BEST OF THE BROKERS December 20, 2011 AGGREKO After yesterday’s trading statement and a meeting with management, JP Morgan rates the temporary power provider as “neutral” with a target price of 1850p. The broker says trading seems to be strong, and upgrades its estimates from 2012 by two per cent to account for lower tax. It expects a reasonable margin on work [...]
Santa rally looks unlikely as FTSE loses ground on very light volumes December 19, 2011 BANKS dragged the FTSE 100 lower in extremely light trade yesterday after the British government estimated the cost to banks of reforming the UK banking system could be as much as £8bn. London’s blue chip index was down 22.35 points, or 0.4 per cent, at 5,364.99, with volumes at just 67 per cent of their [...]
FTSE rises as Greece closes in on deal January 31, 2012 The FTSE 100 rose in early trading on hopes Greece was nearing a debt swap deal required to salvage the nation’s finances while European leaders agreed on stricter budget discipline measures to help prevent further debt disasters in the region. Greek Prime Minister Lucas Papademos said negotiators had made “significant progress” in talks to strike [...]
Ocado tumbles after sales slowdown May 11, 2011 OCADO led the FTSE 250 fallers yesterday, with its shares dropping over nine per cent after it admitted its sales were checked by capacity constraints. Ocado’s growth slowed from 24 per cent in its first-quarter to 18 per cent in the last three months. It says it expects sales to grow by 21 per cent [...]
Ocado tumbles after sales slowdown May 11, 2011 OCADO led the FTSE 250 fallers yesterday, with its shares dropping over nine per cent after it admitted its sales were checked by capacity constraints. Ocado’s growth slowed from 24 per cent in its first-quarter to 18 per cent in the last three months. It says it expects sales to grow by 21 per cent [...]
Strong earnings and Greek hopes cause FTSE to jump February 1, 2012 BULLISH company earnings reports and the prospect of Greece nearing a debt deal helped lift Britain’s FTSE 100 higher yesterday, while robust manufacturing data from China, the US and Europe boosted appetite for the mining sector. London’s blue chip index rose 109.11 points, or 1.9 per cent to 5,790.72. The index closed below 5,800, where [...]
New chair for Trinity Mirror December 6, 2011 PUBLISHING group Trinity Mirror yesterday announced that Sir Ian Gibson will be stepping down as chairman in August 2012 to be replaced by accountant David Grigson (pictured), who will join the board as a non-executive director and chairman designate from 1 January. Grigson is currently the chairman of communications group Creston and a non-executive director [...]
New chair for Trinity Mirror December 6, 2011 PUBLISHING group Trinity Mirror yesterday announced that Sir Ian Gibson will be stepping down as chairman in August 2012 to be replaced by accountant David Grigson (pictured), who will join the board as a non-executive director and chairman designate from 1 January. Grigson is currently the chairman of communications group Creston and a non-executive director [...]
Banks steady FTSE but retailers dive January 12, 2012 The FTSE 100 index saw modest rises this morning as banks performed well in stark contrast to the retail sector which was pulled down by a string of poor results from heavyweights including Tesco. Investors were also digesting the results of a Spanish sovereign debt auction which showed yields going in a positive direction. Spain [...]
Banks hit by Vickers as North Korean leader dies December 19, 2011 The FTSE 100 was solid this morning but the festering Eurozone crisis continued to sap confidence in riskier assets and banks were down as the government confirmed that they would be hit with the full impact of the Vickers Report. But the agenda was dominated by the death of North Korean leader Kim Jong-il, sparking [...]