Anglo American reports mixed Q3 update, but iron ore output jumps
23rd Oct 2014 05:44
Mining group Anglo American reported falling output of some commodities in the third quarter but delivered a big increase in production of iron ore, its largest division. The company produced 13m tonnes of iron ore in the three months to 30 September, up 37% on last year, following the implementatio
Read moreWednesday broker round-up UPDATE
22nd Oct 2014 09:54
Amino Technologies: N+1 Singer moves target price from 93p to 107p upgrading to buy. Anglo American: Liberum Capital reduces target price from 1300p to 1200p retaining its sell recommendation. ARM Holdings: UBS moves target price from 970p to 980p upgrading from neutral to buy. Deutsche Bank cuts t
Read moreAnglo American gutted after Australia blocks coal-mine extension
21st Oct 2014 09:42
A proposed extension of an Anglo American coal mine in New South Wales (NSW) has been deemed "not in the public interest", according to Australian authorities, because of the threat it posed to the racehorse and tourism industries. Two of the world's biggest horse breeders, Coolmore and Darley, have
Read moreTuesday broker round-up UPDATE
21st Oct 2014 08:50
African Barrick Gold: JP Morgan cuts target price from 340p to 300p and stays with its overweight rating. Anglo American: JP Morgan raises target price from 1240p to 1310p, while leaving its underweight rating unchanged. Investec increases target price from 1573p to 1603p and stays with its buy reco
Read moreSouth Africa to announce iron and coal as 'strategic minerals'
15th Oct 2014 08:41
The South African government is poised to announce iron and coal as "strategic minerals", which analysts say would have a negative impact on mining company profits. Ngoako Ramatlhodi, South Africa's minister for mining, on Tuesday said that a new bill being put before the president could reclassify
Read moreSector movers: Mining stocks continue to rise as China concerns ease
14th Oct 2014 14:20
Mining stocks were on the rise again on Tuesday as share prices continued to rebound after a recent slump. Fears about a global economic slowdown have weighed heavily on equity markets over recent weeks with the mining sector bearing the brunt of the sell-off as commodity prices dropped. However, c
Read moreLondon midday: Weak economic data and earnings sink stocks
14th Oct 2014 12:10
A wave of disappointing corporate updates and worse-than-expected data from the Eurozone pushed UK stocks firmly into the red on Tuesday, as concerns about the global economy continued to weigh on sentiment. The FTSE 100 was down 0.7% at 6,322 by midday, as gains in the mining sector were offset by
Read moreLondon open: UK stocks slip on weak earnings, Burberry drops
14th Oct 2014 09:05
UK stocks declined on Tuesday as gains in the mining sector were offset by disappointing updates from the likes of Burberry, Hargreaves Lansdown, SABMiller, Michael Page International and Mulberry. The FTSE 100 was trading 0.4% lower at 6,344 in early trading as the index continues to rumble along a
Read moreLondon close: Mining stocks help lift FTSE to positive finish
13th Oct 2014 17:00
Coming off the morning's declines, London-listed stocks ended Monday's session on a relatively upbeat note, thanks to a strong performance by the mining sector on what was a generally quiet day for markets. The FTSE 100 finished near its best levels of the session, closing 26.27 points higher at 6,3
Read moreFTSE 100 movers: Miners lead on the upside as travel stocks continue lower
13th Oct 2014 15:53
Mining stocks gained strongly thanks to broker upgrades and positive economic data out from China which showed that both exports and imports jumped in September, by 15.3% and 7% year-on-year respectively. Over the last few months the sector has registered sharp declines due to mounting concerns abou
Read moreAnglo American shares rise after Credit Suisse upgrade
13th Oct 2014 14:44
Anglo American's share price jumped on Monday after Credit Suisse upgraded its recommendation for the London-listed mining group from 'neutral' to 'outperform'. The Swiss bank said that its unchanged target price for the shares of 1,800p now represents 30% potential upside from current prices after
Read moreSector movers: Mining stocks rebound after recent drop
13th Oct 2014 13:33
UK-listed mining stocks, which bore the brunt of the recent market sell-off, jumped by an average of 3% on Monday as strong economic data from China prompted investors to hunt for bargains. The FTSE 350 mining sector had by Friday's close fallen by 19% since the end of July as anxieties about slowin
Read moreBroker tips: Randgold, AB Foods, Smith & Nephew, Mining stocks
13th Oct 2014 12:57
Randgold Resources' share price was given a lift on Monday by analysts at UBS who upgraded the stock from 'neutral' to 'buy' after a recent slump in the value of the gold miner. The bank said that it still prefers precious metals peer Fresnillo over Randgold, but reckons that the risk/reward balance
Read moreStick with miners despite short-term pain, Canaccord recommends
13th Oct 2014 10:27
Diversified mining stocks may come under further selling pressure in the short-term, but the long-term story looks positive, according to broker Canaccord Genuity. Analysts recommended investors "build positions in this period of share-price weakness". After recent dramatic falls in metal prices
Read moreMonday broker round-up UPDATE
13th Oct 2014 09:32
Amino Technologies: Northland Capital upgrades to buy with a target price of 100p. Anglo American: Canaccord Genuity initiates with a target price of 1720p and a buy recommendation. Credit Suisse upgrades to outperform with a target price of 1800p. Associated British Foods: Societe Generale upgrade
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