Best of the Brokers for 30 July 2014 July 29, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com STANDARD CHARTERED PLC JP Morgan Cazenove has upgraded to “overweight” from “neutral”, also increasing the target price to 1,450p from 1,350p. The broker believes that some of the earnings headwinds facing the group could start to abate from the end of 2014, with [...]
London Report: GKN and Next report upbeat earnings to lift FTSE after slump July 29, 2014 THE FTSE 100 posted its first gain in three days yesterday, with upbeat earnings reports from GKN and Next lifting the mood. However, shares in BP bucked the trend, falling amid concerns on the fallout from new, tougher sanctions on Russia. The index climbed 0.3 per cent to close at 6,807.75, recovering from a 0.1 [...]
New York Report: Caution halts Dow’s rise July 29, 2014 US STOCKS yesterday ended a choppy trading session lower, as investors turned cautious after the EU and President Barack Obama announced a new round of sanctions against Russia for its role in Ukraine’s deadly civil war. The Dow Jones industrial average fell 70.16 points, or 0.41 per cent, to 16,912.43, the S&P 500 lost 8.93 [...]
Broad chasing early scalps but not a follow-on July 29, 2014 SEAMER Stuart Broad admits that England are unlikely to enforce the follow-on today despite it remaining a viable option after seven Indian wickets fell on day three of the third Test in Southampton. The tourists reached 323-8 at the close yesterday, 246 behind England’s first innings total of 569-7 declared and still 47 runs short [...]
Smith silences critics as England gymnasts win double team gold July 29, 2014 TRIPLE Olympic medallist Louis Smith hit back at his critics after England secured double gold in the gymnastic team events at the Commonwealth Games yesterday. The men’s side sealed a first competition gold since 2002, with England’s women following suit by beating Australia to first place on the podium. Smith deputised on the parallel bars [...]
Wet, wet, wet in West London as Ruislip Manor station flooded July 28, 2014 Dozens of homes in West London were flooded yesterday as a sudden downpour hit the rush-hour traffic. Ruislip Manor station (pictured) was closed for several hours and around 30 commuters were evacuated. The western end of the Metropolitan line was also flooded, causing severe delays yesterday morning. A series of storms also battered the south coast, [...]
Solid Pace profits overshadowed by finance chief’s resignation July 28, 2014 FTSE 250-listed set-top box maker Pace Group said it expected full- year profit to exceed previous guidance, driven by new product launches and contract wins. Despite the strong interim results yesterday, which initially prompted minor gains, shares in the British firm slipped 3.6 per cent to 355p after Pace revealed that its well-regarded finance director, [...]
Giraffe restaurant’s co-founders Juliette and Russel Joffe quit July 28, 2014 Giraffe’s co-founders Juliette and Russel Joffe quit their jobs at the restaurant chain yesterday, just over one year after they and fellow founder Andrew Jacobs sold the chain to Tesco. Jacobs is staying on in his job, while the Joffes will continue some work with Tesco in a consulting capacity. Giraffe has 60 sites, including [...]
Suit alors! lawyer cycles Boris bike to Paris July 28, 2014 Save the Boris bike spotted in Gambia, few have been further than the one cycled by Richard Jordan, lawyer at K&L Gates, from London to Paris at the weekend. Raising money for the RNLI by cycling the 250 miles between the two cities for the second time, Jordan decided to up the ante by doing [...]
Cranswick tick up in revenues July 28, 2014 UK FOOD producer Cranswick yesterday said quarterly results were in line with management expectations after reporting a five per cent rise in revenues. The results, for the quarter ending June, showed operating margins in the quarter were stable. Its debt also fell to £22m from the same point last year to £33m. It highlighted the [...]
