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Ladbrokes and William Hill drop on Credit Suisse downgrades; regulatory headwinds cited

Tue, 14th Jul 2015 10:24

(ShareCast News) - London-listed bookmakers Ladbrokes and William Hill were feeling the pinch in early trade after downgrades by Credit Suisse.The bank cut its stance on Ladbrokes to 'underperform' from 'neutral' and reduced the target price to 85p from 115p. At the same time, it downgraded William Hill to 'neutral' from 'outperform' and cut the target to 420p from 455p."Between 2012 and 2015, changes in regulation in the UK have led to earnings downgrades of 28% for William Hill and 46% for Ladbrokes in 2015E. Despite this, consensus forecasts assume no further regulatory change," said CS.As far as regulator change is concerned, it reckoned headwinds are likely to continue in the medium term."We see future regulatory risk across the board, although regulatory headwinds in UK retail are likely to have a larger negative impact than those in the online business."It was a slightly cheerier picture for Paddy Power, as the bank lifted its price target to €85 from €82 owing to the inclusion of a share buyback, and kept the stock at 'outperform'."We see scope for Paddy Power to return over 30% of its market cap to shareholders by 2020," said CS.At 0936 BST, Ladbrokes shares were down 1.5% at 128.20p and William Hill was 2% weaker at 390.89p.
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20 May 2016 09:35

WINNERS & LOSERS SUMMARY: Market Shrugs Off Ladbrokes Merger Remedies

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20 May 2016 08:47

REFILE-Britain's FTSE led higher by Coca-Cola HBC and miners

(Refiles to fix spelling in headline) * FTSE 100 up 1.5 pct * Coco-Cola HBC rises after upgrade * Miners up as metals prices firm * Ladbrokes gains after competition regulator decision By Kit Rees LONDON, May 20 (Reuters) - UK shares rose on Friday, set for the

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20 May 2016 07:57

EXTRA: Ladbrokes-Coral May Be Required To Sell 400 Betting Shops

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20 May 2016 07:32

LONDON MARKET OPEN: Resource Stocks Lead Rebound As Oil Price Recovers

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20 May 2016 07:31

London pre-open: Stocks set to rebound from Fed-fuelled losses

(ShareCast News) - London stocks were expected to open in the black on Friday, bouncing back from the Fed-fuelled losses of the previous session. The FTSE 100 was seen starting 57 points higher than Thursday's close at 6,110. "While US markets did finish the day lower yesterday they did at least ma

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20 May 2016 07:26

LONDON BRIEFING: Ladrokes Rises As Gala Coral Merger Nears Approval

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20 May 2016 07:12

Market relieved by provisional CMA Ladbrokes-Coral findings

(ShareCast News) - Investors were seemingly pleased with the provisional findings of the Competition and Markets Authority into the merger between bookmakers Ladbrokes and Gala Coral, with a smaller number of outlets needed to be sold than anticipated. Shares in Ladbrokes were surging in morning tra

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20 May 2016 06:29

TOP NEWS: Ladbrokes-Coral May Be Required To Sell 400 Betting Shops

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20 May 2016 06:22

Ladbrokes, Coral need to sell shops to win deal clearance - CMA

LONDON, May 20 (Reuters) - Bookmakers Ladbrokes and Gala Coral will have to sell between 350 and 400 shops to win clearance for their merger, the British competition regulator said on Friday. In the provisional findings of a review of the deal, the Competition and Markets Authority said a t

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16 May 2016 06:39

Monday newspaper round-up: Ladbrokes-Coral, BHS, G4S, Sky

(ShareCast News) - The merger between Ladbrokes and Coral could be blocked, analysts have suggested, citing the blocking last week of the proposed merger between O2 and Three by Europe's competition commission on the ground that it would have cut the number of big players from four to three, an argu

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15 May 2016 17:01

Sunday newspaper round-up: RBS, Shell, Cobham, BT, banks

(ShareCast News) - Royal Bank of Scotland is examining a range of radical options to help speed the long-delayed separation and flotation of its Williams & Glyn subsidiary, including a potential divestment of its NatWest brand. Banking sources have indicated to the Sunday Telegraph that RBS and its

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5 May 2016 13:36

42% Of Ladbrokes Shareholders Vote Against Directors' Remuneration

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28 Apr 2016 11:28

DIRECTOR DEALINGS: Ladbrokes UK Retail Managing Director Sells Shares

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21 Apr 2016 07:41

LONDON MARKET OPEN: FTSE 100 Flat As Ex-Dividends Offset Oil Rally

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