Canaccord raises target price on "compelling" Synthomer proposition
30th Apr 2015 12:04
After an arguably mixed first-quarter update from chemicals group Synthomer, analysts at Canaccord Genuity reiterated its 'buy' recommendation and set a target price of 370p, a 14% premium to Wednesday's close. First-quarter trading update from the FTSE 250 group stated that trading had been in line
Read moreSynthomer on track on the back of Asian rubber bounce
30th Apr 2015 10:38
Chemical group Synthomer said first-quarter trading had been on target as the encouraging rebound at its Asian nitrile business continued to offset subdued conditions in developed markets and currency headwinds. Demand for nitrile rubber, which is most commonly used to make rubber gloves used by doc
Read moreFTSE 250 movers: Ladbrokes up after maintaining dividend, Playtech achieves record revenue and earnings
26th Feb 2015 14:18
Ladbrokes was boosted as it revealed it will not cut its 2015 dividend, despite posting a 14% drop in annual profit. Analysts had expected the group to make the cut to help fund marketing expenses, but the group will maintain an 8.9p dividend per share this year. In December, the group began a searc
Read moreSynthomer splashes out with special dividend after second-half recovery
26th Feb 2015 09:28
Chemicals group Synthomer has put a difficult year to bed, delivering full-year results slightly ahead of expectations and a special dividend after after a series of second-half downgrades. Looking forward to 2015 under newly appointed chief executive Calum MacLean, the FTSE 250 group remained cauti
Read moreSynthomer on track for FY target as strong demand in Asia boosts Q4 trading
16th Jan 2015 08:07
Chemical firm Synthomer said that despite lower demand through November and December unit margins improved due to a decline in the price of raw materials. The company cited an earlier-than-usual slowdown as the reason for sluggish demand, though it added that trading and profitability had been in li
Read moreSynthomer confirms new CEO appointment
18th Dec 2014 08:56
Polymers producer Synthomer PLC has confirmed that Calum MacLean will formally succeed Adrian Whitfield as the group chief executive on 22 January. Whitfield will step down from the board on 22 January and leave the company, the group said in a statement. "I am delighted to welcome Calum to the Boa
Read moreTuesday broker round-up UPDATE
4th Nov 2014 09:32
Aberdeen Asset Management: Credit Suisse ups target price from 440p to 455p and keeps a neutral rating. Anglo Eastern: FinnCap initiates with a target price of 880p and a buy recommendation. Ashmore: Credit Suisse downgrades to underperform. Barclays: Citi moves target price from 300p to 315p stay
Read moreThursday broker round-up UPDATE
30th Oct 2014 08:36
Afren: Deutsche Bank cuts target price from 130p to 110p retaining its hold recommendation. Antofagasta: JP Morgan lowers target price from 760p to 755p and reiterates a neutral rating. Investec lowers target price from 717p to 704p and keeps a hold recommendation. Balfour Beatty: Jefferies cuts ta
Read moreWednesday tips round-up: BG Group, Synthomer
29th Oct 2014 19:52
While BG Group waits for its new chief executive, Chris Finlayson, to arrive next spring the company's financials are heading in the wrong direction. A case in point, underlying earnings for the third quarter were off sharply, falling by nearly 30% to $759m. Over the first nine months of the year th
Read moreFTSE 250 movers: Vedanta climbs on bauxite hopes
29th Oct 2014 15:42
Diversified metals and mining major Vedanta Resources was higher after chairman Anil Agarwal said the problems with bauxite supplies to its Lanjigarh aluminium refinery in three or four month's time. "The state government has assured us that they are working on 2-3 alternative bauxite mines for our
Read moreFTSE 250 movers: African Barrick lifted by broker comment as Synthomer slides after profit warning
28th Oct 2014 11:21
African Barrick Gold climbed after Westhouse Securities moved its target price from 230p to 240p, keeping its 'add' rating. Renishaw extended Monday's gains, which came after it revealed that it now expects to continue to experience the revenue growth seen in its first quarter in the second half of
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreLondon open: UK stocks rise, but Lloyds and StanChart fall
28th Oct 2014 08:54
Despite some heavy falls from banking heavyweights Lloyds and Standard Chartered, UK stocks advanced on Tuesday morning as the FTSE 100 rebounded from a one-week low. London's benchmark index was up 0.6% at 6,404 in early deals, helped by decent gains from oil major BP. The Footsie closed at 6,363.
Read moreSynthomer delivers profit warning on weak European demand
28th Oct 2014 07:58
Essex-based chemicals business Synthomer delivered a profit warning to investors on Tuesday, saying that the demand momentum in Europe seen earlier in the year had tailed off. The FTSE 250 company, which develops polymers for consumer products, now expected full-year pre-tax profit to be "slightly b
Read moreSynthomer snaps up remaining half of Azko Nobel joint-venture
22nd Oct 2014 15:14
Chemicals group Synthomer has completed bought out joint venture Akzo Nobel's share of Eka Synthomer Oy, a Finnish paper latex producer. The FTSE 250 group paid €5m to purchase the remaining 50% of Eka Synthomer that it did not own. Synthomer and Azko Nobel joined forces behind the Finnish vehicle
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