Broker snap: Expect consensus downgrades for Spirax, says Jefferies
22nd Aug 2012 11:15
Jefferies has reiterated its 'hold' rating and 2,090p target price for steam trap and pump maker Spirax-Sarco after its interim results were 'somewhat disappointing'. The broker said in a research report on Wednesday morning: "We typically take a more pragmatic view than most on 'misses'; however S
Read moreWednesday broker round-up
22nd Aug 2012 09:20
888 Holdings: Shore Capital upgrades to buy. Afren: Jefferies raises target from 140p to 155p, buy recommendation maintained. Anglo American: JPMorgan Cazenove downgrades to underweight, target cut from 3,000p to 1,900p. Antofagasta: JPMorgan Cazenove upgrades to overweight, target lifted from 1,
Read moreLondon open: Japanese data dents the miners
22nd Aug 2012 08:30
- Japan swings to massive trade deficit - Greece to ask officials for more time - BHP and the miners fall steeply early on Following a strong rise for mining stocks on Tuesday, the sector was providing a drag in London this morning after gloomy economic data from Japan dampened sentiment and scale
Read moreSpirax-Sarco profits hit by costs and lower volumes
22nd Aug 2012 07:47
Steam trap and pump maker company Spirax Sarco reported a decline in pre-tax profits for the first half of 2012 following higher material costs, the impact of lower volumes in its main European factories and the economic downturn in Latin America. Revenue rose 2% from £307.7m to £313.5m, while adj
Read moreThursday broker round-up
16th Aug 2012 10:06
Aegis: UBS downgrades to neutral. Babcock: Espirito Santo downgrades to neutral. Balfour Beeatty: HB Markets downgrades to hold; Deutsche Bank downgrades to hold. BG Group: Morgan Stanley downgrades to equal weight. Capital Shopping Centres: Oriel Securities upgrades to hold. Carclo: N+1 Brewin
Read moreThursday broker round-up
28th Jun 2012 10:24
3i Group: Citigroup upgrades to buy, target lifted from 215p to 220p. Abcam: Investec upgrades to buy, target lifted from 349p to 466p; Peel Hunt raises target from 440p to 480p, buy rating unchanged. bwin.party: UBS cuts target from 165p to 125p, neutral rating unchanged. Cookson: UBS cuts targe
Read moreWednesday broker round-up - UPDATE
16th May 2012 08:26
Babcock: UBS raises target from 880p to 950p, buy recommendation unchanged. Barclays: UBS upgrades from neuter lot buy, target cut from 272p to 215p. Cineworld: Merchant Securities maintains buy rating and 244p target. Compass Group: Numis upgrades from add to buy, target left at 750p. Experian:
Read moreFTSE 250 movers: Renishaw in top spot on good growth
15th May 2012 16:05
Precision tool maker Renishaw leapt into the top spot after saying that despite continuing global macroeconomic headwinds it has seen good growth over the year to date and has started to see signs of an upturn in the electronics market. Also wanted was Babcock, the engineering support services com
Read moreFX head-winds getting stronger at Spirax-Sarco
15th May 2012 08:37
Unfavourable exchange rate movements have seriously slowed the organic growth sales rate this year at Spirax-Sarco Engineering, the peristaltic pumps specialist. The group said the organic sales growth rate for the first four months of the year was 6%, but total sales were up just 3%, largely due t
Read moreXP Power director make double purchase
17th Apr 2012 15:59
David Hempleman-Adams, a non-executive director of power controller manufacturer XP Power, has purchased two lots of shares less than a week after the firm cautioned over its revenues. The first purchase saw Hempleman-Adams, who joined the firm in 2008, snap up his first round of shares in the fir
Read moreARM directors chip off hefty chunk of their shares
15th Mar 2012 14:44
Two members of the Executive Committee of ARM, the FTSE 100 chip designer, sold off a total of 150,000 shares, received as part of the firm's long term incentive plan, earlier this week. Tom Lantzsch, Executive Vice President of Corporate Development, sold 50,000 shares at 575p each and another 50,
Read moreLondon open: Markets await news from Greece
8th Mar 2012 08:34
- Greek debt-swap participation rate estimated at 60 percent. - Markets await policy decisions from BoE, ECB. - ARM rises after iPad launch, Morrison jumps on strong 2011. London's blue chip index continued its strong performance ahead of policy decisions from the Bank of England (BoE) and the Euro
Read moreSpirax pumped up by 2012 prospects
8th Mar 2012 07:26
All segments of Spirax-Sarco Engineering were firing on all cylinders in 2011, as the peristaltic pumps specialist produced figures a shade ahead of market expectations. Revenue of £650.0m in 2011 was up 10% on 2010's £589.7m and ahead of market expectations of £639.6m. Organic sales growth was nea
Read moreWednesday tips round-up: G4S, Segro, Spirax-Sarco
24th Aug 2011 07:03
G4S, which notched up a resilient performance during the recession, is growing steadily in most of its markets, and that is likely to continue, according to the Investment Column at the Independent. Just look at the UK: the FTSE 100-listed business has lost its contract to transport prisoners to and
Read moreSpirax Sarco steaming ahead
23rd Aug 2011 08:10
Steam trap and pump maker company Spirax Sarco has reported mixed results in its half year report. While revenue was up 11% on a like-for-like basis from £277m to £307.7m, pre-tax profit took a small hit, down 1% to £60.8m from £61.3m last year. Adjusted profit before tax, which excludes certain e
Read more