London pre-open: FTSE 100 holding on to yesterday's gains
20th Jan 2012 07:23
City sources predict the FTSE 100 will open up 4 points from yesterday's close of 5,741, holding on to yesterday's last minute gains which came after investors got a boost on news of better-than-expected economic data from the US, talks of progress between the Greek government and private creditors,
Read moreWPP buys stake in Finnish communications agency
20th Jan 2012 07:00
WPP, the media titan headed by Sir Martin Sorrell, has already made its fourth acquisition of 2012 with the purchase of a majority equity stake in Finnish communications agency Viestintätoimisto Pohjoisranta Oy (Pohjoisranta) The Helsinki-based firm has been an exclusive affiliate partner in Finlan
Read moreWPP subsidiary acquires stake in Aussie marketing firm
18th Jan 2012 10:43
Acquisitive advertising conglomerate WPP announces that its wholly owned operating company, Ogilvy, a global marketing communications group, has acquired a 33.33% stake in the capital of DTDigital, a digital marketing firm in Australia. DTDigital's unaudited gross revenues as at December 31st 201
Read moreLondon midday: Banks rise, retailers drop, BoE maintains rate
12th Jan 2012 11:58
After a subdued start, the Footsie seems to have found its direction, trading up near the 5,700 level, helped by the latest Italian and Spanish debt auctions which saw solid demand and a fall in yields. Italy has sold a total of €12bn in bills, with yields on its 12-month debt falling to 2.74% from
Read moreBroker tips: Tesco, BSkyB, WPP
12th Jan 2012 11:26
Despite cutting forecasts for Tesco after a disappointing Christmas, Nomura has maintained its buy rating on the supermarket giant. "Tesco traded through Christmas with a lower level of promotions, and against an increased level of competitor promotions and coupons, thus losing traction across the
Read moreBroker snap: UBS upgrades WPP on global outlook
12th Jan 2012 11:19
Advertising giant WPP was performing well on Thursday, helped by an upgrade from UBS from neutral to buy. The broker also hiked its target price from 675p to 840p, suggesting a significant upside to the current price of 716.5p (at yesterday's close). "We believe WPP offers favourable risk-reward,"
Read moreThursday broker round-up - UPDATE
12th Jan 2012 09:08
Reckitt Benckiser: J.P. Morgan Cazenove downgrades to neutral from overweight. Tesco: Nomura reiterates buy rating and 500p target; Panmure Gordon cuts target from 500p to 440p, buy rating unchanged. Royal Bank of Scotland: Shore Capital reiterates sell. Tesco: Shore Capital downgrades to hold fr
Read moreLondon pre-open: Stocks to open higher on Eurozone comments
10th Jan 2012 07:25
City sources predict the FTSE 100 will open up 48 points from yesterday's close of 5,612, following on from US markets which finished up last night, boosted by reassuring but largely familiar comments from the leaders of Germany and France about their plans to tackle the Eurozone crisis. Retailer
Read moreWPP takes majority stake in Pakistani research firm
10th Jan 2012 07:01
The New Year is already 10 days old so it is about time advertising giant WPP announced an acquisition, and it has duly obliged, with the purchase of a majority stake in Oasis Insights, an independent market research business in Japan. More to follow ... jh
Read moreFTSE 100 movers: Aggreko extends gains, pharmas fall
20th Dec 2011 15:29
Temporary power supplier Aggreko was leading the gains on the FTSE 100 on Tuesday, as investors continue to celebrate yesterday's news that full-year profits should come in slightly ahead of previous guidance. Media stocks were also on the rise with advertising giant WPP among the best performers i
Read moreSector movers: Astra, Glaxo drag down pharmas
20th Dec 2011 12:52
The pharmaceuticals were on the decline today, dragged lower by sector giant AstraZeneca. AstraZeneca warned this morning that earnings will come in at the lower end of expectations after it took a $381.5m hit from failed drug tests. The company has stopped development of its ovarian cancer treat
Read moreLondon open: Footsie dragged down by pharmas and oils
20th Dec 2011 08:52
Though the Eurozone debt crisis rumbles on in the background, UK investors look to be already in holiday mood, with the market drifting lower at the outset in light trading. The European Union (EU) member states announced late last night their plan to increase the International Monetary Fund's (IM
Read moreLondon pre-open: Stocks still lacking direction
20th Dec 2011 07:16
After yesterday's aimless trading session, London's blue-chips are seeking direction again today, with City traders tipping the FTSE 100 will open down 14 points from yesterday's close of 5,365. Pharmaceuticals giant AstraZeneca said full year core earnings per share (EPS) are set to be in the low
Read moreWPP buys stake in Chinese ad firm
20th Dec 2011 07:05
Advertising titan WPP, led by Sir Martin Sorrell, has acquired a 49% stake in Chinese peer Nanjing Yindu Advertising and Commerco Co for an undisclosed sum. The acquisition was made through WPP's advertising and marketing business Ogilvy & Mather and expands this unit's reach into the "crucial" reg
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