Broker snap: Organic growth a problem at WPP, says Jefferies
21st Jun 2012 10:27
Jefferies has maintained an 'underperform' rating for advertising and media giant WPP following Wednesday's acquisition of AKQA, saying that questions still remain over the extent of the company's digital organic growth. Sir Martin Sorrell's firm announced that it has agreed to buy the assets of AK
Read moreThursday broker round-up
21st Jun 2012 09:13
ARM Holdings: Investec maintains buy rating and 800p target. Ashtead: Jefferies ups target from 300p to 320p, buy rating retained. Bellway: Goldman Sachs downgrades to neutral. British Land: Societe Generale downgrades to sell. CRH: HSBC upgrades to overweight. Dignity: Goldman Sachs downgrades
Read moreWPP snaps up digital agency AKQA
20th Jun 2012 15:02
Sir Martin Sorrell's WPP has made yet another acquisition: the media giant has agreed to buy the assets of AKQA Holdings, 'the world's leading independent and most awarded digital agency'. AKQA, which employs some 1,160 people around the world, provides digital communications campaigns spanning soc
Read moreLondon close: Stocks higher despite soaring Spanish yields
18th Jun 2012 16:42
-Stocks swing between gains and losses on euro crisis -New Democracy wins majority in Greek elections -Spanish yields set euro-era high...again The Footsie ended the day only slightly higher as soaring bond yields in Spain and uncertainty over the situation in Greece weighed on sentiment. There wa
Read moreFTSE 100 movers: Evraz leads the risers
18th Jun 2012 15:02
Steel giant Evraz was a high riser of the day after Alexander David Securities reiterated its 'buy' recommendation for the stock, while precious metals miner Polymetal was being boosted by an 'overweight' rating from Morgan Stanley. Luxury firm Burberry was lifted into the top spot, with the only
Read moreLondon midday: Stocks edge higher despite euro uncertainty
18th Jun 2012 11:49
- Markets digest Greek elections - Spanish bond yields above seven per cent - Barroso expects coalition to be formed 'swiftly' An underwhelming outcome to the Greek elections and surging bond yields in Spain saw the Footsie swing between gains and losses on Monday morning; by lunchtime, the blue ch
Read moreWPP takes stake in Slovakian agency
18th Jun 2012 10:16
Acquisitive advertising conglomerate WPP has acquired a stake in Istropolitana Group, a full service advertising agency group in the Slovak Republic. Founded in 1992 and head-quartered in Bratislava, Istropolitana is a full service advertising agency comprising a number of separate businesses. The
Read moreLondon midday: Markets calm as Italian yields rise
14th Jun 2012 11:50
Markets have reacted positively in the main to the outcome of the Italian bond auction on Thursday morning, which saw yields rise fairly steeply. Italy issued a total of €4.5bn of debt in three, seven, and eight-year bonds. It matched its issuance target but had to pay higher yields than on the pr
Read moreWPP back on acquisition trail after being rudely interrupted
14th Jun 2012 11:36
Acquisitive media conglomerate WPP is to launch a bid for global communications services group Press Index after buying a majority stake in the firm. WPP has acquired 87% of the share capital of Press Index from its founders and other sellers, triggering a requirement to make an offer to buy out th
Read moreLondon close: Shareholder spring moves into summer at WPP
13th Jun 2012 17:08
It was an up and down day for the Footsie although the top-share index rarely strayed far from the previous day's closing value. The so-called "shareholder spring" of protest votes against bumper pay packages for executives continued with perhaps the biggest slap in the face so far, as 60% of votes
Read moreFTSE 100 movers: Sainsbury disappoints with trading update
13th Jun 2012 15:19
Supermarket group Sainsbury's keenly awaited trading update proved a bit anti-climactic with like-for-like (LFL) sales growth below expectations. LFL sales in the 12 weeks to June 9th were up 1.4% on the corresponding period of last year, below market expectations of growth of between 1.6% and 2.0%.
Read moreMajority of WPP shareholders reject CEO pay
13th Jun 2012 14:54
WPP shareholders have rejected Chief Executive Sir Martin Sorrell's pay at the media conglomerate's annual general meeting (AGM) on Wednesday, with three-fifths of voters protesting against the remuneration report. The director has become the latest in a string of bosses to suffer a significant pr
Read moreLondon midday: Bids add spice to bland market
13th Jun 2012 12:12
With Spanish government bond yields rising to all-time highs in the Eurozone era, Footsie is back to square one after a confident start. There are no major UK economic indicators today to provide direction and not a lot of corporate news flow either, adding to the general air of ennui. Supermarke
Read moreLondon open: London rises on Wall Street tailwinds
13th Jun 2012 08:40
Taking their lead from US and Asian markets, London's leading stocks have opened on the front foot. Wall Street rebounded strongly yesterday on hopes that the US Federal reserve might do a bit more to stimulate the US economy. Federal Reserve Bank of Chicago President Charles Evans, speaking in an
Read moreLondon pre-open: Shares to track US and Asia bourses higher
13th Jun 2012 07:31
City sources predict the FTSE 100 will open up 16 points from yesterday's close of 5,474, tracking US and Asian stocks higher as stocks recover from the news that Spanish bond yields reached their highest level since the creation of the euro currency. The keenly awaited trading update for superma
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