London close: Stocks slip as stimulus hopes fade
30th Aug 2012 16:50
- Speculation ramps up ahead of Jackson Hole meeting - Decent US data dampens hopes for extra stimulus - Volatility could increase in coming weeks, says UniCredit The FTSE 100 index experienced its third consecutive day in the red on Thursday as economic stimulus-related optimism began to fade ahea
Read moreLondon midday: Miners unwanted ahead of Jackson Hole meeting
30th Aug 2012 12:00
- Jackson Hole speculation ramps up - Global economic data disappoints - Evraz, Kazakhmys and the miners provide a drag in London UK stocks were continuing to trade in the red by Thursday lunchtime as equity markets the world over showed their nerves ahead of some eagerly-awaited central bank meet
Read moreBroker tips: Kazakhmys, Antofagasta, Admiral...
30th Aug 2012 11:18
Jefferies now prefers Antofagasta over copper peer Kazakhmys and has downgraded its rating for the latter from 'buy' to 'hold'. "Our preference this year for shares of Kazakhmys over shares of Antofagasta has been based entirely on relative valuations (Kaz is much cheaper). However, after reviewing
Read moreBroker snap: Investec turns cautious about WPP after Q2 disappointment
30th Aug 2012 10:07
Investec has placed its 'buy' recommendation and target price for Sir Martin Sorrell's media giant WPP under review after the group scaled back its full-year guidance as second-quarter results came in below expectations. First-half sales totalled £4,972m, up 5% year-on-year but below Investec's for
Read moreThursday broker round-up
30th Aug 2012 09:35
Admiral: Nomura keeps buy rating and 1,300p target. Antofagasta: Jefferies raises target from 1,050p to 1,200p, hold rating kept. APR Energy: Investec upgrades from hold to buy, target cut from 1,100p to 950p. Cape: Investec maintains buy recommendation and 300p target. Consort Medical: N+1 Brew
Read moreLondon open: Markets look to central banks for a boost
30th Aug 2012 08:28
- All eyes on Jackson Hole - Draghi expected to announce something 'big' next week - Miners lower as Footsie experiences third day in the red Miners were once again weighing on the benchmark index in London this morning, as risk appetite continues to be scaled back ahead of some pivotal central ban
Read moreWPP trims full-year revenue forecast
30th Aug 2012 07:58
Global advertising conglomerate WPP saw like-for-like (LFL) revenue growth slow in July and is set to achieve a full-year LFL increase some way short of the figure for which it had budgeted. The group is forecasting LFL revenue growth for 2012 of 3.5%, versus a budgeted improvement of 4.0%. In the
Read moreLondon pre-open: FTSE to extend Wednesday's losses
30th Aug 2012 07:24
City sources predict the FTSE 100 will open down 20 points from yesterday's close of 5,744, extending Wednesday's losses of 32 points and tracking declines seen in Asia over night. Sentiment has been dampened by worries over the global economic outlook, with nerves building ahead of today's Jackso
Read moreWPP's revenue growth slows in July
30th Aug 2012 07:18
Highly acquisitive advertising giant WPP is to move its headquarters back to the UK having moved to the Republic of Ireland in 2008 to escape Britain's taxes on overseas profits earned by multi-nationals. The decision was announced with the group's interim results which saw like-for-like (LFL) reve
Read moreFriday broker round-up
24th Aug 2012 09:34
African Minerals: Jefferies cuts target from 800p to 550p, buy rating kept. Anglo American: Jefferies downgrades from buy to hold, 2,200p target kept. Ashmore: Citigroup downgrades to sell, target cut from 305p to 300p. Berendsen: Investec maintains buy rating and 570p target; Seymour Pierce down
Read moreWPP buys Canadian consultancy
17th Aug 2012 15:38
WPP, the highly acquisitive media and advertising giant led by frontman Sir Martin Sorrell, has said that its wholly-owned public relations and public affairs firm is acquiring the majority of the assets of Ascentum, a Canadian company. Ascentum is full-service consultancy that works with governme
Read moreLondon pre-open: Quiet start expected for the Footsie
13th Aug 2012 07:20
London's benchmark index is expected to open a little lower on Monday morning in the absence of any new developments over the weekend. City sources are predicting that the FTSE 100 will open around eight points lower from Friday's close of 5,847. "A quiet start to the trading week is expected toda
Read moreWPP to take control of Turkish agency
13th Aug 2012 07:03
WPP, the media and advertising giant led by frontman Sir Martin Sorrell, wants to buy up the remaining stake in Turkish agency Manajans Thompson Reklam Isleri. The acquisition, subject to regulatory approval, will see WPP increase its current minority interest - held since 1985 - to 100% following
Read moreWPP looks to the future with Fortune Cookie
2nd Aug 2012 07:21
WPP, the highly acquisitive media and advertising giant led by frontman Sir Martin Sorrell, has announced that Possible Worldwide, its interactive marketing agency, has acquired a majority stake in Fortune Cookie, a full service digital marketing services agency. Fortune, which specialises in prov
Read moreLondon pre-open: Small bounce-back expected following sell-off
24th Jul 2012 07:30
City sources reckon that the FTSE 100 will open up by around 24 points today, as equity markets attempt to rebound following Monday's mass sell-off across the globe. The Footsie finished at 5,534 yesterday, its lowest closing level in nearly a month, after surging bond yields in Spain (on the back
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