Editor's Picks
Broker snap: Analysts downgrade Burberry but stay long-term fans - UPDATE
Monday 10 Sep 2012
Iconic British luxury brand Burberry lost a fifth of its market value on Tuesday after warning that full-year profits will be at the lower end of current forecasts, prompting several brokers to remove their ‘buy’ ratings on the stock.
FX round-up: Dollar pulls off four-month low
Monday 10 Sep 2012
The dollar recovered from a four-month low on Monday while the euro nursed losses for the first time in four days.
Tuesday newspaper round-up: ESM, Barclays, BHP
Monday 10 Sep 2012
A delay to the highly anticipated German court decision on bail-out funding and a rebellion in the Greek government over austerity doused hopes that the European Central Bank will be able to stem the crisis after all. Germany’s federal constitutional court said it might be forced to delay its ruling on the legality of the European Stability Mechanism (ESM) because of an eleventh hour objection by
FTSE 250 movers: Spirax-Sarco rises on upgrade
Monday 10 Sep 2012
Spirax-Sarco was performing well after Goldman Sachs upgraded the stock to 'buy' and raised its target price from 2,100p to 2,510p.
Soros tells Germany to lead or leave euro
Monday 10 Sep 2012
Billionaire investor and philanthropist George Soros made some bold statements in an interview with the Financial Times, saing that Germany must either lead the Eurozone out of recession or leave the currency union in order to save the future of Europe.
Broker snap: QE will drive mining equities, says UBS
Monday 10 Sep 2012
The outlook for the UK mining sector is now improving as expectations for quantitative easing (QE) increasing, according to UBS on Monday morning.
Broker snap: A disappointing year for Chariot, says Seymour Pierce
Monday 10 Sep 2012
Seymour Pierce has retained its 'sell' recommendation for AIM-listed oil and gas group Chariot Oil and Gas, which plummeted on Monday morning after revealing that it has plugged and abandoned its Kabeljour exploration well, offshore Namibia.
Market overview: Wheels come off at Chariot
Monday 10 Sep 2012
0955: Shares of Chariot Oil and Gas, an Africa-focused exploration company, are plummeting by 61 per cent after reporting that initial logging results at the Kabeljou exploration well in the Orange basin offshore Namibia indicate that no commercial hydrocarbons were found. Analysts at Peel Hunt have reacted by cutting their price target on the shares to 40p from 150p beforehand. Analysts at
RBS could announce Direct Line flotation this week
Monday 10 Sep 2012
Government-owned lender Royal Bank of Scotland (RBS) could start the process of spinning off its Direct Line Insurance Group by the end of the week, reports indicate.
Broker snap: Investec to cut forecasts for AB Foods
Monday 10 Sep 2012
Investec has reiterated its 'hold' rating and 1,300p target price for Primark owner and sugar group Associated British Foods as the firm's pre-close trading update guided to full-year results slightly below forecasts.
Burberry warns on full year profits
Monday 10 Sep 2012
British fashion house Burberry warned that trading conditions were becoming more challenging with like-for-like sales flat in the second quarter.
Tullow discovers hydrocarbons in Kenya
Monday 10 Sep 2012
Tullow Oil has discovered gas at an exploration well in the L8 Licence area, the first hydrocarbon discovery offshore Kenya.
BP in talks to sell non-strategic Gulf of Mexico oil fields
Friday 07 Sep 2012
Oil major BP is in advanced talks to sell a group of oilfields in the Gulf of Mexico to US outfit Plains Exploration&Production, said two people with knowledge of the matter, according to reports in The Wall Street Journal and Bloomberg.
Intertek acquires testing services firm NDT
Friday 07 Sep 2012
Quality control services group Intertek has acquired NDT Services, a provider of non-destructive testing services to the energy, petrochemical, power and aerospace industries.
Primark growth quickens at AB Foods
Friday 07 Sep 2012
Primark and Silver Spoon owner Associated British Foods said its adjusted operating profit for the second half of its financial year will be well ahead of a year ago, in line with expectations.
Xstrata demands takeover premium
Friday 07 Sep 2012
The independent directors of Xstrata are asking for more details on the eleventh hour change to merger proposals presented to them by Glencore on Friday morning, but they do not seem very impressed with what they have seen so far.
Broker tips: Life insurers, ASOS, May Gurney
Friday 07 Sep 2012
Credit Suisse has downgraded its rating for Legal & General as part of its review of the UK life insurance sector.
FTSE 100 movers: Appetite for miners and banks unabated
Friday 07 Sep 2012
There are some heavy gains by Footsie stocks on Friday but they have been largely offset by some chunky losses.
Broker snap: ASOS is a 'disruptor' in a staid industry, says Jefferies
Friday 07 Sep 2012
Jefferies has initiated its coverage of internet retailing giant ASOS with a 'buy' rating and 2,199p target price.
Commodities: Gold bounces after weak US jobs data
Friday 07 Sep 2012
Gold prices surged over two per cent on Friday as the prospect of a third round of stimulus was bolstered by a weaker than expected US jobs report.
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