News & Reports

Broker tips: Kingfisher, St James's Place, Halfords

Thu 23rd May 13, 10:51

Benjamin Chiou

The recent rally in Kingfisher's share price was paused on Thursday morning after Nomura downgraded its rating on the stock from 'neutral' to 'reduce', saying that shares in the B&Q owner have travelled too far given the tough times ahead.

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Today's Market Reports

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Broker snap: Investec upbeat about turnaround plan at Halfords

Investec has recommended investors to 'buy' on share-price weakness at Halfords after the car- and bike-parts retailer announced a turnaround plan to boost growth in the future. 31 minutes ago

Spain sees borrowing costs tick higher at bond auction

The Spanish Treasury has returned to the sovereign debt market and found that its borrowing costs have ticked higher on lower demand for the first time since early February. 52 minutes ago

Mitchells & Butlers profits rise on cost savings

Mitchells & Butlers saw half year pre-tax profits rise 71.4 per cent as the UK operator of pubs, bars and restaurants delivered cost savings following a major restructuring. 1 hour ago

Broker snap: Panmure upbeat about St James's Place after Lloyds sale

Shares in St James's Place (SJP) fell sharply on Thursday morning after Lloyds placed 77m shares in the wealth manager, but Panmure Gordon kept its 'buy' rating for the stock saying it still remains its top pick for 2013. 1 hour ago

IP Group unveils new venture capital fund

IP Group, the developer of intellectual property-based businesses, has established a 30m-pound venture capital fund, IP Venture Fund II, in partnership with the European Investment Fund (the EIF). 1 hour ago

Halfords Group unveils turnaround plan as profits fall

UK automotive products retailer Halfords Group announced a strategy to improve its sales after reporting flat full-year revenues and a fall in profit. 2 hours ago

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Traders' views

As with most currencies...”it’s all about Bernanke!”

By Ishaq Siddiqi

Earlier this week we heard from the Reserve Bank of Australia and the minutes of their meeting, which generally confirmed what most had suspected: that the strength of AUD was a pivotal factor in what was an otherwise close decision to cut interest rates.

The all-important policy guidance at the end of the minutes reveals that the RBA opted to use “some” (the “some” comment is a repeat from a couple of weeks ago) of the scope afforded by the low first quarter inflation figures and outlook, to lower the cash rate. 

Are the Equity markets too confident to ignore geo-political risk and war?

By Ronnie Chopra

The markets seem to be extending their highs in recent days with no concern about the continuing threat of war in the Middle East.

This morning, news that Israeli and Syrian forces have exchanged fire across the ceasefire line in the occupied Golan Heights was largely ignored by the financial markets. 

Sharp fall in silver today – fallen to levels not seen since September 2010

By Ronnie Chopra

This morning silver fell to levels not seen since September 2010 as commodity prices slumped overnight in Asia and this extended in early London trading. Although here is plenty of physical buying from China, India and the Middle East – there is heavy computer ETF selling.

A strong dollar and outperforming equity markets have shifted investor’s attention to more risky assets with silver suffering.

Has the dollar rallied too far, too quickly?

By Ishaq Siddiqi

Despite general US data thus far this week coming in a little softer, the dollar retains a bid tone, as US risk markets keep on posting new highs despite much speculation on whether USD may have rallied a little too far, too quickly.

Today we await CPI numbers and US data including housing, jobless claims and the Philly Fed.)

Will the yen fall again?

By Zoe Fiddes

The depreciation of the Japanese yen has been an ongoing process for many months now, and recent developments have contributed to its continued decline. However, upcoming data might change the direction upwards.

Japan’s currency is once more weakening compared to the US dollar. 

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