London close: Stocks extend gains on quiet day
21st Jan 2013 16:36
With Wall Street closed for Martin Luther King Day on Monday, the UK stock market took advantage of low volumes to push London's benchmark index close to levels not seen in five years. "European stock markets benefitted from the lack of news, earnings and economic data released today with the major
Read moreThursday broker round-up UPDATE
17th Jan 2013 07:19
African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreFTSE 100 movers: Anglo American, ARM Holdings, RBS
15th Jan 2013 18:30
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreFTSE 100 movers: Anglo American shares fall on restructuring plans
15th Jan 2013 16:57
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreLondon close: Markets cautious as US debt fears resurface
15th Jan 2013 16:54
- Anglo sinks into the red by the close - Burberry jumps after Q3 update - Debt ceiling concerns resurface, Obama takes hard-line approach The FTSE 100 finished with only slight gains on Tuesday afternoon as markets continued to be range-bound with concerns over the US debt ceiling weighing on the
Read moreLondon midday: Burberry, platinum stocks provide a lift
15th Jan 2013 11:26
- Burberry impresses with Q3; ARM hit with downgrades - Platinum stocks, prices rise after Amplats shake-up - US debt ceiling concerns return Strong gains for Burberry and platinum stocks helped the FTSE 100 push into positive territory by the midday mark, although gains were limited by resurfacing
Read moreBroker tips: ARM, Burberry, Ocado
15th Jan 2013 10:53
Chip designer ARM Holdings is widely regarded as the 'best in class' in the UK tech sector, but analysts at both Morgan Stanley and Investec took the stock down a peg on Tuesday morning, deciding to take a more cautious stance after a recent strong run. Morgan Stanley has slashed its rating from 'o
Read moreBroker snap: Nomura raises target for Burberry
15th Jan 2013 09:49
Nomura has increased its target price for luxury brand Burberry from 1,210p to 1,350p after raising its earnings forecasts by one per cent following the company's third-quarter results. Third-quarter sales came in at £613m, up 9% on an organic basis and £14m better than Nomura expected. This was dr
Read moreLondon open: Stocks flat as US debt ceiling fears resurface
15th Jan 2013 08:28
Concerns about the US debt ceiling and the German economy were weighing on market sentiment on Tuesday morning, with the FTSE 100 trading broadly flat in the opening hour. President Barack Obama said last night that he would not negotiate with Republicans over raising the debt ceiling, declining to
Read moreLondon pre-open: FTSE set to edge lower in early trading
15th Jan 2013 07:29
City sources predict the FTSE 100 will open down 7 points from yesterday's close of 6,108, tracking weakness in Asia overnight. Meanwhile, yesterday evening saw President Barack Obama refuse to negotiate with Republicans over raising the debt ceiling and declining to trade cuts in government spendi
Read moreTuesday broker round-up UPDATE
15th Jan 2013 07:17
African Barrick Gold: Investec lowers its target price from 526p to 405p, while upgrading from hold to buy. ARM Holdings: Morgan Stanley raises its target price from 725p to 911p, while downgrading to equal-weight. Investec ups target price from 800p to 900p and downgrades from buy to hold. Aurum
Read moreBurberry retail success in challenging environment -UPDATE
15th Jan 2013 07:03
Burberry's retail operation enjoyed a strong run up to Christmas but the company took a hit in its wholesale division and said the global environment would remain challenging. The luxury fashion brand said total revenue rose 9% to £613m in the three months to December 31st. Retail revenue, which
Read moreTuesday preview: Burberry, Spirit Pub Company
14th Jan 2013 15:05
Fashion retailer Burberry looks set to unveil a healthy third-quarter trading update despite a challenging end to 2012. The luxury clothing label's shares have recovered steadily since a sharp fall of around 27% in the week following the firm's second-quarter sales update in September. Shares were
Read moreSwatch buys Harry Winston jewellery arm
14th Jan 2013 11:13
Swatch has purchased Harry Winston's high-end watches-to-necklaces division, according to reports Monday. The Swiss watchmaker is paying $750m for the jeweller to the stars, in an effort to expand its luxury offering. Canada's Harry Winston will turn its focus to its diamond mines. The deal follo
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