Centamin Egypt boss buys again
22nd Sep 2011 14:30
The chairman of FTSE 250-listed gold miner Centamin Egypt Josef El-Raghy has doubled his personal stake in the company, taking more than £550,000 of shares. He took 500,000 at 110.9p a time and now has a personal holding of 1m shares. However, including "his connected persons" El-Raghy has 71.2m s
Read moreLondon close: Miners, banks lead the surge
30th Aug 2011 16:32
The FTSE 100 traded higher on Tuesday, following through on this morning's impressive start, as the index attempted to play catch-up after missing out on yesterday's rally due to the Bank Holiday. Royal Bank of Scotland led the risers on the blue chip index after Deutsche Bank upped its rating for
Read moreCentamin Egypt profits rise despite setbacks
30th Aug 2011 07:41
Egyptian gold miner Centamin posted a sharp rise in profits in the half year to 30 June, despite disruptions, as it benefited from continuing rises in prices for the precious metal. Pre-tax profits soared to $104.3m from $32m on revenues that rose to $167.4m from $87.2m. The company produced a tot
Read moreWednesday tips round-up: Barclays, Centamin Egypt, Cookson...
3rd Aug 2011 06:46
On the face of it, Barclays' interim figures were reassuring. Strip out the £1 billion insurance mis-selling bill and the absurd distraction caused by own-debt valuation, and the bank produced a respectable 24 per cent improvement in profits. Like all banks, Barclays faces serious headwinds from adv
Read moreLondon close: Poor start on Wall Street fuels late sell-off
2nd Aug 2011 16:32
A poor start on Wall Street spurred a late decline in London on Tuesday, as the Footsie fell nearly 1% in afternoon trading, despite trading sideward for the majority of the day. The main US equity benchmarks are now trading firmly in the red following worse than expected economic numbers out in t
Read moreFTSE 250 Movers: Moneysupermarket.com flying high
2nd Aug 2011 12:37
Moneysupermarket.com is flying high after its share price soared after announcing a sharp incline in profits. After sponsoring the hit TV show 'Britain's Got Talent', Moneysupermarket.com has maintained its status as one of the country's best known price comparison websites and posted a sharp rise
Read moreLondon midday: Stocks fall back after flat start
2nd Aug 2011 12:16
Stocks are in negative territory now as investors digest a raft of company statements against a backdrop of ongoing worries about the debt situation in the US and in Europe. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in
Read moreBroker tips: HSBC, Rotork, Centamin
2nd Aug 2011 11:39
RBS has downgraded its rating on global banking giant HSBC from buy to hold and lowers its target price from 750p to 640p, due to uncertain economic conditions in the US and Europe. "The prospect of slowing economic growth in the US and Europe delays the all-critical gradual rise in US policy rates
Read moreBroker snap: Ambrian optimistic despite disappointment at Centamin
2nd Aug 2011 11:06
Ambrian has maintained its buy rating on gold miner Centamin Egypt despite the group slashing its full-year output estimates on Tuesday. While analyst Adam Kiley does indeed call the downgrade in forecasts "disappointing", he notes that in Ambrian's recent research note on Centamin, the broker high
Read moreCentamin Egypt cuts production guidance
2nd Aug 2011 08:52
Gold miner Centamin Egypt has cut its gold production for the full year after import restrictions on products it needs to conduct operations held back output in the second quarter. It has cut its full-year output estimate to 200,000 to 210,000 ounces from a previous prediction of 250,000 to 290,000
Read moreLondon open: Barclays boosts FTSE 100 but miners suffer
2nd Aug 2011 08:28
The top share index has edged higher amid a mixed reception for today's stream of company results. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in the first stage of a two-step process designed to avoid the country default
Read moreLondon open: International Power makes gains
11th Jul 2011 08:32
The Footsie opened up higher but fell into the red in early trading as two giants weighed up the effects of an Australian climate change proposal. International Power opened strongly to lead the risers after responding to the proposed climate change plan in Australia. Under the proposed plan to red
Read moreCentamin offers £7.5m for Sheba
11th Jul 2011 07:59
Egypt-focused gold miner Centamin Egypt has made a £7.48m offer for PLUS-quoted miner Sheba Exploration. The 6.15p-a-share offer represents a premium of 124% to its closing price on Friday (2.75p), and has been unanimously recommended to Sheba shareholders by the company's board, Centamin said. Sh
Read moreFTSE 250 movers: Victrex jumps on soaring profits
24th May 2011 16:28
Victrex is among the best performers after the plastics group said profit surged 57% and sales volumes rose 22% in the last six months after a strong performance in all of its major markets. Due to MITIE's underperformance against the peer group, Peel Hunt upgraded its rating on the outsourced ser
Read moreFTSE 250 movers: Profits jump at MITIE
23rd May 2011 15:42
Outsourced service provider MITIE is the highest riser of the day after posting a sharp rise in profits for the year to 31 March. Pre-tax profits jumped to £86.8m from £79.7m the previous year on revenues that were up to £1.89bn from £1.72bn. "The opportunities in outsourcing and energy services in
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