Monday broker round-up - UPDATE
9th Jan 2012 09:19
InterContinental Hotels: Deutsche Bank upgrades to buy from hold. Fresnillo: Deutsche Bank upgrades to buy from hold. Antofagasta: Deutsche Bank downgrades to hold from buy. ARM Holdings: Citi reiterates buy. Capita: Panmure Gordon downgrades from hold to sell, target cut from 700p to 560p. Mor
Read moreFTSE 100 Movers: Kazakhmys leads the miners higher
16th Dec 2011 14:14
Kazakhmys leapt into the top spot after investors learnt that it has signed a memorandum of understanding with the China Development Bank Corporation for a $1.5bn loan facility, which is to be used for the development of the major copper project at Aktogay, East Kazakhstan. The facility consists of
Read moreSector movers: Kazakhmys leads miners higher after securing funding
16th Dec 2011 13:50
The miners were the best performers on Friday afternoon, with stocks averaging gains of nearly 2% by 13:50. Leading the charge was copper giant Kazakhmys after a $1.5bn loan facility signed for the Aktogay copper project in East Kazakhstan meant that it has now secured funding for all of its develo
Read moreLondon midday: Footsie up 0.5% as miners rise
16th Dec 2011 11:47
The Footsie extended gains by midday, with miners leading the advance, despite some gloomy comments by leaders in the Eurozone. The blue chip index was trading just 27 points higher by lunchtime, up 0.5% at 5,427, while bourses in Europe edged lower. EUROZONE WORRIES CONTINUE France may have ente
Read moreLondon open: Miners provide a lift early on
16th Dec 2011 08:19
The Footsie opened moderately higher on Friday morning, with financials an miners providing a lift. Miners were among the best performers early on. In other news, the Managing Director of the International Monetary Fund has said that the world is facing similar threats seen in the Depression: "econ
Read moreLondon close: Miners drag Footsie down 2.3%
14th Dec 2011 16:42
The FTSE 100 index finished at its lowest levels of the day on Wednesday, closing over 100 points down from Tuesday's close of 5,490. Just one stock in London, Morrison, finished in the blue, while the heavyweight mining sector dominated the downward direction. Markets remain concerned with the ong
Read moreFTSE 100 Movers: Miners drag index down
14th Dec 2011 14:19
Miners were among the worst performers. Dollar-denominated metals prices were on the decline as the greenback strengthened following the Federal Open Market Committee (FOMC) statement. Fresnillo, Rio Tinto, ENRC and Antofagasta were all registering steep falls. Last night, the FOMC decided, as expe
Read moreLondon midday: Resource stocks pull Footsie to daily lows
14th Dec 2011 12:00
There were just seven risers on London's FTSE 100 at midday, as miners and oil stocks pulled the blue chip index to its daily low of 5,438, a fall of around 1%. In economic news, UK unemployment rose by 128,00 in the three months to October to a reach a total of 2.64m, according to the Office for
Read moreAustralia ups export volume forecasts for 2011-12
13th Dec 2011 13:36
London-listed mining stocks were on their way up on Tuesday, helped by the news that Australia has raised its forecast for commodity export volumes. According to the Bureau of Resources and Energy Economics' (BREE's) Resource and Energy Quarterly, Australia's export volumes for most minerals and en
Read moreLondon close: Footsie drops 1.8% on Eurozone worries
12th Dec 2011 16:46
London's Footsie finished at its lowest levels of the day after Wall Street bourses opened sharply in the red. The Eurozone crisis appeared to be weighing heavily on investors' minds (as usual) following some downbeat comments from Moody's. The FTSE 100 finished 1.8% down at 5,428, some 101 points o
Read moreLondon close: Banks provide a boost after summit
9th Dec 2011 16:45
The EU summit has of course dominated markets today and investors have taken the news reasonably well, with benchmark indices across Europe finishing between 2-3% higher after Eurozone nations (and some others) reached an agreement on enhancing fiscal discipline and strengthening economic policy coo
Read moreLondon midday: Footsie extends gains, banks jump
9th Dec 2011 12:02
A strong performance by the banks and the miners lifted the FTSE 100 into positive territory by lunchtime, despite a fall early on, as markets digest last night's developments from the EU summit. Bourses across the Eurozone were all in the blue ahead of the conclusion of the meeting this afternoon.
Read moreLondon close: Late bounce not enough, EU summit eyed
7th Dec 2011 16:46
The steady decline on the FTSE 100 since the morning proved too much, as a late bounce couldn't bring the blue chip index back into positive territory. Nevertheless, while the Footsie finished 22 points down it was still 45 points off its intraday low. Randgold Resources led the risers on Wednesday
Read moreFTSE 100 Movers: Banks fall on negative news from Europe
7th Dec 2011 15:13
Miners continued to rise following a strong morning trade, with Randgold Resources leading the way after gaining over 3% and Eurasian Natural Resources not far behind. Although not on the top 10, Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta were also performing well. However, banks were n
Read moreLondon midday: Stocks pare gains, euro in focus
7th Dec 2011 11:49
The Footsie was trading well below its intraday high of 5,626 reached in early trading. However, the index was still making moderate gains - up 0.33% at 5,587 by midday - on fresh optimism over the Eurozone, as leaders draw up plans to increase the region's firepower against the crisis. Miners domi
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