FTSE 100 movers: TUI leaps on confirmation of merger approach
16th Jan 2013 15:57
TUI Travel raced ahead of Wednesday afternoon after the firm confirmed that it has been approached by its German parent company, TUI AG, about a merger. "The Independent Directors of TUI Travel have recently received an approach from TUI AG which may or may not result in a combination of the two c
Read moreAnglo American shares dive as workers stage protest
16th Jan 2013 11:43
Mining group Anglo American saw its shares decline sharply after a number of workers protested against plans to close several mines. The employees refused to enter a number of mines, the company's subsidiary, Amplats, which is making the closures, has confirmed, and are now engaged in an "illegal w
Read moreLondon midday: Banks and miners fall as risk is scaled back
16th Jan 2013 11:38
Banking and mining stocks were firmly out of favour on Wednesday morning as risk appetite was scaled back due to concerns over the outlook for global economic growth. The World Bank has cut its global growth forecast for 2013 due to the difficult recovery that economies worldwide are currently unde
Read moreBroker tips: UK banks, Vodafone, Anglo American
16th Jan 2013 11:05
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. "In the context of the risk rally we see the UK domestic banks as well positioned relative to Italian and Spanish banks, but we would prefer to own
Read moreBroker snap: Further strikes at Anglo a possibility, says UBS
16th Jan 2013 09:16
UBS has reiterated its 'neutral' rating and 1,860p target price for mining giant Anglo American saying Tuesday's announced shake-up of its platinum division is a necessary step. Anglo American Platinum, otherwise known as Amplats, said that it would reduce platinum production by around 250,000 ounc
Read moreLondon open: Stocks track Asian markets lower
16th Jan 2013 08:35
UK stocks were lower on Wednesday morning as market sentiment was weighed down by heavy losses in Asia, concerns over the euro and a growth forecast cut by the World Bank. "European equities are trading slightly lower this morning unable to recoup yesterday's losses with pressure arising out of Asi
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreFTSE 100 movers: Anglo American, ARM Holdings, RBS
15th Jan 2013 18:30
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreFTSE 100 movers: Anglo American shares fall on restructuring plans
15th Jan 2013 16:57
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreLondon close: Markets cautious as US debt fears resurface
15th Jan 2013 16:54
- Anglo sinks into the red by the close - Burberry jumps after Q3 update - Debt ceiling concerns resurface, Obama takes hard-line approach The FTSE 100 finished with only slight gains on Tuesday afternoon as markets continued to be range-bound with concerns over the US debt ceiling weighing on the
Read moreAnglo drops as platinum shake-up prompts political backlash
15th Jan 2013 15:46
Shares in UK-listed mining group Anglo American had sunk into the red by Tuesday afternoon as its plans to mothball mines and cut jobs in Rustenburg prompted a backlash from South African politicians. The market initially reacted positively to the proposed restructuring of Anglo American Platinum (
Read moreLondon midday: Burberry, platinum stocks provide a lift
15th Jan 2013 11:26
- Burberry impresses with Q3; ARM hit with downgrades - Platinum stocks, prices rise after Amplats shake-up - US debt ceiling concerns return Strong gains for Burberry and platinum stocks helped the FTSE 100 push into positive territory by the midday mark, although gains were limited by resurfacing
Read morePlatinum stocks surge after Amplats shake-up
15th Jan 2013 10:19
Shares in speciality chemicals group Johnson Matthey raced ahead on Tuesday morning following the announcement by Amplats that it is to restructure its assets and embark on a cost-cutting programme. Johnson Matthey, the world leader in platinum distribution and the sole marketing agent for Anglo Am
Read moreLondon open: Stocks flat as US debt ceiling fears resurface
15th Jan 2013 08:28
Concerns about the US debt ceiling and the German economy were weighing on market sentiment on Tuesday morning, with the FTSE 100 trading broadly flat in the opening hour. President Barack Obama said last night that he would not negotiate with Republicans over raising the debt ceiling, declining to
Read moreAnglo to shake up struggling platinum business - UPDATE
15th Jan 2013 07:07
Resources giant Anglo American has launched a restructuring and cost savings programme for its South African platinum operations as it emerged that the division would record a big loss for 2012 after being hit by strikes and falling prices. Anglo American Platinum, widely known as 'Amplats', said o
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