UK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 07:57
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0657 GMT [Dow Jones] The replacement of the Australian resource super profits tax with another regime is clearly good news fo
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 06:58
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0558 GMT [Dow Jones] It is not surprising that Australian government's mining super-tax has not progressed in its original f
Read moreMARKET TALK: Still A Long Way To Go For Australian Mining Tax
2nd Jul 2010 06:58
0558 GMT [Dow Jones] It is not surprising that Australian government's mining super-tax has not progressed in its original form, says a trader, considering the criticism directed towards it. Thinks now that the Australian government has negotiated a reduction in the headline rate to 30% from 40%, i
Read moreFTSE 100 movers: Resources companies hold up index
28th Jun 2010 15:27
Mining companies are helping to keep Footsie modestly ahead on the day. Fresnillo, Randgold Resources, Lonmin and Antofagasta are all higher. Recent index entrant Essar Energy is also strong after an initiation note from JPMorgan Cazenove was published with an overwieght rating for the Indian oi
Read moreLondon close: Footsie sinks to two-week low
24th Jun 2010 16:42
An afternoon rally fizzled as Wall St opened lower sending Footsie close to its low for the day. Miners were a poor market all day and ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrata were the big losers on fears of a double-dip recession. Elsewhere in the resource sector oil giant BP said the low
Read moreLondon afternoon: Utilities in demand
24th Jun 2010 14:23
Leading shares continued to pare losses over the lunch time session and though the Footsie remains in negative territory, much of that us due to the weakness of mining stocks. ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrataare the big losers in the sector as concerns about Europe's debt crisis resu
Read moreLondon midday: Stocks off the bottom
24th Jun 2010 12:06
Leading stocks are off their lowest levels but the Footsie remains in the red with little hope of a boost in sentiment from Wall Street, where US stocks are expected to open moderately lower. Mining stocks are out of favour after an initially bright start. Early enthusiasm for miners was engendere
Read moreMARKET TALK: Mining Stocks Attractive On Earnings - Ambrian
24th Jun 2010 11:10
1010 GMT [Dow Jones] The change in Australian leadership might be a small positive but is not the reason Ambrian recommends buying mining shares, it says. The brokerage says: "We recommend buying the miners because we believe the sector offers the best earnings (and dividend) growth on the London St
Read moreLondon open: Stocks in the red
24th Jun 2010 08:49
Having posted quick gains at the start, London's top stocks have reversed into the red. Miners are the main instigators for the decline with 9 out of the top ten fallers from the sector. Kazakhmys, Rio Tinto, Eurasian Natural Resources and Fresnillo are the biggest decliners so far. BP said the lo
Read moreLondon close: US housing data hits shares
23rd Jun 2010 17:03
Disappointing housing data from the US endured that London's leading share index finished firmly in the red. Shares were already sluggish, but turned sharply lower after new home sales in the US dropped 32.7% in May to 300,000 annual rate, the lowest level since recordkeeping began. In the mining
Read moreLondon afternoon: Stocks dip in quiet trading
23rd Jun 2010 14:24
London had an up and down lunch time session with the Footsie ending the period more or less where it started it, in the red. Trading is a bit sluggish, however, and the suspicion is that traders are more interested in this afternoon's crunch World Cup match between Slovenia and England than in th
Read moreFTSE 100 movers: Banks move higher
23rd Jun 2010 14:13
The banks are rising again today even though they were hit by a new tax yesterday. Royal Bank of Scotland and Lloyds are both higher. BP is also heading higher now that Bob Dudley is taking control of the day-to-day handling of the Gulf of Mexico oil leak crisis from chief executive Tony Hayward.
Read moreMARKET TALK: Miners Rise As Australian PM Reportedly Quits
23rd Jun 2010 13:25
1225 GMT [Dow Jones] Miners are on the rise in London after Sky TV reports that the Australian Prime Minister has agreed to resign from his post. Traders note that miners with links to the region are rallying hard. BHP Billiton is +0.6% and Rio Tinto is +0.8%. Furthermore, the FTSE 350 mining sector
Read moreLondon close: Lower finish after budget
22nd Jun 2010 16:40
The budget did little to change the overall direction of the leading share index, which fell in early dealings and remained stuck in the red, though there was movement in specific sectors. A widely expected rise in Capital Gains Tax (CGT) was implemented, with higher rate payers to pay 28% from mid
Read moreSector movers: Supermarkets jump after budget
22nd Jun 2010 15:24
Supermarkets are among the best performing stocks today following Chancellor George Osborne's announcement that VAT will rise to 20% from 17.5%. The measure could squeeze supermarkets' profits by forcing consumers to cut back on expenditure, but the rise will not come into effect until January 4 a
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