Broker snap: Jefferies downgrades Kazakhmys, prefers Antofagasta
30th Aug 2012 11:15
Jefferies now prefers Antofagasta over copper peer Kazakhmys and has downgraded its rating for the latter from 'buy' to 'hold'. "Our preference this year for shares of Kazakhmys over shares of Antofagasta has been based entirely on relative valuations (Kaz is much cheaper). However, after reviewing
Read moreThursday broker round-up
30th Aug 2012 09:35
Admiral: Nomura keeps buy rating and 1,300p target. Antofagasta: Jefferies raises target from 1,050p to 1,200p, hold rating kept. APR Energy: Investec upgrades from hold to buy, target cut from 1,100p to 950p. Cape: Investec maintains buy recommendation and 300p target. Consort Medical: N+1 Brew
Read moreLondon close: Markets nervous ahead of Jackson Hole
29th Aug 2012 16:39
- Stocks look to Jackson Hole summit for a boost - Draghi hints at action ahead of ECB meeting - Glencore leads fallers on growing opposition to merger Global stock markets were mostly trading in the red on Wednesday afternoon in spite an upwards revision to US economic growth as investors showed c
Read moreFTSE 100 movers: Ex-divi stocks weigh on index
29th Aug 2012 14:48
Ex-dividend stocks were providing a drag today, including heavyweights Croda International, Glencore, Legal and General and Xstrata. Glencore and Xstrata were also being pressured lower by reports that Xstrata shareholder Norges Bank Investment Management has raised its stake in the miner in the l
Read moreLondon midday: Markets look to Jackson Hole for boost
29th Aug 2012 11:37
- Greece agrees on budget plan - Spain a concern as Catalonia in need of aid - Markets look ahead to Jackson Hole meeting The Footsie remained firmly in the red in morning trade as concerns over the Eurozone and speculation about the upcoming Jackson Hole meeting in Wyoming continue to be the focus
Read moreLondon open: Glencore leads fallers early on
29th Aug 2012 08:25
- Spain a concern as Catalonia needs aid - Markets await Bernanke - Ex-div Glencore a heavy faller early on Ex-div stocks and miners were weighing heavily on the FTSE 100 index in early trading on Wednesday morning with worries about Spain weighing on sentiment. It was revealed yesterday that the
Read moreLondon pre-open: Slight declines expected on FTSE
29th Aug 2012 07:34
City sources predict the FTSE 100 will open down six points from yesterday's close of 5,776, as hopes of further stimulus action from central banks offsets worries over global growth. Tuesday proved to be a subdued first day back after the bank holiday weekend, as investors await market direction.
Read moreAntofagasta sees earnings fall in the first half
29th Aug 2012 07:07
Chile-based copper miner Antofagasta saw earnings per share (EPS) come in a smidgen ahead of expectations in the first half as a decrease in copper prices was offset by higher levels of production. EPS for this six months to June 30th were 65.5 US cents, 7.2% under the 70.6 cents reported the year
Read moreWednesday preview: Antofagasta, Serco, 888, Paddy Power
28th Aug 2012 16:25
Chilean copper miner Antofagasta must have been thanking its lucky starts it operates in South America rather than South Africa, given the trials and tribulations the likes of sector peers Lonmin and Aquarius Platinum have been suffering lately. The group already updated the market at the beginning
Read moreLondon close: Stocks erase losses on ECB, Fed speculation
24th Aug 2012 16:43
- ECB considering target bands for yields - Merkel wants Greece to stay in Eurozone - UK Q2 GDP revised up. The Footsie rallied in late trading to finish flat on Friday after rumours of a European plan for bonds yields. According to Reuters, the European Central Bank (ECB) is looking at setting yi
Read moreFTSE 100 Movers: Miners drag footsie lower
24th Aug 2012 15:38
Mining stocks were heavy fallers with Kazakhmys, Rio Tinto, ENRC, Antofagasta, Anglo American, Vedanta, BHP Billiton and Randgold falling sharply, tracking various metal prices lower. ??Anglo American dropped after Jefferies downgraded the stock this morning from 'buy' to 'hold' despite yesterday'
Read moreLondon midday: Stocks down despite revision to UK GDP
24th Aug 2012 11:46
- UK Q2 GDP revised upwards - Greece in focus as Samaras meets Merkel - US QE hopes fading fast UK stocks were volatile in morning trade on Friday but remained firmly in negative territory in spite of some upwards revision to second-quarter gross domestic product (GDP) data in the UK. The state of
Read moreLondon open: Footsie falls before GDP data
24th Aug 2012 08:27
- Leader to discuss Greek extension - Markets nervous ahead of UK GDP - Anglo American leads miners lower London's benchmark index slumped in early trading on Friday with mining stocks once again dominating the downward trend ahead of meetings of Eurozone leaders and the release of economic growth
Read moreLondon close: Gains erased as poor data dents stocks
23rd Aug 2012 16:55
- FOMC minutes drive optimism for stimulus - Spain in bailout talks - PMIs disappoint in Eurozone and China Stimulus hopes for the US pushed the Footsie higher early on, but disappointing economic data across the globe meant that the bullish mood was short-lived, with gains erased by the close. M
Read moreSector movers: Randgold and Anglo lead miners higher after Fed minutes
23rd Aug 2012 16:30
Last night's release of the minutes of the latest policy-setting meeting in the US drove stocks higher today, with mining stocks gaining on hopes that the Federal Reserve will inject more stimulus to give the world's largest economy a kick start, lifting the outlook for demand. Randgold was a high
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