Whitbread earnings steam higher but CEO Harrison announces retirement
28th Apr 2015 08:00
Costa Cofee and Premier Inn owner Whitbread served up impressive results for the year to 26 February but announced that chief executive Andy Harrison will retire by the end of the current financial year. Revenue rose 13.7% to £2.61bn and underlying profits before tax by 18.5% to £488.1m, leading to
Read moreTuesday preview: Osborne may come under scrutiny as UK GDP expected to slow
27th Apr 2015 14:59
Chancellor George Osborne is expected to come under pre-election scrutiny on Tuesday when official figures reveal UK economic growth has slowed. Economists predict the Office for National Statistics report will reveal gross domestic product (GDP) rose 2.6% year-on-year in the first quarter, easing b
Read moreFTSE 100 movers: Rolls Royce among handful of risers as 95 stocks trade in the red
17th Apr 2015 13:32
Rolls Royce was one of a handful of stocks remaining in the green, buoyed by the announcement of its largest ever order win, which cemented its position as the favoured supplier of power plants for Airbus's signature A380 aircraft. The news marks the aircraft engine manufacturer's gain of over half
Read moreBroker tips: Pearson, Diageo, Whitbread
17th Apr 2015 12:31
Pearson's stock rebounded slightly on Friday after a heavy drop the previous session, though Westhouse Securities still recommended investors to 'sell' shares of the publishing group. Westhouse said it sees "scope for further share-price weakness". Thursday's news that Los Angeles' second-largest sc
Read moreCredit Suisse hails German potential at Whitbread, hikes target price
17th Apr 2015 11:44
Credit Suisse has hiked its target price for Costa and Premier Inn owner Whitbread from 5,300p to 6,200p and kept an 'outperform' rating, saying the leisure group provides "long-term sustainable quality growth". The bank said that the roll-out plans of the company's two largest chains underpin forec
Read moreThursday broker round-up
26th Mar 2015 17:39
Reckitt Benckiser: JP Morgan ups target price to 2,750p from 2,400p, reiterates underweight. Premier Farnell: UBS hikes target to 190p from 165p, reiterates neutral. Serco Group: Credit Suisse lowers target to 171p from 208p, reiterates neutral. Land Securities: Morgan Stanley ups target to 1,470p
Read moreBroker tips: Easyjet, Antofagasta, Whitbread
26th Mar 2015 12:27
Shares in Easyjet and a number of other travel stocks took a hammering on Thursday from the spike in oil prices, though the budget airline did manage to impress analysts with its latest trading update. Credit Suisse maintained an 'outperform' rating and 2,050p target price for Easyjet after first-ha
Read moreLondon midday: Footsie drops 1.4% as retreat from record high continues
26th Mar 2015 12:15
London's Footsie was registering steep losses on Thursday as the index continued to retreat from the record highs reached earlier in the week, as financial and airline stocks fell sharply. Airline stocks in particular were feeling the brunt of a spike in the price of oil after Saudi Arabia launched
Read moreTake profits at Costa owner Whitbread, recommends Panmure Gordon
26th Mar 2015 10:25
Costa coffee and Premier Inn owner Whitbread was out of favour among investors on Thursday, with Panmure Gordon downgrading its rating on the stock from 'hold' to 'sell'. The risks are now too high to justify the shares trading on record-high multiples and at a significant premium to the market, the
Read moreLondon close: Resource and utility stocks drag markets lower, data comes in weak
13th Mar 2015 16:45
UK stocks bounced off their lowest levels of the day by the close but still ended in the red as falling mining, energy and utility shares provided a drag. After touching a low of 6,713.50, London's FTSE 100 finished down 20.49 points (-0.3%) at 6,740.58, ending the week down 2.5%. Brent crude was t
Read moreFTSE 100 movers: Energy stocks and supermarkets trade lower
13th Mar 2015 13:28
Energy stocks declined on Friday, ahead of the Labour Party conference, during which Ed Miliband is expected to outline plans to cut energy prices if his party wins the General Election. SSE and British Gas owner Centrica were both trading lower. Supermarkets Tesco and Sainsbury were trading lower a
Read moreBroker tips: Whitbread, Diageo, Lloyds, Asos
13th Mar 2015 12:20
Shares in Premier Inn and Costa owner Whitbread received a boost on Friday from UBS which upgraded its rating on the stock from 'sell' to 'neutral'. The bank hiked its target price on the shares from 4,700p to 5,400p, but said: "The valuation is certainly not cheap." Spirits group Diageo was shot d
Read moreFriday broker round-up
13th Mar 2015 12:06
Poundland: Morgan Stanley lifts target to 280p from 245p and reiterates underweight. Vesuvius: UBS hikes target to 610p from 560p and reiterates buy. Prudential: Credit Suisse raises target to 1,900p from 1,750p and reiterates outperform. BT Group: Berenberg raises target to 570p from 475p and rei
Read moreLondon midday: Markets slip after weak construction data, utilities fall
13th Mar 2015 12:03
Stocks in London dipped into the red on Friday morning after data showed an unexpected decline in UK construction output, while utility shares weakened on political uncertainty. The FTSE 100 was down 0.35% at 6,737.10 by midday with SSE and Centrica among the worst performers. Construction output d
Read moreUBS upgrades Whitbread to 'neutral' as Premier Inn concerns ease
13th Mar 2015 09:23
Shares in Premier Inn and Costa owner Whitbread received a boost on Friday from UBS which upgraded its rating on the stock from 'sell' to 'neutral'. The bank hiked its target price on the shares from 4,700p to 5,400p, but said: "The valuation is certainly not cheap." UBS downgraded Whitbread to 'se
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