Wednesday broker round-up
22nd Apr 2015 12:33
BHP Billiton: UBS reiterates buy and 1,625p target price. Rio Tinto: Deutsche Bank stays at buy and 4,200p target. Sky: Goldman Sachs maintains neutral and 1,200p target. Associated British Foods: Nomura lifts target to 2,850p from 2,760p and reiterates neutral. ARM Holdings: Exane BNP reiterates
Read moreLondon midday: FTSE falls as Tesco erases gains and financial stocks weaken
22nd Apr 2015 12:11
Following a temporary foray into positive territory, UK stocks were firmly lower by Wednesday lunchtime as supermarket giant Tesco erased earlier gains after reporting an eye-watering £6.4bn annual loss. London's FTSE 100 was down 0.66% at 7,016.59 by midday, pulling back quickly after a brief stint
Read moreBroker tips: Tesco, StanChart, BT Group, Tate & Lyle
22nd Apr 2015 11:44
Record annual losses from Tesco were widely attacked by financial analysts and City traders but there was optimism that the results showed several hints of a turnaround. Deutsche Bank took an optimistic view: "While there are arguably a few more downward pressures than upward pressures, we don't exp
Read moreCredit Suisse turns sour on sweeteners group Tate & Lyle
22nd Apr 2015 09:28
Shares in sugar, sweetener and food ingredients group Tate & Lyle were losing their flavour on Wednesday after analysts at Credit Suisse lowered their rating on the stock from 'neutral' to 'underperform'. The bank's downgrade, which included cutting its target price from 615p to 600p, followed the c
Read moreTate & Lyle unveils restructuring plans
21st Apr 2015 08:42
Food ingredients maker Tate & Lyle is set to implement a restructuring process, which will see the company leave the majority of its European bulk ingredients business and make changes to its Splenda sucralose division. The FTSE 250 group said it will receive €240m (£172.58m) from Archer Daniels Mid
Read moreWednesday broker round-up:
8th Apr 2015 16:42
AstraZeneca: Morgan Stanley lifts target price to 4,500p from 4,300p, reiterates underweight. BG Group: Canaccord Genuity improves target price to 1,300p from 1,016p and downgrades to hold. GlaxoSmithKline: Deutsche Bank raises target price to 1,600p from 1,300p and reiterates hold. Tate&Lyle: Num
Read moreNumis cuts Tate & Lyle from 'buy' to 'hold'
8th Apr 2015 10:50
Numis Securities has lowered its recommendation for Tate & Lyle from 'hold' to 'reduce', saying there is "little to excite" investors of the sweeteners and sugar group. The broker said there have been few surprises since the small profit warning from Tate in February for the fiscal year (FY) ended 3
Read moreFTSE 250 movers: Oil stocks higher as Saudi Arabia boosts prices
7th Apr 2015 16:53
Oil stocks were in demand on Tuesday as traders played catch-up with gains in crude futures over the last few days. During the weekend Saudi Arabia increased its official price for Asian oil buyers, which markets interpreted as a sign of improving demand. The battered shares prices of energy and exp
Read moreTate & Lyle's sweetener business eyed up by Japanese rival Ajinomoto
7th Apr 2015 07:35
British sugar maker Tate & Lyle's alternative sweetener product is reportedly being eyed by Japanese aspartame maker Ajinomoto. Without citing sources, the Sunday Telegraph reported over the weekend that Ajinomoto is considering a bid for the Splenda business. The report comes after Tate & Lyle las
Read moreJapanese firm eyes up Tate & Lyle's Splenda division
6th Apr 2015 14:48
There looks to be good news for Tate & Lyle with reports that Ajinomoto, a Japanese sweetener maker, has its eye on the group's struggling Splenda division. The FTSE 250 group said last week that it would finalise its plans for the division at a meeting due to take place this month. However, accord
Read moreThursday tips round-up: Tate&Lyle, BTG
2nd Apr 2015 23:49
Tate&Lyle surprised investors with its full-year pre-tax profit guidance. However, while management has drawn a line under a horrendous 2014 it has a lot of hard work ahead to shore-up investor confidence. The outfit now expects profits of between £230 to £245m, which is "modestly" lower than previo
Read moreLondon close: Stocks rise tentatively ahead of four-day weekend, M&S jumps
2nd Apr 2015 16:37
Strong performances from Marks & Spencer and others in the retail sector pushed London stocks higher on Thursday ahead the four-day weekend. However, gains were only modest on the back of mixed economic data, UK political uncertainty and concerns over Greece. The FTSE 100 was up 0.35% by the end of
Read moreLondon midday: Retail stocks buoy markets led by M&S, but upside limited
2nd Apr 2015 12:01
London's stocks edged higher on Thursday ahead of the long weekend, helped in no small part by strong gains in the retail sector. However, gains were only modest as developments in Greece and uncertainty ahead of a live political debate in the UK weighed on sentiment. Meanwhile, mining stocks weaken
Read moreLondon open: M&S gains, but UK stocks flat ahead of long weekend
2nd Apr 2015 08:46
High street department store Marks & Spencer led retailers higher on Thursday morning, though the wider markets was kept broadly flat as concerns about Greece and UK political uncertainty limited upside. M&S shares surged 5.5% after an unexpected return to growth in clothing sales, while Dunelm and
Read moreTate & Lyle expects annual profit to be marginally lower
2nd Apr 2015 08:03
Ingredient and beverage provider Tate & Lyle reiterated guidance for the current financial year, saying that it expected profit to be lower than initial estimates. The FTSE 250 group said it expected pre-tax for the year ended 31 March to be "modestly" below the £230m to £245m range first stated in
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