Brexit Campaign Resumes after Cox Killing

After a two-day hiatus, both sides of the Brexit debate resumed campaigning on Sunday. In a debate over immigration, both Leave and Remain sought to tone down the political rhetoric in response to the killing of Labour Member of Parliament Jo Cox. The death of pro-EU MP Jo Cox may have shifted the momentum back […]

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RBS: UK Government Announces Shares Sell Off

The chancellor George Osbourne this morning announced plans to begin the sell off of troubled part state owned bank RBS (RBS.L). The UK government provided RBS with a £45.5bn bailout in 2008 taking an 80% stake in the company. Plans announced this morning for a phased sell off of the governments holding have sparked criticism […]

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Vedanta Resource Up after Merger Rumours

Miner Vedanta Resources (VED.L) is boosted this morning after reports emerged of a possible merger of its Indian subsidiary company Vedanta Resources India with Cairn India. According to reports this morning the two companies are in final discussions on the merger which could be completed by next march 2016. Vedanta Resources (VED.L) said earlier today […]

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Citigroup Upgrade Boosts Weir

Engineering group Weir Group (WEIR.L) was boosted this morning by news from Citigroup of a upgrade on the stock. Moving its rating from NEUTRAL to  BUY and raising the target price on the share  from 1,750p to 2,200p. Citigroup says that the risk reward balance on Weir Group (WEIR.L) is now “tilted to the upside in […]

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888 Confirms Interest in Bwin.Party

Online gaming firm BWin.Party (BPTY.L) has confirmed it has received an offer in cash and shares from peer 888 holdings. In a statement from 888 the company said it saw “significant industrial logic” in the merger of the two companies, with its shareholders voting 59% in favour of the move. This comes after news last week that […]

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Bwin.Party confirms potential takeover talks

Online gaming firm BWin.Party (BPTY.L) has confirmed it has recently received several merger proposals including to many peoples surprise an attempt at takeover from AIM listed GVC Holdings to merge with its much bigger brother. Spokesman from BWin.Party (BPTY.L) confirmed that negotiations were continuing with “a number of third parties on a variety of possible […]

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Next Confirms Former Finance Director Leaves

David Keens, formerly the finance director of the company has left Next (NXT.L) has confirmed today. Keen had stepped down from the role of finance director mid march but had agreed to stay with the company until today. The company announced his departure this morning stating that Keen had no received any compensation from the […]

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HSBC Beats Estimates and Posts Q1 Profit of $7.1Bln

The recently underfire bank HSBC (HSBA.L) today announced first quarter profits in excess of analysts estimates after a diffcult end to 2014. The bank posted a $7.1Bln profit for the first quarter, up 4% on the same period last year and around a fifth higher than previous estimates. The bank benefited from reduced write offs […]

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Aussie Dollar On The Rise Even after Rate Cut

This morning the Australian Dollar is on the rise against its major counter parts despite the RBA announcing a 2.0% rate cut. This reflects speculation pre announcement that there maybe an even deeper cut so FX traders have reacted positively to the news with the Australian dollar up 0.45% against the dollar (AUD/USD) and 0.47% […]

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Tesco Gains Despite Posting Record Loss

Tesco (TSCO.L) the under fire supermarket chain today posted a record £6.4Bln loss to the year ending February. Compared to a £2.26Bln profit record the year before. The loss is the largest ever suffered by a UK retailer and enters into 6th place in the largest ever losses recorded in this countrys corporate history. Tesco […]

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Record Engine Order For Rolls Royce

Rolls Royce (RR.L) has received a record order of $9.2Bln for the supply of engines for 50 Emirates A380 planes. The order represents a milestone for the company as it is the first time Rolls Royce have been asked to supply engines for the Emirates Airline. Rolls Royce (RR.L) share price has recently been under […]

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Pearson Bounces after Yesterdays Strong Falls

The Share price of Pearson (PSON.L) the publishing group this morning rebounded slightly after yesterdays big falls on the back of news that Los Angeles second largest school district (LAUSD) is cancelling a $1.3Bln project based on Apple ipads using Pearsons course material. LAUSD is also thought to be considering legal action against Apple as […]

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Nestle Boosts Sales in First Quarter

Packaged food firm Nestle (NESN.VX) today announced improved sales figures for the first quarter, boosted by and increase in both prices and volume. Sales rose 4.4% year on year, coming in slightly better than analyst estimates of 4.3%. Sales for the period rose 0.5% to $20.9Bln although the company notes that currency exchange rates have […]

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Broker Round Up Thursday 16th April 2015

Numis reiterated BUY rating on Sab Miller (SAB.L) citing improved sales growth in 4th quarter. BAE Systems (BA.L) downgraded to NEUTRAL from BUY by UBS. The shares were ex dividend today however the news is also putting on the pressure. UBS does not believe there is further value in the shares as they move closer […]

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Debenhams H1 results above expectations

Department store firm Debenhams (DEB.L) today announced H1 results which were ahead of analysts expectations. Over the period the group said that like-for-like sales were up 1.3% and pre-tax profit rose 4.3% to £88.9M ahead of analyst expectations of £84M. Christmas also proved profitable for Debenhams (DEB.L), with a new online delivery options provided before […]

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Polymetals – Q1 Output falls. Maintains Full Year Guidance

Metals mining group Polymetals (POLY.L) today announced that output in the first quarter has fallen,driven by a decline in grades at two of its mines. GOLD production declined 3% in the first quarter to 186,000 ounces, while Silver production dropped 7% to 6.8m ounces. Total sales declined 11% to $298m, as gold sales rose 1% […]

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Tullow Oil Up 6% after Re-rating by Citigroup

Shares in Oil firm Tullow (TLW.L) were up over 6% this morning after Citigroup raised its rating on the stock to BUY from NEUTRAL citing the companies “quality and defensive” portfolio as being undervalued by the markets. Citigroups current estimate for the Net Asset Value of Tullow (TLW.L) is around 354p which the shares currently […]

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Citigroup Lowers BP rating to NEUTRAL

Citigroup bank believes that fair value is now reflected in the share price of BP (BP.L) and has revised its rating on the share to NEUTRAL from BUY. Commenting, Citigroup said “”We think the market now better reflects the inherent value in BP. A good-news story around a self-help agenda, narrowing Russian discount rates and […]

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Broker Round Up 13th April 2015

Citigroup revised expectations on the performance of the UK metals and mining sector this morning  to NEUTRAL from BULLISH and cut its projections for the short and medium term outlook of iron ore. Citigroup lowered ratings on Rio Tinto (RIO.L), Glencore (GLEN.L), BHP Biliton (BLT.L) and Lonmin (LMI.L) to NEUTRAL also lowering Vedanta (VED.L)  and […]

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Greene King CEO sells £0.6M in shares

Greene King (GNK.L) CEO Rooney Anand has taken advantage of shares under the company option scheme which were due to expire in August 15 by exercising a option at 528p and selling 74751 shares for a total of £629747 at 842.46p this morning. After the transaction is completed Anand now holds 467,265 shares in the group, […]

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HSBC Up after ratings upgrade

Morgan Stanley this morning upgraded HSBC (HSBA.L) to EQUALWEIGHT from UNDERWEIGHT citing share price underperformance. The broker says that HSBC (HSBA.L) has underperformed the STOXX600 banking index by around 17% this year so far and says compared to its european peers the group looks an appealing investment at current values and a strong dividend yield […]

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Intercontinental Hotels Group Up after Broker Re-rating

Shares in Intercontinental Hotels Group (IHG.L) posted a gain this morning after broker Jefferies moved its rating on the share to HOLD citing the group as a potential takeover target. Jefferies speculates that as growth slows in the sector mergers and aquisitions are set to return and sees Intercontinental Hotels Group (IHG.L) as a prime target as […]

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Burberry Top Rise in Ftse100 after Bid Rumours

Fashion House Burberry (BRBY.L) was this morning the top riser of the FTSE100 shares after rumours emerged of a possible bid from US cash rich firms or private equity groups. Newspaper, The Daily Mail today published an article reporting speculative buy out proposals in advance of Burberry’s (BRBY.L) latest financial statement, due next wednesday. The […]

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Alpari UK Arm Folds amidst Huge EUR/CHF Moves

The Swiss Central bank announced today it has abandoned plans to cap the swiss Franc against the Euro at 1.20. Driving currency markets to extreme turmoil and causing huge losses at a number of Forex brokers as the day unfolded. At some points the Swiss Franc rose 30% against the Euro, a rise not seen […]

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Rolls Royce announce £1Bln Share Buyback

Aircraft engine maker Rolls Royce (RR.L) has announced that following the successful completion of the sale of its Gas turbine and compressor business to Siemens they will buyback £1Bln of shares. Rolls Royce (RR.L) say the aim of the buyback to is to reduce the amount of issued capital in the company, the sale will […]

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Ashtead Share Price Jumps on Record First Half Profit

Equipment rental company Ashstead (AHT.L) today posted a record first half profit causing shares to move upwards. The company also revised upwards its full year profit expectations. In the first half Ashstead (AHT.L) profits rose 33% to a record £265.5M, with pretax profit in the second quarter up 33% to £145M. 8% higher than analyst […]

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Citigroup Says Lloyds most at risk UK Bank in Stress Tests

Citigroup has tipped Lloyds (LLOY.L) as the bank most likely to be at risk by the latest UK banking stress tests, of which results are due next week. The broker and analysts says BoE tests use more aggressive yard sticks and could see Lloyds in focus. Commenting Citigroup said ”All listed banks are likely to ‘pass’, […]

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Tesco Falls Sharply after Price Warning

Supermarket giant Tesco (TSCO.L) surprised the market this morning after an unscheduled announcement to investors issuing another profit warning. Tesco (TSCO.L) issued guidance of up to a 58% drop in full year profits, a much worse drop than was feared and send shares plummeting in early trading.  Tesco (TSCO.L) says profit for the year to […]

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Broker Downgrade Hits Glencore

Liberum announces a downgrade on Miner Glencore (GLEN.L), moving its rating from HOLD to SELL and citing concerns over coal production. Liberum says it is “going cold on coal”.  With Analysts Ben Davis and Richard Knights Commenting “Despite Glencore’s estimated deficit of 50m tonnes in 2016, it is difficult to be confident on price recovery when […]

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Sky and CVC deal sees Skybet valued at £800M

Sky (SKY.L) has announced news its has agreed to sell a controlling stake in online betting venture SkyBet to CVC capital partners in a deal valuing SkyBet at £800M. Under the terms of the transaction, Sky will receive cash of £600 million on completion and further deferred and contingent consideration up to the value of £120 million. The […]

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