Lloyds shares plunge 5.8pc after second government stake sale March 26, 2014 Lloyds shares are down 5.8 per cent at 74.7p per share after the government's sale of a 7.8 per cent stake in the bank. The government sold 5.56bn Shares priced at 75.5p each, raising £4.2bn for the treasury. The government's holding in Lloyds has now been reduced to 24.9 per cent from 39 per cent [...]
EasyJet cuts loss expectations and forecasts rising revenue March 25, 2014 Budget airline EasyJet has slashed its expectations for a pre-tax loss in the six months to 31 March from between £70m and £90m to between £55m and £65m. The company also expects a rise in revenue per seat of 1.5 per cent. Analysts at Investec have taken kindly to the results upgrading EasyJet from "hold" [...]
WPP in £20m Cognifide deal March 24, 2014 ADVERTISING giant WPP has taken a majority stake in London technology consulting firm Cognifide, whose clients include Direct Line, Virgin Media and Investec. The value of the deal was not disclosed, but it reportedly could be worth more than £20m. Co-founders Miro Walker and Stuart Dean are set for a windfall following the deal with [...]
Kentz’s shares lifted by higher profits and growing order book March 24, 2014 KENTZ’S shares climbed yesterday after the engineering firm unveiled a rapidly rising order book in 2014 and said full-year performance would be ahead of its previous expectations. The FTSE 250-listed company’s order book increased from $3.1bn (£1.9bn) at the end of 2013 to $4.1bn at the end of February 2014. “Current trading and new business-winning [...]
Best of the Brokers for 25 March 2014 March 24, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com LLOYDS Investec has returned to a “buy” rating on the bank, two months after downgrading it to a “hold”, and sticks to its 85p target. The broker says it’s safe for investors to get back into the water now Lloyds has tackled its PPI [...]
WPP snaps up leading digital tech consultancy March 24, 2014 British advertising giant WPP has agreed to acquire a majority stake in UK based digital technology consultancy Cognifide Limited. Cognifide founded in 2005, specialises in content management and digital asset management technology and employs over 200 people. The company boasts clients such as Allianz, Direct Line Group, Investec and Shell among many others. Cognifide will continue [...]
Best of the Brokers for 24 March 2014 March 24, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS UBS has kept its “neutral” rating on the online retailer but lowered its target price to 6,200p from 6,660p after a disappointing update on sales and margins last week. The broker expects the sales slowdown to be reversed in the second half, [...]
Analyst Views: Do Next’s results bode well for another strong performance this year? March 20, 2014 JOHN STEVENSON | PEEL HUNT While maintaining a cautious tone regarding economic recovery, the forward guidance from Next is significantly stronger than in recent years and leaves market expectations at the bottom end of Next’s own range. Such confidence in outlook will raise pressure on competitors Marks & Spencer and Debenhams. KATE CALVERT | INVESTEC [...]
Investec profits up as bad debts melt away in Britain’s recovery March 20, 2014 BRITISH and South African bank Investec expects operating profits to leap 28 per cent this financial year, as the recovery takes hold. The specialist lender’s revenues will rise by around 15 per cent when it unveils its results in May, while impairments will drop by around 35 per cent. The fall in bad loans means the [...]
Majestic shares dumped after profit warning March 20, 2014 INVESTORS uncorked their shares in Majestic Wine yesterday after the specialist wine retailer warned that a dry spell in February sales had flattened full-year profits. Chief executive Steve Lewis said that trading conditions since the more buoyant Christmas period have been “challenging” and that with just two weeks to go until its year-end, it now [...]