Amplats drops into the red in 2012
14th Jan 2013 14:40
The world's biggest platinum miner, Anglo American Platinum, has announced that it swung to a big loss in 2012 as it was hit by strikes and lower prices in the second half. The group, widely known as 'Amplats', said that headline earnings per share are expected to fall to a loss of between 491 cent
Read moreSector movers: Miners fall after Chinese inflation data
11th Jan 2013 15:41
Inflation data in China was providing a drag on the mining sector in London as higher-than-expected price rises in December sparked speculation about tighter monetary policy. Chinese consumer price inflation rose to 2.5% in December, from 2.0% the month before, as cold weather resulted in an increa
Read moreFTSE 100 movers: IAG performs strongly after upgrade
11th Jan 2013 14:31
British Airways and Iberia owner IAG was in demand throughout the day after UBS upgraded the stock from 'neutral' to 'buy', following its underperformance against other European airline shares under the broker's coverage. "We think that IAG could be the laggard most likely to outperform in 2013 sh
Read moreBroker snap: Hold fire on miners, RBC tells clients
11th Jan 2013 12:57
"Despite a strong start to the year, we would wait for lower entry levels to continue to build Mining positions," analysts at RBC were telling clients on Friday morning. A moderately improving economic outlook is estimated for 2013, but China industrial production leverage is not what it used to b
Read moreChairman and CEO of Mediterranean Oil & Gas stock up
9th Jan 2013 16:15
Both the Chairman and Chief Executive of Mediterranean Oil & Gas (MOG) increased their holdings in the company on Tuesday, one day after it said it was 'pleased' with its production activities in Italy last year, setting the stage for a strong 2013. CEO William Higgs purchased 200,000 shares at 10
Read moreLondon close: Slight losses seen on FTSE
8th Jan 2013 16:32
UK stocks ended Tuesday's session with small losses, influenced in part by some weaker-than-expected economic indicators from the Eurozone, marking the second day of losses this year. Eurozone unemployment hit a new record high of 11.8% in November, according to official figures. This was a slight
Read moreFTSE 100 movers: Anglo American rises on announcement of new CEO
8th Jan 2013 14:53
Investors have welcomed Anglo American's appointment of Australian Mark Cutifani as its new Chief Executive. The mining giant pinched Cutifani from AngloGold Ashanti to replace Cynthia Carroll. Cutifani will take the reins in April with a pay packet worth around 2.38m pounds, including salary and bo
Read moreNew Anglo American CEO gets thumbs up from investors
8th Jan 2013 14:01
Investors have welcomed Anglo American's appointment of Australian Mark Cutifani as its new Chief Executive. Shares were trading up 2.7% at 1400 after the mining giant pinched Cutifani from AngloGold Ashanti to replace Cynthia Carroll. Cutifani will take the reins in April with a pay packet wor
Read moreLondon midday: Corporate activity picks up, but technical resistance looms
8th Jan 2013 11:51
UK stocks are now registering slight gains - and recovering most of yesterday's scant losses - as investors opt to overlook the release of some weaker than expected economic indicators from the Eurozone. That ahead of the beginning of the formal earnings season, Stateside, later today, when alumin
Read moreLondon open: Markets flat ahead of Eurozone data
8th Jan 2013 08:24
UK stocks opened flat on Tuesday morning ahead of some key economic indicators from the Eurozone. On today's agenda, there will be unemployment figures in Italy, German factory orders as well as consumer confidence, jobless and retail sales data for the Eurozone as a whole. Market analyst Craig E
Read moreLondon pre-open: Small losses expected at opening bell
8th Jan 2013 07:26
City sources predict the FTSE 100 will open down 9 points from yesterday's close of 6,065, continuing Monday's profit taking. Losses were seen in both the UK and the US yesterday, following last week's highs, which delivered levels not seen in London for two years. In company news, mining giant A
Read moreTuesday broker round-up UPDATE
8th Jan 2013 07:19
Anglo American: Deutsche Bank reduces target price from 2270p to 2230p and maintains its buy recommendation. Aquarius Platinum: Deutsche Bank ups target price from 73p to 76p, while the buy rating remains unchanged. ARM Holdings: Credit Suisse raises target price from 645p to 780p and reiterates a
Read moreNew Chief Executive for Anglo American
8th Jan 2013 07:07
Mining giant Anglo American has appointed Mark Cutifani of AngloGold Ashant as Chief Executive to replace Cynthia Carroll. Cutifani will take the reins in April with a pay packet worth around £2.38m, including salary and bonuses. He has been Chief Executive Officer of AngloGold Ashanti, the South
Read moreAnglo American and Lafarge announce completion of joint venture
7th Jan 2013 17:08
Anglo American and Lafarge have completed their joint venture for UK construction services after getting the green light from the Competition Commission. The venture, known as Lafarge Tarmac, begins trading Monday. It will combine their cement, aggregates, ready-mix concrete, asphalt and asphalt s
Read moreMonday newspaper round-up: Basel requirements, Rolls-Royce, Anglo American...
7th Jan 2013 07:02
The heads of the world's top regulators and central banks yesterday approved plans to require banks to hold significantly higher levels of liquid assets in order to reduce the chances of a repeat of the 2008-09 financial crisis. But in an apparent response to financial sector lobbying, they also rel
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