FTSE 100 movers: Fresnillo lifted by broker upgrade
9th Jul 2009 14:25
Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast, the US bank had downgraded gold miner Randgold Resources to "hold" from "buy". Elsewhere in the sector Anglo American jumps on hopes that Xstrata will bow to institutional pressure and pay a premi
Read moreLondon midday: Mining stocks in the driving seat
9th Jul 2009 12:17
Mining stocks are behind the wheel once again and today they are driving the market higher. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Randgold Resources to "hold" from "buy". Elsewhere in the sector An
Read moreThursday newspaper round-up: Mortgages, Xstrata, Anglo American
9th Jul 2009 06:11
Negative equity mortgages are being offered to customers of Nationwide that will allow homeowners once again to borrow more than the value of their intended house purchase. Nationwide has begun offering its customers suffering from negative equity a mortgage that provides up to 125 per cent of a pro
Read moreTechnical Analysis: Commodity prices extend losses
8th Jul 2009 12:52
The rally in commodity prices over the last 4 months appears to have run its course with a number of important commodity indices starting to exhibit increased weakness. This weakness has translated across to equity markets on both sides of the Atlantic as both the FTSE100 and S&P500 have either br
Read moreBroker tips: Astra, Tullow, Miners
8th Jul 2009 12:02
Producers of generic alternatives to AstraZeneca's prostate cancer drug Casodex have been slow off the mark and this has created an unexpected windfall for the UK drugs giant. US drugs firms Mylan and Caraco received approval from the US Food and Drugs Administration (FDA) yesterday to start shippi
Read moreBroker snap: Bargains to be had in mining sector
8th Jul 2009 11:12
Mining stocks have fallen out of favour over the last month, with the sector down by one-seventh, and this has encouraged brokers Investec and Citigroup to advise clients to look at the sector for bargains. Investec has upgraded BHP Billiton and Rio Tinto from "hold" to "buy" in the wake of share p
Read moreLondon close: Footsie gives up gains
7th Jul 2009 16:29
Footsie managed to shrug off a poor performance on Wall Street until late in the day but gave up the fight just before the close to finish slightly in the red. Miners led the risers. Xstrata was wanted as rumours resurfaced that Brazilian mining titan Vale is contemplating reviving bid talks with
Read moreLondon afternoon: Prices hold steady at higher levels
7th Jul 2009 14:09
Equity prices stagnated over the lunch time trading session. Footsie remains modestly higher but volumes are low. Miners lead the advance, with the top 6 performers among Footsie constituents all mining stocks, Miner Xstrata is wanted, as rumours resurface that Brazilian mining titan Vale is con
Read moreLondon midday: Shares comes off the top
7th Jul 2009 12:11
Prices are off the top despite expectations of a moderately firmer opening on Wall Street. Earlier shares had been given a lift by the release of the latest British Chambers of Commerce (BCC) survey showed a rebound of confidence levels in the second quarter. Britain may have seen the worst of the
Read moreXstrata sticks with Anglo synergies figure
30th Jun 2009 17:30
Mining giant Xstrata was asked by the Takeover Panel on Tuesday to clarify the level of synergies it sees from its proposed merger with Anglo American, after recent press comment suggested the savings could be bigger than originally specified. Xstrata has reiterated its figure of $1bn per annum of
Read moreLondon close: Late gains lift Footsie
29th Jun 2009 16:50
After a rather sluggish start to the day, Footsie ended with chunky gains, helped by buoyancy on Wall Street. Lloyds Banking topped the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "conviction buy" list. Goldman Sachs has also lif
Read moreLondon afternoon: Financials spearhead the advance
29th Jun 2009 14:21
Banks and insurers lead the way as London continues its steady advance. Lloyds Banking tops the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "Conviction Buy" list. Goldman Sachs has also lifted its target price from 61p to 107p, af
Read moreLondon midday: Lloyds leads banks higher
29th Jun 2009 11:51
Risers outnumber fallers by around three to one among Footsie constituents, as the index pushes ahead despite weakness among miners. Lloyds Banking tops the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "Conviction Buy" list. Goldm
Read moreMonday newspaper round-up: National Express, Vodafone, Madoff
29th Jun 2009 06:22
National Express has rejected an unsolicited takeover bid from its larger rival FirstGroup in a surprise development likely to put further pressure on the bus and rail operator. News of the board's decision to spurn the offer comes ahead of a trading update on Wednesday and only a week after the co
Read moreSunday newspaper round-up: Lloyds Banking, Anglo American, Marston's
28th Jun 2009 10:45
Lord Davies, the former Standard Chartered chief and now Trade minister, has been offered the chairmanship of Lloyds Banking Group but will turn the job down. The peer's decision to decline the job will be a blow to John Kingman, head of UK Financial Investments (UKFI), the body which owns the Gove
Read more