FTSE climbs as investors pile into financial stocks June 28, 2011 FINANCIAL stocks helped Britain’s top share index climb yesterday as hopes of a resolution to Greece’s debt problems spurred appetite for riskier assets. Banks were in demand, led by part state-owned Royal Bank of Scotland as investors bet the Greek parliament will this week vote through austerity measures needed to secure more aid from international [...]
TUI exits blue chip index in FTSE reshuffle June 8, 2011 TRAVEL company TUI Travel will leave the FTSE 100 index on 20 June as part of the latest quarterly reshuffle of British indices. Food ingredients maker Tate & Lyle will be promoted from the FTSE 250 index as a replacement, re-entering the blue chip index for the first time since March 2009. TUI Travel shares [...]
TUI faces FTSE 100 exit June 6, 2011 TRAVEL firm TUI Travel may lose its blue chip status at the quarterly reshuffle of UK indices later this week, according to data from FTSE. Based on Friday’s closing share prices, TUI Travel is the only FTSE 100 stock at 111th position or below in the indices and, therefore, the only candidate for potential demotion [...]
BEST OF THE BROKERS May 31, 2011 ERICSSON UBS rates the telecommunications company a “buy” and has a 12-month target price of $16.04 (£9.72), up from $15.24. The broker has raised its earnings forecasts by four to six per cent for 2012 onwards and has raised its capital expenditure forecasts to around four per cent a year on the back of new [...]
Tate&Lyle beats forecasts and plots more growth May 27, 2011 Sweeteners and starches maker Tate & Lyle beat forecasts with a 34 per cent rise in year profits on Friday helped by higher corn prices and gave an upbeat outlook as it sees another year of profitable growth. The maker of sweeteners like Splenda and starches said it saw a year of good sales growth [...]
Legal action dogs Tate & Lyle May 25, 2011 TATE & Lyle (T&L) will announce its annual results tomorrow against the backdrop of a £100m legal dispute. The conglomerate is embroiled in a complex court case with London-based firm Whitefox Technologies. The two firms are suing each other in a spat that could cost the giant in excess of £100m if it loses. There [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 16, 2011 FINANCIAL TIMES WEST COAST RAIL FACES RETURN TO STATE HANDS Britain’s most profitable train franchise could be taken back into state hands following a government decision to delay the auction of the West Coast service amid an overhaul of the rail system. Virgin Trains is due to hand back the contract to run the lucrative [...]
BEST OF THE BROKERS May 12, 2011 ITV Morgan Stanley has cut the broadcaster from “overweight” to “equalweight” and has lowered its target price by 25p to 75p following results on Wednesday. The broker has reduced its advertising forecasts for 2011 from three per cent growth to 1.1 per cent contraction, and warns that all revenue drops will filter through to ITV’s [...]
Tate & Lyle sells Vietnam branch April 20, 2011 TATE & LYLE yesterday announced that it has agreed to sell its Vietnamese sugar business in a cash deal worth £33m, subject to regulatory approval. The sale to Vietnam firm TH Milk Food Joint Stock Company is part of the firm’s efforts to address its debt pile. The transaction is conditional on the Vietnamese government [...]
BEST OF THE BROKERS April 3, 2011 TATE & LYLE RBS rates the UK speciality food producer “buy” and ups its target price from 580p to 625p following a positive trading update and the sale of its Fort Dodge ethanol plant to Cargill for £36m. Though the sale is at a significant shortfall to the £234m of investment it had made, the [...]