Broker snap: Antofagasta close to fair value
31st Mar 2010 12:58
Natural resource specialist Fox Davies Capital has commenced coverage of Chilean copper miner Antofagasta with a 'hold' recommendation and a discounted cash flow valuation of the shares of 985p. 'We have run all the mines life of mine with the exception of Los Pelambres, In the Los Pelambres case w
Read moreFTSE 100 movers: Financials negate mining gains
30th Mar 2010 12:14
Mining companies remain the best performers in the Footsie but they can't totally offset the decline in financials. Strong demand for metals plus news that BHP Billiton has successfully persuaded several of its iron ore customers in Asia to move to shorter term contracts has boosted the whole sect
Read moreLondon close: Gains pared at the close
17th Mar 2010 16:48
London's gains were trimmed just before the close as traders took a few profits before heading off to celebrate St. Patrick's Day. Nevertheless, it was the highest close for the Footsie since the middle of 2008. Mining stocks led the advance, despite conflicting views in the broking community on th
Read moreLondon afternoon: Brokers in miners disagreement
17th Mar 2010 14:29
A firm opening by Wall Street gave UK shares an additional fillip over the lunchtime trading session. Miners are leading the advance, despite conflicting views in the broking community on their merits. Societe Generale is in the bearish camp, cutting sector giants BHP Billiton and Rio Tinto from 'b
Read moreWednesday tips round-up: International Power, Inmarsat, Antofagasta
10th Mar 2010 06:55
International Power's attraction is that it is well placed to take advantage of short-term improvements in power prices. Many of its power stations are so called "peaking" plants that can be fired up at short notice when demand suddenly outstrips supply. It is growing in the Middle East and Asia,
Read moreLondon close: Late rally limits losses
9th Mar 2010 16:36
A strong early performance from US shares helped Footsie recover from earlier weakness to close only slightly lower on a U-shaped day for the leading share index. Sentiment had earlier been dented by weak economic news. Data from the Office for National Statistics showed the UK's deficit on trade i
Read moreLondon afternoon: Footsie meanders in the red
9th Mar 2010 14:18
Disappointing UK trade figures knocked Footsie early with little help likely from the US as futures point to a weak start on Wall Street. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than
Read moreBroker tips: Antofagasta, Tullett Prebon, Mears
9th Mar 2010 13:09
Shares in Chilean copper miner Antofagasta dipped on Tuesday after the earnings came in a tad below consensus and the dividend disappointed, but the company remains the 'best copper pure play stock' on the London Stock Exchange, according to Ambrian. 'The dividend being set at US¢23.4 vs. consensus
Read moreBroker snap: Antofagasta 'best pure copper play'
9th Mar 2010 12:49
Shares in Chilean copper miner Antofagasta dipped after the earnings came in a tad below consensus and the dividend disappointed, but the company remains the 'best copper pure play stock' on the London Stock Exchange, according to Ambrian. 'The dividend being set at US¢23.4 vs. consensus of US¢29 m
Read moreLondon midday:Trade figures derail rally
9th Mar 2010 12:05
Disappointing trade figures announced at 9:30 nipped an attempted rally in the bud and shares spent the rest of the morning in retreat. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than ec
Read moreSector movers: International Power lights up electricity sector
9th Mar 2010 11:39
Strong gains from International Power after full-year results help lift the electricity sector higher. The energy company reported a slight increase in its full-year dividend but said its near-term performance will be impacted by weak market conditions in the US and the UK. Antofagasta is among th
Read moreLondon open: Quiet opening for Footsie
9th Mar 2010 08:37
London has opened quietly with buyers content to watch the stream of results from FTSE 350 stalwarts. Shopping centre owner Liberty International is to split into two separate listed businesses, Capital Shopping Centres and Capital & Counties through a demerger. Satellite communications service pr
Read moreLondon pre-open: Hesitant start in store
9th Mar 2010 07:43
Following a mixed performance by US markets yesterday London shares look set for a hesitant opening with the FTSE 100 tipped to ease by 8 points to dip back below the 5600 level. Shopping centre owner Liberty International is to split into two separate listed businesses, Capital Shopping Centres a
Read moreAntofagasta soothes quake fears
9th Mar 2010 07:29
Lower copper prices hit Chile-based miner and railway owner Antofagasta's earnings last year and some shareholders are moaning about the small dividend. The firm also took the opportunity to calm fears about the impact of the recent earthquake, which it said is expected to have only a "limited" imp
Read moreLondon midday: Footsie drifting sideways
4th Mar 2010 12:13
Footsie is trading sideways after the Bank of England decided on no change to its stance on interest rates and quantitative easing. UK interest rates stay at 0.5% and the QE programme at £200bn. On the company front, results are dominating. Engineering and project management firm Amec is worst of t
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