Sector movers: Miners lead the surge, Ferrexpo jumps 12%
6th Oct 2011 16:15
The miners were among the best performers on Thursday afternoon, helped higher by surging copper and silver prices. Ukraine-focused iron ore producer Ferrexpo was a notable performer, gaining over 12% on the FTSE 250 after it said that pellet production in August was the second highest in the compa
Read moreFTSE 100 Movers: IMI rises alongside miners
6th Oct 2011 14:18
Shares in global engineering group IMI climbed higher after it said that current trading has continued in line with comments made in the August interim results announcement. The firm is due to make a presentation to investment analysts on Thursday to showcase its use of a number of core fluids tec
Read moreLondon midday: Footsie up 2% as BoE injects more money
6th Oct 2011 12:07
The Footsie has held onto gains following the Bank of England's surprise move to increase its asset purchase programme by a bigger-than-expected £75bn. In an announcement at midday, the central bank revealed that it has maintained its key Bank Rate at the historically low level of 0.5%, but raised
Read moreLondon open: Miners in demand ahead of rate decisions
6th Oct 2011 08:35
Strong gains were made on the Footsie in early trade as investors await key policy rate decisions from the Bank of England (BoE) and the European Central Bank (ECB). Meanwhile, the market extended Wednesday's gains on hopes that the European Union is planning for a co-ordinated recapitalisation of
Read moreLondon open: Footsie jumps back above 5,000, retailers mixed
5th Oct 2011 08:37
The Footsie has clawed its way back over the 5,000 level on Wednesday morning, with just four stocks registering losses, following on from a dramatic rally on Wall Street late Tuesday night. Driving the bull market in the last hour in the US - which saw the Dow swing 400 points - were reports from
Read moreUPDATE: Monday broker round-up
3rd Oct 2011 09:03
Antofagasta: Citi upgrades to hold, target cut from 1,230p to 1,010p. Man Group: Citi has kept its hold/high risk rating and 190p target. Lonmin: Citi maintains hold/medium risk recommendation and 1,237p target. Burberry: Nomura reiterates neutral rating and 1,356p target. Cookson: UBS upgrades
Read moreBroker snap: Goldman Sachs has mixed views on miners
29th Sep 2011 10:16
US investment bank Goldman Sachs has turned bullish on mining companies Kazakhmys and First Quantum Minerals. Both have been upgraded from "neutral" to '"buy", largely because of Goldman's belief in a positive outlook on copper prices. In regards to First Quantum, the Goldman analysts assert that
Read moreFTSE 100 Movers: Miners bounce back
27th Sep 2011 14:41
Fresnillo was heading north after broker Citi raised its rating on the silver miner to "hold" from "sell". The move was prompted by the firm's unusual price fall lately, in line with a decline in the broader precious metals market. Fresnillo wasn't the only miner on the up; Vedanta, Antofagasta
Read moreFTSE 100 Movers: Vodafone boosted by new plans
23rd Sep 2011 12:28
Engineering firm Weir group was the biggest faller among FTSE 100 constituents after wiping more the £250m from its market value. The bad news looks set to continue throughout Friday as miners bear the brunt of the current economic turmoil. Worrying economic data from China added to the woes, with
Read moreLondon close: Markets dive on dismal global outlook
22nd Sep 2011 16:30
Gloomy comments from the Federal Reserve last night followed by even gloomier remarks by leading economists terrified the markets on Thursday, with benchmarks in the UK, Europe and the US suffering falls of between 3% and 5% as of 16:30. The FTSE 100 in London was nearly 5% down by the end of the se
Read moreSector movers: Commodity prices drop, miners unwanted
22nd Sep 2011 14:30
Mining stocks led the sell-off on Thursday as the US Federal Reserve yesterday painted a gloomy picture of the state of the US economy, dampening sentiment across global stock markets. "Information received since the Federal Open Market Committee met in August indicates that economic growth remains
Read moreFTSE 100 Movers: No risers, miners leading the fall
22nd Sep 2011 13:25
There were no risers on the FTSE 100 today, after the US unveiled a £250bn rescue plan to revive its flagging economy. Copper miner Antofagasta was the biggest faller, pushed lower by the news that Pakistan's Baluchistan province has voiced objections to a mining lease for a significant copper and
Read moreLondon close: Stocks dive as Greek worries persist
21st Sep 2011 16:50
Shares closed firmly in the red as the Eurozone crisis rumbled on, with Greece's government meeting to discuss austerity measures including public sector lay-offs. Reports suggest that Greece will have to wait until next week to find out if it has done enough to persuade the officials from the Inte
Read moreSector movers: Rio and the miners in the red
21st Sep 2011 15:01
The miners were the worst performers on Wednesday afternoon, with blue chips Antofagasta, Rio Tinto and BHP Billiton dragging the sector down. Rio Tinto reported that some customers have asked for deliveries of metals to be delayed, signalling that global economic weakness is hitting demand for com
Read moreFTSE 100 Movers: Lloyds rising high after FT report
21st Sep 2011 13:03
Lloyds Banking was topping the leaderboard after a report from the Financial Times which said that the firm is set to sell a portfolio of commercial property loans worth around £1bn. Lloyds has declined to comment on the matter. Mining giant Rio Tinto saw a drop in its share price after reporting
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