London midday: Investors flee from risk ahead of US elections
5th Nov 2012 11:26
- Investors risk averse ahead of elections - UK services PMI disappoints - Greece to vote on austerity Nervousness ahead of the US presidential elections saw stocks head lower on Monday morning, with losses cemented by a worse-than-expected reading of service-sector activity in the UK. In regards
Read moreBroker tips: Weir, William Hill, Millennium & Copthorne
5th Nov 2012 10:57
Investec has put upgraded its forecasts for engineering group Weir after the firm's well-received third-quarter update on Monday. Investec has raised its 2012 adjusted PBT estimate by around 2% from £437m to £445, implying an earnings per share of around 151p. As such, target 1,850p target price is
Read moreBroker snap: Investec raises forecasts for Weir
5th Nov 2012 09:35
Investec has upgraded its forecasts for engineering group Weir after the firm's well-received third-quarter update on Monday. Weir said that it is on track to deliver full-year adjusted profit before tax (PBT) in the range of £440-450m. Group order input in the third quarter was down 8% (-15% on a
Read moreLondon open: HSBC and miners provide a drag early on
5th Nov 2012 08:39
UK stocks declined sharply on Monday morning on the back of a mixed reaction to economic data from China and caution ahead of the presidential elections in the US and a parliamentary vote in Greece. The HSBC China services sector purchasing managers' index (PMI) fell from a four-month high of 54.3
Read moreLondon pre-open: Investors await outcome of US election
5th Nov 2012 07:26
City sources predict the FTSE 100 will open down 29 points from yesterday's close of 5,869, as investors await the outcome of the US presidential election, the results of which are due this week. Furthermore, there is some nervousness ahead of key votes in Greece this week on further austerity measu
Read moreWeir on track despite weak third quarter
5th Nov 2012 07:04
Engineering giant Weir Group said that it is set to deliver double-digit profit growth this year despite weak order inputs and a slowdown in growth in the third quarter. Weir, which designs and manufactures products and engineering services for the minerals, oil and gas, and power and industrial ma
Read moreLondon close: Footsie struggles to hold on to gains after jobs data
2nd Nov 2012 16:42
- US jobs provide temporary boost, but gains trimmed - Data unlikely to change Fed's stance, says analyst - Financials Admiral and RBS disappoint While the closely-watched US jobs report provided a bit of a bounce in early afternoon trade, the Footsie had pared gains to finish flat by the close as
Read moreLondon midday: Markets cautious ahead of US non-farm payrolls
2nd Nov 2012 11:30
- All eyes on US jobs data - Outcome could be a major factor in presidential elections - Admiral, Meggitt and RBS disappoint The FTSE 100 was little changed by Friday lunchtime, having trade within a narrow range for most of the morning session, with investors nervous ahead the pivotal employment
Read moreBroker tips: Admiral, Weir, Burberry
2nd Nov 2012 11:12
Investec has retained a 'sell' recommendation and 570p target price for car insurance firm Admiral after the group revealed that revenue growth had slowed in the third quarter. "We believe that, while the forecast 7% yield will support the stock, paying 12x earnings for what is essentially a UK mot
Read moreBroker snap: Jefferies downgrades Weir to 'hold'
2nd Nov 2012 09:23
Jefferies has downgraded its rating for engineering giant Weir from 'buy' to 'hold' ahead of its third-quarter results next week, saying that its short-term stance is one of 'rising caution' over risks to 2012 and 2013 consensus forecasts. "We have not turned hugely bearish on Weir (more that we ar
Read moreLondon open: Stocks fall ahead of key US jobs data
2nd Nov 2012 08:48
The FTSE 100 opened slightly lower on Friday morning following a strong rise the day before, as investors showed caution ahead of some pivotal economic data due out across the Pond later today. Financial trader Shavaz Dhalla from Spreadex said that investors are nervous about taking on too much ris
Read moreFriday broker round-up
2nd Nov 2012 08:18
Associated British Foods: Panmure Gordon keeps hold rating and 1,300p target. Balfour Beatty: Goldman Sachs downgrades to neutral, target cut from 330p to 322p. BG Group: Deutsche Bank downgrades to hold, target cut from 1,700p to 1,350p; Liberum Capital downgrades to hold. British Sky Broadcasti
Read moreWednesday broker round-up - UDPATE
31st Oct 2012 09:09
AMEC: Seymour Pierce keeps buy rating and 1,250p target; Investec keeps buy rating and 1,300p target. Babcock: Panmure Gordon keeps hold rating and 940p target. Barclays: Nomura keeps reduce rating and 210p target. BP: Jefferies keeps hold rating and 450p target. Chariot Oil & Gas: Seymour Pierc
Read moreLondon close: Stocks bounce after US GDP
26th Oct 2012 16:47
- US growth data boosts stock in afternoon trade - Anglo jumps after CEO exit - Pearson rises on Penguin merger speculation The FTSE 100 bounced into positive territory by the close on Friday afternoon, albeit only just, after better-than-expected growth figures from the world's largest economy che
Read moreFTSE 100 movers: Anglo American soars as search for new CEO begins
26th Oct 2012 15:26
Leading the risers was diversified mining titan Anglo American after announcing that it is on the look out for another CEO after Cynthis Carroll revealed her decision to resign. "It is a very difficult decision to leave, but next year I will be entering my seventh year as Chief Executive and I fee
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