London open: Markets edge lower after long weekend
27th Aug 2013 08:12
Stocks fell on Tuesday morning after a three-day weekend as markets attempted to play catch-up following negative sessions in the US and Asia overnight. Concerns over Syria are likely to weigh on sentiment after US Secretary of State John Kerry said last night that Syria would be held accountable f
Read moreLondon pre-open: Markets expected to fall early on
27th Aug 2013 07:49
Markets are expected to open with losses on Tuesday morning as traders return to their desks after the long three-day weekend, attempting to play catch-up after negative sessions in the US and Asia overnight. City sources predict the FTSE 100 will open down around 25 points from Friday's close of
Read moreAntofagasta's first half revenues hit by falling copper prices
27th Aug 2013 07:08
Antofagasta's revenues in the first half dropped 12.1 per cent to 2.7bn dollars, reflecting a decline in copper prices and increased costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 31.2% to $1.2bn following the average London Metal Exchange price of copper falling
Read moreLondon midday: Stocks rise after UK GDP revision
23rd Aug 2013 12:00
Upwards revisions to UK economic growth in the second quarter gave stocks a bit of a boost on Friday morning, though gains were limited as investors scaled back risk appetite ahead of a long three-day weekend. UK gross domestic product (GDP) growth in the second quarter is now said to have been 0.7
Read moreLondon open: Markets pause after strong rise
23rd Aug 2013 08:39
It was a subdued start for equity markets in London on Friday with the FTSE 100 opening broadly flat as investors adopted a cautious approach going into the long weekend. Stocks were pausing for breath early on after a strong rise the day before on the back of improving economic data from across th
Read moreBroker tips: BHP Billiton, Antofagasta, Bovis Homes
19th Aug 2013 11:36
Barclays has maintained its positive stance on diversified mining giant BHP Billiton ahead of its full-year results on Tuesday. "The share price of BHP Billiton has outperformed in seven of the last 12 years, and this year is proving no exception. The company's superior margin, ROCE, dividend and f
Read moreBroker snap: Antofagasta shares too expensive, says Morgan Stanley
19th Aug 2013 09:36
Morgan Stanley has maintained its 'underweight' position on Chile-focused copper mining group Antofagasta, saying that while current operating momentum is positive it will be difficult to keep up. "Q1 and Q2 operating performance was undoubtedly robust with grades and recoveries (i.e. volumes) of c
Read moreLondon close: Markets edge higher after subdued session
16th Aug 2013 16:30
Friday was a relatively quiet session for equity markets in London with investor confidence shattered after a sell-off the day before and volumes down due to seasonal trends. The FTSE 100 and benchmark indices on Wall Street suffered steep falls on Thursday as better-than-expected jobless claims ig
Read moreSector movers: Mining, housing stocks making gains
16th Aug 2013 14:56
Gold and silver prices cemented recent gains on Friday due to safe-haven demand, pushing shares prices in the mining sector higher in afternoon trade. Precious metals peers Randgold Resources and Fresnillo were standout performers as gold edged closer to a two-month high while silver stayed close
Read moreFTSE 100 movers: Randgold, Fresnillo lead miners higher
16th Aug 2013 14:28
Gold and silver prices cemented recent gains on Friday due to safe-haven demand, pushing shares prices in the mining sector higher in afternoon trade. Precious metals peers Randgold Resources and Fresnillo were standout performers as gold edged closer to a two-month high while silver stayed flat at
Read moreLondon midday: Markets searching for direction after sell-off
16th Aug 2013 12:01
The FTSE 100 was broadly flat on Friday morning, swinging between gains and losses as equity markets searched for direction following a steep sell-off the day before in the UK and US. The London benchmark lost 1.6% on Thursday after better-than-expected jobless claims data in the States ignited con
Read moreLondon open: Markets rangebound after steep sell-off
16th Aug 2013 08:42
The FTSE 100 opened broadly flat on Friday morning with markets rangebound as sentiment still remained fragile following the steep sell-off the day before. The London benchmark lost 1.6% on Thursday after better-than-expected jobless claims data in the States ignited concerns that the Federal Reser
Read moreLondon close: Stocks sold off on concerns over QE taper, Egypt
15th Aug 2013 16:34
Markets largely shrugged off a strong set of UK retail sales figures today, instead choosing to focus on economic data from the States which continues to throw more weight behind the argument to taper quantitative easing. The ongoing violence in Egypt also continues to be a worry for markets after
Read moreLondon midday: Markets underwhelmed by strong UK retail sales
15th Aug 2013 11:54
Better-than-expected UK retail sales failed to give markets a boost on Thursday morning with the FTSE 100 falling heavily as investors remained cautious ahead of a barrage of US economic data due out later on. UK retail sales volumes climbed 1.1% on the month to an all-time high in July as the heat
Read moreBroker tips: Copper miners, Aviva, Cineworld
15th Aug 2013 11:04
JPMorgan Cazenove has named diversified miner Glencore Xstrata its top pick amongst copper producers, while downgrading its rating for Antofagasta. Glencore Xstrata, which derives 35-40% of its EBITDA/NPV from copper, "stands out in our view", JPMorgan said, reiterating its 'overweight' rating and
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