Broker snap: Investec concerned with metals prices at Antofagasta
1st May 2013 10:11
FIrst-quarter production results from copper miner Antofagasta were well-received by the market on Wednesday but Investec has kept its 'reduce' rating for the stock given a weaker commodity price environment. Total copper output of 183.8k tonnes in the first three months of the year was in line wit
Read moreLondon open: Miners shrug off disappointing Chinese data
1st May 2013 08:21
A slowdown in Chinese manufacturing growth didn't have too much of an effect on stock markets on Wednesday morning as traders showed optimism in anticipation of a continuation of monetary stimulus from the US and a rate cut in Europe this week. Nevertheless, volumes are expected to be low today giv
Read moreAntofagasta remains on target though costs inch up
1st May 2013 07:44
Chilean copper colossus Antofagasta saw production rise 12.8 per cent year-on-year, but fall 5.2 per cent on the preceding quarter due to plant maintenance. Although cash costs rose slightly, group copper production hit 183,800 tonnes in the first quarter of 2013 and management assured that the g
Read moreBroker tips: Miners, BT, Greggs
29th Apr 2013 11:17
Nomura has kept its cautious view on the European mining sector but has highlighted BHP Billiton and Rio Tinto as its top picks and upgraded its rating for ENRC and Anglo American from 'reduce' to 'neutral'. Nomura reckons that BHP Billiton, rated 'buy' at a price target of 2,400p, has a high-quali
Read moreBroker snap: Nomura cautious on miners, but BHP and RIo named top picks
29th Apr 2013 09:22
Nomura has kept its cautious view on the European mining sector but has highlighted BHP Billiton and Rio Tinto as its top picks and upgraded its rating for ENRC and Anglo American. "We have been neutral//defensive on the sector for some time now, and despite recent falls in the space, our thoughts
Read moreMonday broker round-up UPDATE
29th Apr 2013 08:17
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu
Read moreSector movers: ENRC leads miners lower as US GDP disappoints
26th Apr 2013 15:08
Demand concerns weighed heavily on the mining sector on Friday after it was revealed that the US economy grew less than expected in the first quarter of 2013. American gross domestic product (GDP) expanded by just 2.5% in the first three months of the year, rebounding after a meagre 0.4% increase i
Read moreFTSE 100 movers: Miners in retreat
26th Apr 2013 14:01
Heavyweight mining stocks were in the red today as risk appetite declined ahead of the US. ENRC, EVRAZ, Rio Tinto, Anglo American, Fresnillo, Antofagasta and Glencore were among the worst performers. ENRC was the biggest faller after Business Secretary Vince Cable was called upon to launch an offi
Read moreLondon midday: Miners fall ahead of US growth figures
26th Apr 2013 12:08
Stocks in the UK slipped on Friday morning as traders took profits after a three-day winning streak with markets nervous ahead of economic growth data from the United States this afternoon. The US Commerce Department is expected to reveal that gross domestic product (GDP) in the world's largest eco
Read moreLondon open: Markets nervous ahead of US GDP data
26th Apr 2013 08:41
Markets opened in negative territory on Friday morning as eyes turned to the all-important reading of first-quarter economic growth in the US. The US Commerce Department is expected to reveal later on that gross domestic product (GDP) in the world's largest economy expanded at a 3.0% pace in the fi
Read moreLondon close: Markets underwhelmed by strong growth figures
25th Apr 2013 17:00
UK growth figures prompted a mixed reaction on stock markets on Thursday as stronger-than-expected activity in the first quarter quashed hopes that the Bank of England (BoE) would ramp up its quantitative easing programme in order to kick-start the economy. Nevertheless, data from the States lifted
Read moreFTSE 100 movers: Miners lead the risers
25th Apr 2013 15:23
Mining stocks rose on Thursday on the back of rising metal prices, led by Randgold Resources, Antofagasta, Vedanta, ENRC, and Polymetal. Heading the other way was consumer good group Unilever after it had to rely on robust growth from emerging markets as it grew marginally slower than expectations
Read moreLondon midday: Stocks fall as GDP data quashes stimulus hopes
25th Apr 2013 11:46
Better-than-expected growth figures from the UK underwhelmed stock markets on Thursday morning, tempering hopes that the Bank of England (BoE) would ease policy to boost the economy. Stocks have risen strongly over the past few days after a number of disappointing economic figures from the Eurozone
Read moreLondon open: Stocks rise ahead of UK GDP
25th Apr 2013 08:28
Markets opened strongly on Thursday morning as strength in the mining sector lifted the FTSE 100 higher ahead of the release of UK growth data. British gross domestic product (GDP) is widely expected to have expanded by 0.1% in the first quarter, according to consensus estimates, rebounding after a
Read moreSector movers: Miners rise on ECB stimulus hopes
24th Apr 2013 16:04
Increasing hopes of an interest-rate cut in the Europe spurred investor appetite for risk on Wednesday, boosting the miners to the top of the pile. Gloomy figures from the Ifo institute this morning showed that the deterioration of the German economy continued this month with its headline business
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