Broker tips: Miners, Carpetright, Imagination Technologies
26th Jun 2009 13:32
Barclays has been giving the miners the once-over and has moved some of its ratings as a result, with bid target Anglo American predictably seeing an upgrade. Barclays sees the share price of Anglo American hitting 2300p as the merger scenario with Xstrata develops. Barclays believes either Xstrata
Read moreBroker snap: Barclays flip-flops on Anglo and BHP
26th Jun 2009 13:31
Barclays has been giving the miners the once-over and has moved some of its ratings as a result, with bid target Anglo American predictably seeing an upgrade. Barclays sees the share price of Anglo American hitting 2300p as the merger scenario with Xstrata develops. Barclays believes either Xstrata
Read moreLondon close: Late rally not enough
25th Jun 2009 17:01
A late rally by UK equities was not enough to prevent the blue-chip index closing in negative territory, largely as a result of weak miners, which were weighted down by softer metals prices. Lonmin, Vedanta, Rio Tinto and BHP Billiton were all stuck in the red. Elsewhere in the sector, Anglo Americ
Read moreLondon afternoon: Banks and miners retreat
25th Jun 2009 14:27
Leading equities drift lower in the afternoon session, led by banks and miners. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, however,
Read moreLondon midday: Prices drift lower
25th Jun 2009 12:13
Shares continue to drift lower despite expectations of a firm start on Wall Street. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, howe
Read moreLondon open: Miners drop early on
25th Jun 2009 08:10
London's top stocks are lower in early dealings Thursday following a weak finish in the US last night, with miners among the main fallers. Lonmin, Antofagasta and Eurasian Natural Resources are all stuck in the red. Elsewhere in the sector, the Times is reporting that Xstrata has stepped up its cam
Read moreThursday newspaper round-up: Xstrata, Anglo American, Stagecoach
25th Jun 2009 06:10
Xstrata stepped up its campaign to merge with Anglo American last night, taking its £41 billion merger proposal over the heads of Anglo's board to its shareholders. The Anglo-Swiss miner will intensify its charm offensive in the coming days, with Mick Davis, its chief executive, expected to meet the
Read moreLondon close: US gains lift Footsie
24th Jun 2009 16:36
After a lacklustre start to the day, the FTSE 100 finished with good gains, helped by a strong performance on Wall Street. US stocks were helped by a rise in durable goods orders, which climbed 1.8% in May, against expectations of 0.9% fall. Miners Kazakhmys, ENRC and Vedanta were in demand on the
Read moreTechnical Analysis: Miners rally off support
24th Jun 2009 16:31
Commodity prices continue to slide lower on the back of doubts over the sustainability of the economic recovery. The LMEX base metal index, which I referred to last week, has continued to fall and bounced off its long term support line on Monday. The subsequent rally in mining stocks has been the
Read moreLondon afternoon: Rally gains momentum
24th Jun 2009 14:29
A positive start by Wall Street has encouraged a surge by leading London equities, pushing the Footsie higher. Kazakhmys, ENRC and Vedanta are all in demand on the back of higher metal prices. Elsewhere in the sector Anglo American is wanted on rumours that Xstrata's merger approach has alerted Val
Read moreConsolidation rumours buoy Anglo
24th Jun 2009 13:57
Consolidation rumours are rife in the mining sector following reports that Xstrata's merger approach to rival Anglo American has alerted Chinalco and Brazil's Vale to the possibility of gatecrashing the party. Anglo American flatly rejected Swiss-based Xstrata's merger approach on Monday, but rumou
Read moreLondon midday: Miners give Footsie a leg-up
24th Jun 2009 11:59
Leading shares remain mixed with a moderately firmer bias, thanks largely to a buoyant mining sector. Anglo American is the best performer on rumours that Xstrata's merger approach has alerted Vale from Brazil and Rio Tinto's erstwhile partner Chinalco to the possibility that a deal could be done.
Read moreFTSE 100 movers: Rumours buoy Anglo American
24th Jun 2009 10:44
Anglo American is the best performer on rumours that Xstrata's merger approach has alerted Vale from Brazil and Rio Tinto's erstwhile partner Chinalco to the possibility that a deal could be done. Elsewhere in the sector Kazakhmys is in demand as metal prices head north. Lonmin has also moved for
Read moreLondon open: Footsie marks time
24th Jun 2009 08:34
Early gains for the blue chip index have been pulled back by the combination of ex-dividend reductions and a gloomy results statement from Comet owner Kesa. Anglo American is the best performer on rumours that Xstrata's merger approach has alerted Vale from Brazil and Rio Tinto's erstwhile partner
Read moreWednesday newspaper round-up: Banks face new crackdown
24th Jun 2009 06:21
Ministers will announce a crackdown on Britain's biggest banks next week, putting pressure on them to reorganise or face a blitz of more onerous capital and liquidity rules. In a move that could push up their cost of capital or force them to accept worse terms from their trading counterparties, lar
Read more