Wednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreLondon open: FTSE snaps five-day winning streak ahead of Inflation Report, banks fall
12th Nov 2014 08:33
UK stocks declined on Wednesday, snapping a five-day winning streak that sent the FTSE 100 to a six-week high, as investors digested a wave of corporate earnings and awaited the Bank of England's (BoE) Inflation Report. News of a massive fine across the UK banking sector was also dragging high stree
Read moreTullow Oil reviews costs amid low oil prices as it reports in-line trading
12th Nov 2014 07:50
Tullow Oil is reviewing its costs in light of low international oil prices, according to a trading update on Wednesday. The group said its financial performance in the year to date, before exploration write-offs and impairment charges, was in line with expectations. Average working interest product
Read moreFTSE 100 movers: Vodafone shares higher after upbeat interims
11th Nov 2014 15:04
Vodafone shares surged after the mobile telecoms group impressed with its interim results and outlook, with earnings guidance for the full year now guided towards the higher end of expectations. Strong consumer demand for data helped revenues rise 8.9% in the six months to 30 September to £20.8bn, m
Read moreSector movers: Oil and mining stocks track commodities lower, Brent drops
11th Nov 2014 13:59
A sell-off across the commodities market on Tuesday meant that the oil and mining sectors were the worst performers on London's stock market, as falling crude and metal prices prompted concerns about companies' bottom lines. Stocks such as Tullow Oil, BG Group, Afren, Premier Oil, Shell and BP were
Read moreLondon midday: Vodafone leads UK markets higher, but resource stocks weigh
11th Nov 2014 11:34
Strong gains from Vodafone and a string of property companies pushed UK shares into positive territory on Tuesday, though weakness in the resource sectors was limiting upside as the stock market fluctuated at a six-week high. The FTSE 100 was up just 0.1% at 6,618 by midday, having pulled back sligh
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 moreLondon midday: Stocks jump despite weak services data, M&S and Meggitt surge
5th Nov 2014 11:52
Strong gains from Marks & Spencer, Meggitt and Associated British Foods drove the UK stock market higher on Wednesday, as investors shrugged off some disappointing global economic data. Services purchasing managers' indices (PMIs) in China, the UK and Eurozone all weakened, showing that activity gro
Read moreLondon open: M&S, Meggitt lead UK stocks higher early on
5th Nov 2014 09:02
UK stocks rose on Wednesday as decent gains from Marks & Spencer, Meggitt, Tulllow Oil and AB Foods offset falls in the mining sector after yet more weak data from China. The FTSE 100 was trading 0.6% higher at 6,493 in morning trade. With the exception Japan's Nikkei index, Asian markets weaker ov
Read moreLondon pre-open: FTSE to move higher ahead of services PMI readings
5th Nov 2014 07:40
UK markets are set to open on a positive note on Wednesday, despite a generally weak performance from the US and Asia overnight. City sources predict the FTSE 100 will open around 42 points higher than Tuesday's close of 6,453.97. Asian markets, with the notable exception of the Nikkei in Tokyo, de
Read moreFTSE 100 movers: Associated British Foods climbs after cheering 'magnificent' year for Primark
4th Nov 2014 16:23
Full-year earnings and dividends from Associated British Foods were up 6% on the prior year despite revenues falling 3%. Shares were higher after the company reported a "magnificent" year for its Primark clothing chain, where operating profits jumped 30%. Cigarette maker Imperial Tobacco gained as i
Read moreSector movers: Oil stocks tank as crude prices drop to three-year low
4th Nov 2014 13:26
Sinking crude prices were pressuring oil producers and oil services stocks lower on Tuesday, with West Texas Intermediate (WTI) dropping to a three-year low. Oil dropped sharply after the world's largest exporter, Saudi Arabia, lowered prices for crude exports to US customers in an attempt to suppor
Read moreBroker tips: Legal & General, Shire, Anglo American...
4th Nov 2014 12:05
Broker Berenberg is advising investors to take cover in Legal & General after the insurer and pension provider doubled its annuity sales target for 2014 despite turbulence caused by a UK government pension shake-up. Berenberg has a 'buy' recommendation on L&G with a 265p price target. Analysts at Sw
Read moreLondon midday: Stocks erase gains after UK construction data, Eurozone growth forecasts
4th Nov 2014 11:25
A slowdown in UK construction expansion and downgrades to Eurozone growth forecasts hit UK stocks on Tuesday morning, with the FTSE 100 having erased early gains by lunchtime. Well-received results from Imperial Tobacco, Associated British Foods and Legal & General weren't enough to prop up the benc
Read moreOil companies need to rebuild investor confidence, says Barclays
4th Nov 2014 09:45
Oil exploration and production (E&P) companies need to rebuild confidence amongst investors, according to analysts at Barclays, who said depressed oil prices are not wholly to blame for the recent weakness in the oil sector. The bank pointed out that the European E&P sector has under-performed the w
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