Advertisement
UK markets closed

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     

  • AIM

    771.53
    +3.42 (+0.45%)
     

  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     

  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     

  • Bitcoin GBP

    50,453.56
    +400.81 (+0.80%)
     

  • CMC Crypto 200

    1,315.55
    +38.58 (+3.03%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     

  • DAX

    18,001.60
    +105.10 (+0.59%)
     

  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     
MONEY:

Best savings accounts that offer above inflation rates

Where to find a top-rated deal that works for you

BUZZ-Top of the Street: European Oil & Refining, BBVA, Fortum, QinetiQ

Reuters - UK Focus

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** European Oil&Refining: Kepler Cheuvreux says the sector is set to generate material FCF and deserves higher valuation multiples and Barclays (LSE: BARC.L - news) expects most of the energy sector cos to cash break-even in Q3

Kepler Cheuvreux lifts Repsol (Amsterdam: RP6.AS - news) to "buy" due to higher oil price and the better outlook for the Downstream business

Kepler Cheuvreux also raises Total (LSE: 524773.L - news) and Shell (LSE: RDSB.L - news) to "buy"

5-star Barclays raises Finnish petroleum producer Neste (LSE: 0O46.L - news) 's stock to "equal-weight" noticing co's outlook has improved and co will benefit from very high refining margins

ADVERTISEMENT

** Kepler Cheuvreux upgrades BBVA (LSE: 931474.L - news) to "hold" seeing potential improvement in capital and valuation on the mooted sale of its Chile (Stuttgart: 704599.SG - news) division

** Macquarie raises Finnish energy company Fortum (EUREX: 899736.EX - news) to "outperform" from "neutral" seeing Uniper (Swiss: UNIPE.SW - news) transaction very positively and the start of a new EPS and rating upgrade cycle for Fortum (LSE: 0HAH.L - news)

** Top-rated broker JPMorgan (LSE: JPIU.L - news) upgrades defence and aerospace manufacturer QinetiQ to "overweight" from "neutral" expecting a positive response from investors to its Q2 trading update published on Friday which confirms a recovery in order intake in EMEA services

INITIATIONS AND REINSTATEMENTS

** Societe Generale (Swiss: 519928.SW - news) starts coverage of BPER Banca with "buy" rating. Broker says the planned de-risking exercise should greatly improve profitability

(*Analyst rankings from Thomson Reuters StarMine. Scale is from 1-star to 5-star with 5 being best. Analysts ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods)