London midday: Markets rangebound but winning streak continues
16th May 2013 11:34
The FTSE 100 was continuing to trade within an extremely tight range on Thursday morning as investors consider how much further the rally will go given that the index is already trading at levels not seen in five and a half years. Just 15 points separated the Footsie's intraday low (6,693) and hig
Read moreBroker tips: Aviva, RBS, Lloyds...
16th May 2013 11:31
Investec has kept its 'reduce' rating and 316p target price for insurance giant Aviva despite a well-taken first-quarter trading update from the firm on Thursday. "There are signs of improvement in the 1Q numbers, but progress in one area is matched by difficulties in another. Fixing Aviva is likel
Read moreBroker snap: Prime Markets a fan of Thomas Cook's new strategy
16th May 2013 11:30
Prime Markets has labelled travel agent Thomas Cook as a 'buy', hailing the new strategy of Chief Executive Officer (CEO) Harriet Green. The company announced on Thursday that its loss before tax was £390.9m in the half year to March 31st, much improved from the £584.1m loss the year before, despit
Read moreThursday broker round-up UPDATE
16th May 2013 07:43
Barratt Developments: Deutsche Bank lowers target price from 336p to 327p, while leaving its buy recommendation unaltered. BG Group: Credit Suisse raises target price from 1150p to 1190p keeping a neutral rating. BT Group: Berenberg takes target price from 280p to 375p and retains a buy recommenda
Read moreThomas Cook unveils favourable outlook, capital restructuring
16th May 2013 07:38
Travel company Thomas Cook has unveiled a 2.6 per cent drop in interim revenues, to 3.224bn pounds despite what management described as "encouraging current trading with strong bookings and gross margins," while at the same time managing to reduce costs ahead of schedule and providing a favourable o
Read moreThursday newspaper round-up: Japanese GDP, RBS, RSA...
16th May 2013 06:47
Financial Times reports that the pace of Japanese economic growth in the first quarter was its fastest among the Group of Seven countries at 3.5 per cent. "Solid growth in consumer spending and exports suggest[s] the expansionary policies of Shinzo Abe, Prime Minister, are delivering quick and tangi
Read moreThomas Cook completes sale of North American business
2nd May 2013 08:12
Travel group Thomas Cook has completed the sale of its North American business to Red Label Vacations. The business, which operates a tour operator and distribution network in Canada, was sold for £3.4m based on March exchange rates. The sale was made to allow the company to focus on its core se
Read moreLondon close: Markets hammered by fears over US labour market
5th Apr 2013 17:03
A lacklustre US employment report resulted in a market sell-off across global indices on Friday afternoon as the American economy added much fewer jobs than expected in March. Market Analyst Craig Erlam from Alpari said that the optimism surrounding the US recovery "has been shattered in the space
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreThursday broker round-up UPDATE
14th Mar 2013 07:11
Amara Mining: After having been under review, Cantor Fitzgerald reinitiates coverage with a price target of 81p and a buy recommendation. Antofagasta: Citigroup shifts target price from 990p to 1000p, but retains its sell recommendation. Ashtead Group: Investec raises target price from 475p to 700
Read moreLondon midday: FTSE 100 pulls back from five-year highs
13th Mar 2013 11:33
Stocks pulled back from five-year highs on Wednesday morning as traders took profits after industrial production data from the Eurozone disappointed. So far this year, the FTSE 100 index has gained nearly 10% and was yesterday trading near levels not seen since late 2007. Weighing on markets this
Read moreThomas Cook soars after strategy update
13th Mar 2013 11:21
Shares in travel agent Thomas Cook Group rose sharply on Wednesday after investors reacted very positively to the company´s strategy update. The firm reported that its business transformation was gaining momentum with a further £50m of cost-out actions having been identified, bringing total profit
Read moreWednesday broker round-up UPDATE
13th Mar 2013 08:28
Afren: UBS raises target price from 160p to 200p and reiterates a buy recommendation. African Barrick Gold: Westhouse Securities reduces target price from 255p to 195p and keeps a sell recommendation. Antofagasta: Deutsche Bank lowers target price from 1260p to 1150p, while staying with its hold r
Read moreTuesday broker round-up UPDATE
12th Mar 2013 07:19
Abcam:Investec shifts target price from 484p to 487p and keeps a buy recommendation. Admiral Group: UBS ups target price from 1200p to 1275p and reiterates a neutral rating. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite: Numis reduce
Read moreThomas Cook to cut 2,500 jobs and close 195 travel agencies
7th Mar 2013 14:08
Indebted travel company Thomas Cook is to slash 2,500 jobs and close 195 of its High Street stores in a bid to ensure its admin costs are 'as low as possible'. Over 15% of the group's staff will be cut, and the total number of travel agencies will be reduced to 874. Thomas Cook's Europe and UK C
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