Broker snap: Positive 2011 outlook for S&N
10th Feb 2011 13:14
Financial services firm Matrix has maintained its positive stance on Smith & Nephew (S&N), despite the departure of boss David Illingworth, as the broker expects to see strong growth in both S&N's Endoscopy and Advanced Would Management (AWM) divisions. "The retirement of the current chief executiv
Read moreBroker tips: BG, Autonomy, Smith & Nephew
10th Feb 2011 13:04
Even though RBS has raised its production forecasts for BG Group, the broker downgrades the oil titan to a 'hold' on the back of an upward revision to assumed capital expenditure (capex). To reflect revised guidance about Brazilian and US production, RBS has raised its 2015 and 2020 production fore
Read moreFTSE 100 movers: Smith & Nephew bucks trend
10th Feb 2011 12:37
Medical products supplier Smith & Nephew reported a strong rise in 2010 profit as well as the departure of its boss. Smith & Nephew saw revenue in the final quarter of 2010 remain more or less unchanged from a year earlier at $1,066m. That brought full year revenue up to $3,962m, up 4% from $3,772
Read moreLondon midday: Shares stuck lower after Bank holds rates
10th Feb 2011 12:29
Shares remain firmly in the red following the Bank of England's decision to leave interest rates and quantitative easing unchanged. The Bank has kept interest rates on hold at a record low of 0.5% Mixed results have added to the unsettled mood. Drinks giant Diageo raised revenues in the six months
Read moreTechMARK movers: Smith & Nephew results please market
10th Feb 2011 12:19
Medical products supplier Smith & Nephew reported a strong rise in 2010 profit as well as the departure of its boss. Smith & Nephew saw revenue in the final quarter of 2010 remain more or less unchanged from a year earlier at $1,066m. That brought full year revenue up to $3,962m, up 4% from $3,772
Read moreLondon open: FTSE 100 lower after mixed updates
10th Feb 2011 08:29
Shares are moving in both directions after updates, but the FTSE 100 is lower overall. Price rises and improved volumes in North America and continuing growth in emerging markets helped drinks giant Diageo lift revenues in the six months to December 31, but weakness in Europe resulted in profits m
Read moreLondon pre-open: Stocks set for modest retreat
10th Feb 2011 07:41
It's looking like a weaker start for London Thursday as small gains in the US overnight fail to offset losses in the Far East. Engine maker Rolls-Royce made slightly more money than expected in 2010 and predicts good profit growth this year despite government spending squeezing customers in the def
Read moreS&N expects to grow share, announces new CEO
10th Feb 2011 07:10
David Illingworth, chief executive officer of Smith & Nephew, is to bid farewell to the company but is leaving on an optimistic note as the artificial joint specialist expects to make market share gains in most parts of the business this year. Illingworth will relinquish the role of chief executiv
Read moreThursday preview: BoE rate decision, Shire, Diageo
9th Feb 2011 15:03
It is a big day for company results but even equity traders will be keeping an ear cocked for the Bank of England's announcement of its interest rate decision. Though two members of the Monetary Policy Committee (MPC) voted for a rate increase last month, up from just one the month before, the sma
Read moreTakeover targets named
29th Jan 2011 14:04
Hold on tight, a wave of patent expiries and generic competition could spark another round of consolidation in the pharma and medical devices sector this year. Billions of dollars have been spent on takeovers or pumped into new issues in recent months as confidence in the recovery grows and cash-ri
Read moreLondon close: Shares close lower despite M&A buzz
17th Jan 2011 16:39
London's leading share index is back below the 6,000 point mark after a sluggish day which saw downbeat miners offsetting mergers and acquisitions excitement. Miners such as Kazakhmys and Fresnillo were out of favour amid lower metals prices after China increased reserve requirements for banks in a
Read moreLondon afternoon: Footsie dips
17th Jan 2011 14:40
Leading shares lost ground over the lunchtime session, taking the Footsie back below the 6,000 level, with financials and miners featuring prominently among the losers. Miners such as Kazakhmys and Fresnillo are out of favour amid lower metals prices after China increased reserve requirements for b
Read moreFTSE 100 movers: Smiths rejects medical bid
17th Jan 2011 13:21
Smiths Group is the best performer today following the revelation that it turned down a £2.45bn bid for its medical division from private equity firm Apax. Credit Suisse had previously estimated the medical division was worth £2.1bn. Even so, Smiths did not want to pursue talks at the indicative b
Read moreTechMARK movers: Kofax sells hardware division
17th Jan 2011 12:53
Document automation software supplier Kofax is selling its hardware business to Hannover Finanz. Kofax expects to generate at least $20m in cash from the disposal of the imaging and archive storage equipment supplier, which should be completed in March. The business generated an operating profit o
Read moreLondon midday: Shares still seeking direction
17th Jan 2011 12:11
The top share index remains little changed despite the M&A excitement. US markets are closed today, so shares will have to look elsewhere for inspiration if they are to burst into life. BP is in demand after the oil giant announced a controversial landmark deal with Rosneft, the Russian state oil c
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