London midday: Stocks erase losses but weak earnings limit upside
30th Apr 2015 12:02
Uncertainty surrounding US monetary policy and a raft of poorly-received corporate earnings kept the FTSE 100 flat on Thursday morning, with the index fluctuating at its lowest in three weeks. The FTSE 100 was up just 0.09% at 6,952.66 by midday, with RBS, IAG and Schroders limiting upside after dis
Read moreSmith & Nephew reiterates annual guidance but warns of currency headwinds
30th Apr 2015 08:08
Medical services group Smith & Nephew reported a slight increase in first quarter revenue and reiterated its expectations for 2015. However, the FTSE 100 group said the strong dollar weighed on its performances in the first three months of the year, estimating a hit of approximately 8%, and warned i
Read moreMonday broker round-up
30th Mar 2015 18:40
Carnival: Numis upgrades to add with target price of 3,600p, Credit Suisse keeps at outperform, while Jefferies stays at underperform with 2,300p target. Barclays: JP Morgan Cazenove reiterates overweight. WPP: UBS reiterates buy, ups target to 1,700p from 1,500p. Marks&Spencer: Credit Suisse impr
Read moreBroker 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
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