London close: Stocks rebound after upbeat US housing data
27th Feb 2013 17:08
Continuing upbeat data from the US housing sector boosted the FTSE 100 in afternoon trade on Wednesday, as stocks tracked Wall Street indices higher. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake of the Italian elections which revealed growing suppo
Read moreFTSE 100 movers: Petrofac down on underwhelming results
27th Feb 2013 15:42
Oilfield services group Petrofac was a big faller after underwhelming with a nine per cent rise in revenue and 17 per cent increase in net profit in 2012. The firm´s plans to invest around $1bn in capital outlays over the next five years displeased some analysts. Eurasian Natural Resources Corpora
Read moreLondon midday: Sentiment still fragile after inconclusive Italian elections
27th Feb 2013 11:28
Markets across Europe were staging a slight rebound on Wednesday but sentiment was still fragile as political instability in Italy spread fears that the Eurozone crisis could drag on for some time yet. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake o
Read moreBroker tips: HSBC, Weir, ITV
27th Feb 2013 10:23
Investec has upgraded its recommendation for global banking giant HSBC from 'hold' to 'add' and lifted its price target from 685p to 735p after the stock's recent underperformance. "After 46 disposals/closures in two years with a wide array of balance sheet/income statement effects, net net, we see
Read moreBroker snap: Nomura stays 'neutral' on Weir after in-line results
27th Feb 2013 10:22
Nomura has kept its 'neutral' rating and 1,950p target price for engineering solutions giant Weir after a broadly in-line set of 2012 results. Sales (up 11% at £2.54bn) missed consensus expectations by 2.3%, but margins of 19.1% beat the 18.6% forecast, leading to an in-line operating profit, the b
Read moreLondon open: Markets claw back after sell-off
27th Feb 2013 08:40
Stock markets rebounded slightly on Wednesday morning following a sell-off the day before after the disappointing outcome to the national elections in Italy. Equities across Europe were sold off yesterday in the wake of the Italian elections which revealed growing support for anti-austerity parties
Read moreWednesday broker round-up UPDATE
27th Feb 2013 08:11
: Panmure Gordon reduces target price from 2159p to 1742p and reiterates its hold recommendation. Antofagasta: JP Morgan cuts target price from 1485p to 1400p, while retaining its overweight rating. Barclays: Numis raises target price from 351p to 400p and upgrades to buy. BT Group: UBS moves tar
Read moreWeir reports record profits and margins for 2012
27th Feb 2013 07:27
Engineering solutions group Weir managed to register record profits and margins last year and said that it expects another year of profitable growth in 2013. The company, which works in the mining, oil & gas and power markets, reported a profit before tax of £443m for the 52 weeks to December 28th,
Read moreSunday share tips: Weir Group, Paragon, William Hill
24th Feb 2013 15:18
Spare a moment for the 'short-sellers', those dastardly investors who make hay when a company's shares tank. They are having a bad run at Weir Group. The 4.7bn pound supplier of kit to miners and oil drillers is the most "shorted" stock in the FTSE 100. About 15 per cent of its shares are out on loa
Read moreThursday broker round-up UPDATE
21st Feb 2013 08:02
Aberdeen Asset Management: Citigroup takes target price from 400p to 430p and stays with its neutral rating. Admiral Group: JP Morgan starts with a target price of 1246p and a neutral rating. Anglo American: Jefferies increases target price from 2050p to 2450p and upgrades from hold to buy. Aviva
Read moreLondon midday: Footsie breaches 6,400 on stimulus hopes
20th Feb 2013 11:41
The FTSE 100 hit a fresh five-year high in morning trade on Wednesday morning on the back of hopes for further stimulus from the Bank of England, as minutes of the latest rate-setting meeting showed that more policy-makers voted for further asset purchases. London's benchmark index hit an intraday
Read moreLondon open: Markets pause after strong gains
20th Feb 2013 08:43
The FTSE 100 opened flat on Wednesday morning following a one per cent surge the day before, as investors awaited announcements from central banks and a number of key economic indicators from around the globe. "After having the strongest day of the year so far, European stock markets are in consoli
Read moreLondon pre-open: Small drop expected on FTSE ahead of jobs data
20th Feb 2013 07:30
City sources predict the FTSE 100 will open down four points from yesterday's close of 6,379, ahead of the release of today's UK jobs data and despite decent gains seen in the US overnight. The S&P 500 rose to a new five-year high on Tuesday, as confidence strengthened on hopes of further mergers
Read moreWeir expands presence in mining industries
20th Feb 2013 07:06
Industrial engineering group Weir said on Wednesday that it has strengthened its presence in the fast-growing mining markets with three acquisitions worth a combined 55m pounds. Weir said it has acquired the R Wales group of companies, a Canada-based manufacturer of wear resistant linings for the m
Read moreFriday broker round-up UPDATE
15th Feb 2013 07:58
Aberdeen Asset Management: UBS shifts target price from 440p to 470p and reiterates a buy recommendation. Credit Suisse takes target price from 410p to 470p staying with its outperform rating. Barclays revises target price from 470p to 490p, while its overweight rating remains unchanged. Jefferies m
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