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FTSE 100 a distant memory for housebuilders
Winners & Losers HOUSEBUILDERS left the FTSE 100 in one of a string of changes to the London market in 2008. A drastic collapse in the value of the sector's biggest companies ensured that not a single one managed to keep its place among the...
Tags: FTSE, Trinity Mirror Plc.
Research articles 2009-01-02
Main Movers
UP Cairn Energy 1840p (up 196p, 11.92 per cent) Oil futures rise in anticipation of Opec production cut; read-across from Tullow Oil's drilling update. Standard Chartered 780p (up 30p, 4 per cent) Upgraded to "market perform" from "underperform" at Keefe, Bruyette & Woods. Spectris...
Tags: British Airways Plc., FTSE, OPEC, Reed Elsevier Inc., SABMiller Plc., Trinity Mirror Plc.
Research articles 2008-12-12
Liberty forecast to breach covenants
Market Report A "sell" note from Societe Generale depressed sentiment around Liberty International, the blue-chip property group, which fell back as the market surged yesterday. The broker said it now anticipates a 45 per cent "peak-to- trough" drop in property prices compared to 35 per...
Tags: FTSE, National Express Corp.
Research articles 2008-12-09
Struggling Debenhams 'may cut dividend'
Market Report MERRILL LYNCH resumed coverage on Debenhams yesterday, forecasting a fall in earnings and highlighting the prospect of a cut in the department store's dividend. "Other retailers' margin-protection strategies are likely to lead to increasing competition, which, coupled with a weak consumer [environment] and...
Tags: FTSE, HBOS Plc., Lonmin Plc., Xstrata Plc.
Research articles 2008-10-02
Cazenove note leaves Enterprise hungover
MARKET REPORT ENTERPRISE INNS was the weakest on the FTSE 100 yesterday after Cazenove, worried by data from a subsidiary, downgraded the stock to "underperform" from "in-line". The broker said that third-quarter data from the group's Unique division, which, according to Cazenove, accounts for 46...
Tags: FTSE, Trinity Mirror Plc.
Research articles 2008-08-28
DSG and Kesa shares hit by HSBC downgrade
MARKET REPORT HSBC unsettled DSG International and Kesa Electricals yesterday, pouring scorn on the notion of a possible bid from Best Buy. The broker said the speculation was "fanciful", and said the recent strength in DSG and Kesa shares looked like "madness". "Why...
Tags: FTSE, Kesa Electricals Plc.
Research articles 2008-08-27
Broker buoyancy helps Tullow Oil flare up
MARKET REPORT A COMBINATION of firmer commodity prices and positive broker comment aided Tullow Oil, the FTSE 100-listed oil and gas explorer and producer which was among the strongest in a resource sector rally yesterday. Tullow gained 6.84 per cent or 47.5p to 741.5p as...
Tags: FTSE, Tullow Oil Plc.
Research articles 2008-08-21
Trinity Mirror rises on 'Times of India' bid talk
MARKET REPORT POSSIBLE BID interest from Bennett, Coleman & Co, the media group behind The Times of India newspaper, drew investors into Trinity Mirror yesterday. Market sources cited rumours that the Indian group, which acquired Virgin Radio in a 53m deal in June, had approached...
Tags: FTSE, Trinity Mirror Plc.
Research articles 2008-07-25
Lonmin and Imperial fired up by bid speculation
MARKET REPORT LONMIN advanced by more than 5 per cent to 2,662p yesterday after a flurry of bid speculation swept through the mining sector. Xstrata, which was down 107p at 3,423p, and Eurasian Natural Resources Corporation ENRC, down 17p at 1,048p, were said to be...
Tags: FTSE, HBOS Plc., Lonmin Plc.
Research articles 2008-07-23
Alliance & Leicester tumbles over capital fears
MARKET REPORT Alliance & Leicester was weak yesterday after Panmure Gordon, mindful of the "unenviable combination of operating losses and declining credit quality/rising risk weightings", highlighted the need for additional capital at the FTSE 250-listed bank. The broker slashed its target price for the stock to...
Tags: Alliance & Leicester Plc., FTSE
Research articles 2008-07-09
Fears of covenant breach weigh on Wolseley
MARKET REPORT Wolseley touched its lowest level since late 2001 yesterday after ABN Amro warned investors about the risk of a covenant breach and highlighted the need for a rights issue. The broker said the company will breach its existing net debt to earnings before interest,...
Tags: ABN AMRO, Deutsche Bank AG, FTSE, Wolseley Plc.
Research articles 2008-06-28
Investors dig in to Camec on talk of Swiss interest
MARKET REPORT Bid speculation sparked a rally in the Central African Mining and Exploration Company Camec, yesterday. The Democratic Republic of Congo-focused copper and cobalt miner rose 5.73 per cent, or 3.25p, to 60p after rumours of interest from Glencore, the Swiss commodities trader, which owns...
Tags: Barratt Developments Plc., FTSE
Research articles 2008-06-13
Vale turns $30bn spotlight on Anglo American
MARKET REPORT Potential interest from Vale, the Brazilian miner which tried to take over Xstrata earlier this year, turned the spotlight on Anglo American yesterday. A report in the Brazilian press, which suggested that Vale was close to raising $30bn (15.4bn) to fund an acquisition, sparked...
Tags: Barratt Developments Plc., FTSE, Xstrata Plc.
Research articles 2008-06-11
Rentokil bucks the trend on MBO speculation
MARKET REPORT The business services specialist Rentokil Initial bucked the market trend and rose the most since late February yesterday after rumours suggested a management buyout plan may be in the offing. The speculation, which suggested that the newly installed ex-ICI management team headed by chairman...
Tags: FTSE, HBOS Plc., Rentokil Initial Plc.
Research articles 2008-06-05
Revived Coach bid talk drives Burberry higher
MARKET REPORT Burberry was back in fashion yesterday after early rumours suggested a bid may be forthcoming from Coach, the American handbag maker. The rumours were vague, bearing no clues about the level or the timing of an offer, and follow earlier speculation in March, when...
Tags: Burberry Ltd., FTSE
Research articles 2008-05-01
Whitbread takes top spot on Premier merger talk
MARKET REPORT Rumours that Premier Inn may yet merge with rival Travelodge helped take Whitbread to first place on the FTSE 100 leader board yesterday. Market speculation in March had suggested Whitbread, the hospitality group which owns the Premier Inn budget hotel chain, was close to...
Tags: FTSE, Whitbread Plc.
Research articles 2008-04-15
Investors dig into Vedanta as broker ups target
MARKET REPORT Deutsche Bank gave a boost to miners, who dominated the market yesterday. In a note enthusiastically entitled "Q2 revisions: Mining solid!", Deutsche said that while the FTSE mining index is flat since the start of the year, it has performed better than the broader...
Tags: Barratt Developments Plc., FTSE
Research articles 2008-03-29
Alliance & Leicester heads banking recovery
MARKET REPORT Financial stocks mounted a comeback on the FTSE 100 yesterday. After suffering in the wake of problems at the American investment bank Bear Stearns, banking stocks were buoyed as their representatives met with the Bank of England on Thursday afternoon. Alliance & Leicester was...
Tags: Alliance & Leicester Plc., FTSE
Research articles 2008-03-21
Mitchells & Butlers left bruised in sell-off
MARKET REPORT Kicked, punched, wounded and swollen since the onset of the credit crunch, the financial markets bore fresh bruises following a violent sell-off yesterday. Mitchells & Butlers was among the afternoon's victims: nervous investors, clinging on to hopes of a deal with the rival publican...
Tags: FTSE, Mitchells & Butlers Plc.
Research articles 2008-03-18
Wolseley plunges as brokers turn bearish
MARKET REPORT Broker downgrades bore down on Wolseley, the FTSE 100-listed building materials manufacturer, which sunk to an intra-day low of 531.5p yesterday. Former house broker ABN Amro was among the bears, revising its recommendation to "sell" from "hold", noting that the company's "balance sheet and...
Tags: ABN AMRO, FTSE, Wolseley Plc.
Research articles 2008-03-14
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