BS struck by sterling
Article Abstract:
British Steel has been affected by probelms with economic recovery in Europe and investors are also concerned about a rise in the value of pound sterling. A strong pound affects the company's exports as well as reducing the cost of imports. Two brokers from a sample of six rate the company's shares a buy, three rate the shares a hold and one rates the shares a sell. The buyers are Salomon Brothers and UBS, British Steel's house broker. The holders include Merrill Lynch and BZW, while Panmure Gordon is the seller.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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BS: two pro and four anti
Article Abstract:
British Steel (BS) should report a record profit for the year to Mar 1996, but the company's profit is likely to fall thereafter. A sample of six brokers found two who would buy British Steel shares, and four sellers. Buyers include UBS, which places emphasis on the financial strength of BS. Sellers include Williams de Broe, which sees imports as a problem since steel prices in the US are lower than those in the UK. Merrill Lynch is effectively a buyer and sees BS as a low cost producer, so in a strong position.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Sceptical on steel
Article Abstract:
British Steel has been affected by the high value of pound sterling which has hit margins and increased the attactiveness of steel imports. The company's share prices has also been affected. Three brokers from a sample of six rate the company's shares a sell, two rate them a hold, and there is one buyer. The buyer is Societe Generale Strauss Turnbull which sees stronger steel prices. UBS and Morgan Stanley are the holders, while the sellers are Albert E Sharp, Merrill Lynch, and Panmure Gordon.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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