London close: FTSE 100 drops over 1% as oil and mining stocks drop
8th Dec 2014 16:29
Weakness in the oil and gas sectors and poor economic data from across the globe prompted a weak start to the week for the UK stock market, as equities pulled back from a two-week high. With crude prices tumbling to their lowest in over five years, oil producers and stocks in the oil services sector
Read moreLondon close: Upmarket housebuilders hit as investors digest Autumn Statement
3rd Dec 2014 16:29
Upmarket housing stocks took a hit but airlines were flying higher as investors reacted to the UK's Autumn Statement on Wednesday. Shares in Berkeley Group Holdings were 76p off at 2468p and estate agency Foxtons subsided 2.6p to 152.8p as Chancellor George Osborne introduced a new stamp duty regime
Read moreInvestec cuts forecasts for Weir as lower commodity prices bite
3rd Dec 2014 10:35
Investec has slashed its target for the share price of industrial engineering group Weir by 17%, saying that almost every important data point for the company is "trending negatively". The broker reiterated its 'sell' recommendation to clients, as it cut its target price for the stock from 1,900p to
Read moreLondon close: Shares drop amid falling oil prices and economic woe
1st Dec 2014 17:11
Falling oil prices and downbeat manufacturing data in continental Europe sent London shares into reverse on Monday. The price of a barrel of Brent crude leaked more than 10% and US light crude was off 11% just after the close in London as Middle East and US oil chiefs continued their stand-off over
Read moreLondon close: Rising travel and retail stocks offset losses from energy sector
28th Nov 2014 16:26
A slight recovery in oil prices wasn't enough to ease the pressure on the energy sector on Friday, though stocks in London erased losses by the end of trade as shares in the travel and retail sectors jumped. "Clearly firms with a focus on consumer spending will be indirect beneficiaries of increase
Read moreLondon midday: Crude stabilises but oil stocks continue to slide
28th Nov 2014 11:43
The UK stock market dropped on Friday as shares in the energy sector dropped after the recent slump in crude on concerns about a global oversupply of oil. Oil producers and energy services stocks were extending losses made the previous session with crude prices set to register their steepest weekly
Read moreLondon open: FTSE 100 falls as energy stocks extend losses after OPEC meeting
28th Nov 2014 08:41
Despite already having plunged the previous session, stocks in the energy sector were under further selling pressure on Friday in the aftermath of the OPEC meeting, pushing the FTSE 100 firmly into the red. The Organization of Petroleum Exporting Countries decided on Thursday not to scale back their
Read moreLondon close: Hopes of Chinese and European economic stimulus lift stocks
21st Nov 2014 16:17
A surprise cut in Chinese interest rates and hints about quantitative easing in Europe put London traders in a bullish mood on Friday. The People's Bank of China cheered markets by reducing its one-year benchmark lending rate by 40 basis points to 5.6% to lift an economy on course for its slowest an
Read moreSector movers: Industrial engineers Weir, IMI and Fenner continue to slide
17th Nov 2014 16:30
The industrial engineering sector extended Friday's decline with Weir Group, IMI and Fenner all registering heavy losses. Weir Group dropped after Exane BNP Paribas downgraded the stock to "underperform" from "outperform" and cit its target price to from 2,400p to 1,835p. Fenner lost more than 7% a
Read moreSector movers: Rotork and Castings drag engineers lower, IMI subdued
14th Nov 2014 14:06
Industrial engineering stocks were out of favour on Friday after Rotork and Castings disappointed with results and the market gave a muted reaction to a trading update from sector peer IMI. Rotork, the actuator manufacturing and flow-control company, saw shares drop 3.8% at 2,404p in afternoon trade
Read moreWednesday broker round-up UPDATE
5th Nov 2014 10:02
Associated British Foods: Exane raises target price from 3600p to 3700p, keeping its outperform rating. Citi reduces target price from 3200p to 3100p, while upgrading to buy. AVEVA: Liberum Capital reduces target price from 1500p to 1400p and keeps a hold recommendation. Investec reduces target pric
Read moreLondon close: Markets spring leak as oil prices tumble
4th Nov 2014 16:13
The falling price of crude oil and precious metals left markets struggling to get a grip on Tuesday. The price of a barrel of US light crude fell nearly 3% to about $76.5 a barrel and Brent crude dipped below the $83 mark, dragging the FTSE 100 Index down 34 points at 6453.97. World gold prices are
Read moreTuesday broker round-up UPDATE
4th Nov 2014 09:32
Aberdeen Asset Management: Credit Suisse ups target price from 440p to 455p and keeps a neutral rating. Anglo Eastern: FinnCap initiates with a target price of 880p and a buy recommendation. Ashmore: Credit Suisse downgrades to underperform. Barclays: Citi moves target price from 300p to 315p stay
Read moreMore after-sales orders boost Weir Group
4th Nov 2014 07:56
New order growth accelerated to 14% at oil services supplier Weir Group in an extended third quarter period as a strong trend in after-sales oil and gas orders counter-balanced a worse performance in power and industrial. With order input at its minerals division largely flat as falling commodity pr
Read moreThursday tips round-up: Weir Group, Imperial Innovations
16th Oct 2014 21:20
Having failed in its bid to purchase Finnish group Metso Weir Group purchased Trio, a far smaller outfit, marking its first bolt-on acquisition since the start of last year. Trio specialises in comminution, the process by which large rocks are crushed so as to allow miners to get more easily to the
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