Technical Analysis: Miners out of favour
17th Jun 2009 13:28
A sharp turn around in commodity prices has seen the mining sector go into reverse since the beginning of the month, as profit-taking on the rises of the last few weeks starts to kick in. The LMEX base metal index has dropped from a peak of 2555.1 on the 11th June to close at 2,386.6 Tuesday night
Read moreSector movers: BT lifts telecoms
16th Jun 2009 11:32
Fixed line telecommunications has been given a boost with BT topping the risers after broker Morgan Stanley upgraded the stock to "overweight" and increased its price target. "We see a 3-4 year target for the shares of around 190 pence, but the market could get there far sooner if it sees evidence
Read moreLondon open: Weak start for blue chips
15th Jun 2009 08:37
London's blue chips have fallen sharply with the miners taking the biggest hit. Platinum miner Lonmin leads the fallers after it shut down its Number One furnace. The group's initial estimate is that a full repair of the vessel is likely to take around 30 days. Other miners are also under pressure
Read moreMonday newspaper round-up: Anglo American, CBI, ITV
15th Jun 2009 06:17
Cynthia Carroll, the chief executive of Anglo American, has lost the confidence of leading shareholders who want her to consider merging the London-listed mining giant with its rival Xstrata. Some big investors have drastically reduced their shareholdings in Anglo over the past year because of conc
Read moreLondon close: Banks boost Footsie late
11th Jun 2009 16:33
London rallied strongly late on, helped by gains for banks, which outweighed profit taking among the big mining stocks and weakness among oil users as the price of crude rose again. Speculation is growing about the timing of the government's withdrawal from ownership of large stakes in Royal Bank
Read moreLondon close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreLondon open: Miners buoyant as Rio raises $15bn
5th Jun 2009 08:56
A buoyant mining sector sent Footsie sharply higher in early dealings as investors rejoiced as Rio Tinto launched a $15.2bn rights issue. The cash call follows confirmation this morning that Rio Tinto had scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco. The deal also
Read moreLondon midday: Financials lead rally
4th Jun 2009 12:03
The Bank of England's interest rate decision was every bit the non-event economists had been predicting, with the key lending rate left unchanged at 0.25% while no further changes to the quantitative easing programme have been made. Equities remain slightly firmer, with financials recovering some o
Read moreTechnical Analysis: Mining sector makes new highs
2nd Jun 2009 11:07
The break above the highs of this year, on both the Reuters Jeffries CRB and Goldman Sachs Commodity Index last month, at 245.00 and 384 respectively, has seen commodity shares continue their rally over the past few days. They have also broken their respective 200 day moving averages, with the CRB
Read moreSector movers: Tesco climbs after giving workers shares
26th May 2009 12:08
Food retailers are going well including Tesco, which is distributing £98m in shares among its workers. The details emerged as the group published its 2008/2009 annual report, which also revealed that top bosses picked up £22.2m in salary and bonuses. More than 200,000 workers - from checkout staff
Read moreSector movers: Miners rampant after Goldman review
22nd May 2009 12:27
Mining stocks are helping Footsie win back some of yesterday's losses after Goldman Sachs ramped up price targets across the sector in expectation of a China-fuelled rally in commodity prices. "Datapoints from China, and a more bullish outlook from our colleagues in the region, prompt us to analyse
Read moreBroker tips: British Airways, Marstons, miners
22nd May 2009 12:07
Things are so volatile in the airline business at present that British Airways declined to give any trading guidance for the current financial year with its 2008/9 results announced on Friday, making it difficult for analysts to get a handle on the company's prospects. Charles Stanley is playing it
Read moreBroker snap: Goldman note lifts miners
22nd May 2009 11:44
Mining stocks are helping Footsie win back some of yesterday's losses after Goldman Sachs ramped up price targets across the sector in expectation of a China-fuelled rally in commodity prices. "Datapoints from China, and a more bullish outlook from our colleagues in the region, prompt us to analyse
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