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London close: UK stocks subdued on US Thanksgiving as resources in focus

Thu, 24th Nov 2016 16:41

(ShareCast News) - UK stocks were in cautious form all day Thursday, with global markets generally subdued as traders in the US put their feet up for a Thanksgiving break.The FTSE 100 closed up 0.17% to 6,829.20. The FTSE 250 ended the session down 0.18% to 17,590.62.On the blue-chip upside, several mining and pharma stocks featured, while to the downside the story was written around US rates-sensitive utilities, banks and property.Oil majors were broadly flat, with investors looking to OPEC's meeting on 30 November in Vienna with a hope the cartel will introduce a production cap. This saw crude trade sideways.At about 16:28 GMT, West Texas Intermediate was up 0.06% to $47.99 a barrel, while Brent was up 0.02% to $48.96 a barrel.Jasper Lawler, market analyst at CMC Markets, said the thinner trading volumes on Thanksgiving meant there was minimal movement across European stock markets. "UK equities under-performed those in mainland Europe, which were slightly higher as German GDP data fell in the third quarter in line with expectations," he said.Lawler added that there were some some signs European institutions were waking up to rising populism in their midst."The ECB used its Financial Stability Review to issue a warning on increasing political uncertainty," he said, noting the FTSE 100 was stuttering around the 6800 level.Meantime, lawmakers in the European Parliament have voted to adopt a non-binding motion to freeze Turkey's accession to the EU, after a government crackdown on dissent following the failed coup in the country earlier this year.Chris Beauchamp, chief market analyst at IG, opined that the FTSE was in a holding pattern throughout Thursday, this due to the absence of cue from the US."Strength in metals prices has once again done wonders for the mining sector, with copper having staged a remarkable rebound from an equally remarkable selloff earlier in November," he said."The entire afternoon has had a sense of children playing about without adult supervision, with this especially clear in currency markets."In corporate news, Legal & General firmed on the sale of its Netherlands business to London-listed pensions firm Chesnara for €160m.Water company Severn Trent rose as it posted a 10.8% jump in interim profits before interest and tax to £299.4m.Rio Tinto nudged up after chief executive Jean-Sebastien Jacques said the mining giant can boost cash flow by $5m over the next five years by a new "productivity drive".Shares in Domino's Pizza advanced after it increased its long-term target for expanding its UK store presence and reiterated its guidance for 2016 pre-tax profit.Pub-operator Marston's advanced as it said pre-tax profit and revenue for the year to 1 October grew.On the downside, Countrywide tumbled as it issued its second profit warning this year, saying core earnings for 2016 would take a hit as a result of the UK's vote to quit the EU. The stock fell sharply Wednesday after the Autumn Statement clampdown on estate agent lettings fees.Pets at Home fell despite reporting a rise in first-half pre-tax profit and revenues and lifting its interim dividend.HSS Hire was sharply lower as it said it now expects earnings before interest, taxes and amortisation for the year to be above the prior year but below market views.Market MoversFTSE 100 (UKX) 6,829.20 0.17%FTSE 250 (MCX) 17,590.62 -0.18%techMARK (TASX) 3,294.36 0.52%FTSE 100 - RisersDirect Line Insurance Group (DLG) 358.30p 2.84%Antofagasta (ANTO) 720.00p 2.57%Ashtead Group (AHT) 1,496.00p 2.47%CRH (CRH) 2,706.00p 2.15%InterContinental Hotels Group (IHG) 3,308.00p 1.78%Merlin Entertainments (MERL) 437.90p 1.77%Anglo American (AAL) 1,254.00p 1.33%Intertek Group (ITRK) 3,221.00p 1.29%Polymetal International (POLY) 750.50p 1.28%3i Group (III) 674.00p 1.28%FTSE 100 - FallersNational Grid (NG.) 909.90p -2.34%easyJet (EZJ) 1,022.00p -2.29%International Consolidated Airlines Group SA (CDI) (IAG) 440.50p -2.24%DCC (DCC) 6,200.00p -1.98%Travis Perkins (TPK) 1,401.00p -1.62%Babcock International Group (BAB) 943.50p -1.31%Johnson Matthey (JMAT) 3,185.00p -1.21%Mediclinic International (MDC) 724.00p -1.16%Severn Trent (SVT) 2,209.00p -1.07%Persimmon (PSN) 1,729.00p -0.97%FTSE 250 - RisersDomino's Pizza Group (DOM) 340.50p 3.21%Cobham (COB) 168.00p 3.19%Mitie Group (MTO) 207.90p 3.18%Marshalls (MSLH) 298.00p 2.87%Thomas Cook Group (TCG) 80.90p 2.41%Tullett Prebon (TLPR) 430.00p 2.14%ICAP (IAP) 490.50p 2.02%Daejan Holdings (DJAN) 5,850.00p 1.83%Halma (HLMA) 973.50p 1.78%Big Yellow Group (BYG) 665.00p 1.76%FTSE 250 - FallersCountrywide (CWD) 169.50p -12.58%UDG Healthcare Public Limited Company (UDG) 614.50p -6.68%Paragon Group Of Companies (PAG) 346.50p -6.48%Pets at Home Group (PETS) 222.70p -4.71%Euromoney Institutional Investor (ERM) 1,014.00p -4.38%TalkTalk Telecom Group (TALK) 155.40p -4.07%Evraz (EVR) 259.60p -4.06%Mitchells & Butlers (MAB) 246.10p -3.98%Restaurant Group (RTN) 343.60p -3.94%FirstGroup (FGP) 102.90p -3.74%
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25 Oct 2016 08:52

Countrywide slumps on Jefferies downgrade

(ShareCast News) - Countrywide was under the cosh on Tuesday as Jefferies downgraded the stock to 'hold' from 'buy' and slashed the price target to 180p from 300p. The bank cut its calendar year 2016 earnings per share estimate by 24% and its estimate for 2017 by 31% on the back of weak housing t

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22 Sep 2016 14:14

Countrywide shares drop on Zoopla stake sale

(ShareCast News) - Shares in Countrywide fell on Thursday after the FTSE 250 estate agency group said it has sold its remaining stake in property website Zoopla. It sold just over 9.2m shares at an average price of £3.17 between 9 August and 21 September, giving gross proceeds of £29.2m. Countrywid

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22 Sep 2016 13:35

Thursday broker round-up

(ShareCast News) - Dunelm: HSBC starts coverage at buy with a target price of 1000p. Brown N Group: UBS keeps at neutral, 190p target. Tesco: Barclays keeps at neutral with a 215p target. Associated British Foods: Credit Suisse reiterates outperform with a 3550p target. BBA Aviation: Barclays kee

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6 Sep 2016 10:07

Tuesday broker round-up

(ShareCast News) - Marks & Spencer: Goldman Sachs reiterates sell with a target price of 315p. Bunzl: RBC maintains underperf orm with a 1950p target. Mediclinic: UBS keeps at buy with a 1170p target. Ultra Electronic: Berenberg reiterat es buy with a 2000p target. Associated British Foods: Goldm

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23 Aug 2016 14:32

FTSE 250 movers: JRP Group, housing stocks rally

(ShareCast News) - The FTSE 250 gained 0.78% to 18,010.36 points on Tuesday afternoon. JRP Group was the biggest riser on London's second tier index after the financial services group said trading to the end of July since its update on 11 May continued in line with expectations. The company said it

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28 Jul 2016 13:34

Broker tips: Cairn Energy, Lancashire, Countrywide

(ShareCast News) - Cairn Energy shares rose on Thursday as RBC Capital Markets raised its rating on the stock to 'outperform' from 'sector perform' and reiterated a target price of 260p. "We view the recent share price weakness as an opportunity to take a position in Cairn ahead of the first half re

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28 Jul 2016 10:48

Numis upgrades Countrywide to 'add' from 'hold'

(ShareCast News) - Countrywide's shares jumped on Thursday as Numis upgraded its rating to 'add' from 'hold' despite a profit warning from the real estate agent. The company warned that 2016 earnings will be lower this year, as commercial and London residential transactions have stalled since Britai

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28 Jul 2016 10:08

Countrywide rebounds despite interim profit squeeze post-Brexit

(ShareCast News) - Countrywide said the slowdown in the housing market has worsened since June's Brexit vote, sending half-year profits in the estate agent shooting down but lifting its shares as investors had feared it would be even worse. Directors warned that full year earnings before interest, t

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21 Jul 2016 15:03

UK Earnings, Trading Statements Calendar - Next 7 Days

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13 Jul 2016 09:21

UBS launches coverage of UK estate agents

(ShareCast News) - UBS initiated coverage of the UK estate agent sector on Wednesday, with Foxtons and Savills at 'buy', Countrywide at 'neutral' and Purplebricks at 'sell'. The Swiss bank, which expects UK wide housing transactions to fall 6% this year and 5% the next - with a 10 drop in London in

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13 Jul 2016 08:33

BROKER RATINGS SUMMARY: UBS Says Buy Foxtons And Sell Purplebricks

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13 Jul 2016 07:25

LONDON BRIEFING: Pound And Poundland Gain As May Set To Enter No 10

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29 Jun 2016 14:39

UPDATE: BROKER RATINGS SUMMARY: Buy Wolseley, Sell Berkeley - Goldman

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28 Jun 2016 16:16

Tuesday broker round-up:

(ShareCast News) - Just Eat: Goldman Sachs reiterates buy with a target price of 670p. G4S: Credit Suisse keeps at outperform with a 210p target. Bellway: Goldman Sachs keeps at neutral with a target price of 1715p. Northgate: Numis reiterates to buy with a target of 500p. Babcock: Credit Suisse

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28 Jun 2016 09:24

Goldman adjusts ratings on UK housebuilders after Brexit

(ShareCast News) - Following the UK's decision to leave the European Union, Goldman Sachs expects new build volumes in UK housing to drop 10% next year, versus a previous forecast of 7% growth and house prices to fall by 2%/5% in 2016/17. As far as the UK economy is concerned, the bank has cut its 2

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