London afternoon: BP rises again
1st Jul 2010 14:37
Leading shares moved sideways over the lunch time session, with the Footsie staying in the red despite a surge by beleaguered oil giant BP. BP is close to emulating the 5% rise it achieved yesterday. The shares have been on a roll ever since JPMorgan Cazenove indulged in what it called "fantasy M&A
Read moreBroker tips: Debenhams, Tate & Lyle, Burberry
1st Jul 2010 13:16
Department stores group Debenhams was the best performing FTSE 250 stock on Thursday morning after a trading update but KBC Peel Hunt notes that it continues to trade on what the broker regards as an undeserved discount to the retail sector. Though like for like sales comparisons have softened ther
Read moreBroker snap: Tate & Lyle gets good price for business
1st Jul 2010 13:02
The market seems sweet on Tate & Lyle's decision to offload its sugar refining business, with the shares being one of the few to make headway on Thursday morning. The sale price of the business, £211m, was ahead of the £150m to £175m range Panmure Gordon had been expecting, and gives the company mo
Read moreLondon midday:Stocks pare losses
1st Jul 2010 12:11
Leading shares finished the morning session well above their low levels though the Footsie remained in arrears on lingering fears about a slowdown in economic growth in China and concerns over Spain's sovereign debt after ratings agency Moody's said it was considering lowering its rating by a notch
Read moreMARKET TALK: Panmure Raises Tate & Lyle Price Target
1st Jul 2010 10:19
0919 GMT [Dow Jones] Panmure Gordon raises Tate & Lyle (TATE.LN) price target to 500p from 440p after the company said it's disposing of its EU sugar refining business. "This is a significant development in [CEO] Javed Ahmed's strategy of focusing on added-value food ingredients and obviously gives
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
1st Jul 2010 10:19
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0919 GMT [Dow Jones] Panmure Gordon raises Tate & Lyle (TATE.LN) price target to 500p from 440p after the company said it'
Read moreLondon open: Stocks deep in the red
1st Jul 2010 08:58
London's top stocks have started with hefty losses as sentiment was hit by a weak manufacturing report in China and warning by Moody's Investors Service that it may cut Spain's credit rating. Asian stocks were hit after China's purchasing managers' index fell to 52.1 in June from 53.9 a month earli
Read moreMARKET TALK: Tate & Lyle Sugar Sale Makes Sense For Strategy
1st Jul 2010 08:11
0711 GMT [Dow Jones] Tate & Lyle'S (TATE.LN) decision to sell its EU sugar refining operations is not a surprise with the sugar business becoming increasingly non core says Shore Capital. Thinks the deal makes sense for Tate, increasing focus within the group, while reducing debt/EBITDA to about 1.
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
1st Jul 2010 08:11
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0711 GMT [Dow Jones] Tate & Lyle'S (TATE.LN) decision to sell its EU sugar refining operations is not a surprise with the
Read moreUPDATE: Tate & Lyle Sells EU Sugar-Refining Operations
1st Jul 2010 07:59
(Adds detail.) By Jonathan Buck Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Tate & Lyle PLC (TATE.LN) Thursday announced the sale of its sugar refining operations in the European Union to American Sugar Refining Inc. for GBP211 million in cash, advancing its strategy to focus on its spe
Read moreMARKET TALK: Tate & Lyle Sugar Ops Disposal A 'Sweet Deal'
1st Jul 2010 07:50
0650 GMT [Dow Jones] Tate & Lyle's (TATE.LN) disposal of its sugar refining operations in the European Union to American Sugar Refining Inc for GBP211M in cash is a "sweet deal", says an analyst. Says this deal will help to reduce the company's debt, which stood at GBP814M at March 31. Analyst adds
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
1st Jul 2010 07:50
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0650 GMT [Dow Jones] Tate & Lyle's (TATE.LN) disposal of its sugar refining operations in the European Union to American Suga
Read moreTate & Lyle Sells EU Sugar-Refining Operations For GBP211M
1st Jul 2010 07:34
By Jonathan Buck Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Tate & Lyle PLC (TATE.LN) Thursday announced the sale of its sugar refining operations in the European Union to American Sugar Refining Inc. for GBP211 million in cash, advancing its strategy to focus on its specialty food ingredie
Read moreTate & Lyle to Sell Sugar Refining Unit For GBP211M
1st Jul 2010 07:19
LONDON (Dow Jones)--Tate & Lyle PLC (TATE.LN) announces Thursday it has signed an agreement for the sale of its E.U. Sugar Refining operations, or E.U.S., to American Sugar Refining, Inc. for GBP211 million payable in cash, subject to closing adjustments for net cash and working capital, with the pr
Read moreTate & Lyle starts sugars business sell-off
1st Jul 2010 07:00
Tate & Lyle has sold the largest part of its sugars division to American Sugar Refining of the US for £211m - a deal that will see it lose some of its well known brands. The group also said it planned to sell the remaining businesses within the Sugars division, principally Molasses and Vietnamese s
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