Broker snap: UBS ups target for Weir
8th Feb 2013 09:54
UBS has hiked its target price for engineering giant Weir by 15 per cent from 2,000p to 2,300p and reiterated its 'buy' rating for the stock, causing shares to rise on Friday morning. The broker highlighted results from Weir's peer group, specifically Metso and Outotec, which surprised on both orde
Read moreLondon open: Stocks rise after Chinese trade data
8th Feb 2013 08:41
Positive data from China helped European stocks rebound on Friday morning, following a sell-off the day before on the back of comments from European Central Bank President (ECB) Mario Draghi. Both imports and exports in China jumped year-on-year in January, "suggesting that what we saw in the fourt
Read moreFriday broker round-up UPDATE
8th Feb 2013 07:19
Aggreko: HSBC upgrades to neutral with a target price of 1650p. Anglo American: HSBC ups target price from 1950p to 2240p and upgrades to overweight. Antofagasta: HSBC reduces target price from 1200p to 1160p, while upgrading to neutral. ARM Holdings: Credit Suisse increases target price from 780
Read moreTuesday broker round-up UPDATE
5th Feb 2013 07:14
Alternative Networks: Westhouse Securities downgrades from add to neutral with a target price of 280p. Anite: Northland Capital shifts target price from 153p to 167p leaving its buy recommendation unchanged. Barratt Developments: Liberum Capital raises target price from 165p to 259p and retains a
Read moreThursday broker round-up UPDATE
17th Jan 2013 07:19
African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an
Read moreLondon midday: Markets welcome fiscal cliff deal with two per cent surge
2nd Jan 2013 11:40
- US leaders pass budget deal to avert fiscal cliff - Mining and banking stocks celebrate with decent performance - UK manufacturing ends 2012 on a high Mining stocks were registering impressive gains on Wednesday in the aftermath of the US fiscal cliff agreement, which could have plunged the world
Read moreBabcock buys LGE Process from Weir
2nd Jan 2013 08:45
Babcock International Group, the FTSE 100 engineering support services company, has acquired LGE Process, which designs and builds plants for the processing, storage and handling of liquid gases, from index peer Weir Group. LGE, which has been acquired for £23m, will be integrated into Babcock's D
Read moreLondon open: Fiscal cliff deal ignites risk appetite
2nd Jan 2013 08:21
The FTSE 100 surged on Wednesday morning as investors celebrated the news that the fiscal cliff deal Stateside, with mining and banking stocks benefitting from the increase in risk appetite. "It may have come at the last minute, but US lawmakers finally managed to find some common ground by voting
Read moreFriday tips round-up: Weir Group, Igas Energy, Gulfsands
21st Dec 2012 07:04
Weir Group still looks like a good long-term bet on a growth industry, writes the Times´s tempus column this morning. The market earlier this year had its concerns over Weir's exposure to shale. Over the past 13 months the company invested a total of almost $1.1bn on equipment that serves the US sha
Read moreLondon close: Stocks finish flat on US budget uncertainty
20th Dec 2012 16:52
The FTSE 100 index finished broadly flat on Thursday afternoon, taking a pause of two days of decent gains, with the focus remaining on the US 'fiscal cliff' ahead of the Christmas holiday. Even a positive surprise in US gross domestic product (GDP) failed to give markets a boost. The American econ
Read moreFTSE 100 movers: Carnival drops after full-year revenue decline
20th Dec 2012 15:25
Carnival , the largest cruise company in the world, reported a fall in full-year revenues after what it called its most challenging year ever. Shares dropped nearly 6% on Thursday afternoon after the company reported that revenue came in at $15.4bn, down from $15.8bn previously. Leading the risers
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,
Read moreLondon midday: Stocks pause on 'fiscal cliff' concerns
20th Dec 2012 11:54
UK stocks traded broadly sideways on Thursday morning with 'fiscal cliff' uncertainty dashing hopes that a deal between US politicians can be struck before Christmas. Trade was cautious in London this morning with just 14 points separating the Footsie's intraday low and high. Stocks finished sligh
Read moreBroker snap: Mathena acquisition fits in nicely at Weir, says Investec
20th Dec 2012 09:26
Investec has raised its target price for engineering group Weir from 2,020p to 2,100p and reiterated its 'buy' rating for the stock, following Thursday's announcement that it is set to acquire pressure control provider Mathena. "This acquisition fits in nicely with Seaboard and diversifies Oil & G
Read moreLondon open: Stocks flat on 'fiscal cliff' uncertainty
20th Dec 2012 08:33
The FTSE 100 was trading little changed on Thursday morning, taking a pause after coming close to its 52-week high the day before, with US 'fiscal cliff' concerns acting as a drag on sentiment. "In scenes reminiscent of the debt ceiling debacle of 2011 US markets slid back last night as the impasse
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