Thursday broker round-up
12th Jul 2012 08:41
African Minerals: Credit Suisse cuts target from 800p to 740p, outperform rating kept. Anglo American: Credit Suisse cuts target from 2,900p to 2,500p, neutral rating unchanged. Antofagasta: Credit Suisse cuts target from 1,300p to 1,150p, neutral rating kept. Aquarius Platinum: Credit Suisse cut
Read moreThursday tips round-up: Manchester United, Taylor Wimpey, Tullow Oil
5th Jul 2012 07:01
In the Financial Times, the Lex column takes a quick look at the proposed listing of Manchester United in New York. The initial public offering is currently targeting 100m dollars but Lex thinks this is a 'nominal' amount, with the actual amount likely to be higher. The finances of football are in
Read moreLondon close: Stocks flat, attention turns to Barclays late on
4th Jul 2012 16:48
- Former Barclays CEO quizzed by MPs over LIBOR fixing - Market subdued as Wall Street closed - Tomorrow's policy decisions eyed After a brief foray into positive territory, gains for the Footsie were pared in the final hour of trade with the focus shifting to Barclays as its former boss was being
Read moreFTSE 100 movers: Glencore and Xstrata rise despite rumours
4th Jul 2012 13:59
Potential merger partners Glencore and Xstrata were high risers despite reports the Xstrata shareholder Knight Vinke said it was against the deal on its original terms. Tobacco giants Imperial Tobacco and British American Tobacco were also in demand after Moody's Investors Service said that Europe
Read moreLondon midday: Footsie edges lower on weak PMI data
4th Jul 2012 11:34
- PMI data from China and Europe disappoints - US markets closed for July 4th - Investors await policy decisions tomorrow The Footsie was trading within a narrow range of just 17 points on Wednesday as volumes were seen to be light given that Wall Street is closed for Independence Day. Disappointin
Read moreLondon open: Markets cautious ahead of policy decisions
4th Jul 2012 08:38
- Ex-div stocks provide a drag in London - Chinese economic data dampens the mood - US markets closed for national holiday UK stocks slipped in early trading on Wednesday with volumes expected to be light as US markets remain closed for Independence Day; investors are likely to be cautious ahead of
Read moreLondon pre-open: Small declines forecast for FTSE
4th Jul 2012 07:34
City sources predict the FTSE 100 will open down 12 points from yesterday's close of 5,688, with little guidance from the US following a half day of trading. Echoing statements made by sector peer Persimmon on Tuesday, house builder Taylor Wimpey said the first half of 2012 was a stable one for th
Read moreRecord first-half revenues for Tullow
4th Jul 2012 07:04
Tullow Oil expects revenues in the first half of 2012 to set a new record and said that it remains well-placed for continued success for the rest of the year. Revenue in the six months to June 30th is estimated to be $1.15bn, up from $1.06bn the year before. Group working interest production in th
Read moreBroker tips: Carnival, Polymetal, Tower Resources...
25th Jun 2012 11:26
Investec has labelled cruise operator Carnival as a 'key sector pick', saying that the recent dip in the share price should be used as a buying opportunity; the target price is lifted from 2,500p to 3,000p. "We advise utilising Friday's drop to invest in our sector key pick, with the group having:
Read moreBroker snap: Jefferies downgrades Tower and Cove
25th Jun 2012 11:23
Jefferies has downgraded its ratings for both Tower Resources and Cove Energy as part of its review of the oil and gas exploration and production sector. "We continue to favour E&Ps with high quality exploration with near-term exploration catalysts. We believe oil prices should stabilise as Saudi A
Read moreLondon midday: Banks shrug off downgrades, but resources stocks drag
22nd Jun 2012 11:48
- Banks rise in spite of Moody's downgrade - Spanish banks need up to 62bn euros, says private audit - German business confidence falls to two-year low Banks were making gains by midday as they shrugged off a sector-wide downgrade my Moody's, but the Footsie still remained in the red with oil and m
Read moreLondon open: Mass bank downgrade in the spotlight
22nd Jun 2012 08:32
- Moody's downgrades 15 global banks - Spain needs up to 62bn euros in bank aid - Oils and miners drops early on London's blue chips dropped sharply on Friday morning with the mass bank downgrade by Moody's weighing on sentiment across Europe. Credit ratings agency Moody's has downgraded 15 major
Read moreLondon close: Losses pared, but Sky falls in
14th Jun 2012 16:42
A late rally on the back of Wall Street strength saw Footsie erase most of the day's losses. Eurozone worries were on the market's mind for much of the day after credit ratings agency Moody's slashed Spain's sovereign debt rating by three notches to a level barely above junk status. Italy's bond
Read moreLondon midday: Markets calm as Italian yields rise
14th Jun 2012 11:50
Markets have reacted positively in the main to the outcome of the Italian bond auction on Thursday morning, which saw yields rise fairly steeply. Italy issued a total of €4.5bn of debt in three, seven, and eight-year bonds. It matched its issuance target but had to pay higher yields than on the pr
Read moreLondon open: Sweet FA deal batters Sky and BT
14th Jun 2012 08:45
You would have thought that the market had become used to sovereign debt downgrades by now, but the decision by Moody's to take Spain's rating down three notches to a level adjacent to 'junk' status has ratcheted up tension ahead of Italy's debt auction this morning. Italy is set to auction €4.75bn
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