Broker tips: British Airways, Hikma, Hunting
29th Oct 2010 13:06
Despite an 'excellent improvement' in profits and an upgraded target price, Panmure Gordon is sticking with its 'hold' recommendation for British Airways (BA) due to economic uncertainty. Half-year turnover for the airline rose by 8.4% to £4.4bn. BA also swung to a pre-tax profit of £158m from last
Read moreBroker snap: Hikma purchase gets thumbs up
29th Oct 2010 12:02
The purchase of a multi-source injectables business by Hikma Pharmaceuticals looks a good one 'at first glance' and has prompted KBC Peel Hunt to up its price target for Hikma, but not by enough to justify changing its neutral stance on the stock. The biotechnology and pharmaceuticals company anno
Read moreLondon midday: Miners pull index lower
29th Oct 2010 11:52
Weak miners and a poor reception to results from British Airways have discouraged buyers generally, despite some encouraging news on the consumer confidence front. GfK NOP's consumer confidence index improved to -19 in October, confounding economists' expectations of a slide to -22 or even lower. T
Read moreLondon open: Slow progress for blue chips
29th Oct 2010 08:42
London has made modest early gains despite a poor session in Asia and unconvincing display on Wall Street overnight. British Airways is lower even though it swung to a profit in the first half as the airline improved yields and cut costs. It made a pre-tax profit of £158m in the six months ended 30
Read moreHikma does 'transformational' injectables deal
29th Oct 2010 08:08
Hikma Pharmaceuticals becomes the second largest injectables supplier in the US after agreeing to pay $112m (£70m) in cash for Baxter Healthcare's generic injectables business. The Jordan-based firm said the acquired portfolio includes 41 products in over 150 dosage strengths and forms across 23 th
Read moreLondon close: Footsie rallies after shaky start
18th Oct 2010 16:48
After a sluggish start to the day, shares closed with good gains following a lively start on Wall Street. Better than expected profits on the back of a decline in provisions for bad loans at Citigroup sparked buying interest. Mining giants BHP Billiton and Rio Tinto have confirmed that their propo
Read moreLondon afternoon: Equities push on
18th Oct 2010 14:54
Leading shares added to the morning's gains over the lunch time session though miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in D
Read moreLondon midday: HSBC says get out of copper producers
18th Oct 2010 11:26
The blue-chip index ended the morning barely changed which, given that virtually all of the mining stocks were lower, counts as some sort of moral victory. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The c
Read moreLondon open: Weak start despite M&A burst
18th Oct 2010 08:58
London has made a cautious start to the day with miners weak though a burst of M&A has lifted the mood elsewhere. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in December of last ye
Read moreHikma pulls gout tablets from US market
18th Oct 2010 07:26
Jordan-based pharmaceuticals firm Hikma has sorted out its dispute with Mutual Pharmaceutical relating to the sale of oral colchicine tablets. Hikma's subsidiary and US agent, West-Ward Pharmaceutical, has discontinued its sales of oral colchicine until approval of its New Drug Application by the U
Read moreLondon close: Strong start to final quarter
1st Oct 2010 16:41
The last quarter of 2010 started well for London's leading share index, with buoyancy in the oil sector helping to offset continuing economic worries at home and abroad. Manufacturing data was subdued. Footsie gave up some of its early gains after figures from the US showed Manufacturing grew at th
Read moreLondon afternoon: Footsie back above 5600
1st Oct 2010 14:56
The afternoon session has seen the Footsie advance confidently, almost regaining its high for the day which was hit shortly after 10:00am. A solid start by Wall Street on the back of better than expected spending data has helped sentiment this side of the pond. Oil giant BP is higher amid speculat
Read moreBroker tips: Hikma, Aveva, Helphire
1st Oct 2010 13:24
Some investors may be bailing on pharmaceuticals firm Hikma in the wake of the press speculation about a plan by US regulators to ban unapproved oral colchicine products to treat gout, but Panmure Gordon is sticking by the stock. "We note the company's announcement this morning regarding the seemin
Read moreBroker snap: Hikma slide is buying opportunity
1st Oct 2010 12:55
Some investors may be bailing on pharmaceuticals firm Hikma in the wake of the press speculation about a plan by US regulators to ban unapproved oral colchicine products to treat gout, but Panmure Gordon is sticking by the stock. "We note the company's announcement this morning regarding the seemin
Read moreLondon midday: Stocks advance despite economic worries
1st Oct 2010 12:23
London's leading share index remains in positive territory, but worries over the European debt situation have weighed on sentiment slightly. The concerns centre on Ireland again, after figures showed manufacturing activity in the country contracted in September, with the purchasing managers' index
Read more