Broker snap: Anglo could lose a 'key growth pillar', says Credit Suisse
13th Oct 2011 12:55
Credit Suisse has reiterated its neutral stance on mining giant Anglo American, saying that if a large share of the Los Bronces project in Chile is sold, then the group could lose part of a "key growth pillar". The broker says that it appears that Codelco could exercise its option to acquire a 49%
Read moreUPDATE: Thursday broker round-up
13th Oct 2011 09:42
Logica: RBS raises target from 110p to 115p and keeps buy rating. F&C Asset Management: RBS cuts target from 72p to 65p, hold rating maintained. Henderson: RBS scales back target from 183p to 170p, but keeps buy recommendation. Anglo American: Credit Suisse maintains neutral rating and 3,500p tar
Read moreUPDATE: Tuesday broker round-up
4th Oct 2011 08:25
BHP Billiton: Citi reiterates buy and keeps target at 2,405p. BHP Billiton: Credit Suisse upgrades to outperform from neutral; cuts target to 2,800p from 3,160p. Anglo American: Credit Suisse downgrades to neutral from overperform. Lonmin: Credit Suisse downgrades to underweight from neutral. S
Read moreFTSE 100: BAE falls on job loss rumours
26th Sep 2011 13:53
The UK's main defence contractor, BAE Systems, was heading south after it news that it appears set to shed 3,000 jobs as it sees a slump in orders for its Typhoon aircraft. Reports from Sky News and the Telegraph indicate the plants most likely to be affected are in Warton, Lancashire, and Brough i
Read moreAnglo American told to get De Beers in
26th Sep 2011 10:57
Anglo-American, the FTSE-100 global mining company is, according to reports, under pressure to take over the diamond firm De Beers. The Observer claims some Anglo shareholders feel its current 45% stake in De Beers is undervalued. If it bought a majority stake it could then be transparent about how
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreSector movers: Miners dragged lower by updates and metals prices
9th Sep 2011 16:04
The miners were out of favour on Friday, dragged lower by some announcements by blue chip metals producers and falling metals prices, Anglo American, the UK-listed multi-metal mining giant allegedly eyeing up a counter bid for Macarthur Coal, has walked away from the potential acquisition, accordin
Read moreAnglo American loses interest in Macarthur Coal
9th Sep 2011 10:31
Anglo American, the UK-listed multi-metal mining giant allegedly eyeing up a counter bid for Macarthur Coal, has walked away from the potential acquisition, according to people close to the situation. Australian miner Marcarthur had recently backed an improved bid from Peabody Energy Corp and Arcel
Read moreLondon close: Oil stocks pull Footsie above 5,300
7th Sep 2011 16:26
Oil stocks were the star performers on a decent day for the Footsie, which clawed its way back above the 5,300 mark, helped by a better start on Wall Street. The oil companies were leading the rise on Wednesday, with Tullow Oil, Essar Energy and BP being helped by a rising oil price. Drilling in
Read moreAnglo rumoured to offer $7.5bn for Walter Energy
7th Sep 2011 11:34
Multi-metal mining giant Anglo American is rumoured to be considering an offer for US coking coal miner Walter Energy. According to The Times, the FTSE 100 miner could pitch an offer price at $120 per share for Walter, a massive 60% premium to its closing share price of $74.99 on Tuesday on Wall St
Read moreLondon close: Another slide for FTSE 100
5th Sep 2011 16:48
Stocks were on the slide Monday, giving up many of last week's gains, with banks bearing the brunt of the selling. Bank shares fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's
Read moreLondon midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreLondon open: Banks take a hit in early trade
5th Sep 2011 08:38
The FTSE 100 opened up nearly 2% down with the banks falling heavily in early trading. The dive follows a tumble on Wall Street on Friday and Asia on Monday on the back of concerns over the global economy, as US payrolls were worse than expected. Meanwhile, Christine Largarde, the head of the Inte
Read moreLondon pre-open: More misery for London
5th Sep 2011 07:24
After taking a triple-digit tumble on Friday following worse-than-expected US jobless data for August, the top-share index is set to take another dive this morning, with City traders predicting the Footsie will open at around 5,200, down from Friday's close of 5,292. Mining giant Rio Tinto is to of
Read moreRio and Anglo lose interest in Palabora
5th Sep 2011 07:21
FTSE 100 mining giants Rio Tinto and Anglo American have announced that they are to offload their respective interests in South Africa-focused copper miner Palabora Mining Company. Rio currently holds a 57.7% stake in Palabora, while Anglo owns a 16.8% interest. "Rio Tinto is no longer the natur
Read more