Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1675
    +0.0019 (+0.16%)
     

  • GBP/USD

    1.2490
    -0.0021 (-0.17%)
     

  • Bitcoin GBP

    50,897.85
    -912.21 (-1.76%)
     

  • CMC Crypto 200

    1,325.76
    -70.78 (-5.07%)
     

  • S&P 500

    5,110.42
    +62.00 (+1.23%)
     

  • DOW

    38,304.27
    +218.47 (+0.57%)
     

  • CRUDE OIL

    83.85
    +0.28 (+0.34%)
     

  • GOLD FUTURES

    2,344.80
    +2.30 (+0.10%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

STOCKS NEWS EUROPE-Lanxess drops on bearish JP Morgan comments

Reuters - UK Focus

Shares in synthetic rubber maker Lanxess (Other OTC: LNXSF - news) decline 3 percent to the bottom of Germany's blue-chip index as traders point to JP Morgan (Other OTC: JPYYL - news) slashing its price target on the stock by almost a quarter.

"Market hopes of a cyclical recovery in 2014 are overstated," JP Morgan analyst Martin Evans writes in a note. "We expect new market entrants in key value chains to continue to reduce Lanxess' pricing power and market share."

The brokerage cuts its price target to 28 euros per share from 37 euros, well below the 47 euros the stock is trading at, and reiterates its "underweight" recommendation.

Reuters messaging rm://ludwig.burger.thomsonreuters.com@reuters.net