Broker snap: HSBC slashes Thomas Cook price target
24th Nov 2011 15:56
On the day the shares of cash-strapped package tour operator Thomas Cook staged a spirited recovery, HSBC reiterated its neutral recommendation for the stock and slashed its price target to 13p from 47p. This reduction comes after the travel agency announced it is in negotiations with banks to obt
Read moreLondon midday: Stocks seeking direction
24th Nov 2011 12:02
As was the case yesterday morning (before it all went downhill in the afternoon session), equities have endured a dull session in London. Footsie spent much of the morning in positive territory, largely on the strength of good showings by banks and miners. Gains might have been a bit more impress
Read moreLondon open: Thomas Cook, Dixons jump higher
24th Nov 2011 08:34
The Footsie was trading broadly flat early on, swinging between small gains and losses in the opening minutes. Weighing on sentiment was a poll by Reuters/Ipsos MORI which showed that the majority of Britons (58%) believe the economy will get worse over the next year. That is the highest figure sin
Read moreThursday preview: Dixons, Future, GDP ... but not Thos. Cook
23rd Nov 2011 19:05
In some ways, Thursday's results agenda is dominated by a company which now won't be issuing its figures this week: Thomas Cook. The company yanked its results announcement scheduled for Thursday while it holds another round of emergency talks with its bankers to winkle out some more cash to tide it
Read moreLondon close: German bond auction response unnerves investors
23rd Nov 2011 17:05
After an uneventful morning session that came as a relief after the turbulent events of recent days, shares turtned sharply lower in the afternoon session, as US markets took a bath. The results of this morning's German bond auction set nerves a-jangling. Germany issued €3.644bn in 10-year bonds
Read moreFTSE 250 Movers: Thomas Cook regains lost ground
23rd Nov 2011 15:33
Thomas Cook was regaining lost ground after plummeting on Tuesday on the revelation that it would delay the release of its results until it has asked its banks about borrowing more money. The company is running short of cash due to a "deterioration of trading in some areas of the business in the cur
Read moreBroker snap: TUI hit by Thomas Cook's woes, Peel Hunt cuts target
23rd Nov 2011 13:41
Peel Hunt has assessed the impact that Thomas Cook's travails have had on sector peer TUI Travel, which dropped 9% yesterday on the back of concerns surrounding its rival. Thomas Cook revealed yesterday that it would delay the release of its results until it has asked its banks about borrowing more
Read moreLondon midday: Reassuringly dull morning session
23rd Nov 2011 12:01
It has been a comfortingly dull morning session in London after all the excitement of recent weeks, though there is no sign of Footsie bringing an end to its losing streak, though its cause is not helped by the index constituents Man, Next and Standard Life trading in ex-dividend form. MINERS HEAD
Read moreLondon open: Chinese data weighs on stocks
23rd Nov 2011 08:31
The Footsie fell below the 5,200 level early on, as some gloomy data from China dampened the mood. Weighing on sentiment today is the poor data out from China, which showed factory activity levels dropping to their lowest in 32 months. The HSBC flash manufacturing purchasing managers' index (PMI),
Read moreWednesday newspaper round-up: Thomas Cook, Stress tests, Nokia...
23rd Nov 2011 06:10
Thomas Cook customers must make sure that they have "robust financial protection" following yesterday's news that the travel firm is in talks with its banks about funding, reports the Times. "Travel experts warned holidaymakers to ensure that they had a "triple lock" of protection in place to ensure
Read moreLondon close: Footsie extends losing streak
22nd Nov 2011 16:42
After spending almost all of the day in the blue and threatening to end a six-day losing streak, Footsie tumbled at the death to extend its miserable sequence. Disappointing third quarter gross domestic product data from the US played a part in London's late swoon. The second estimate for third qu
Read moreSector movers: Thomas Cook, IAG drag down travel stocks
22nd Nov 2011 14:14
The travel and leisure sector was dragged lower on Tuesday after Thomas Cook plummeted over 70% after saying that it was in talks with its banks about borrowing more money. Thomas Cook said it was going back to its banks because of a "deterioration of trading in some areas of the business in the c
Read moreFTSE 250 Movers: Thomas Cook in talks with its bankers
22nd Nov 2011 13:15
Shares in travel firm Thomas Cook continued their downward spiral after the firm said it was in talks with its banks about borrowing more money. Shares dropped over 50% from the outset and were trading nearly 70% lower in the afternoon. Thomas Cook said it was going back to its banks because of a
Read moreBroker tips: Standard Chartered, Thomas Cook, Mitchells & Butlers
22nd Nov 2011 12:50
Following their attendance at a set of recent company presentations, analysts at Nomura were writing today that, "Overall, we came back from the trip thinking Standard Chartered´s (STAN) target of double-digit revenue growth for 2011 and beyond is achievable." More specifically, they cite the bank´
Read moreLondon midday: Miners on the rise, defence stocks down on US fears
22nd Nov 2011 12:23
London's blue chip index held on to gains in morning trade, recovering after a six-day sell-off. While markets are still concerned with the ongoing troubles in the Eurozone, fears over the credit rating of the US eased after Standard & Poor's and Moody's reiterated their ratings last night. Neverth
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