Housebuilders suffer as brokers downgrade on valuations grounds
9th Jan 2015 08:56
Broker Jefferies was one of several to cut ratings on almost all the homebuilders, with Barratt Developments, Persimmon, Taylor Wimpey, Bovis Homes and others downgraded on the view that valuations were becoming too stretched. There has been a steady decline in mortgage approvals in recent months, w
Read moreFTSE 100 movers: Tesco surges on turnaround plans, M&S hit by weak sales
8th Jan 2015 14:12
Tesco's shares surged nearly 14% after it said it would cut costs substantially next year, close 43 unprofitable stores and lower prices, as chief executive Dave Lewis attempts to turn around the struggling supermarket chain. The news came as the company unveiled a "broad-based improvement" in UK tr
Read moreLondon midday: Stocks trim gains ahead of early finish on NYE
31st Dec 2014 11:25
UK stocks had pared gains by midday but were still trading marginally in positive territory heading into the close on a shortened New Year's Eve session. The FTSE 100 was up 0.05% at 6,551 by noon on the last trading day of the year, but looks set to finish December down 2.6% - its worst December in
Read moreLondon open: Stocks rise but FTSE 100 on track for annual decline
31st Dec 2014 08:54
London's stock market rose on Wednesday after a sell-off the previous session, but still looked set to finish 2014 in the red. The FTSE 100 was up 0.2% at 6,559 on the last trading day of the year, but has fallen around 2.8% since the start of January. For the month of December alone, the Footsie h
Read moreBroker tips: DS Smith, Taylor Wimpey, Acacia Mining
8th Dec 2014 12:01
UBS has lifted its target price for packaging group DS Smith from 340p to 355p and reiterated a 'buy' rating after the company's strong first-half results, saying it sees the potential for more deals in the future. "DS Smith delivered an impressive performance during H1 with robust volume growth bei
Read moreStamp-duty reform "credit positive" for housebuilder Taylor Wimpey, says Moody's
8th Dec 2014 11:20
Moody's Investors Service has said that last week's reform of the stamp-duty system in the Autumn Statement is "credit positive" for Taylor Wimpey and a number of other housebuilders. Chancellor George Osborne announced last Wednesday a major overhaul of the stamp duty land tax (SDLT), which means t
Read moreBarratt Developments and Taylor Wimpey set to join Footsie
4th Dec 2014 08:53
Overnight FTSE announced the results of its quarterly review of the constituents for its UK index series. IMI and Petrofac are to leave the top flight index, with Barratt Developments and Taylor Wimpey set to take their place. Meanwhile, and on the FTSE 250, Barratt Developments, Taylor Wimpey,
Read moreThursday broker round-up
4th Dec 2014 08:46
Aberdeen: Charles Stanley downgrades to 'hold'. Afren: Canaccord reduces target price from 115p to 65p, while staying with its 'speculative buy' recommendation. Amino Technologies: Northland moves target price from 120p to 130p and retains a 'buy' recommendation. Belgravium Technologies: WH Irelan
Read moreWednesday 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 moreFTSE 250 movers: Renishaw rises after seeing continued strong demand
11th Nov 2014 14:32
Renishaw rose strongly after it reiterated its full-year guidance, saying that it continues to see "strong demand" across its product lines. The British engineering firm expects to achieve revenue between £425m and £445m and adjusted pre-tax profit between £95m and £105m. The group said it is increa
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 moreTaylor Wimpey upgrades margin guidance, hails steady market
11th Nov 2014 08:05
Housebuilder Taylor Wimpey has said that market conditions moderated in the third quarter but still remain positive, as it upgraded its margin guidance for the full year ahead of analysts' expectations. The company said it now expects its full-year operating margin to grow by around 400 basis points
Read moreTuesday share tips: UK house builders, ABF
9th Sep 2014 07:00
Some of the froth has come off the housing market, but home prices have hardly crashed and the largest firms continue to offer attractions for investors. Indeed, shares in the seven largest builders have underperformed the FTSE All-Share during the last six months. However, interest rates, even if t
Read moreFTSE 250 movers: Redrow joins housebuilder slide despite strong results
2nd Sep 2014 14:36
Housebuilders were among the worst performing stocks on the FTSE 250 on Tuesday afternoon as rate-hike speculation continued to dominate sentiment. Data released earlier in the session showed that UK construction activity reached a seven-month high in August. Redrow was even in the red despite beat
Read moreFTSE 250 movers: Ex-divi stocks and Balfour lead index lower
20th Aug 2014 13:57
Berkeley Group, Fidessa Group and Taylor Wimpey all dropped into the red after going ex-dividend on Wednesday. Balfour Beatty was in negative territory after rejecting another merger offer from rival Carillion, saying such a move would not be in shareholders' best interest. Tuesday's offer was the
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