Hints and tips:
...Trafigura CEO Jeremy Weir said 2022 “has potential to be a significant year again”, forecasting “slightly higher gross margins this year”....
...Weir pulls 2020 targets given on February 26, saying March has deteriorated rapidly....
...; Salzgitter cut to “underperform” at Jefferies; Tate & Lyle rated new “neutral” at Merrill Lynch; Voestalpine cut to “hold” at Jefferies....
...● JPMorgan Cazenove downgraded Weir Group from “overweight” to “neutral”, with a £15-a-share price target....
...And here’s Jefferies: Pernod’s COVID cut enough? China accounts for c.10% of profits, including travel retail we estimate mid-teens of profits....
...The second part was to deliver growth” said Ahmed Farman, an analyst at Jefferies. “They’re half way through . . . We still have the second part of the strategy to come through,” Mr Farman said....
...The broker also upgraded Weir and DormaKaba , the former on its exposure to mining and the latter on valuation grounds, and repeated “buy” advice on ABB. Schneider and IMI were both downgraded to “hold”...
...Here’s Christopher Wood of Jefferies, author of the excellent Greed and Fear newsletter, to take a step back. Oil now looks set to re-test the 2016 low of US$27.1/bbl ......
...Jefferies repeated “buy” advice on Thomas Cook....
...Sellside stories ● Jefferies started coverage of LVMH with “buy” advice and a €340 price target....
...Customers of Centrica’s British Gas would see bills fall by £70 a year on average, said Jefferies....
...To help fund the Esco purchase, Weir also launched a placing of shares equivalent to 7.4 per cent of its market capitalisation....
...being acquired, Cigna coming in as the acquirer was unexpected, though we would note that this transaction is yet another proof of ongoing vertical integration of healthcare providers and payers,” said Jefferies...
...” ● In brief: TalkTalk cut to “hold” at HSBC — Weir, Oxford Instruments and Rotork raised to “hold” at Jefferies — Investec upgrades Jardine Lloyd Thompson to “buy” — Numis raises Morgan Sindall to “buy...
...White & Case, a law firm, has hired Mike Weir as a new partner in London as part of its private equity group and M&A practice. Weir joins White & Case from Jones Day....
...Andy Douglas, analyst at Jefferies, said there had been “good strategic progress and efficiency improvements” at the company, while annual earnings slightly beat market expectations....
...acquires Singapore-based oil business (FT) Stanley Gibbons invites suitors amid bid confusion (FT) Oil and gas explorer Penn Virginia taps Jefferies for sale (Reuters) Follow the FT’s deals team Arash...
...They want to be well-positioned when they come out of the current downturn,” says Andy Douglas, analyst at Jefferies....
...Weir’s raised cost-saving targets are still not enough to counter the headwinds facing its oil and mining businesses, it said....
...Rob Virdee, analyst at Jefferies, said the results were broadly in line with the brokerage’s estimates....
...Pumpmaker Weir Group rose 2.4 per cent to £20.24....
...Amid renewed fears about mining capital expenditure Weir, the pumpmaker, lost 3.1 per cent to £16.66....
...“Babcock has a record order, unchanged bid pipeline and continues to operate in robust markets,” said analysts at Jefferies, which reiterated a buy rating on the stock....
...Oilfield services engineer Weir Group fell 4 per cent to £18.08, the biggest single fall. Tullow Oil was down 3.5 per cent at 399.8p....
...Back on the FTSE 100, Weir Group, the oilfield services provider, rose 0.8 per cent to £17.92. The pattern was similar across Europe, Total, the French oil major gained 1.1 per cent to €48.12....
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