Weir's valuation "high enough" after cautious update, says Numis
11th Jun 2015 09:19
Shares in Weir Group were extending losses on Thursday morning as analysts reacted to a cautious trading update from the engineering outfit the previous day, with recent weakness in the US oil and gas market worse than expected. Broker Beaufort Securities lowered its recommendation on the stock to '
Read moreFTSE 100 movers: Supermarkets and miners surge, Weir Group lower on profit warning
10th Jun 2015 13:25
Tesco surged on reports it has invited at least six firms including KKR and Carlyle Group to bid for its South Korean unit Homeplus, which is valued at about $6bn. According to people familiar with the matter cited by Reuters, London-based CVC Capital Partners, Hong Kong-based Affinity Equity Partne
Read moreWeir Group anticipates results will be weighted towards the second half
10th Jun 2015 09:22
Engineering company Weir Group expects its annual revenue, margins and profit to be weighted more towards the second half than in previous years. The FTSE 250 warned that the second six months of 2015 were proving to be very challenging for its oil and gas division, as the US rig count continues to
Read moreWeir Group earnings upgraded by Credit Suisse on impending bottom for US rig count
29th May 2015 13:12
Shares in engineer Weir Group bubbled higher after a bullish note from Credit Suisse heralded "light at the end of the tunnel", with its target price ratcheted to 2,205p from 1,915p and an 'outperform' rating reiterated. The Swiss bank hoisted its estimates for 2016 and 2017 earnings per share by 9%
Read moreFTSE 100 movers: Weir and Associated British Foods surge on upgrades
29th May 2015 12:44
UK stocks shook off early morning caution by the afternoon, making modest gains in spite of Greek debt and panic selling on Chinese markets. As of 14:00 BST, the FTSE 100 was trading 0.04% higher at 7,044. Weir topped the risers as Credit Suisse raised its price target on the stock to 2,205p, citin
Read moreLondon close: Market recoups previous session's losses
27th May 2015 15:47
UK stocks closed higher on Wednesday, rebounding from heavy losses in the previous session, buoyed by strength in the construction, electricity and tobacco sectors. The FTSE 100 experienced few surprises and gained steadily throughout the day, closing 1.24% higher at 7,034.9. The index had plunged 1
Read moreFTSE 100 movers: CRH surges on Holcim offer, Weir Group hit by downgrade
27th May 2015 12:33
UK stocks rebounded from the previous session's sell-off as gains made by tobacco, construction, electronics and utilities stocks outweighed weakness in mining and industrial metals. As of 13:45, the FTSE 100 was trading points 47.1 points higher at 6,996. Shares in building materials group CRH sur
Read moreLondon midday: Imperial and CRH lead the rebound before Queen's Speech
27th May 2015 11:39
Investors managed to take advantage of a quiet morning to push UK stocks higher on Wednesday following a sell-off the previous day. The FTSE 100 was up 0.57% at 6,988.37 by midday, with blue chips Imperial Tobacco and CRH leading the rise, along with a host of other construction and building materia
Read moreBroker tips: IAG, Weir, De La Rue, Taylor Wimpey, Insurers
27th May 2015 11:33
Credit Suisse has maintained its 'outperform' rating for airline conglomerate IAG after its proposed €1.4bn acquisition of Irish carrier Aer Lingus received the green light from the Irish government. The bank said that it continues to see the acquisition as "strategically positive" for IAG, whose st
Read moreLondon open: Stocks edge higher ahead of Queen's Speech, Imperial rises
27th May 2015 09:20
UK stocks rebounded slightly on Wednesday morning after a sharp sell-off the previous session, with investors awaiting the Queen's Speech on a quiet day in terms of economic and corporate news. The FTSE 100 was up 0.32% at 6,971.03 early on after dropping 1.18% on Tuesday to 6,948.99. Consumer conf
Read moreWednesday broker round-up
27th May 2015 07:57
Beazley: JP Morgan upgrades to overweight from neutral and sets 308p target, up from 255p. Hiscox: JP Morgan upgrades to overweight from neutral and ups target to 950p from 801p. Lancashire Holdings: JP Morgan improves target price to 642p from 589p, stays at neutral. Dixons Carphone: Exane keeps
Read moreDeutsche Bank downgrades Weir to 'hold'
27th May 2015 07:56
Deutsche Bank has downgraded industrial engineer Weir Group to 'hold' from 'buy'. "Six months ago we said that a bottoming in the US rig count should drive Weir shares higher; with that bottom now seemingly imminent, the question is: what's next?" said DB. Deutsche said that while the rig count the
Read moreWeir tops FTSE 100, buoyed by encouraging rig count numbers
26th May 2015 15:21
Engineering company Weir Group was up 3.7% at 2,008p on Tuesday, topping the FTSE 100 leader board , with Jefferies pointing to data from US peer Baker Hughes out last Friday, which showed that the number of US oil rigs fell at the slowest pace in 24 weeks last week. "We note a further sequential mo
Read moreWestern oil companies treading carefully on Iran, experts say
18th May 2015 17:09
Western oil and gas companies are treading carefully on Iran as the wider market takes in the possibility of international sanctions on Tehran being lifted at some point, according to senior industry executives. Speaking at the Baker & McKenzie Global Oil & Gas Institute in Houston, USA on Monday, B
Read moreFTSE 100 movers: Fresnillo surges on strong output guidance, financials lower
18th May 2015 12:34
UK stocks erased early gains as Greek concerns and a lack of economic data stoked investor uncertainty. Sector-wise, financials delivered the biggest drag, while energy stocks and miners provided a welcome boost. As of 13:30, the FTSE 100 was trading flat, just 1 point higher at 6,961 points. Fresn
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