Weir Group to pay $675m for Texas firm Seaboard
23rd Nov 2011 07:07
Weir Group, the FTSE 100 engineering company servicing the oil, gas and power sectors, is to pay $675m for the US wellhead specialist Seaboard. The deal, which is subject to regulatory approval, is expected to complete in December. The transaction is payable in cash and will be funded from new and
Read moreBroker tips: Reckitt Benckiser, HSBC, Weir
8th Nov 2011 14:01
Popular perceptions of Reckitt Benckiser's growth model are mistaken and there are other factors which favour the stock going forward relative to its peers, according to Nomura. Whereas many see the household goods maker as excessively exposed to Western Europe and North America, along with too muc
Read moreBroker snap: Credit Suisse pumps Weir
8th Nov 2011 12:58
Despite falling 4.7% yesterday the oil and gas engineering firm Weir is getting a thumbs up from analysts at Credit Suisse, who continue to expect the stock to outperform the industrial engineering sector. Credit Suisse suggests the drop in price yesterday was a partly a reaction to the 40% increa
Read moreTuesday broker update: IAG, HSBC, Essar -UPDATE
8th Nov 2011 09:38
Tate&Lyle: J.P.Morgan downgrades to underweight from neutral. IAG: Credit Suisse cuts target too 152p from 164p. HSBC: Credit Suisse cuts target too 610p from 640p. Essar: Credit Suisse cuts target too 435p from 566p. Weir: Credit Suisse raises target to 2050p from 1850p. Astra Zeneca: Panmure
Read moreTuesday tips round up: Ryanair, Weir and Telecity
8th Nov 2011 06:46
The Telegraph's Questor column sings the praises of ultra budget airline Ryanair. The most important metric for the airline industry is yield management, the Telegraph explains, this is making sure planes are as full as possible so capacity does not go to waste. In its results yesterday Ryanair uppe
Read moreLondon Close - FTSE flat as investors eye Italy
7th Nov 2011 16:55
UK prices were broadly flat on Monday dropping just 0.3% following steady rises since early September. However, investors are keeping a wary eye on developments in Italy. The human comedy sketch known as Silvio "Il Cavalieri" Berlusconi, appears to be teetering on the edge of losing power. The pre
Read moreSector movers: Engineers fall over Weir
7th Nov 2011 15:52
A spot of old-fashioned Scottish realism seems to be dragging down the share price of Glasgow based engineering giant, Weir Wroup, and with it the industrial engineering sector. As was the case with its August trading update, the numbers looks all right but the company has been talking down its own
Read moreFTSE 100 Movers: Weir tumbles more than 5%
7th Nov 2011 13:01
Weir Group, the Glasgow based engineering giant, was heading lower after warning that "downstream market conditions remain challenging". However, the firm had positive news too, saying revenues in the third quarter grew more strongly than in the first half of the year and also on a like for like b
Read moreLondon midday: Stocks off the bottom
7th Nov 2011 12:20
UK prices are off the bottom, but investors are keeping a wary eye on developments in Italy, where reports suggest that Il Cavalieri, Silvio Berlusconi, could resign the post of Prime Minister within a matter of hours. CHOPPY WATERS AHEAD FOR WEIR Scottish engineering firm Weir, the company which
Read moreLondon open: Recession fears spook investors
7th Nov 2011 09:20
You will search in vain for positive features among FTSE 100 index constituents, as every stock that belongs to the top-share index is lower, after consultancy BDO LLP's UK output index, which tries to gauge output over the next three months, declined in October to the lowest level in more than two
Read moreWeir Group sees orders up but warns on downstream market
7th Nov 2011 07:08
Weir Group, the Glasgow based engineering giant, says revenues in the third quarter grew more strongly than the first half of the year and also on a like for like basis against the same period of 2010. Overall "order input" was up 27% in the quarter compared to the same period of 2010. This numbe
Read moreFTSE 100 Movers: Fresnillo dips as production falls
12th Oct 2011 12:59
Fresnillo was heading lower as an attempt to reinforce mine safety meant that the miner saw silver production fall by 5.8% in the three months to the end of September. As such, the firm lowered its 2011 silver production guidance from 44m ounces to 41m ounces. Fellow miner BHP Billiton was also lo
Read moreLondon close: Footsie finishes well below 5,000
4th Oct 2011 17:31
Though share prices recovered a tad after some reassuring noises from Federal Reserve chairman Ben Bernanke, London still finished the day deep on the red, with the Footsie well below the psychologically important 5,000 level. Federal Reserve president Ben Bernanke told the Joint Economic Committe
Read moreFTSE 100 Movers: Tesco bucks the trend
4th Oct 2011 15:34
Shares in Tesco bucked the downward trend on Tuesday after UBS upgraded the supermarket titan from neutral to buy and added the stock to its 'Key Calls' list, highlighting that "driving higher returns is now at the heart of group strategy." A broad sell-off in commodities markets is providing a dr
Read moreLondon midday: Banks plummet, retailers buck trend
4th Oct 2011 12:29
A decent performance from the retail sector was not enough to pull the market higher by lunchtime, as investors bailed out of banking, engineering and mining stocks on concerns over the global economy. Jean-Claude Juncker, chairman of the Eurogroup finance minister committee, has said that there wi
Read more