Meth labs and misogynistic ad men make good business for Entertainment One. The TV and film distributor, which is set to move up to the FTSE 250 later this month, today signed an exclusive multi-year distribution deal with US TV network AMC.
The deal gives Entertainment One international distribution rights for all original scripted series produced by AMC, whose shows include Breaking Bad and Mad Men, pictured. Entertainment One rose 1p to 219p.
Despite unease in some quarters over the Government’s efforts to boost the property market, HSBC thinks it’s time to pile into the housebuilders. The bank today raised its target price on no fewer than eight builders, saying shares “undervalue structurally higher sector-wide returns, with added growth opportunity for smaller listed builders”. Persimmon was the biggest winner from the note, climbing 24p to 1135p.
Marks & Spencer was also given a boost by HSBC ahead of its make-or-break winter womenswear range. Big retailers are set to benefit from improving economic conditions, but Paul Rossington at the bank notes: “Some will rise more than others.” He thinks M&S could be among them, and upgraded the retailer to overweight from neutral. Marks & Spencer shot up 15.4p to 494.25p.
It’s time to cosy up to InterContinental Hotels Group, according to UBS. Scribblers at the bank upgraded the company from neutral to Buy, saying shares are at present attractively priced and the hotel owner rocketed to the top of the index, up 39p to 1875p.
What a difference a day makes — yesterday easyJet was among the stragglers on the top-flight index, hit by a profit warning from its normally bullish rival Ryanair. But today easyJet took off after revealing passenger numbers were up 3.9% in August. The budget airline rose 15p to 1230.5p.
Microchip designer ARM Holdings made gains after Samsung unveiled its new Galaxy Gear smartwatch yesterday. With Google and Apple tipped to follow Samsung into the wearable technology fray, industry watchers are proclaiming that the era of the smartwatch has officially “arrived”. ARM, whose chips are used in smartphones and tablets, stands to benefit, and the Cambridge-based firm gained 15p to 890p.
Despite a raft of good economic numbers from here and beyond in the past few days, traders were still cautious as uncertainty over Syria continued to hang over the markets. The Footsie was up 8.99 points at 6483.73.
On AIM, Magnolia Petroleum’s shares climbed after the US oil and gas firm announced four new wells in Oklahoma. The news brings the company’s total number to 174, one short of its year-end target of 175. Magnolia pumped up 0.125p to 2.55p.
