Weir Group hit by oil price decline woes
25th Feb 2015 07:28
Shares in British engineering giant Weir Group plummeted to the bottom of the FTSE100 index, falling as much as 10.6% to 1666p, after warning that the sharp decline in the price of oil will have a "significant reduction" in constant currency group revenues this year. The weakening price of oil led t
Read moreWednesday preview: Eyes on Whitbread, Weir Group earnings and China manufacturing data
24th Feb 2015 18:32
Leisure and hospitality giant Whitbread is expected report its fourth quarter trading update on Wednesday. The update is likely to be welcomed by markets due to an improving UK consumer environment and strength in the hotel market. Analysts at UBS forecast fourth quarter revenue per available room g
Read moreFTSE 100 movers: Standard Life lifted by results, IAG down with a bump
20th Feb 2015 13:59
Insurance giant Standard Life surged after beating forecasts with a 19% increase in annual operating profit before tax from continuing operations to £604m, while the total dividend was lifted 7.8% to 17.03p per share. The recent acquisition of Ignis also helped it to increase assets under administra
Read moreFTSE 100 movers: GKN on top as target price lifted, travel stocks gain as oil prices fall
12th Jan 2015 12:46
Engineer GKN was given a boost by Credit Suisse which lifted its target price on the stock from 380p to 410p and reiterated an 'outperform' rating. The broker said: "Despite automotive accounting for around 59% of 2015 estimated group revenue, investor attention is often focused on the aerospace div
Read moreLondon midday: Resource stocks drag FTSE 100 into the red
5th Jan 2015 11:36
UK stocks were trading firmly in the red by Monday lunchtime despite a positive start, with shares in the oil and mining sectors providing a drag. London's FTSE 100 was down 0.9% at 6,489 by midday, dropping sharply after reaching a high of 6,576.74 early on. This week will be the first full tradin
Read moreLondon close: Stocks make modest gains in final session of 2014
31st Dec 2014 12:59
London shares finished the final session of 2014 on a positive note, but fell short of last year's closing mark amid lower oil prices and geopolitical turmoil. The FTSE 100 Index closed 19.09 points up at 6,566.09 in a shortened session due to New Year's Eve, down from the 6,749 it reached on the fi
Read moreLondon close: Falling oil prices drag down shares
30th Dec 2014 16:06
Oil stocks dragged London shares deep into the red on Tuesday after crude prices hit a five-and-a-half year low. The FTSE 100 Index closed 86.51 points adrift at 6,547 as the price of a barrel of Brent crude dropped below $57, although it later recovered slightly. The price of a barrel of US light
Read moreLondon close: Santa Rally continues as UK stocks rise for sixth straight day
23rd Dec 2014 16:51
UK stocks rose again on Tuesday as the Santa Rally continued into its sixth straight day, with markets boosted by some upbeat economic data from the States. Third-quarter US annualised gross domestic product (GDP) growth was revised to 5% from an initial estimate of 3.9%, representing the strongest
Read moreFTSE 100 movers: Centrica boosted by directorate change, oil and gas stocks strong
23rd Dec 2014 14:07
Centrica shares were boosted as the company appointed Carlos Pascual as a new non-executive director, who is said to have extensive geopolitical, economic and commercial development experience in the energy industry. "He brings a wealth of experience with his exceptionally strong international b
Read moreLondon midday: Stocks rise but gains pared after UK GDP data
23rd Dec 2014 11:56
UK stocks rose again on Tuesday as the pre-Christmas rally continued, though gains were trimmed by lunchtime after some disappointing data. On a day lacking of corporate news, investors were also showing caution ahead of a flurry of economic indicators Stateside. Stock futures on Wall Street were on
Read moreBroker tips: Weir Group, IAG, Greggs
15th Dec 2014 11:15
Even under the most bearish scenario, at current prices there is upside potential to engineering outfit Weir Group's share price, analysts at Deutsche Bank said in a note e-mailed to clients dated 12 December. The company has exposure to the drop in the oil price, given that it sells pressure pumps
Read moreDeutsche Bank initiates its coverage of Weir Group with a 'buy'
15th Dec 2014 09:33
Even under the most bearish scenario, at current prices there is upside potential to engineering outfit Weir Group's share price, analysts at Deutsche Bank said in a note e-mailed to clients dated 12 December. The company has exposure to the drop in the oil price, given that it sells pressure pumps
Read moreMonday broker round-up
15th Dec 2014 09:29
Ashtead Group: Berenberg raises target price from 1170p to 1345p and keeps its 'buy' recommendation. Aviva: Citi increases target price from 590p to 620p and maintains a 'buy' recommendation. Bellway: Deutsche Bank ups target price from 1760p to 1778p and reiterates its 'hold' recommendation. Berk
Read moreLondon close: FTSE sinks 2.5%, extends weekly decline to 6.6%
12th Dec 2014 16:38
UK stocks plummeted to levels not seen in nearly two months on Friday as weak global economic data and an ongoing sell-off of crude oil hammered market sentiment. The FTSE 100 settled at just 6,300.63 by the end of trade, down an eye-watering 2.5% on the day, with just four constituents on the index
Read moreFTSE 100 movers: Oil stocks track oil price lower
12th Dec 2014 15:15
Petrofac, Tullow Oil, BP, Shell and a host of stocks exposed to the oil price were suffering heavy losses on Friday. Oil and gas engineer Weir, however, was bouncing back after recent declines following an upgrade by Canaccord Genuity from 'hold' to 'buy'. The broker said the stock's valuation now l
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