Tuesday tips round up: BG Group, Telecity and Weir
6th Nov 2012 06:45
In The Times Tempus writes that the fall in the BG Group share price since last Wednesday's profits warning looks unjustified. The company was not saying that large chunks of its reserves were not actually in the ground, after all, simply that some would take longer than expected to reach production
Read moreLondon close: Stocks taken down by global uncertainty
5th Nov 2012 16:49
- All eyes turn to the US elections - Greece attempts to agree on austerity - UK and US services PMI disappoint After a sharp fall early on, the FTSE 100 traded broadly sideways for the remainder of Monday's session as investors refrained from building positions ahead of a busy week for the global
Read moreSector movers: Weir and Avintrans lift engineers higher
5th Nov 2012 15:34
Industrial engineering stocks were performing well on Monday with a well-received update from sector heavyweight Weir lifting sentiment. Weir reassured that it is on set to deliver double-digit profit growth this year despite weak order inputs and a slowdown in growth in the third quarter. While
Read moreFTSE 100 movers: Miners provide a drag
5th Nov 2012 15:15
Mining stocks were providing a drag as investors digested the economic figures out in China overnight. The HSBC China services PMI fell from a four-month high of 54.3 to 53.5 in October, contrasting with the official services PMI from the National Bureau of Statistics this weekend which rose from 53
Read moreLondon 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 more