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CFD Traders DiaryBA shareholders await strike news29/1/2007
It
has been a quiet start to the week, with the FTSE 100 trading just above parity
so far. British
Airways has followed up the recovery seen on Friday, although there is
as yet no outcome to strike talks, and today broker UBS repeated its 'buy' advice
lifting its price target to 650p from 600p.
The steadying oil price has also supported BP and Shell with the ongoing
cold snap in the US and growing political
tensions in Iran and Nigeria. Miners are a little better, with Lonmin top
of the tree and up 1% mid-morning. Yell also gapped up after Merrill
Lynch upgraded the firm to 'buy' from 'neutral' with a price target of 670p on
valuation grounds. On the downside, British
Telecom and Vodafone were marked down early on as European telecoms suffered
after Deutsche Telekom issued its second profit warning in six months. SAB Miller is down around 1%
following a downgrade from Goldman Sachs.
Greene King announced a good
Christmas trading statement with sales up to expectations. In Scotland, and after the pub
smoking ban, Belhaven retail sales were 2.8% below last year, which remains
better than estimates at the time of the acquisition. Cairn
Energy said it is confident of finding a solution with the Indian
government for the integration and control of its midstream operations. Hornby
reported that Christmas sales were encouraging after a period of slow sales in
the UK during the summer of
2006, and it expects to report a satisfactory trading result for the current
financial year. Filtronic reported a reduction in interim operating losses from
its ongoing businesses, and the company intends to make a £10m return of cash from
the proceeds of that sale to shareholders by end of March.
Pharmacy chain Alliance Boots
has agreed to form a 50:50 joint venture in China with Guangzhou Pharmaceuticals
Corp. GP Corp is the third largest
pharmaceutical wholesaler in China with a 3% market share
and a 16% market share in its home province of Guangdong.
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