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Sector movers: Construction and aerospace lead advance

Tue, 04th Oct 2016 15:36

(ShareCast News) - Construction and industrial engineering stocks led the way higher, with shares in aerospace and defence close behind thanks to the favourable tailwind from the pound's depreciation. Activity in the UK construction sector bounced back in September, with Markit's purchasing managers' index for activity rising to 52.3 from 49.2 in the month before and after hitting a seven-year low in July.Also giving a boost to sentiment, analysts at Canaccord Genuity and Deutsche Bank cheered CALA Group's record fiscal year 2016 results published on 3 October."While the group has a higher average selling price than many of the volume housebuilders (reflecting its geographic mix and size of product), we nonetheless see it's trends as further positive reinforcement of trading conditions in the sector. Since Brexit, Cala reports it has seen a robust market," analysts at Deutsche Bank told clients.For its part, Canaccord pointed out the "noises" coming from the government suggesting the Autumn statement was likely to be positive in relation to its support for the house-building sector.On a more skeptical note, Samuel Tombs, chief UK economist at Pantheon Macroeconomics, noted that given long lead times for construction projects it was unlikely that the funds earmarked by the Chancellor on the day before for building on public land would provide any support to GDP growth over coming quarters.In parallel, following meetings with the company and some top management analysts at Credit Suisse retained Weir Group as their 'top pick' among the capital goods names with exposure to resources."Weir is trading on 12.7x 2018E EV/EBITA, a 5% premium to UK peers. Our SOTP valuation is £18 but in a blue sky scenario where O&G EBIT recovers to the 2008-15 average our valuation would be £21," analyst at the Swiss broker said in a research note sent to clients.Lastly, aerospace names got a boost from the pound's drop during the session to a fresh 31-year low at 1.2735.UBS estimated that for every ten cent depreciation in the pound's value versus the US dollar Cobham, GKN and Meggitt should see the highest benefit.Top performing sectors so far todayConstruction & Materials 6,540.35 +3.18%Industrial Engineering 10,370.26 +3.08%Aerospace and Defence 4,677.03 +2.92%Industrial Metals & Mining 1,830.88 +2.88%Electronic & Electrical Equipment 5,293.67 +2.48%

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5 Jan 2017 12:38

Thursday broker round-up

(ShareCast News) - Royal Dutch Shell B: UBS reiterates buy with a target price of 2500p. Aviva: JP Morgan reiterates overweight, 553p target. B&M European: HSBC reiterates buy with a 350p target. Breedon: Berenberg reiterates buy with a 85p target. Cobham: JP Morgan keeps at neutral with a 175p t

23 Nov 2016 16:00

Sector movers: Meggitt, Cobham lift defence stocks

(ShareCast News) - Price gains for some key steel-making ingredients such as iron ore and thermal coal as well as in Chinese rebar futures kept pushing shares in Evraz and many of the main mining groups higher. Overnight, spot iron ore prices at Tianjin advanced from $69.0 a tonne to $71.5 a tonne,

23 Nov 2016 14:29

Wednesday broker round-up

(ShareCast News) - Anglo American: UBS reiterates neutral with a target price of 950p. Lloyds: Macquarie reiterates outperform with a 65p target. Intertek: Barclays stays at equal-weight with a 3700p target. Barclays: HSBC reiterates buy with a 190p target. Homeserve: UBS maintains neutral with a

22 Nov 2016 07:51

Cobham Chairman Devaney To Leave, Wareing To Take Over

22 Nov 2016 07:23

Cobham to replace chairman in management shake-up

LONDON, Nov 22 (Reuters) - Britain's Cobham said chairman John Devaney would be replaced by senior independent director Michael Wareing in January, amid management change at the aerospace and defence company after two profit warnings. Cobham's new CEO David Lockwood will start in December a

11 Nov 2016 17:46

Directors dealings: BAE Systems director takes profits

(ShareCast News) - BAE Systems's group director for business development took advantage of a two-day spike in the shares of the aerospace and defence engineer to take some profits. On 10 November, Alan Garwood sold 33,000 shares at an individual price of 605p each, walking off with £199,650. Betwee

11 Nov 2016 15:59

Cobham Confirms New Chief Executive To Start On December 12

31 Oct 2016 16:55

Britain's FTSE slips, though posts fifth straight month of gains

* FTSE 100 down 0.6 pct * Longest monthly run of advances since 2013 * WPP jumps after update * Shire and Next fall ahead of earnings (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livema

31 Oct 2016 10:28

Britain's FTSE slips, though on track for fifth straight month of gains

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.4 pct * Set for fifth month of straight gains * WPP jumps after update By Kit Rees LONDON, Oct 31 (

31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

28 Oct 2016 15:04

UK Dividends Calendar - Next 7 Days

25 Oct 2016 15:12

GRAPHIC-Downgrades, profit warnings ring Brexit alarms for UK mid-caps

* FTSE 250 vs FTSE 100: http://reut.rs/2eCvwk9 * Profit warnings spark broker downgrades * Earnings disappointments lead to outsized moves * Senior, Cobham, Laird among midcaps warning on profits By Kit Rees LONDON, Oct 25 (Reuters) - A spate of profit warnings among

25 Oct 2016 10:10

Tuesday broker round-up

(ShareCast News) - Segro: Barclays keeps at overweight with a target price of 520p. Howden Joinery: Berenberg downgrades to hold, 450p target. Standard Chartered: Deutsche Bank reiterates sell with a 574p target. Cobham: UBS reiterates neutral with a 160p target. Cobham: Barclays reiterates equal

24 Oct 2016 10:57

LONDON MARKET MIDDAY: Stocks Lose Gains As Iraq Complicates OPEC Deal

24 Oct 2016 10:00

UPDATE 2-British defence group Cobham cuts profit forecast again

* 2016 trading profit could be 12 pct lower than consensus * Affected by weak demand for electronics products * Shares fall 17 pct (Adds CFO comment, analyst comment, share price,) By Sarah Young LONDON, Oct 24 (Reuters) - British aerospace and defence company Cobham cut

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