Broker tips: Anglo American, TUI Travel, Precious metal miners
15th Feb 2013 10:57
Jefferies is 'becoming more positive' on Anglo American after the mining giant reported better-than-expected results for 2012 on Friday morning, but kept its 'hold' rating for the stock. "While we have been concerned about structural cost pressures in South Africa, operational challenges in most of
Read moreBroker snap: Worst could be over for Anglo American, says Jefferies
15th Feb 2013 10:14
Jefferies is 'becoming more positive' on Anglo American after the mining giant reported better-than-expected results for 2012 on Friday morning. "While we have been concerned about structural cost pressures in South Africa, operational challenges in most of Anglo's businesses, and the risk of furth
Read moreLondon open: Markets subdued ahead of G20 meeting
15th Feb 2013 08:19
Stocks markets began Friday's session in a cautious fashion, with the Footsie registering a moderate decline, ahead of the G20 meeting in Moscow. Delegates plan to discuss traditional issues such as the global economic outlook, implementation of the G20 framework agreement for strong, sustainable a
Read moreLondon pre-open: Minimal gain expected in opening trade
15th Feb 2013 07:38
City sources predict the FTSE 100 will open up a couple of points from yesterday's close of 6,327, following on from a mixed, but largely unchanged end to Thursday's session in the US. Thursday's big news Stateside was, of course, the announcement that business titan Warren Buffett plans to buy-ou
Read moreAnglo records 4.6bn-dollar impairment charge for 2012 - UPDATE
15th Feb 2013 07:07
Anglo American was whacked by 4.6bn dollars-worth of impairments in 2012, while underlying earnings took a hit from falling commodity prices, ongoing cost pressures and a loss-making platinum business. However, with expectations low coming into the results announcement, the company was able to beat
Read moreFriday preview: Anglo American releases annual results
14th Feb 2013 15:05
FTSE 100 mining group Anglo American unveils its 2012 results Friday, one day after rival Rio Tinto posted its first-ever annual loss. According to market data on Digital Look, the group is expected to report revenues to the tune of £18.4bn and pre-tax profits of £3.3bn. Earnings per share are anti
Read moreFTSE 100 movers: Tullow Oil rises on strong set of results
13th Feb 2013 15:50
Oil and gas group Tullow rose strongly today after posting a four per cent rise in annual pre-tax profits on the back for strong sales and output. Pre-tax profits in 2012 totalled 1.11bn dollars, ahead of analysts' expectations. Irish building materials group CRH was one of the best performers on
Read moreHeadline earnings fell 37 per cent at Anglo American subsidiary Kumba Iron Ore
12th Feb 2013 08:12
FTSE 100-listed metal mining company Anglo American's subsidiary Kumba Iron Ore has reported headline earnings of 1,499m dollars, 37 per cent less than was recorded a year earlier. The company's contribution to Anglo American's underlying earnings contracted 31% to $1,018m. Meanwhie, the value rec
Read moreTuesday broker round-up UPDATE
12th Feb 2013 07:24
AMEC: Exane BNP initiates with a target price of 1140p and an underperform rating. Anglo American: Goldman Sachs increases target price from 1500p to 1550p, while keeping a sell recommendation. Barclays: Nomura reiterates reduce. Charles Stanley reiterates hold. Investec reiterates buy, with price
Read moreLondon close: Stocks finish higher after decent economic data
8th Feb 2013 17:04
The FTSE 100 finished strongly on Friday afternoon as better-than-expected economic data from across the globe offset yesterday's gloomy comments from Mario Draghi which sparked a sell-off. Markets across Europe suffered steep falls on Thursday - London's FTSE 100 dropped 1.06% - after European Cen
Read moreFTSE 100 movers: Aggreko rises on upgrade
8th Feb 2013 15:22
Temporary power and temperature controls firm Aggreko was higher today after HSBC upgraded the stock to 'neutral'. There was also some 'market chatter' speculating that Aggreko could be a bid target for ABB. Engineering group Weir was also on the up after UBS raised its target price from 2,000p to
Read moreBroker tips: Miners, Weir, Imperial Tobacco
8th Feb 2013 11:09
Ahead of earnings season in the mining sector, Credit Suisse has labelled its top and worst picks among resource stocks. "Our top picks are Rio Tinto and ENRC and from the mid cap group African Minerals and London Mining." While Lonmin is downgraded from 'outperform' to 'neutral', the broker's lea
Read moreFriday broker round-up UPDATE
8th Feb 2013 07:19
Aggreko: HSBC upgrades to neutral with a target price of 1650p. Anglo American: HSBC ups target price from 1950p to 2240p and upgrades to overweight. Antofagasta: HSBC reduces target price from 1200p to 1160p, while upgrading to neutral. ARM Holdings: Credit Suisse increases target price from 780
Read moreAnglo American, Xstrata see resource estimates surge in Chile
7th Feb 2013 07:07
Diversified mining groups Anglo American and Xstrata have highlighted the potential of their joint-owned copper mine in Chile after announcing that the project's resources estimate has been hiked by almost a fifth. The Collahuasi mine, in which the companies own a 44% interest each, has raised its
Read moreLondon midday: Stocks fall on profit-taking after recent surge
4th Feb 2013 11:30
UK stocks were registering moderate losses on Monday morning as traders began to lock in profits following a strong start to the year. The FTSE 100 jumped a whopping 6.4% last month, its best January performance since 1989. "After impressive recent gains, European equities cooled in early trade th
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