BEST OF THE BROKERS July 23, 2009 LONMINInvestec said Lonmin reported solid third-quarter operational results, but has reduced its full-year 2009 sales guidance to 680-700 ounces, from 700 ounces. The broker had already cuts its forecast to 674 ounces but the news did not change its recommendation that investors “hold” the stock with a target price of 1,050p. BAE SYSTEMSAhead of BAE [...]
BEST OF THE BROKERS July 21, 2009 CABLE & WIRELESSCable & Wireless maintained guidance at both division and group levels in its first-quarter interim management statement, and Royal Bank of Scotland still considers the equity story one of the most compelling of European telecoms companies. The broker has a “buy” recommendation on the stock, with a target price of 200p. AUTONOMYInvestec believes [...]
ECONOMIST VIEWS: WHAT IS THE OUTLOOK FOR THE UK HOUSING MARKET? July 19, 2009 SEEMA SHAH CAPITAL ECONOMICSIn our view there are more falls to come, although recent falls have been slower than seen previously. The problem is that just by looking at a couple of months rise you forget how far they have fallen from the peak. The outlook is slightly more positive than it was but we [...]
ANALYST VIEWS: WERE AUTONOMY’S RESULTS ALL POSITIVE? July 16, 2009 JULIAN YATES INVESTECThe results were slightly behind our expectations, but ahead of consensus. Deferred revenue is at record levels but was helped by the Interwoven acquisition and was actually below the level we expected. Overall, there is little in these results to encourage us to change our “hold” stance on the shares. ROGER PHILLIPS EVOLUTION [...]
SEEING IS BELIEVING AS 6,500 RUNNERS HIT THE CITY OF LONDON July 16, 2009 THE CITY was out in force last night for the fifth annual Standard Chartered Great City Run, and The Capitalist was impressed that as many as 6,500 of you tackled the five kilometre race in the name of the official charity, Seeing is Believing (SiB). The square mile closed to traffic so that teams from [...]
WHAT ARE YOUR EXPECTATIONS FOR INFLATION? July 12, 2009 HOWARD ARCHER IHS GLOBAL INSIGHTInflation data for June should show a continuation of the recent downward trend. Some utility prices have been also been trimmed recently, while the upward pressure from food prices continued to ease in June.DAVID PAGE INVESTECRPI inflation data looks likely to fall deeper into negative territory – we expect -1.5 per cent. [...]
BEST OF THE BROKERS July 12, 2009 CHLORIDEKBC Peel Hunt cut its target price on Chloride from 160p to 140p and downgraded the stock from “buy” to “hold”, after reducing its 2011 forecasts for the group. The broker said that long-term growth drivers are intact and that service revenues will provide some resilience, but that margin pressure is inevitable.CARPETRIGHTInvestec cuts its forecasts [...]
IDENTITY CRISIS AT FUND VETERAN JOHN DUFFIELD’S NEW VENTURE July 9, 2009 JOHN Duffield really hasn’t been too lucky of late, has he? The veteran New Star Asset Management founder established a new venture called Hyde Park Asset Management back in April, as first revealed by yours truly, but soon had to ditch the moniker after hedge fund marketing firm Hyde Park Investment enlisted its legal heavies [...]
BEST OF THE BROKERS July 9, 2009 ADMIRALAdmiral’s recent underperformance makes them an attractive prospect, according to Bank of America Merrill Lynch, who upgraded it to a “buy” recommendation. Admiral’s stock has underperformed the sector by 11 per cent over the past three months, but Merrill Lynch believe Admiral’s near term trading outlook appears robust, and the insurance firm’s returns should be [...]
Robert Wiseman bullish after milk contract wins July 9, 2009 SCOTTISH dairy group Robert Wiseman said yesterday performance for the first quarter rose 8.5 per cent on the same period last year, thanks to a number of new contract wins. The firm took on three large milk supply contracts with the Co-op and two Spar wholesalers, Cappers and Blakemore. Robert Wiseman plans to increase capacity [...]