London open: Footsie struggles despite bumper Apple crop
20th Oct 2009 08:38
Excitement in the US over better than expected third quarter results from iPhone giant Apple has not crossed the Atlantic with UK blue chips struggling to make headway. Banks are proving a drag. Barclays is lower, seemingly on the news that its president Bob Diamond has turned down the chance to be
Read moreInchcape hikes 2009 forecast
20th Oct 2009 08:03
Car dealer Inchcape full year results are expected to be significantly ahead of previous expectations, but cautioned that conditions are expected to remain challenging well into the second half of 2010. Revenue during the third-quarter revenue declined 13.4% year on year but rose 2.2% quarter on qu
Read moreBroker tips: Supermarkets, Inchcape, Dunelm
2nd Oct 2009 13:14
Food price deflation is about to put a dent in the earnings of the major UK supermarkets if the experience of their US counterparts is anything to go by, reckons Citigroup. The US bank has slapped sell recommendations on Tesco, Sainsbury and Morrisons. Citi said high hopes at the beginning of the y
Read moreBroker snap: Inchcape to benefit from scrappage schemes
2nd Oct 2009 13:04
Panmure Gordon has raised its target price for car dealer Inchcape as a number of its major markets begin to show signs of recovery, and now reckons the shares are worth buying. The broker's new target price is 42p, up from 29p previously, with the change prompted by an upgrade to its earnings fore
Read moreWebb pumps £100k into Autonomy
30th Jul 2009 17:05
Autonomy's non-executive chairman Robert Webb has decided its time to dip in and pick up a stake in the data search software specialist. The shares have tumbled 23% since hitting 1,538p at the end of May, a level not seen since the tech bubble began to burst in 2000. Webb, who only took up his pos
Read moreThursday tips round-up: BG, Inchcape, Halfords
30th Jul 2009 06:04
Recent fluctuations in BG's share price, from 1162p in early June to 979.5p earlier this month (it has recovered since) suggest it is time to buy. The rating, at 14.3 times next year's earnings, is not overly demanding, although this stock, with its 1.3 per cent yield, is not for income seekers. G
Read moreLondon close: Upward march recommences
29th Jul 2009 16:47
Footsie was back to winning ways Wednesday as investors digested a stream of company updates. Fund manager Schroders led the way after Morgan Stanley upgraded the firm to "overweight" from "underweight" and raised its price target to 1,045p from 710p. Rexam was the major faller after it launched
Read moreLondon afternoon: Financials lift Footsie
29th Jul 2009 14:33
Risers outnumber fallers by around three to one among FTSE 100 constituents, as the blue-chip index resumes its upward climb following yesterday's pause for breath. Financial stocks lead the advance, with insurers Aviva, RSA and Standard Life to the fore, as is part-nationalised bank Royal Bank of
Read moreFTSE 250 movers: Updates shake up mid-cap index
29th Jul 2009 14:19
With several mid-cap firms in the news today, there has been a lot of movement in both directions. Shares in wireless technology group CSR lead the FTSE 250 higher after it said an end to destocking from customers should have a positive effect on third quarter revenues. Car dealer Inchcape is hot
Read moreBroker tips: Schroders, Dignity, Inchcape
29th Jul 2009 13:35
Fund manager Schroders is seeing strong demand for its European corporate bond product, prompting Morgan Stanley to upgrade the stock. Morgan Stanley (MS) has changed its stance on Schroders from "underweight" to "overweight" and ramped up its price target from 710p to 1045p, arguing that the marke
Read moreBroker snap: Encouraging signs at Inchcape
29th Jul 2009 13:33
Panmure Gordon has turned bullish on Inchcape after the car dealer's better than expected results on Wednesday morning. "Inchcape delivered an adjusted PBT [profit before tax] of £65.4m, which compares to our forecast of £50.2m and £130.3m last year. This reflected a LFL [like for like] reduction o
Read moreLondon midday: Blue-chips advance on broad front
29th Jul 2009 11:50
Having seen its winning streak come to an end yesterday Footsie is back on the rise today despite some mixed corporate news. Rexam is the major faller after it launched its well-flagged rights issue to raise £351m at a big discount to the current share price. The interim dividend has also been scra
Read moreProfits halve at Inchcape
29th Jul 2009 07:20
we remain cautious for the second half of 2009 overall. Challenging market conditions are expected in Singapore, Russia and Eastern Europe due to weaker demand and pressure on margins.
Read moreLondon close: US gains lift Footsie
24th Jun 2009 16:36
After a lacklustre start to the day, the FTSE 100 finished with good gains, helped by a strong performance on Wall Street. US stocks were helped by a rise in durable goods orders, which climbed 1.8% in May, against expectations of 0.9% fall. Miners Kazakhmys, ENRC and Vedanta were in demand on the
Read moreFTSE 250 movers: Car dealer Inchcape races ahead
24th Jun 2009 14:36
There were big gains for the market Wednesday, with healthy results pushing the mid-cap index sharply higher. Sales slumped at Inchcape during the five months ended 31 May, but the car dealer's shares still motored ahead. It said second quarter pre-tax profit should be "significantly" ahead of the
Read more