Broker tips: ITV, Wood Group, Paper and packaging stocks
10th Oct 2014 13:02
UBS has upped its target price for broadcaster ITV from 210p to 230p and repeated its 'buy' recommendation, highlighting catalysts for the stock in the near term. Retransmission fees, M&A and a "compelling valuation" were cited as reasons behind the UBS' positive investment case on ITV. Specifically
Read moreWood Group shares hit by Numis downgrade
10th Oct 2014 11:18
In spite of a well-received trading update the previous session, Wood Group's stock pulled back sharply on Friday after Numis Securities downgraded its rating on the oilfield services and engineering group from 'add' to 'hold' due to oil-price headwinds. With the price of Brent crude nearing the $89
Read moreFriday broker round-up UPDATE
10th Oct 2014 09:42
British American Tobacco: Goldman Sachs reduces target price from 3530p to 3250p downgrading to sell. Brown (N) Group: UBS cuts target price from 490p to 445p leaving its buy recommendation unchanged. Diageo: Goldman Sachs reduces target price from 2030p to 1925p and keeps a neutral rating. Dixons
Read moreBroker tips: HSBC, Vodafone, Wood Group, Centamin, Miners
9th Oct 2014 13:03
Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending. "We are mightily encouraged by evidence of returning risk appetite. We upgrade to 'add' from 'hold' and our target price to 650p from 620p," the broker said. Vodafone's recent share-price outperformance mean
Read moreLiberum Capital says 'sell' Wood Group on uncertainty
9th Oct 2014 11:05
Liberum Capital is advising investors to 'sell' Wood Group amid concerns about falling oil prices and demand next year. Wood on Thursday forecast an annual performance in line with hopes and ahead of 2013 thanks to growth in its PSN production services arm and US shale gas. Liberum said it wanted i
Read moreWood Group lifted by US shale gas
9th Oct 2014 07:18
Oil services supplier Wood Group forecast an annual performance in line with hopes and ahead of 2013 thanks to growth in its PSN production services arm and US shale gas. The company, which provides engineering, procurement and construction management, facility operations and maintenance, and turbin
Read moreLondon close: Ebola and economic woes hit stocks
7th Oct 2014 16:22
London shares were on their sickbed on Tuesday as investors fretted about the Ebola virus and disappointing economic data, although takeover activity buoyed miners. The FTSE 100 Index closed 68.07 points adrift at 6495.58 as a fresh case of Ebola in Spain hit shares in airlines and travel compani
Read moreTuesday broker round-up UPDATE
7th Oct 2014 09:45
African Minerals: Canaccord Genuity lowers target price from 20p to 15p with a hold recommendation. Aggreko: Exane initiates with a target price of 1500p and an underperform rating. Amec: Liberum Capital cuts target price from 1035p to 908p staying with its sell recommendation. Antofagasta: Canacc
Read moreLondon midday: UK stocks near two-week high as Scots vote against independence
19th Sep 2014 11:18
UK stocks advanced on Friday, poised to finish at their highest levels in two weeks, after the Scottish people voted in favour of the Union in a crucial independence referendum. Some 55.3% of Scots voted 'no' to independence from the UK while 44.7% voted 'yes', erasing concerns about a break-up whic
Read moreLondon open: UK stocks rise as Scots vote 'no' to independence
19th Sep 2014 08:22
UK stocks staged a relief rally on Friday morning in the aftermath of the Scottish referendum, which saw people north of the border vote convincingly to remain part of the Union. Some 55.3% of Scots voted 'no' to independence from the UK while 44.7% voted 'yes', erasing concerns about a break-up whi
Read moreWood Group agrees contract in western Australia
9th Sep 2014 07:51
Wood Group's PSN division (WGPSN) has landed a contract with Woodside in Western Australia, boosting its maintenance and brownfield project portfolio. Under the agreement, the group will provide the engineering, procurement and construction management (EPCM) services on Woodside's Karratha gas plant
Read moreSector movers: Scottish referendum uncertainty hits electricity stocks, insurers
8th Sep 2014 13:32
Sectors with the most exposure to Scotland were bearing the brunt of the selling pressure on Monday after an opinion poll revealed that the 'yes' campaign on independence had taken the lead. The electricity sector was the hardest hit with Perth-based energy supplier SSE down 2.7%, life insurers were
Read moreFTSE 250 movers: Wood Group rises on better-than-expected earnings
19th Aug 2014 16:24
First-half earnings at energy services provider John Wood Group were flat but slightly better than the market was expecting, pushing shares higher on Tuesday. Revenues were up 10% at $3.8bn as the company benefitted from strong activity in the US shale sector. Amlin fell after Deutsche Bank cut its
Read moreWood Group reaps benefits of US shale boom in first half
19th Aug 2014 09:21
First-half earnings at energy services provider John Wood Group were flat but slightly better than the market was expecting as the company benefitted from strong activity in the US shale sector. Revenues were up 10% at $3.8bn and total earnings before interest, tax and amortisation (EBITA) was in l
Read moreWood Group signs deal to buy Norwegian engineering firm
14th Jul 2014 13:54
An agreement has been signed between energy services provider Wood Group and Agility Group for the sale of its subsidiary, Agility Projects. Wood Group will pay around $164m for business, which is focused on activities on the Norwegian Continental Shelf (NCS) and employs 650 personnel across Norway
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