Tullett Prebon reports stable trading with only sporadic volatility
6th May 2015 08:07
Trading conditions in the wholesale market for over-the-counter financial instruments were subdued, albeit stable, at the start of 2015 according to inter-dealer broker Tullett Prebon, with volatility across financial markets in general described as sporadic. In the first four months of the year, an
Read moreFTSE 250 movers: Moneysupermarket crumbles on compensation concerns
3rd Mar 2015 14:14
Despite strong results and positive sentiment from many analysts, Moneysupermarket.com led the fallers due to weekend comments from the chairman of the government's Energy and Climate Change Committee, Tim Yeo MP, who called for price comparison companies to compensate customers who had been "duped"
Read moreTullett Prebon reports drop in full-year profit amid tough trading conditions
3rd Mar 2015 10:16
Interdealer money broker Tullett Prebon reported a drop in full-year pre-tax profit, reflecting difficult trading conditions in the sector and tougher regulation. Pre-tax profit came to £86.6m, down from £99.6m the previous year. Revenue declined to £703.5m from £803.7m as volumes were adversely aff
Read moreFTSE 250 movers: Greggs on the rise, Debenhams falls after positive Christmas sales
13th Jan 2015 15:01
Debenhams was falling despite record Christmas sales. Although the company saw a 4.9% rise in underlying sales in the last four weeks of 2014, it recorded a 0.8% drop over the last three months. Greggs was rising after revealing an 8.2% boost in December like-for-like sales. The company announced th
Read moreLondon midday: UK stocks surge on PBoC stimulus, ECB hopes
21st Nov 2014 12:00
UK stocks jumped on Friday as resources shares raced ahead after China's central bank surprised the market with its first interest-rate cut in two years in an effort to boost growth. After falling for the last two sessions, the FTSE 100 was up 0.8% at 6,733 by midday with the heavyweight mining and
Read moreLondon open: Oil and mining stocks push FTSE higher early on
21st Nov 2014 08:35
The UK stock market rebounded on Friday morning after two days of declines, as mining shares recovered after recent losses. Concerns about slumping iron-ore prices - currently trading at five-year lows - and slowing growth in China weighed heavily on the heavyweight resources sector in London on Thu
Read moreTullett Prebon announces placing to part fund PVM deal
21st Nov 2014 07:59
Tullett Prebon, the FTSE 250-listed inter-dealer broker, is set to raise over £32m from a placing to help fund the acquisition of PVM Oil Associates. The announcement of the placing, which was set at a steep discount to its share price the previous day, saw Tullett's shares fall sharply on Friday.
Read moreBroker tips: Croda, Experian, Tullett Prebon
7th Nov 2014 11:57
Specialty chemicals manufacturer Croda has multiple positive features, yet even after the recent share-price underperformance those are more than fully reflected in the share price, Canadian broker Canaccord Genuity said in a research report sent to clients. Additionally, it expects the firm's futur
Read morePeel Hunt believes a higher rating is not appropriate for Tullet Prebon
7th Nov 2014 11:18
Despite the improved market conditions seen over the last few months and the fact that the 14% decline in revenues year-to-date was in line with its forecasts, broker Peel Hunt believes that a higher rating for inter-dealer broker Tullett Prebon is not justified. True, trading on December 2015 price
Read moreTullett Prebon cuts jobs as revenues hit by market challenges
7th Nov 2014 08:21
Interdealer money broker Tullett Prebon said revenue in the four months to October fell 4% to £233m at constant exchange rates amid challenging market conditions. In the year to date revenue dropped 11% compared to a year ago. The group plans to reduce headcount and other fixed costs following the
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreTullett Prebon ex-employee investigated by SFO for LIBOR manipulation
29th Oct 2014 08:18
Criminal proceedings against a former employee of Tullett Prebon have been issued by the Serious Fraud Office (SFO). Noel Cryan is being investigated in connection with the manipulation of the London Interbank Offered Rate (LIBOR). It is alleged he conspired to defraud between 1 February and 3 Dece
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 moreThursday broker round-up UPDATE
31st Jul 2014 09:30
Afren: Oriel places both target price and recommendation under review. Canaccord Genuity places both its target price (prev.: 150p) and its hold recommendation under review. Investec places its target price (prev.: 195p) under review and downgrades from buy to hold. Arbuthnot: Numis ups target pric
Read moreWednesday broker round-up UPDATE
30th Jul 2014 09:50
Antofagasta: Westhouse Securities downgrades from add to neutral with a target price of 885p. Investec places its target price (prev.: 690p) under review, while keeping its sell recommendation. Aureus Mining: FinnCap lowers target price from 66p to 62p maintaining a buy recommendation. British Ame
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