Wednesday 24 February 1999
Glaxo Wellcome's story just gets better, says BT Alex.Brown, which has repeated its buy recommendation (2018p) on the pharmaceutical giant's stock. SG Securities also considers it a buy (2021p), encouraged by the performance in its respiratory and HIV portfolios, while Teather & Greenwood notes that "with one of the most productive pipelines, double-digit earnings from 1999 are achievable".
Sutherlands has upgraded Ulster Television (220p) from reduce to hold after the Northern Ireland franchise holder reported a rise in profits on Monday, boosted by the sale of a sixth of its stake in Societe Europeenne des Satillites, and announced a 35p special dividend.
Full-year results from Halifax last week and news of pounds 1.5bn return of capital in June pleased analysts, with Teather & Greenwood upgrading the stock from sell to hold, and Merrill Lynch moving from neutral to buy for the long-term. BT Alex.Brown, held its recommendation on the shares at underperform (780p).
Merrill Lynch has downgraded property developer Slough Estates (325p) to neutral, citing a longer-term concern over its overseas developments. Slough's 44 per cent exposure to offices and industrials in the Thames Valley area should be defensive, Merrill adds.
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Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
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