Broker snap: Mixed views on WPP
24th Aug 2009 12:54
Advertising group WPP was the top performing blue-chip on Monday despite expectations that Wednesday's interim results will see a decline in like-for-like sales of around eight or nine per cent in the second quarter. The share price was boosted by Deutsche Bank issuing a 'buy' recommendation. The b
Read moreLondon midday: Footsie backs off from 4900
24th Aug 2009 12:06
London's blue-chips are off the top but still predominantly in the blue. Strong miners and financials helped push the FTSE 100 index above 4900 shortly before 11:00am but this just encouraged profit-takers to make their move. Advertising firm WPP was the morning's best performer ahead of results o
Read moreSector movers: Software stocks in demand
20th Aug 2009 14:32
Technology firm Autonomy is lifting the software and computer services sector higher after it said Autonomy Scrittura, its flagship product for automating critical trade-related processes, is now powered by Autonomy's Intelligent Data Operating Layer (IDOL). The company claimed the integration would
Read moreBroker tips: Rio Tinto, WPP, TT Electronics
20th Aug 2009 13:01
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year, particularly in the area of debt reduction. The overall tone of the
Read moreBroker snap: Fears of WPP equity issue overdone
20th Aug 2009 12:57
Nomura Securities has reiterated its 'buy' recommendation on WPP ahead of the advertising giant's interim results next week. The Japanese brokerage notes that WPP shares have just about outperformed the Dow Jones STOXX 600 index of European companies recently but has lagged advertising peers such a
Read moreLondon close: Heavy losses for Footsie
2nd Jul 2009 16:37
Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures. WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% org
Read moreLondon close: Footsie ends down
12th Jun 2009 16:34
London's top stocks have finished slightly lower despite a late flurry as a lacklustre start on Wall Street kept stocks down. Indian refiner and miner Vedanta led the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has decl
Read moreLondon afternoon: Stocks still in the red
12th Jun 2009 15:08
London's top stocks are still in the red, with a lower start on Wall Street adding to the earlier pressures. Indian refiner and miner Vedanta leads the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has declined to take p
Read moreBroker tips: BT, WPP, Arm Holdings
12th Jun 2009 13:26
The share price of telecoms giant BT has taken a battering this year but Merrill Lynch believes the shares are now low enough to be worth buying. The US broker reckons that the problems at the Global Services arm and the worries over the company's pension deficit are factored into the share price.
Read moreBroker snap: WPP trading at discount to peers
12th Jun 2009 13:23
The 6.7% drop in like-for-like sales in the first four months of 2009 announced by advertising and marketing giant WPP last week has not deterred Goldman Sachs from adding the stock its conviction buy list. Goldman Sachs (GS) said that although WPP's sales figures were bad, they could be close to b
Read moreWednesday newspaper round-up: BP, Barclays, WPP
3rd Jun 2009 06:13
BP is preparing to shut its $18bn (£11bn) UK final salary pension scheme to new members, in the latest blow to generous retirement provision for Britain's workforce. BP was one of the few FTSE 100 blue-chip companies to maintain a final salary scheme for new recruits, the Times reports. Hugh Osmon
Read moreLondon close: Late rally not enough
2nd Jun 2009 16:46
A rally in the afternoon session was not enough to lift the Footsie out of negative territory, though second-liners were moderately firmer on balance. Bank Barclays was the day’s worst performing blue-chip after news of the sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC,
Read moreSector movers: WPP weighs on media sector
2nd Jun 2009 14:04
Advertising giant WPP is helping drag the media sector lower after another downbeat update. It said like-for-like sales in the first four month of the year dropped 6.7% after trading worsened in April. Not all media stocks are lower though. Marketing communications company Mission Marketing is high
Read moreWPP posts 6.7% drop in lfl sales
2nd Jun 2009 12:46
Advertising giant WPP said like-for-like sales in the first four month of the year dropped 6.7% after trading worsened in April. On a reportable basis, worldwide revenues were up 33.7%. In constant currencies, revenues rose 10.3%, principally reflecting the weakness of the pound sterling against th
Read moreTuesday newspaper round-up: Barclays, WPP, British Airways
2nd Jun 2009 06:14
One of Barclays' largest Middle Eastern shareholders announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its £3.5bn investment, reports the FT. International Petroleum Investment Corp, an investment vehicle of the Ab
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