London midday: Banks and miners fall as risk is scaled back
16th Jan 2013 11:38
Banking and mining stocks were firmly out of favour on Wednesday morning as risk appetite was scaled back due to concerns over the outlook for global economic growth. The World Bank has cut its global growth forecast for 2013 due to the difficult recovery that economies worldwide are currently unde
Read moreBroker tips: UK banks, Vodafone, Anglo American
16th Jan 2013 11:05
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. "In the context of the risk rally we see the UK domestic banks as well positioned relative to Italian and Spanish banks, but we would prefer to own
Read moreBroker snap: Deutsche Bank downgrades Vodafone to 'hold'
16th Jan 2013 10:12
Deutsche Bank has lowered its recommendation for Vodafone from 'buy' to 'hold', citing concerns about 'deteriorating growth and cash returns' for the telecoms firm. The broker said that there's "little to cheer" about at Vodafone: "We forecast growth deterioration through calendar 2013 with the out
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreSunday newspaper round-up: Marks&Spencer, Sterling, Vodafone
13th Jan 2013 18:41
Last week showed that the M&S riddle - whether the 81,000 person strong outfit will survive - remains unsolved. Over the crucial Christmas trading period sales of general merchandise were down 3.8 per cent ? much worse than the 1.5 per cent fall the market had expected. The nasty numbers were made w
Read moreIndia reportedly preparing to consider tax settlement talks with Vodafone
11th Jan 2013 13:03
A multi-billion dollar tax dispute between the Indian administration and mobile phone operator Vodafone may be edging towards a settlement, according to a media report citing sources within the Indian government. News agency Bloomberg reported that an Indian Finance Ministry official with direct kn
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
Read moreLondon close: Slight losses seen on FTSE
8th Jan 2013 16:32
UK stocks ended Tuesday's session with small losses, influenced in part by some weaker-than-expected economic indicators from the Eurozone, marking the second day of losses this year. Eurozone unemployment hit a new record high of 11.8% in November, according to official figures. This was a slight
Read moreFTSE 100 movers: Anglo American rises on announcement of new CEO
8th Jan 2013 14:53
Investors have welcomed Anglo American's appointment of Australian Mark Cutifani as its new Chief Executive. The mining giant pinched Cutifani from AngloGold Ashanti to replace Cynthia Carroll. Cutifani will take the reins in April with a pay packet worth around 2.38m pounds, including salary and bo
Read moreSector movers: Investors connect to Vodafone
8th Jan 2013 14:43
Vodafone pushed the mobile telecoms sector up to the top of the leader board today after Verizon Communications said it was ready, willing and able to buy Vodafone out of their wireless joint venture. In an interview with The Wall Street Journal on Monday, Verizon's Chief Executive Lowell McAdam s
Read moreLondon midday: Corporate activity picks up, but technical resistance looms
8th Jan 2013 11:51
UK stocks are now registering slight gains - and recovering most of yesterday's scant losses - as investors opt to overlook the release of some weaker than expected economic indicators from the Eurozone. That ahead of the beginning of the formal earnings season, Stateside, later today, when alumin
Read moreVerizon wants to buy out Vodafone in wireless venture
8th Jan 2013 08:32
Verizon Communications Chief Executive Lowell McAdam has said the company is well positioned to buy out Vodafone Group in their wireless joint venture. In an interview with The Wall Street Journal Monday, McAdam said the company's plans to become the sole owner of Verizon Wireless were 'feasible'.
Read moreLondon open: Markets flat ahead of Eurozone data
8th Jan 2013 08:24
UK stocks opened flat on Tuesday morning ahead of some key economic indicators from the Eurozone. On today's agenda, there will be unemployment figures in Italy, German factory orders as well as consumer confidence, jobless and retail sales data for the Eurozone as a whole. Market analyst Craig E
Read moreLondon close: Markets shrug off decent showing by banks
7th Jan 2013 16:35
- Traders take profits after recent surge - European banks on Basel III developments - Investors looking ahead to central bank decisions After registering impressive gains last week, stocks across Europe pulled back on Monday with investor taking profits as fourth-quarter earnings season gets into
Read moreBroker tips: Vodafone, Serco, Weir
20th Dec 2012 12:09
Nomura has kept its 'neutral' rating for telecoms group Vodafone, saying that the higher-than-expected costs from last week's Dutch spectrum auction raise more questions of the company's 'inflated' dividend. "Paying an inflated ordinary dividend has been discredited as a way to reward shareholders,
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