Monday broker round-up - UPDATE
30th Jan 2012 08:57
Rio Tinto: Goldman Sachs upgrades from neutral to buy. Whitbread: Credit Suisse downgrades from outperform to neutral, 1,818p target maintained. Weir: Credit Suisse ups target from 2,200p to 2,275p, outperform rating kept. ARM Holdings: Nomura raises target from 570p to 580p, neutral recommendati
Read moreLondon close: Banks fall after GDP data, markets await Fed
25th Jan 2012 16:14
- UK GDP figures disappoint. - Markets await FOMC statement and Bernanke. UK stocks finished firmly in the red after worse-than-expected UK gross domestic product (GDP) figures sent banks reeling early on. Meanwhile, markets in the US were mixed ahead of the Federal Open Market Committee (FOMC) sta
Read moreFTSE 100 movers: Ashmore rises on Barclays upgrade
25th Jan 2012 13:34
Investment manager Ashmore was the best performer, rising over 5%, bouncing back after a poor performance yesterday on the back of a downgrade from Royal Bank of Scotland. Today, however, the stock was given a boost after Barclays upgraded it to overweight from neutral. ARM Holdings, the chip desi
Read moreLondon midday: Banks fall as GDP figures disappoint
25th Jan 2012 11:55
- UK GDP contracts in the fourth quarter. - BoE unanimous in decision to maintain rates. - Mortgage approvals rise. In spite of a strong start, London's FTSE 100 experienced a sharp decline in morning trade following some disappointing gross domestic product figures which came in worse than expecte
Read moreLondon open: Stocks up ahead of economic data
25th Jan 2012 08:39
London's Footsie opened slightly higher on Wednesday morning with the mood boosted by last night's strong showing from US tech giant Apple. In UK news, a raft of economic data is due out this morning, including the minutes from the January meeting of the Bank of England's Monetary Policy Committee
Read moreWeir snaps up Novatech for $176m
25th Jan 2012 07:15
Industrial engineer Weir has agreed to acquire US oil and gas pump valve maker Novatech for $176m (£113m) in cash. Novatech manufactures a variety or proprietary valves and valve seats for high pressure applications such as farce, cement and mud pumps used in unconventional upstream oil and gas ope
Read moreFTSE 100 movers: Banks dip lower
24th Jan 2012 13:04
Banks are leading the way lower as investors feel the waves of worry over the ongoing Greek talks and the impact of the downgrades on three French banks. Lloyds became the biggest faller after losing more than 5%, closely followed by RBS and Barclays. Shares in the latter have taken a hit from a n
Read moreTuesday broker round-up - UPDATE
24th Jan 2012 09:09
Ashmore: Royal Bank of Scotland downgrades to hold from buy. Hargreaves Lansdown: Royal Bank of Scotland downgrades to sell from hold. Weir: Goldman Sachs reiterates buy. Vedanta Resources: HSBC cuts target price to 1,320p from 2,110p; Credit Suisse keeps neutral stance and 1,400p target. Pear
Read moreLondon close: Footsie rises as markets await news from Greece
23rd Jan 2012 16:32
- Markets await news from Greece. - Essar Energy jumps over 10%. - EU approves sanctions against Iran. UK stocks finished the day with impressive gains as investors awaited developments from Greece. Meanwhile, finance ministers of the Eurozone were meeting in Brussels to discuss terms of the Greek
Read moreSector movers: Prudential lifts life insurers
23rd Jan 2012 15:55
Life insurers were on the rise on Monday with sector giant Prudential making decent gains on the back of M&A chatter in the global industry. Last week's rumours that AIA is considering a takeover of ING's Asian divisions for $6bn "reinforces the attraction of the region", according to analysts at R
Read moreFTSE 100 movers: Essar surges after increasing resource estimates
23rd Jan 2012 15:10
The share price of India-focused integrated energy company Essar Energy increased by over a tenth on Monday afternoon after the firm increased its best estimate contingent resources at the Raniganj coal bed methane exploration block. Total proven and probable reserves at the block came in at 113bn
Read moreLondon midday: Stocks extend gains, RBS and IAG on the rise
23rd Jan 2012 11:46
- Markets await news from Greece. - Lagarde warns of "1930s moment"; - RBS rises on rumours of CEO waiving bonus. London's benchmark index had extended gains by midday with the market showing their optimism as investors awaited news from Greece. US stock futures were also pointing to a positive sta
Read moreMonday broker round-up - UPDATE
23rd Jan 2012 09:26
BAE Systems: Barclays Capital upgrades to overweight from neutral. Weir: JP Morgan downgrades to neutral from overweight. Royal Dutch: ING initiates coverage at buy. IMI: UBS downgrades from buy to neutral, target cut from 950p to 900p. Renishaw: UBS upgrades from neutral to buy, target hiked
Read moreWeir off on broker downgrade and depressed natural gas prices
23rd Jan 2012 09:22
Industrial engineering group Weir is today again one of the worst performers in the FTSE 350, in an apparent reaction to a negative research note out from JP Morgan Cazenove. JP Morgan analysts have today lowered their view on Weir to neutral, citing uncertainty about the near-term development i
Read moreLondon open: Footsie rises with Greece in focus
23rd Jan 2012 08:36
UK stocks rose on Monday with hopes that Greece can reach a deal with its bondholders boosting sentiment early on. The Institute of International Finance (IIF) seems to have hardened its stance in its negotiations with Greece. Charles Dallara, theManaging Director of the IIF, the body which is neg
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