each, comes less than two weeks after the firm launched an agreed bid for the second largest pack
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreWednesday tips round-up: Experian, DS Smith
18th Jan 2012 06:54
Financial data company Experian has made big money in Brazil since its purchase of Serasa, which has tripled in size since the acquisition in 2007. Total sales in Latin America jumped 27% in the third quarter. In the other divisions, however, growth is much more mundane and despite the recent purch
Read moreFTSE 250 movers: Afren tops the risers after discovery
17th Jan 2012 15:38
A big mover on the FTSE 250 today was oil and gas group Afren which was trading a whopping 13% higher in the afternoon after announced a new oil discovery offshore south-east Nigeria. The firm said that it encountered 549ft true vertical thickness of net oil pay and 41ft of net gas pay in "excelle
Read moreLondon midday: Stocks drift higher after Chinese, German data
17th Jan 2012 11:43
Stocks were off their intraday highs by lunchtime but the Footsie was still some 26 points up from yesterday's close, helped by some cheery Chinese GDP data and a better-than-expected German confidence survey. Fourth quarter gross domestic product (GDP) data from China was easing fears of a hard la
Read moreDS Smith in reverse takeover of SCA Packaging
17th Jan 2012 07:41
The recycled packaging firm, DS Smith, has launched an agreed bid for SCA Packaging, the second biggest packaging business in Europe. DS Smith, with a market capitalisation of around £0.9bn, is paying €1.6bn (£1.3bn) for the Swedish company, excluding SCA's kraftliner assets. The purchase will be
Read moreDS Smith to profit from stake in Ukraine firm
9th Jan 2012 08:24
DS Smith, the recycled packaging company, is about to receive a tidy sum as a result of its 49.6% interest in Rubezhansk, the leading paper and packaging business in the Ukraine. Rubezhansk has completed the signing of a revised 5-year loan agreement with its existing lender group and as a result
Read moreDS Smith completes Spicers sale
30th Dec 2011 09:34
DS Smith, the recycled packaging company, has seen its shares rise 1% after revealing it has completed the sale of stationery business Spicers. The deal with Spanish firm Unipapel was announced back in July although the transaction has taken five months to bring to a conclusion. The deal will net
Read moreLondon close: Late bounce not enough, EU summit eyed
7th Dec 2011 16:46
The steady decline on the FTSE 100 since the morning proved too much, as a late bounce couldn't bring the blue chip index back into positive territory. Nevertheless, while the Footsie finished 22 points down it was still 45 points off its intraday low. Randgold Resources led the risers on Wednesday
Read moreLondon midday: Stocks pare gains, euro in focus
7th Dec 2011 11:49
The Footsie was trading well below its intraday high of 5,626 reached in early trading. However, the index was still making moderate gains - up 0.33% at 5,587 by midday - on fresh optimism over the Eurozone, as leaders draw up plans to increase the region's firepower against the crisis. Miners domi
Read moreWednesday broker round-up - UPDATE
7th Dec 2011 08:50
Resolution: Deutsche Bank upgrades to buy from hold. ICAP: Morgan Stanley downgrades to equalweight from overweight. Xstrata: Credit Suisse reiterates outperform and 1,700p target. Xstrata: Nomura reiterates buy and 1,500p target. Wolseley: Credit Suisse stays at outperform. Wolseley: UBS ups
Read moreLondon open: Stocks jump on euro hopes
7th Dec 2011 08:15
The FTSE 100 jumped higher from the off on reports that European leaders are drawing up a plan to increase the region's firepower against the crisis. The index jumped to 5,611 early on, an intraday level not seen in almost a month (intraday high of 5,616 hit on 9 November). The European Union is pr
Read moreLondon pre-open: Steep rise expected on euro hopes
7th Dec 2011 07:21
London's blue chip index is expected to open firmly in positive territory on Wednesday morning on reports that European leaders are in talks to propose an enlarged 'financial bazooka' at this weekend's summit. City sources predict the FTSE 100 will open up 57 points from yesterday's close of 5,569
Read moreFirst-half revenues up 26% at DS Smith
7th Dec 2011 07:05
It was good news for packaging and office products group DS Smith which has reported a 26% rise in revenues from continuing operations in the first half ended 31 October. After a full six-month contribution from Otor, a French firm which it acquired last year, revenues rose from £822.2m to £1,034.
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