London midday: Stocks dip as investors shrug off strong retail sales
21st May 2015 11:58
Stronger-than-expected retail sales data wasn't enough to boost London's stocks on Thursday with markets rangebound as the FTSE 100 continues to fluctuate around the 7,000 mark. UK retail sales jumped 1.2% in April, according to the Office for National Statistics, more than making up for the 0.7% de
Read moreLimited scope for outperformance at Smiths Group, says Credit Suisse
21st May 2015 11:16
Credit Suisse has cut its rating for Smiths Group to 'neutral' and lowered its target price from 1,270p to 1,250p, saying it sees limited upside. To coincide with the technology company's third-quarter trading update, the bank has reviewed its investment case and transferred coverage to a new analys
Read moreLondon open: FTSE flat ahead of UK retail sales data
21st May 2015 08:42
A mixed reaction to corporate earnings and a number of blue chips going ex-dividend weighed on UK stock markets on Thursday morning, with the Footsie opening broadly flat. The FTSE 100 was trading 0.01% lower at 7,006.62 early on. Concerns about Greece continued to rumble on in the background follo
Read moreLondon pre-open: FTSE expected to slip early on
21st May 2015 07:44
Stocks in London are set for a lower start on Thursday morning with City sources predicting the FTSE 100 will open 10 points lower than Wednesday's close of 7,007.26. Concerns about Greece continue to rumble on in the background following comments from the German finance minister that he could not r
Read moreSmiths Group keeps outlook unchanged despite underlying weakness
21st May 2015 07:08
Technology outfit Smiths Group has reiterated guidance for full-year growth in spite of a weakening of underlying results over the first three quarters. The company, which services the threat & contraband detection, medical devices, energy and communications markets, said its outlook for the year wa
Read moreLondon pre-open: Lower start expected ahead of long weekend
1st May 2015 07:46
UK stocks are expected to fall on Friday morning with investors showing caution ahead of a quiet session with many European markets closed for May Day. City sources predict the FTSE 100 will open 14 points lower than Thursday's close of 6,960.63. Analyst Craig Elram from Oanda said the lower open m
Read moreSmiths Group steals Vesuvius CFO Chris O'Shea
1st May 2015 07:36
Technology outfit Smiths Group has appointed Vesuvius' chief financial officer Chris O'Shea as its new finance director. O'Shea, who previously held senior finance posts at BG Group and Shell, replaces Peter Turner who stepped down last week to return to his position as vice president of global fina
Read moreSmiths Group completes €600m bond offering
29th Apr 2015 08:01
Technology group Smiths Group has closed the €600m (£428.4m) bond offering, which was launched on 23 April. The FTSE 100 group said it will use the proceeds from the offering for general corporate funding purposes and to repay existing debt. On Friday, group finance director Peter Turner described
Read moreSmiths Group issues €600m bond
24th Apr 2015 08:08
Technology group Smiths Group has launched a senior bond worth €600m (£431.4m), which will be used for general corporate funding purposes and to repay certain existing debt. The notes will be priced with a fixed coupon of 1.25% and will have a maturity in April 2023. "This bond issue is a successfu
Read moreCharles Stanley downgrades Smiths Group, on mixed outlook and leadership uncertainties
19th Mar 2015 16:57
Technology company Smiths Group was downgraded to 'reduce' by analysts at Charles Stanley, citing a mixed outlook and leadership uncertainties. Despite strong currency headwinds, the group delivered interim results in line with expectations, as revenue declined 2% to £1.41bn, while operating profit
Read moreThursday broker round-up
19th Mar 2015 15:59
Smiths Group: Charles Stanley downgrades to reduce while Nomura reiterates buy recommendation. Weir Group: Barclays reiterates equalweight and 1,700p target. Prudential: Barclays reiterates overweight and lifts target to 1,868p. Serco: Jefferies reiterates hold but trims target to 185p from 195p.
Read moreFTSE 100 movers: Standard Chartered surges on upgrades, miners lower
18th Mar 2015 12:58
Shares in Standard Chartered surged after analysts at Barclays and Bernstein raised their ratings, highlighting the recent appointment of a former JPMorgan banker as its new boss. Barclays lifted their stance from 'equal weight' to 'overweight', while Bernstein upgraded by two notches from 'underper
Read moreLondon midday: StanChart, energy stocks lead gains ahead of Budget statement
18th Mar 2015 12:03
Stocks were putting in decent gains on Wednesday ahead of the UK Budget and Federal Reserve policy meeting, with the FTSE 100 nearing the 6,900 level. Markets were mostly shrugging off slightly worse-than-expected labour-market data in morning trade, as the jobless rate in Britain unexpectedly held
Read moreLondon open: Stocks rise ahead of UK Budget, Fed decision
18th Mar 2015 08:46
London stocks advanced on Wednesday morning, rising for a third straight day, as investors took a bullish approach ahead of the hotly-anticipated UK Budget and Federal Reserve policy decision. The FTSE 100 was trading up 0.3% at 6,859.81 in early deals. The market reaction to chancellor George Osbo
Read moreSmiths Group's first half profits stumble and outlook remains mixed
18th Mar 2015 08:20
First-half profits at engineer Smiths Group stumbled on the hurdles of foreign currency and the lower oil price, but the company expects things to pick up in the second half. Underlying revenue, excluding forex effects, rose 1% to £1.4bn, though it was down 2% at the reported level, as growth from o
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