Tobacco picks FTSE up from a five-month low – London Report June 16, 2015 BRITAIN’S main share index bounced up off five-month lows yesterday, boosted by firmer tobacco stocks and a broader stabilisation in equity markets which have slumped in recent sessions on fears over Greece. The blue-chip FTSE 100 index closed at 6,710.10 points – flat in percentage terms but above an intraday low of 6,656.90 points which [...]
Best of the Brokers for 22 June 2015 June 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AUTO TRADER GROUP Numis reiterated its “buy” recommendation for the online car market, citing encouraging financial year 2015 results, with revenues up eight per cent and EBITDA up 15 per cent. The broker described the group as set fair, and said it will [...]
Best of the Brokers for 17 June 2015 June 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com NMC HEALTH Numis has upped its target price to £12.50 per share from £11.30 previously after its acquisition earlier this week of ProVita. The broker sees further upside from synergies with recent acquisitions, as well as continued deployment of its debt facility and [...]
Entertainment and tobacco losses add to cautious trading – London Report June 2, 2015 BRITAIN’S top share index posted its lowest close in more than three weeks yesterday, as tobacco stocks slipped after a Canadian court ruling and Merlin Entertainments slumped following an accident at a theme park run by the company. Shares in Merlin fell 3.5 per cent on news that four people were seriously hurt at one [...]
British American Tobacco backing $56bn merger July 14, 2014 BRITISH American Tobacco (BAT) is set to wade into one of the biggest tobacco deals in the industry’s history this week as it looks to up its stake in Reynolds as part of an expected $56bn (£32.7bn) mega-merger between Lorillard and Reynolds. BAT, which currently holds a 42 per cent stake in Reynolds, on Friday [...]
£8.2bn tobacco lawsuit is no deterrent says City June 2, 2015 CITY investors and analysts insist that tobacco stocks are still good value for money, despite recent Canadian lawsuits totalling £8.2bn. The figure comes after the Quebec Superior Court found British American Tobacco (BAT), Rothmans B&H and JTI-MacDonald liable for moral and punitive damages in two lawsuits representing nearly one million smokers on Monday. One fund [...]
Strong service figures lift FTSE – London Report May 6, 2015 BRITAIN’S top share index edged higher yesterday, boosted by a survey showing that the country’s service sector grew faster than expected last month. The market showed little sign of nerves before today’s General Election. However, option prices suggest the index may see its biggest swing in two years on Friday, when investors get their first [...]
Tobacco firms take the puff out of FTSE amid merger talks – London Report March 31, 2015 WEAKER tobacco and commodity company stocks hit Britain’s leading share index yesterday – but the FTSE 100 still managed to make its biggest quarterly gain since 2013. The FTSE was down 118.39 points, or 1.7 per cent, at 6,773.04 by the close, but is up 3.2 per cent this year. Consumer staple stocks were responsible [...]
Cigarette plain packaging could leave UK government with £11bn legal bill March 11, 2015 Tobacco giants last night warned that the government could be landed with a huge legal bill, after plain packaging for cigarettes came a step closer yesterday with a vote in parliament backing the move. British American Tobacco (BAT) confirmed that if the House of Lords gives its final approval to the proposals next week, it [...]
Investor caution leads FTSE to a three-week low – London Report April 29, 2015 BRITAIN’S top share index slipped to a three-week low yesterday as a slowing US economy and caution before the end of a Federal Reserve policy meeting led some investors to take profits from recent highs. The US reported its economy grew in the first quarter at just a 0.2 per cent annual rate, well below [...]