London midday: Chinese slowdown sinks miners and commodity prices
15th Apr 2013 11:21
A sell-off in the mining sector pulled the FTSE 100 over one per cent lower on Monday morning as disappointing growth figures from China and downgraded gold-price targets weighed on markets. China's first-quarter gross domestic product (GDP) growth dropped from 7.9% in the prior quarter to 7.7%, wh
Read moreMonday broker round-up UPDATE
15th Apr 2013 09:50
African Barrick Gold: Citigroup cuts target price from 267p to 175p and keeps its sell recommendation. African Minerals: Goldman Sachs lowers target price from 420p to 410p keeping a buy recommendation. Citigroup moves target price from 440p to 430p and retains a buy recommendation. Anglo American
Read moreLondon open: Miners hammered after Chinese slowdown
15th Apr 2013 08:29
Mining stocks were registering sharp falls on Monday morning as a surprise slowdown in Chinese economic growth weighed on the outlook for commodities demand. China's first-quarter gross domestic product (GDP) growth dropped from 7.9% in the prior quarter to 7.7%, while the consensus forecast had be
Read moreFTSE 100 movers: M&S rises on better-than-expected performance
11th Apr 2013 14:58
Marks & Spencer rose into the top spot on the back of strong food sales during its fourth quarter, and despite a fall in clothing sales. Overall, the period delivered a better-than-expected performance, prompting Investec to say its sees a 'glimmer of hope'. Schroders got a boost from sector peer
Read moreWednesday broker round-up UPDATE
10th Apr 2013 08:57
African Barrick Gold: Westhouse Securities upgrades from sell to neutral with a target price of 195p. Deutsche Bank reduces target price from 340p to 230p keeping its hold rating. African Minerals: Deutsche Bank reduces target price from 620p to 594p and leaves its buy recommendation unaltered. An
Read moreLondon close: Resource-heavy FTSE 100 lifted by slowing Chinese inflation
9th Apr 2013 16:37
Slowing inflation in China and a strong start to the US earnings season by Alcoa boosted the UK's resource-heavy FTSE 100 stock index on Tuesday, with miners leading the surge. Meanwhile, a raft of upbeat economic data from closer to the home lifted sentiment in the UK today, including better-than-
Read moreSector movers: Miners gain as Chinese inflation slows
9th Apr 2013 15:42
Mining stocks were the best performers in London on Tuesday on the back of inflation data from China, which showed that price rises had slowed dramatically in March. Chinese consumer-price inflation slowed to a 2.1% annual rate in March, down from 3.2% in February when prices soared on the back of
Read moreFTSE 100 movers: Miners get boost from Alcoa and Chinese inflation
9th Apr 2013 14:31
Strong results from mining heavyweight Alcoa and slowing inflation in China were lifting resource stocks in London today, with ENRC, Vedanta, Rio Tinto, EVRAZ and Anglo American all making strong gains. The latter's shares were also lifted after the miner reported it would produce three per cent m
Read moreChilean mining strike hits BHP, Anglo and Antofagasta
9th Apr 2013 13:46
Chilean copper miners at state-owned Codelco began a 24-hour work stoppage early Tuesday to demand greater job security, according to unions Tuesday. The protests also delayed operations at BHP Billiton's Escondida project, the world's largest copper mine, and blocked the access road to Anglo Ameri
Read moreAnglo American shares rise on revised copper output estimate
9th Apr 2013 11:44
Anglo American's shares rose Monday as the miner reported it would produce three per cent more copper this year than the last. The revised forecast was driven in part as the troubled Collahuasi mine turns around after a tough 2012. Operational difficulties, labour unrest and a harsh Andean climate
Read moreLondon midday: Miners lead the Footsie higher
9th Apr 2013 11:33
Miners were making impressive gains by Tuesday lunchtime after price rises in China slowed more than forecast in March, increasing hopes that the People's Bank of China will hold off from tightening policy for the time being. Chinese consumer-price inflation slowed to a 2.1% annual rate in March,
Read moreLondon open: Mining stocks boosted by Alcoa, Chinese inflation
9th Apr 2013 09:08
The FTSE 100 opened strongly on Tuesday, taking its cue from a decent finish on Wall Street after bellwether Alcoa reported better-than-expected profits in the first quarter, kicking off earnings season with a bang. Profits from the aluminium producer rose 59% year-on-year despite a slight drop in
Read moreLondon midday: Stocks pull back ahead of rate decisions, US jobs report
3rd Apr 2013 11:49
Sharp falls in the mining sector and a number of heavyweight stocks going ex-dividend ensured that London markets were firmly in negative territory on Wednesday morning, with investors scaling back risk ahead of some key events later this week. "With three major central bank meetings taking place o
Read moreBroker snap: Credit Suisse sees downside risk to metals prices
3rd Apr 2013 09:21
Credit Suisse made across-the-board target-price cuts in the mining sector on Wednesday, highlighting the impact of supply overhang on metals prices this year. In a research note, the broker said that softer-than-expected demand for commodities has brought the attention back to supply growth, parti
Read moreWednesday broker round-up UPDATE
3rd Apr 2013 08:41
Aggreko: Credit Suisse takes target price from 1850p to 2000p staying with its neutral rating. Andor Technology: Investec ups target price from 500p to 525p reiterating a buy recommendation. AngloAmerican: Credit Suisse cuts target price from 2100p to 1900p and reiterates a neutral rating. Antofa
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