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  • Broker tips: AstraZeneca, Serco, GKN

    Tuesday 04 Jun 2013

    Panmure Gordon has retained its 'hold' rating and 3,200p target price for biopharmaceuticals group AstraZeneca, saying that the news of the pull-out from fostamatinib should remind investors of the risks that the business carries.

  • Broker snap: HSBC downgrades Serco, sees muted growth for outsourcers

    Tuesday 04 Jun 2013

    HSBC has retained its cautious view on UK public-sector outsourcers and has downgraded its rating for Serco from 'neutral' to 'underweight'.

  • London open: Markets rebound as 'tapering' concerns ease

    Tuesday 04 Jun 2013

    Markets rebounded on Tuesday morning following a choppy session the day before as renewed hopes about US stimulus lifted sentiment early on.

  • LondonMetric sells distribution assets

    Tuesday 04 Jun 2013

    LondonMetric Property is selling 11 distribution assets for 247.56m pounds to a joint venture between Prologis Europe and Norges Bank Investment Management.

  • Wolseley buoyed by US and UK growth in Q3

    Tuesday 04 Jun 2013

    Wolseley, the trade distributor of plumbing and heating products, said that continued strength in the US and a pick-up in growth in the UK helped drive sales in the third quarter, a trend that has continued into the fourth quarter.

  • Galliford Try bags 36m pound refurbishment contract

    Tuesday 04 Jun 2013

    FTSE 250-listed housebuilding and construction group Galliford Try said it has won a 36m pound contract to refurbish the Alphabeta office building in Central London.

  • AstraZeneca takes impairment after pulling development of arthritis drug

    Tuesday 04 Jun 2013

    Biopharmaceuticals giant AstraZeneca will be hit by a one-off impairment charge after admitting that it has decided not to pursue a regulatory filing for fostamatinib, an oral drug it was hoping could be an alternative treatment for rheumatoid arthritis.

  • Tuesday newspaper round-up: Co-op Bank, N Brown, Lonmin...

    Tuesday 04 Jun 2013

    According to The Times, The Co-operative Bank filled a big hole in its balance sheet with 900m pounds of cheap funding from the Bank of England in March through its Funding for Lending Scheme. "The same month it decided to stop offering corporate loans to new customers in recognition of the scale of the problems it faced," the paper says.

  • London close: Stocks fall after choppy day on mixed manufacturing data

    Monday 03 Jun 2013

    A mixed bag of manufacturing results from across the globe resulted in a weak start to the new month for financial markets, with the FTSE 100 sinking to levels not seen in over four weeks.

  • FTSE 100 movers: ARM drops as competition from Intel intensifies

    Monday 03 Jun 2013

    Chip designer ARM Holdings was the worst top-tier performer of the day on Monday after Samsung confirmed that it would use an Intel processor in its new Galaxy tablets, a sharp blow to ARM whose chips had previously powered some of the South Korean firm’s devices.

  • Severn Trent brushes off sweetened offer from LongRiver Partners

    Monday 03 Jun 2013

    Five billion pounds just isn’t good enough, according to water and sewerage group Severn Trent which on Monday rejected an improved offer from foreign investors.

  • London midday: Losses pared after UK, Eurozone manufacturing data

    Monday 03 Jun 2013

    Disappointing factory activity in China prompted sharp falls in early trading on Monday, though losses were pared by lunchtime after some better-than-expected manufacturing figures closer to home.

  • UK manufacturing beat forecasts slightly in May -UPDATE

    Monday 03 Jun 2013

    Domestic demand propels output increases; New orders-to-finished goods inventory ratio at 27-month high; Higher output and new orders lead to increased employment Input prices fall for second consecutive month

  • ECB's Draghi still sees gradual recovery this year

    Monday 03 Jun 2013

    European Central Bank (ECB) President Mario Draghi repeated his view that the Eurozone economy would move towards recovery in the second half of this year as long as governments pushed forward with structural reforms.

  • Igas Energy's reserves could quadruple those of the UK

    Monday 03 Jun 2013

    Shale gas producer Igas Energy has this morning revised its estimates of the potential natural gas reserves at its Northwest England license sharply higher.

  • LSE chief takes the 'long' view

    Monday 03 Jun 2013

    A round-up of the biggest director buys today so far.

  • Costain wins Hammersmith Flyover contract

    Monday 03 Jun 2013

    UK engineering and construction firm Costain said it has been awarded one of four places on Transport for London's framework for Early Contractor Involvement and Construction, initially worth 200m pounds overall.

  • Monday newspaper round-up: ENRC, Vodafone, AB Foods...

    Monday 03 Jun 2013

    The Times cites an internal review at mining group ENRC which recommended the firm to dismiss 20 of its senior staff for fraud and discipline more than 60. "The alleged wrongdoing at the FTSE 100 miner included employees using company money to buy a guesthouse, a farming business and a horse farm, according to a leaked document," the paper says.

  • Sunday newspaper round-up: Co-op, home prices, copper

    Friday 31 May 2013

    The Co-operative is weighing measures designed to bolster the capital levels at its banking subsidiary which may impose losses on the unit’s junior bondholders. The deficit in regulatory capital at its banking division has been estimated by Barclays analysts at between 800m pounds and 1.8bn pounds. That follows on reports, also in the Financial Times, that some councils have begun to cut their

  • Broker tips: Wolseley, Halfords, Lonmin

    Friday 31 May 2013

    Panmure Gordon recommends investors to take profits at heading and plumbing products group Wolseley ahead of its third-quarter results on June 4th.

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