11 Jan 2016 13:46
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Don't have an account? Click here to register.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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7 Jan 2016 10:49
Thursday newspaper share tips: Falling oil prices threaten BHP Billiton's strategy
(ShareCast News) - Falling oil prices are threatening BHP Billiton's strategy to diversify into oil and gas, The Telegraph's Questor wrote on Thursday. Oil prices have been plummeting amid geopolitical flare-ups in the Middle East and oversupply concerns continuing to dominate market sentiment. Que
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11 Dec 2015 07:21
Ladbrokes announces acting CFO to cover ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed Richard Snow as acting chief financial officer. The FTSE 250 company announced in September that Ian Bull who currently holds the post, will leave the company in February. Snow, who is director of investor relations, will hold the post until the proposed m
Read more11 Dec 2015 07:12
London pre-open: Stocks seen lower on negative Asian cues
(ShareCast News) - London stocks are called to open lower on Friday, taking their cue from a downbeat session in Asia. Shares in China and Hong Kong slid as the yuan hit its lowest level in four years. The FTSE 100 is expected to open 21 points lower than Thursday's close at 6,067. On the data fro
Read more10 Dec 2015 15:43
Ladbrokes' new chair and director bet on company
(ShareCast News) - Ladbrokes' new chariman and newest board member are already giving their financial backing to the company. John Kelly was appointed chairman of the company at the beginning of December, replacing Peter Erskine who announced his intention to step down in May. He will also become c
Read more4 Dec 2015 07:43
Ladbrokes appoints John Kelly as chairman ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed John Kelly as the bookmaker's new chairman with immediate effect following the departure of Peter Erskine and ahead of the proposed merger with Coral Group. The appointment follows the announcement in May that Erskine intended to step down from the board th
Read more30 Nov 2015 08:23
Gala Coral revenue up ahead of Ladbrokes merger
(ShareCast News) - Gala Coral Group's full year revenue is up ahead of the proposed merger with Ladbrokes. The betting company released its full year results to 26 September 2015 on Monday. It showed a 6% increase in net revenue to just over £1bn, despite 2014 figures including the impact of the FI
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