Broker tips: HSBC, Rotork, Centamin
2nd Aug 2011 11:39
RBS has downgraded its rating on global banking giant HSBC from buy to hold and lowers its target price from 750p to 640p, due to uncertain economic conditions in the US and Europe. "The prospect of slowing economic growth in the US and Europe delays the all-critical gradual rise in US policy rates
Read moreBroker snap: Peel Hunt expects to raise numbers at Rotork
2nd Aug 2011 10:36
Peel Hunt expects to make upgrades to its full-year forecasts for Rotork, following the engineering group's strong interim results. "Strong order intake, record order book and ongoing activity levels have increased management's FY [full-year] revenue expectations," notes analyst Thomas Rands. As s
Read moreRotork optimistic after record first half
2nd Aug 2011 10:07
Shares in FTSE 250 engineering group Rotork jumped by over a tenth on Tuesday morning after record revenue in the six months ended 30 June led the firm to raise its expectations for the full year. The company, which makes valves for the oil and gas, power and water industries, said that revenue gre
Read moreFTSE 250 movers: William Hill bets on full year targets
21st Apr 2011 13:33
Bookmaker William Hill is the best performer after reporting an 11% rise in revenues in the 13 weeks to 29 March. "We have seen excellent growth across our business in the first quarter, enabling us to remain confident in our expectations for the full year," chief executive Ralph Topping said. Rival
Read moreRotork confident for 2011
21st Apr 2011 07:20
Bath-based engineering company Rotork said it has started the year well and its record order intake and current activity levels makes it confident in making further progress in 2011. The company, which makes valves for the oil and gas, power and water industries, said its order intake in the fi
Read moreBroker tips: Standard Chartered, Cairn, Rotork
3rd Mar 2011 13:10
Nomura has upgraded its recommendation for Asia-focused bank Standard Chartered following the lender's confident reiteration of a target of double-digit revenue growth in 2011. The broker ups the rating to 'neutral', from 'reduce', but queries the profitability of Standard Chartered's growth and th
Read moreBroker snap: CS cuts target price for Rotork
3rd Mar 2011 11:37
Credit Suisse cuts the target price for engineering firm Rotork, saying earnings margins aren't as good as its sector peers. Following the group's 2010 results reported earlier in the week, the broker reduces its 2011 underlying pre-tax profit forecasts by 2%, but increases 2012 estimates by 1%. T
Read moreLondon close: Shares in late dive as Mideast worries resurface
1st Mar 2011 16:43
The spectre of higher oil prices sent a chill down traders' spines late in the afternoon, sending shares plummeting into the red. The turmoil in the Arab World is behind the spike in crude, with a barrel for April delivery rallying towards $100 in New York. Worries over the possibility of protests
Read moreLondon afternoon: Hard going for Footsie
1st Mar 2011 14:53
It's proving a struggle in London with not long to go until the close, as Wall Street fails to inject much excitement and miners either see gains trimmed or disappear completely. Aerospace and vehicles engineer GKN has few friends. It bounced back into the black last year as all divisions bar aeros
Read moreLondon midday: FTSE 100 gives up gains
1st Mar 2011 12:07
The top share index is flat after giving up early gains, while company updates in the FTSE 250 have sparked big moves in both directions. Capita is the best performer in the FTSE 100 after the outsourcing group said it was in talks with Zurich about performing some administrative tasks for the ins
Read moreLondon open: Miners lift Footsie
1st Mar 2011 08:50
Overnight gains on Wall Street and an improvement in Asia this morning have propelled London higher first thing Tuesday. Copper miners Antofagasta and Kazakhmys are the best performers so far. CD and computer games retailer HMV has issued another profits warning and begun talks with its banks abou
Read moreLondon pre-open: Footsie to retake 6,000
1st Mar 2011 07:36
Overnight gains on Wall Street and an improvement in Asia this morning look set to propel London higher first thing Tuesday. News that billionaire investor Warren Buffett is on the lookout for major acquisitions helped push the Dow Jones up 95 points yesterday. The FTSE 100 is expected to react
Read moreRecord results for Rotork
1st Mar 2011 07:04
Valve and actuators group Rotork delivered record revenue and profit in 2010, with all three of its divisions making progress. Revenue rose 7.6%, or 6.5% using constant exchange rates (CER), to £380.6m in 2010 from £353.5m in 2009. The market had been expecting sales of £374.5m. Adjusted profit be
Read moreBroker tips: BT, Dixons, Rotork
26th Nov 2010 13:40
Exane BNP Paribas has upgraded the target price for BT on Friday following the announcement of an Indian deal. The broker has hiked its target price for the UK telecoms giant by 20% on the day the group agreed to sell a 5.5% stake in Indian IT outsourcing company Tech Mahindra to Mahindra & Mahindr
Read moreBroker snap: Rotork reassures on revenue
26th Nov 2010 13:23
Despite upping the target price for engineering firm Rotork, Panmure Gooden does not think it is steep enough to justify a change from its 'hold' rating. "Comfort levels concerning revenue and margin growth are on the up for Rotork and, accordingly, we increase earnings estimates through to 2012E",
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