Kerry Group 'A' Shares (KYGA)

Sector:

Food

  107.40
   
  • Change Today:
     -0.90
  • 52 Week High:  125.6
  • 52 Week Low:  92.5
  • Currency: Euro
  • Shares Issued: 176.70m
  • Volume: 4,724
  • Market Cap:  18,977m
  • RiskGrade: 89

London mid-morning: Financials stuck in reverse

Date: Tuesday 24 Feb 2009

  • Market Movers
  • techMARK 1,134.30 -1.44%
  • FTSE 100 3,805.17 -1.18%
  • FTSE 250 5,720.87 -3.35%

LONDON (ShareCast) - Fallers outnumber risers by four to one among Footsie constituents as yesterday afternoon’s late swoon is continued. On the bright side, the scale of the fall by the UK’s benchmark index is not anywhere near as bad as the dive performed by the Dow Jones on Wall Street yesterday or, indeed, the Hang Seng index in Hong Kong overnight.

Yesterday’s big losses on Wall Street have undermined support for hedge fund manager Man Group, which is the morning’s biggest faller, while fund manager Schroders also encounters selling pressure.

Engineering group Invensys is sharply lower after US bank Morgan Stanley initiated coverage of the stock with an “underweight” recommendation and a 135p price target on expectations of “significant cuts to capital expenditure for the oil and gas sector” which will sap demand for Invensys’s products.

Private equity group 3i continues to be weighed down by yesterday’s credit downgrade from ratings agency Standard & Poor’s.

Royal Bank of Scotland is this morning’s best performer, but Lloyds Banking has given up early gains and is sharply lower. According to the FT, the government is prepared to swap the £4bn of Lloyds preference shares into a different type of non-interest bearing equity. This would remove Lloyds’ obligation to pay the £480m annual interest bill on the preference shares issued to the government. In return, Lloyds would be expected to boost mortgage and small business lending, reports today suggest.

The defensive appeal of pharmaceuticals is once again evident, with AstraZeneca, Shire and GlaxoSmithkline featuring prominently among the small band of risers. Astra rises despite its partner, MAP Pharmaceuticals, disclosing that its initial Phase III clinical trial of Unit Dose Budesonide (UDB) for the potential treatment of children with asthma did not meet its co-primary endpoints.

Housebuilder Redrow said it swung to a half-year pre-tax loss, blaming a sharp drop in the availability of mortgage finance. Pre-tax losses came to £46.2m in the six month ended 31 December compared with a profit of £35.8m in the first half.

Platinum miner Lonmin said it has reached agreement with unions regarding restructuring at its Marikana and Limpopo operations in South Africa, which will result in around 5,5500 job cuts.

Wealth manager and HBOS subsidiary St James’s Place held its final dividend despite a fall in assets under management and profits also slipping last year. On an embedded value, operating profits for 2008 fell to £204.3m, from £244.7m, new business profits fell to £123.5m (2007: £150.9m), while net assets dropped to 232p from 252p.

Trading is becoming tougher for Carr's Milling compared with last year when it upped its profit forecast by five times. The 26 weeks to 28 February 2009 are expected to be broadly similar to the first half of last year (when a pre-tax profit of £5.2m was reported on revenue of £161.9m) Carr's said, adding that conditions became more difficult in the later weeks of the period.

Construction firm Morgan Sindall delivered a record result for the year, in line with expectations, as strong public sector demand in education and healthcare offset the weak commercial property sector. The group however said it expects 2009 to remain challenging as the construction and regeneration markets continue to be affected by the general economic downturn.

Data management specialist SDL revealed a 54% increase in pre-tax profit, ahead of forecasts, but is cautious for 2009.

Ingredients & flavours firm Kerry Group said it achieved good organic revenue and margin growth for the year despite tough cost pressures. The group also said it is confident of delivering earnings growth in 2009 to a range of 160 to 165 cent per share.

Emerging markets fund manager Ashmore said assets under management in the six months to 31 December 2008 fell 34% to $24.6bn as volatile markets continue.

Dana Petroleum announced the discovery of an “excellent” new oil field, with its well at the South East Rinnes structure in Block 210/24a in the UK Northern North Sea. The shares also get a fillip from Morgan Stanley, which has upgraded the stock from “equal weight” to “overweight” while keeping its price target unchanged at 1140p. Meanwhile, broker Jeffries has initiated coverage on the oil company with a “hold” recommendation and a price target of 1000p.

Chromium producer Elementis sheds around one-fifth of its value after it fell into the red after it revealed a slump into losses for the year due to higher distribution and admin costs.

Communications technology firm Spirent saw profits jump for the year as its performance improved in each quarter throughout 2008 due to increased manufacturing efficiency and the delivery of new products.

Spectris takes a tumble after the instrumentation and controls company posted a decline in “as reported” pre-tax profit for 2008 at £106.1m, versus £118.1m in 2007.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KYGA Market Data

Currency Euro
Share Price   107.40
Change Today   -0.90
% Change -0.83 %
52 Week High  125.6
52 Week Low  92.5
Volume 4,724
Shares Issued 176.70m
Market Cap  18,977m
RiskGrade 89

KYGA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.29% below the market average94.29% below the market average94.29% below the market average94.29% below the market average94.29% below the market average
93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average93.1% below the sector average
Price Trend
50.84% above the market average50.84% above the market average50.84% above the market average50.84% above the market average50.84% above the market average
72.41% above the sector average72.41% above the sector average72.41% above the sector average72.41% above the sector average72.41% above the sector average
Income
88.48% below the market average88.48% below the market average88.48% below the market average88.48% below the market average88.48% below the market average
88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average
Growth
67.03% below the market average67.03% below the market average67.03% below the market average67.03% below the market average67.03% below the market average
17.24% above the sector average17.24% above the sector average17.24% above the sector average17.24% above the sector average17.24% above the sector average

What The Brokers Say

Strong Buy 10
Buy 1
Neutral 2
Sell 0
Strong Sell 1
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

KYGA Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Oct-20 16-Apr-20
Paid 13-Nov-20 15-May-20
Amount 25.90¢ 55.10¢

Trades for 26-Oct-2020

Time Volume / Share Price
12:06 182 @  107.40
12:02 114 @  107.40
11:47 8 @  107.40
11:47 8 @  107.40
11:47 11 @  107.40

KYGA Key Personnel

Chair Philip Toomey
CEO Edmond Scanlon
CFO Marguerite Larkin

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