BEST of the BROKERS April 22, 2012 MEGGITT Investec rates the global engineering group as a “buy” with a target price of 430p, saying it exited 2011 with good order and sales momentum and that trend is likely to be repeated when it reports for the first quarter on Thursday. STANDARD LIFE Panmure Gordon rates Standard Life as a “hold” ahead of [...]
FTSE shored up by banks April 20, 2012 The FTSE 100 was broadly flat this morning as investors turned their attention to an IMF meeting later today and French Presidential elections at the weekend. IMF leaders gathering in Washington want a big boost in funding to handle the Eurozone dent but Brazil has called for more power in the organisation for emerging nations. [...]
Argentina eyes up more Repsol businesses as criticism mounts April 19, 2012 ARGENTINA wants to take an even bigger chunk of Repsol YPF’s operations in the country including its gas arm, it revealed yesterday in an official decree. As the World Bank threw its weight behind growing global criticism of the renationalisation plans, the government said it aims to use its self-declared powers to seize Repsol YPF [...]
BEST of the BROKERS April 19, 2012 CARILLION Seymour Pierce rates the construction to services company as a “buy” with a target price of 440p after a sales presentation from the company’s executive where they remained upbeat about prospects for 2012 and beyond. The broker says the pipeline of opportunity remains strong and revenue visibility for this year is high at around [...]
Course specialist Merigo can claim his second Coral Scottish Grand National April 19, 2012 PAUL Nicholls had possibly the greatest day of his racing career last Saturday when Neptune Collonges finally broke his Grand National hoodoo, and Team Ditcheat will be confident of notching another big win tomorrow as Harry The Viking looks to hold strong claims in the Coral Scottish Grand National (3.25pm). The seven-year-old, part-owned by Sir [...]
Panmure poaches Seymour Pierce’s Wale as new chief April 18, 2012 Panmure Gordon, one of several niche investment banks operating in the City of London finance district, has poached Phillip Wale from rival Seymour Pierce to be its new chief executive. Panmure said on Wednesday Wale would take up his new role this summer, with current CEO Tim Linacre becoming chairman of its investment banking arm. [...]
Burberry posts rising revenues but shares drop April 17, 2012 BURBERRY’S shares retreated more than five per cent yesterday despite the luxury clothing brand posting an 18 per cent rise in second half sales, driven by strong sales in Europe and China. The 156-year-old fashion label posted total sales of £1.027bn for the six months to 31 March, with fourth quarter revenue up 16 per [...]
ANALYST VIEWS DOES MARKS & SPENCER’S STATEMENT AFFECT YOUR FORECASTS FOR NEXT YEAR ? April 17, 2012 BETHANY HOCKING INVESTEC Fourth quarter trading figures are weak but cost savings appear to have saved the day, with no change to full year expectations… For 2013 we have the first guidance – net this is negative, with cost growth worst than our forecast. The only good news is the downgraded capex guidance. Overall, however, [...]
CITY MOVES WHO’S SWITCHING JOBS April 17, 2012 Symvan Securities The corporate finance house has announced that Shamim Mansoor has joined as a mining analyst. Mansoor arrives from HSBC, where she served as vice-president global metals and mining. She previously worked for five years at Investec. CapQuest CapQuest, specialists in the purchase, management and collection of consumer debt, has appointed Bill Flynn as [...]
BEST of the BROKERS April 17, 2012 HIKMA UBS has upgraded the pharma group from “neutral” to “buy” with a target price of 755p, saying that a recent fall in the share price seems to already reflect expected changes to 2012-13 consensus. The broker still sees downside risk of 10 per cent and six per cent for 2012/13 respectively, but sees the [...]