Sector movers: US jobs data sees investors flee from risk
6th Jul 2012 15:14
With disappointing jobs figures from the US prompting a sell-off in global stock markets, the defensive sectors were benefitting from the risk-off environment. The US Labor Department revealed that 80,000 non-farm payrolls were added in June, less than the 100,000 expected by analysts. The jobless
Read moreSSE to spend 'significantly' over next few years
27th Jun 2012 07:44
Utilties giant SSE is setting out its investment plans for large capital projects in meetings with analysts and investors on Wednesday, saying that capital and investment expenditure over the next few years will continue to be 'significant'. SSE expects just over £1.6bn in capital and investment ex
Read moreSSE buys Irish power company
25th Jun 2012 11:08
SSE, the energy company once known as Scottish and Southern Energy, has bought Northern Irish outfit Phoenix Supply, as it continues its expansion on the island of Ireland. The enterprise value of the business is £19.1m, excluding working capital adjustments. SSE, through its subsidiary Airtricity
Read moreFriday broker round-up
22nd Jun 2012 10:37
Ashtead: UBS raises target from 320p to 340p, buy rating unchanged. Avon Rubber: Investec downgrades to hold, keeps 315p target. BAE Systems: Investec downgrades to hold, target cut from 360p to 290p Bovis Homes: Liberum Capital downgrades to hold. Cobham: Investec downgrades to sell, target cut
Read moreSector movers: Dollar weakness lifts metal processors
15th Jun 2012 16:38
With the dollar declining and making metals cheaper, it was a good day for the Industrial Metals and Mining Sector. Berkeley Mineral Resources (BMR) missed out, however, after signing an agreement with Chinese metals processor Yunnan Xiangyun Feilong Non-ferrous Metal. The two are planning to form
Read moreLondon pre-open: FTSE to rise on reports of central bank action
15th Jun 2012 07:33
City sources predict the FTSE 100 will open up 28 points from yesterday's close of 5,467, boosted pushed higher by reports that central banks are possibly planning coordinated action if required after this coming weekend's Greek elections. With votes scheduled in Greece, Egypt and France this week
Read moreSSE buys Irish electricity firm
15th Jun 2012 07:08
SSE is set to become Ireland's third biggest electricity company after it announced a multi-million pound takeover of Endesa Ireland. The company is paying €320m - around £256m - plus an estimated €43m (£34m) for working capital. SSE will take over four power plants as well as another that is und
Read moreSector movers: Havens appeal as World Bank cuts growth forecast
13th Jun 2012 16:34
With concerns mounting once more over the Eurozone debt crisis ahead of this week-end's Greek General Election investors were happy to seek out the relative safety of utilities such as power providers SSE and Drax. SSE's appeal was underlined by Barclays, which suggested clients be overweight in th
Read moreTuesday newspaper round-up: BoE, House sales, RBS
12th Jun 2012 07:04
Global markets suffered on Monday as early optimism over Spain's 100bn euros (80bn pounds) bail-out proved short-lived, amid fears over the strings attached to the international effort to save its banks and concerns about its mushrooming sovereign debt. Stocks initially climbed and Spanish borrowing
Read moreLondon close: Spain in focus after bailout rumours
8th Jun 2012 16:37
- Spanish bailout could be on the cards - Fitch downgrades Spain to BBB - Investors look ahead of Chinese data this weekend Rumours about an imminent recapitalisation of Spain's banking sector and concerns over global growth were doing the rounds on Friday, yet the Footsie still managed to pare los
Read moreLondon midday: Stocks weighed down by Spain, Bernanke
8th Jun 2012 11:40
- Spain downgraded by Fitch - Bernanke comments weigh on markets - Investors nervous ahead of Chinese data this weekend - Spain denies rumours of imminent bank bail-out petition Blue chips were off their intraday lows but still firmly in the red by Friday lunchtime as concerns over Spain continued
Read moreLondon open: Spanish downgrade dents stocks early on
8th Jun 2012 08:27
- Fitch downgrades Spain to BBB - Bernanke warns of risks to US economy - Lamprell tanks after profit warning London's FTSE 100 index dropped into the red in early trading on Friday after Spain's credit rating was downgraded last night, exacerbating concerns about the country's troubled banking sec
Read moreWednesday broker round-up
30th May 2012 09:31
Aberdeen: UBS cuts target from 340p to 300p, buy rating unchanged. Ashmore: UBS cuts target from 420p to 380p, buy rating unchanged. AVEVA: Merchant Securities raises target from 1,800p to 1,850p, buy rating unchanged. Centrica: Nomura cuts target from 355p to 320p, neutral rating kept. Drax: No
Read moreSector movers: Defensives bear the brunt of increased risk appetite
29th May 2012 15:24
Defensive sectors were firmly out of favour on Tuesday as investors shifted into 'riskier' assets such as mining stocks. Food and drug retailers were the worst performers, with heavyweight supermarket peers Tesco, Sainsbury and Morrison registering moderate losses in afternoon trade. Other defensi
Read moreLondon close: Stocks rebound, EU summit eyed
21st May 2012 17:14
- G8 underwhelms; markets look to EU summit - Hollande expected to push eurobond idea to Merkel - Risk-on as financials, miners advance; defensives sold London's FTSE 100 finished firmly higher on Monday following a poor performance last week which saw the blue chip index slump to its worst levels
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