Editor's Picks
Synergy in good health, says Citi
Tuesday 07 Jun 2011
Synergy Health’s full-year results were in line with Citi’s expectations, but it was the provider of outsourced healthcare services’ outlook on the current year that really impressed the broker.
London close: Stocks creep higher again
Tuesday 07 Jun 2011
The top share index inched higher for a second day running on another quiet company news day. UK insurance buyout firm Resolution was wanted after it announced details of a share repurchase programme of up to £250m which is due to start tomorrow. The move is part of its target return of excess cash to shareholders totalling £500m (...)
Premium tips: WPP, Ashmore, Charles Stanley...
Tuesday 07 Jun 2011
Panmure Gordon downgraded advertising group WPP from ‘buy’ to ‘hold’, saying that – as it considers it likely that WPP will get involved in any auction process for Aegis’s Synovate market research division – “possible auction process for Synovate may weigh on WPP share until there is clarity.” The target price is slashed to 770p, from 940p previously.
Broker tips: WS Atkins, Young & Co's, HMV
Tuesday 07 Jun 2011
Numis downgrades engineering and infrastructure consultancy WS Atkins from a ‘buy’ to an ‘add’ rating, highlighting that the shares are now around 13% off its current target price of 919p.
Premium broker snap: UBS pleased with Ashmore's performance
Tuesday 07 Jun 2011
UBS has raised its earnings estimates for asset manager Ashmore Group on the back of the group's strong performance of funds.
Europe close: ECB endorses plans for 'roll over' of Greek debt?
Tuesday 07 Jun 2011
The main European equity benchmarks have closed mainly in the green (FTSE-100: 2, Dax-30: 19, Euro Stoxx 50: 9, SMI: -39), thanks to the modest bounce that we are now seeing on Wall Street and ahead of a speech, this evening, from the President of the Federal Reserve, Ben S.Bernanke.
OPEC may announce an increase in its production quotas
Tuesday 07 Jun 2011
The Organization of Petroleum Exporting Countries’ (OPEC) summit tomorrow is drawing a lot of attention, given the impact that the rise in energy quotes seems to have had on world growth. As well, there is keen interest in the internal dynamics of the meeting, with several reports highlighting the potential for considerable friction amongst some participants given that they favour different sides
London pre-open: FTSE 100 to give up gains
Tuesday 07 Jun 2011
The top share index is expected to give back the previous day’s modest gains on another quiet day on the company news front. Struggling CD and DVD retailer HMV has struck a refinancing deal with its banks worth £220m that represents an “important milestone” in securing the company’s financial stability.
Resolution plans to return £500m to shareholders
Tuesday 07 Jun 2011
UK insurance buyout firm Resolution has announced details of a share repurchase programme of up to £250m which is due to start tomorrow.
US newspaper round-up: Int'l Paper, OPEC, Apple...
Tuesday 07 Jun 2011
International Paper Co is offering to acquire Temple-Inland Inc for about $3.38bn in cash, disclosing the bid publicly Monday after being rejected by the rival cardboard-box maker in private discussions.
London pre-open: FTSE 100 to give up gains
Tuesday 07 Jun 2011
The top share index is expected to give back the previous day’s modest gains on another quiet day on the company news front.
Tuesday tips round-up: e2v, Workspace, DS Smith...
Tuesday 07 Jun 2011
e2v technologies is a maker of specialist technology for high-performance systems that was spun out of the old Marconi business by its management when Marconi collapsed in 2002. It is one of the Tempus tips for 2011, and one of the best-performing.
Commodities: Crude slips to 2-week low
Tuesday 07 Jun 2011
Crude oil prices closed at a two-week low on Monday after recent weak economic data sparked concern about reduced appetite for energy and on speculation that OPEC may raise supplies.
Tuesday newspaper round-up: IMF, Natural gas, Geithner...
Tuesday 07 Jun 2011
The International Monetary Fund gave its backing on Monday to George Osborne's austerity measures, although the fragile nature of the economy was again underlined by figures showing a sharp drop in high street spending last month. The Washington-based IMF said there was no need for the UK to change course, giving the chancellor a welcome respite from calls for the government to have a "plan B" to
US close: Economic concerns weigh on stocks
Monday 06 Jun 2011
US stocks finished lower on Monday, driven lower by the financial sector, as investors showed their concern over the economic recovery. With the disappointing month of May (for the economy) now passed, and with QE2 running out in the coming weeks, markets appear to be nervous, according to Uri Landesman, president of investment firm Platinum Partners.
London close: FTSE 100 outshines overseas stocks
Monday 06 Jun 2011
London’s leading share index was an island of blue in a sea of red Monday after the IMF’s endorsement of the government’s deficit-cutting programme.
Sable acquires stake in 1bn tonne coal project
Monday 06 Jun 2011
Sable Mining Africa, the AIM-mining company focused in sub-Saharan Africa, has acquired a 49% interest in Liberation Mining for an undisclosed sum.
FTSE 100 movers: Glencore rises, Lloyds drops
Monday 06 Jun 2011
Glencore, the newly-listed commodity trading house, is the top riser, helped by Deutsche Bank issuing a 'buy' recommendation on the stock.
Premium tips: Johnson Matthey, Imagination Tech, Workspace...
Monday 06 Jun 2011
Credit Suisse raised its target price for Moneysupermarket.com by 15%, saying that it expects its first half results to reflect sustained strong topline growth. The broker labels the price comparison website as a “core internet play”. An ‘outperform’ rating is retained, while the target price is raised from 100p to 115p.
Ratings agencies could yet torpedo a Greek debt roll-over?
Monday 06 Jun 2011
According to a report from Reuters officials at both Fitch and Moody’s have expressed concern regarding wether or not any ‘Vienna-style’ Greek debt reprofiling (or 'roll-over' or private debt) will be compulsory or not. More significantly, at least one of these agencies, Moody’s, has indicated that it will apply a broad definition of what constitutes ‘compulsory’.
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