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 [...]
BEST OF THE BROKERS July 7, 2009 MICROGENInvestec Securities reiterate their “buy” recommendation for IT group Microgen, which has issued an upbeat trading statement for the first half of the year. Investec believe that Microgen’s Aptitude branch looks particularly strong, having signed major contracts with blue-chip customers. Full-year earnings are ahead of expectations. WM MORRISONBank of America Merrill Lynch feels that Wm [...]
the INSIDER July 2, 2009 SEA THE STARS is top of my ‘back until beaten’ list and I will be backing John Oxx’s stable star tomorrow. A case can be made for both Rip Van Winkle and Conduit but the evidence isn’t that strong and they are simply playing for places. On the rest of the Sandown card there are [...]
CITY MOVES WHO’S SWITCHING JOBS July 2, 2009 FSSCThe Financial Services Skills Council has appointed Simon Ellis to lead an independent review of its future role and strategy. Ellis joins from Fidelity’s multi-manager business, where he was a managing director. He was also previously head of UK retail at AXA Investment Managers and was until recently a board director of the Investment Managers [...]
BEST OF THE BROKERS July 1, 2009 CRANSWICKKBC peel Hunt say that Cranswick’s success story this year is “more than just a BBQ boost” – although the hot weather has provided a boost to the sale of sausages – but also because of new business and the consumer switchover to beef and lamb products. After meeting the firm for an update, the [...]
BEST OF THE BROKERS June 30, 2009 ARRIVAInvestec was disappointed by Arriva’s trading update, which showed a weakening in all areas of the business, especially the Cross Country rail franchise. The broker said that further deterioration in trading is likely to emerge in time and it expects to downgrade its estimates. Despite a poor share price performance, Investec remains cautious on the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 30, 2009 FINANCIAL TIMES EON WARNS ON EU EMISSION COSTSThe European Union risks driving industry out of the region if it continues to push for deeper cuts in carbon dioxide emissions than other economies, according to the chief executive of Eon, one of the world’s biggest renewable energy companies. Wulf Bernotat, Eon’s chief executive, told the Financial [...]
Contraction in GDP is fastest in fifty years June 30, 2009 THE UK economy contracted at the fastest pace since 1958 in the first quarter of 2009, raising expectations that the Bank of England’s Monetary Policy Committee could expand quantitative easing. The Office for National Statistics said yesterday that it had revised downwards its estimate for first quarter GDP to -2.4 per cent from -1.9 per [...]
Monitise signs 8m deal with Visa International June 30, 2009 SHARES in mobile banking and payments service provider Monitise lifted by 28 per cent to 6.75p yesterday, after it said that it had signed a five-year strategic agreement with Visa International worth $13m (£7.9m). Monitise said Visa International, the world’s largest retail electronic payments network, would also subscribe to a rights issue of 73.2m new [...]
BEST OF THE BROKERS June 29, 2009 ADMIRALCredit Suisse said that Admiral is ideally positioned to take advantage of the improving price conditions in the UK personal car market and upgraded the stock from “neutral” to “outperform” with a target price of 1,097p. The broker said the firm offers a defensive alternative within the insurance sector. DSG INTERNATIONALJP Morgan upgraded its earnings [...]