Broker tips: Vodafone, Antofagasta, Airline stocks
7th Apr 2015 11:35
Shares in telecoms giant Vodafone were on the rise on Tuesday after UBS highlighted the possibility of a bid from US cable operator Liberty Global. The Swiss bank maintained a 'buy' rating and 265p target price on the UK-listed stock, saying that Liberty may be revisiting its strategy. Nevertheless,
Read moreJefferies highlights M&A opportunities for copper miner Antofagasta
7th Apr 2015 11:22
Antofagasta's stock should outperform, according to analysts at Jefferies, with the copper miner approaching a "strategic inflection point". The broker reiterated a 'buy' rating and 900p target price for the shares. Jefferies believes Antofagasta has significant advantages compared with other miner
Read moreSector Movers: Consumables lead FTSE 100 higher on a dire day for miners
2nd Apr 2015 11:45
Consumables related stocks kept the FTSE 100 firmly in the green on Thursday as miners endured a pummelling from investors. At 15:50 the FTSE 100 was trading up 0.38% or 25.69 points at 6835.19 led higher by food and beverage stocks. Coca Cola HBC (up 3.85%) and Marks & Spencer (up 3.68%) topped the
Read moreIron ore prices slump to 10-year low, mining stocks pummelled
2nd Apr 2015 09:26
The price of iron ore has plunged below $50 per metric tonne for the first time in over 10 years, as oversupply and lacklustre Chinese demand continue to hound the market. Nearing the close of Asian trading on Thursday, benchmark iron ore for immediate delivery ex-Tianjin, China was trading down 3.9
Read moreBroker tips: Mining stocks, Lloyds, Rolls-Royce, Asos
1st Apr 2015 11:17
JPMorgan Cazenove has reduced target prices across the UK mining sector after lowering its commodity forecasts, predicting further demand weakness, especially from China, in the second quarter. The broker has lowered its 2015/2016 forecasts for copper prices by 3%/6%, aluminium by 5%/9%, zinc by 4%/
Read moreJPMorgan cuts mining forecasts on further demand weakness in Q2
1st Apr 2015 10:01
JPMorgan Cazenove has reduced target prices across the UK mining sector after lowering its commodity forecasts, predicting further demand weakness in the second quarter. The demand for base metals in China was weaker than predicted in January and the robust pick-up post Chinese New Year that many ha
Read moreLondon close: FTSE plunges 1.7% as investors take profits ahead of quarter-end
31st Mar 2015 16:31
Sharp falls from mining and tobacco stocks sent the FTSE 100 to its lowest close in two and a half weeks on Tuesday as investors used some weak economic data as an excuse to rebalance their books before the quarter-end. After briefly trading in the green early on, the Footsie finished had plunged 1.
Read moreFTSE 100 movers: Kingfisher surges on store closures, tobacco stocks lower
31st Mar 2015 13:22
DIY retailer Kingfisher soared as it impressed investors with plans to close 60 stores, as new chief executive Véronique Laury announced full-year results and set out her plans for a "very different" company. The company announced a £200m cash return for the coming financial year as it revealed adju
Read moreLondon midday: FTSE drops sharply to two-week low at quarter-end
31st Mar 2015 12:11
After a brief stint in positive territory, UK stocks dropped sharply into the red by Tuesday lunchtime as concerns about the Eurozone outweighed upbeat data closer to home. London's FTSE 100, which rose initially to a high of 6,910.07, had sunk over 1% to 6,819.82 by midday. The index has not closed
Read moreBroker tips: Kingfisher, Antofagasta, Meggitt, Petrofac
31st Mar 2015 11:40
Analysts were largely very impressed by the strategic vision nailed to the wall by Kingfisher's new chief executive Véronique Laury as she lifted the lid on some less impressive full-year numbers. Brewin Dolphin's Nicla Di Palma said the new strategy makes sense, with the new focus on capital discip
Read moreCitigroup sees no rationale for Antofagasta in rumoured Teck merger
31st Mar 2015 09:41
Citigroup said it sees no clear rationale for Antofagasta in its denied merger with Canadian mining peer Teck Resources, saying that it is unlikely that the UK group is 'in play' in M&A terms. The US bank reiterated a 'sell' rating and 690p target price on Antofagasta. Both Antofagasta and Teck hav
Read moreLondon open: Stocks inch higher, but gains limited early on
31st Mar 2015 09:14
UK stocks edged higher on Tuesday morning ahead of a busy day for economic data, with B&Q owner Kingfisher leading the rise early on. The FTSE 100 was up 0.1% at 6,896.06, extending gains after snapping a four-day losing streak on Monday. Asian stocks rose on Tuesday after Beijing unveiled new meas
Read moreLondon pre-open: Slightly lower open expected ahead of data
31st Mar 2015 07:47
UK stocks were expected to open slightly lower on Tuesday morning ahead of a raft of economic data, with investors treading cautiously on the last day of the first quarter. City sources predict the FTSE 100 will open just five points lower than Monday's close of 6,891.43. "Quarter end can bring abo
Read moreAntofagasta and Teck Resources deny merger rumours
31st Mar 2015 07:12
UK-listed miner Antofagasta has quashed rumours that it was looking to merge with copper producing peer Teck Resources. Both Antofagasta and Canada-based Teck have denied the speculation, despite a Bloomberg report that suggested the two were in "early-stage talks". The rumoured deal, which would h
Read moreFTSE 100 movers: Kingfisher surges as French acquisition falls through, miners higher
30th Mar 2015 13:29
Kingfisher surged after revealing its deal to acquire French rival Mr Bricolage will not go ahead as a result of shareholder and board opposition to the terms of the deal. Some Mr Bricolage franchisees are thought to fear the store closures that would be necessary for Kingfisher to win regulatory ap
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