Broker snap: 15% upgrades expected at Weir
14th Jun 2010 12:30
Engineering group Weir was the best performing FTSE 250 stock on Monday morning after trading in the nine weeks to 4 June exceeded expectation. Broker KBC Peel Hunt has reiterated its "buy" recommendation on the stock, saying: "Aftermarket demand remains strong and continues while original equipmen
Read moreSector movers: Engineers motor ahead
14th Jun 2010 12:29
Engineers are going well, with Weir leading the way. The company, which supplies products and services to the mining, oil & gas and power generation sectors, said trading for the nine weeks to 4 June has been stronger than expected, with order output for the 22-week period up 25%. It also confirmed
Read moreFTSE 250 movers: Confident Weir moves ahead
14th Jun 2010 12:28
Weir has motored ahead after the engineer said trading for the nine weeks to 4 June has been stronger than expected, with order output for the 22-week period up 25%. It also confirmed it will acquire Kuala Lumpur based Linatex for £138m as it expands its global reach. Linatex, which provides wear-r
Read moreLondon midday: BP slows Footsie's climb
14th Jun 2010 12:07
Barely a dozen of the FTSE 100's constituents finished the morning in the red but the blue-chip index's advance was less than convincing, largely due BP being on the end of another battering. The oil disaster in the Gulf of Mexico has now cost BP £1.1bn ($1.6bn) and the pressure on the oil giant is
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
14th Jun 2010 10:49
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0949 GMT [Dow Jones] Weir Group's (WEIR.LN) acquisition of Malaysia-based Linatex fits well within the group, says Arden P
Read moreMARKET TALK: Weir Acquisition Good Fit, Earnings Accretive
14th Jun 2010 10:49
0949 GMT [Dow Jones] Weir Group's (WEIR.LN) acquisition of Malaysia-based Linatex fits well within the group, says Arden Partners. Arden notes the company's trading update, which it reckons is very positive. "Not only are they seeing better spares business at SPM where management now expect sales to
Read moreMARKET TALK: Weir Acquisition Complementary - Altium
14th Jun 2010 07:56
0656 GMT [Dow Jones] Weir Group's (WEIR.LN) acquistion of Malaysia-based Linatex "is clearly a complementary acquisition for the group but would appear to be earnings-dilutive in the current year," says Altium Securities. It notes the company's surprise update shows trading has been stronger than ex
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
14th Jun 2010 07:56
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0656 GMT [Dow Jones] Weir Group's (WEIR.LN) acquistion of Malaysia-based Linatex "is clearly a complementary acquisition for
Read moreMARKET TALK: Weir Acquisition 'Just What We Want To See'
14th Jun 2010 07:51
0651 GMT [Dow Jones] Weir Group's (WEIR.LN) acquisition of the Linatex group of companies looks good, and is "just what we want to see," says a trader. Also notes the company's update, saying it continues to be optimistic on its outlook. Another trader notes Weir's aftermarket orders exceed expectat
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
14th Jun 2010 07:51
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0651 GMT [Dow Jones] Weir Group's (WEIR.LN) acquisition of the Linatex group of companies looks good, and is "just what we wa
Read moreCORRECT: Weir Group Buys Malaysia-Based Linatex For $200M
14th Jun 2010 07:45
("Weir Group Buys Malaysia-Based Linatex For $200M >WEIR.LN," published at 0619 GMT, the final two paragraphs were merged, with some words missing. The correct version follows:) LONDON (Dow Jones)--Weir Group PLC (WEIR.LN), a British engineering company, said Monday it has agreed to acquire th
Read moreWeir to buy Linatex, orders surge 25%
14th Jun 2010 07:38
Engineering group Weir confirmed it will acquire Kuala Lumpur based Linatex for £138m as it expands its global reach. Linatex, which provides wear-resistant products to the mining and sand industries, fits into its strategy of growing its global capability, Weir said. Around £119m will be payable
Read moreWeir Group Sees 1H Pre-Items Profit Around GBP140M >WEIR.LN
14th Jun 2010 07:24
LONDON (Dow Jones)--Weir Group PLC (WEIR.LN) said Monday it expects profit before intangibles amortization and tax for the 26 weeks ending July 2 to be around GBP140 million after positive foreign exchange translation, and stronger than expected trading continued to exceed expectations. MAIN FAC
Read moreWeir Group Plc Acquisition
14th Jun 2010 07:00
TIDMWEIR RNS Number : 5220N Weir Group PLC 14 June 2010 ? The Weir Group PLC 14 June 2010 Acquisition of Malaysia-based Linatex for US$200m (GBP138m)1 The Weir Group PLC ("Weir") has agreed to acquire the Linatex group of companies ("Linatex"), a global provider of wear-resistant products to t
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
9th Jun 2010 07:44
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0644 GMT [Dow Jones] Goldman Sachs adjusts ratings on UK capital goods stocks in its latest sector review, upgrading Weir Gro
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