Broker tips: Standard Chartered, Carnival, Smith & Nephew, Weir
23rd Mar 2015 12:24
UK listed bank Standard Chartered has had its rating promoted to 'overweight' from 'neutral' at JPMorgan. The US bank said that although it is hesitant to change its view for the arrival of the new chief executive which has been a material positive, "we believe that last week's UK budget may lead th
Read moreSmith & Nephew raised to 'buy' at Goldman Sachs
23rd Mar 2015 09:21
Smith & Nephew has been raised to 'buy' from 'neutral' at Goldman Sachs on Monday due to improving fundamentals and under-appreciated strategic value. Goldman also increased its target price on the stock, up to 1300p from 1200p. The bank said Smith & Nephew's stock has been a notable under-performe
Read moreBroker tips: Tullow Oil, Smith & Nephew, Johnson Matthey, Cairn Energy
11th Mar 2015 11:33
Westhouse Securities has maintained a 'buy' recommendation on Tullow after the oil producer and explorer delivered a positive update on its appraisal programme in Kenya. "Tullow is now trading at an unprecedented 36% discount to our core net asset value [forecast] despite having high margin producti
Read moreJPMorgan expects M&A premium at Smith & Nephew to unwind as Stryker hopes fade
11th Mar 2015 11:05
The M&A premium factored into the price of Smith & Nephew (S&N) will likely start to unwind, according to JPMorgan Cazenove, which said that a takeover by US medical devices peer Stryker is now "unlikely". The bank retained a 'neutral' rating and 1,040p target price on the UK stock. Last week's ann
Read moreLondon close: Mixed data, weak earnings pull FTSE below 6,900
3rd Mar 2015 16:33
A mixed batch of economic data and weak corporate earnings gave investors the excuse to take profits on Tuesday, as markets continued to retreat from their recent record highs. London's FTSE 100, which had started the day in positive territory, swung sharply into the red by mid-morning and extended
Read moreSmith&Nephew continues spree of purchases in emerging markets
3rd Mar 2015 14:31
Medical device-marker Smith&Nephew continues to snap-up assets in emerging markets. The FTSE 100-listed firm on Tuesday announced the purchase of EuroCiencia Colombia, its sole distributor for orthopaedic reconstruction, trauma and sports medicine products in that South American country. The terms
Read moreFTSE 100 movers: Barclays and Glencore fall after annual results, Taylor Wimpey higher
3rd Mar 2015 13:44
Shares in Barclays fell after the bank set aside a total of £1.25bn for provisions to cover litigation costs related to ongoing probes into mis-selling PPI and rigging foreign exchange rates. The news came as Barclays reported a pre-tax loss of £532m for the fourth quarter. Commodities trader and mi
Read moreFriday tips round-up: Smith&Nephew, Vodafone
6th Feb 2015 14:26
Orthapaedics manufacturer Smith&Nephew has proved deft at moving into high-growth areas while slashing costs. Nonetheless, the shares are overpriced. Since 2011 the company has splashed out $2.8bn on 15 different acquisitions, moving into areas such as sports medicine, thus reducing its dependency o
Read moreLondon close: Stocks end slightly higher despite mixed Eurozone news
5th Feb 2015 17:20
Mixed newsflow from the Eurozone kept financial markets busy on Thursday, though a late rally pushed UK stocks into positive territory by the close. London's FTSE 100 finished the day up just 0.1% at 6,866, but had bounced strongly after hitting an intraday low of 6,808.19. The European Central Ban
Read moreSmith & Nephew CFO sells shares following interim results
5th Feb 2015 16:10
Smith and Nephew's chief financial officer sold some shares in the UK-based medical equipment maker the same day that the group posted full-year results with revenues up 6%. Julie Brown sold 11,789 shares for an individual price of 1,181p, raising a total of £139.228 in the transaction. The shares w
Read moreFTSE 100 movers: BT higher on EE takeover Easyjet nosedives on weak passenger numbers
5th Feb 2015 14:55
BT surged after confirming reports it has settled on terms of its acquisition of EE from Deutsche Telekom and Orange, saying it will be spending £12.5bn on the UK mobile network. The deal will be financed by new debt and a £1bn placing of its shares and will result in Deutsche Telekom and Orange tak
Read moreLondon midday: Stocks retreat as Greek concerns rise
5th Feb 2015 12:08
UK stocks fell for a second day on Thursday as optimism surrounding the situation in Greece began to fade and a raft of corporate earnings and updates received a mixed reaction from the market. London's FTSE 100 was down 0.4% at 6,830 by midday, though had bounced off a low of 6,808.19 reached early
Read moreLondon open: UK stocks fall as Greek optimism fades, corporate earnings mixed
5th Feb 2015 09:09
UK stocks declined on Thursday as newsflow from Greece prompted an element of caution on financial markets, as the FTSE 100 continued to retreat from a five-month high. London's blue chip index was down 0.4% at 6,836 early on, with updates from a number of blue chips receiving a mixed reaction from
Read moreBroker tips: Wm Morrison, Smith & Nephew, Debenhams
13th Jan 2015 12:17
Markets may have reacted positively after Wm Morrison's agreed to part company with chief executive Dalton Philips alongside a small improvement in sales trends, but Shore Capital remains unconvinced. The broker kept a 'hold' rating on the stock, saying: "The improving trend revealed for the Christm
Read moreLondon close: Stocks gain despite Greek political turmoil
29th Dec 2014 16:04
London stocks rose on Monday despite the risk of fresh Eurozone uncertainty as Greece's failure to choose a new president triggered elections. The FTSE 100 Index closed 23.58 points ahead at 6633.51 in London after Greek lawmakers failed to elect a new president in a final round of voting. It means
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