Sector movers: Miners rise as Australia repeals controversial MRRT tax
2nd Sep 2014 15:01
Mining stocks were on the rise on Tuesday after Australia's government repealed a controversial tax on mining companies. The Australian Senate has voted to remove the Minerals Resource Rent Tax (MRRT), first introduced by the former Labor government in 2012, which taxes 30% of coal and iron ore min
Read moreFTSE 250 movers: Redrow joins housebuilder slide despite strong results
2nd Sep 2014 14:36
Housebuilders were among the worst performing stocks on the FTSE 250 on Tuesday afternoon as rate-hike speculation continued to dominate sentiment. Data released earlier in the session showed that UK construction activity reached a seven-month high in August. Redrow was even in the red despite beat
Read moreLondon open: Stocks rise amid Ukraine crisis talks
18th Aug 2014 09:14
- Crisis talks in focus in Berlin - UK rates could rise before wage growth sets in, Carney says - Bovis gains after strong growth in H1 profits techMARK 2,780.09 +0.89% FTSE 100 6,734.04 +0.67% FTSE 250 15,757.36 +0.57% UK stocks rose strongly on Monday on the back of a slight reduction in geopoli
Read moreFTSE 250 movers: Oil stocks rise, gold and silver miners fall
15th Aug 2014 14:37
Oil stocks were leading the risers on the FTSE 250 on Friday with Afren, Premier Oil and Enquest making decent gains as oil prices bounced slightly after recent losses. Brent crude was higher after hitting a 13-month low on Thursday. In contrast, precious metal producers such as Centamin, Hochschil
Read moreSector movers: BHP Billiton leads mining stocks higher
15th Aug 2014 13:47
Mining stocks were making decent gains as a return of investor risk appetite and demerger talk surrounding sector giant BHP Billiton provided a boost. An upgrade to UK economic growth estimates for the second quarter and hopes of stimulus measures in Europe and China was driving gains across the Lo
Read moreBroker tips: Smith & Nephew, Centamin, Balfour Beatty, UK motor insurers
15th Aug 2014 12:14
Shares in Smith & Nephew were under pressure on Friday after analysts at Morgan Stanley downgraded the medical devices maker from 'overweight' to 'equal weight' following a recent strong run in the stock. The bank said that even if US peer Stryker returns with a bid in November, the deal "remains
Read moreNumis cuts Centamin to 'hold' on "challenging" output guidance
15th Aug 2014 12:11
Numis Securities has cut its recommendation for Centamin from 'buy' to 'hold', saying that it will be challenging for the Egypt-focused gold miner to hit its full-year output target. Second-quarter earnings per share dropped by 79% year-on-year to just 0.99 cents, the company said this week, well b
Read moreFriday broker round-up UPDATE
15th Aug 2014 09:47
Admiral Group: Berenberg raises target price from 1090p to 1168p, but still recommends selling. Canaccord Genuity reduces target price from 1400p to 1220p keeping a sell recommendation. Centamin: Numis downgrades from buy to hold with a target price of 70p. Direct Line Group: Berenberg shifts targ
Read moreLondon close: Stocks slightly higher as geopolitical risk decreases
14th Aug 2014 17:22
- Putin says seeks to de-escalate tensions with Ukraine - Finnish Prime Minister says EU not preparing further sanctions against Russia - France tosses out 2014 deficit reduction target techMARK 2,749.57 +0.40% FTSE 100 6,685.26 +0.43% FTSE 250 15,675.56 +0.95% Stocks ended the session slightly hi
Read moreFTSE 250 movers: Carillion piles pressure on Balfour Beatty for merger
14th Aug 2014 17:04
Carillion led gains. On Thursday the company piled pressure on rival Balfour Beatty to resume merger talks by revealing that it had held meetings with several of Balfour's major shareholders. The construction group said it had told the investors that the merger could save at least £175m a year by th
Read moreCentamin's first half results were poor as expected, says Shore Capital
14th Aug 2014 13:01
Shore Capital said on Thursday Centamin's first half interim results were "poor as expected". Revenues fell to $205.4m in the first half from $272.4m a year earlier. Net profit came to $31.9m, against $148.5m last year. Shore Capital expected revenues of $208m and net profit of $41.6m. However,
Read moreThursday broker round-up UPDATE
14th Aug 2014 09:39
Admiral Group: Deutsche Bank reduces target price from 1330p to 1260p and maintains a hold recommendation. Balfour Beatty: Deutsche Bank lowers target price from 250p to 245p keeping its hold recommendation. Betfair: Jefferies raises target price from 1175p to 1230p maintaining a buy recommendatio
Read moreLondon pre-open: UK stocks to fall after weak GDP readings in France, Germany
14th Aug 2014 07:53
UK stocks are expected to open in negative territory on Thursday after some disappointing growth data from the Eurozone. City sources predict the FTSE 100 will open around eight points lower than Wednesday's close of 6,656.68. Michael Hewson, chief market analyst at CMC Markets UK, pointed out th
Read moreCentamin unveils maiden dividend, expects strong second half
14th Aug 2014 07:35
- Maiden interim dividend of 0.87 cents declared - Gold production up q/q but down y/y - Earnings fall sharply Egyptian gold miner Centamin has unveiled a maiden interim dividend of 0.87 cents a share despite reporting a dip in profits in the second quarter as the cost of production rose. The comp
Read moreSector movers: Mining stocks lead rebound as risk appetite returns
11th Aug 2014 14:59
Mining stocks were making gains in London on Monday as risk appetite returned after UK equities fell to a four-month low last week. Cyclical sectors such as mining and basic resources had experienced choppy trading in recent weeks as investors sought relatively 'safer' assets which are not as sensi
Read more