Best of the brokers

Nomura rates the bookie “reduce” with a target price of 260p. The broker thinks the firm’s exit from Greece will cost one per cent of 2013 earnings, and believes a deal to buy Sportingbet would be “excellent”.

Morgan Stanley has an “overweight” rating on the Argos owner and a price target of 140p. It sees the firm as one of the best festive plays on the FTSE, expecting it to benefit from Comet’s demise.

Numis rates the online retailer “add” and has a price target of 2,750p head of a first quarter update next Tuesday. The broker is looking out for 28 per cent sales growth, with the pace overseas slowing somewhat.