Fresnillo on track to hit silver guidance, sets new gold target
15th Oct 2014 07:37
Mexican precious metals group Fresnillo said that silver production was flat over the third quarter, while the output of gold slipped. However, the company maintained its guidance for silver production and actually increased its target for gold, after factoring in more volumes from the recent buyout
Read moreLondon midday: Weak economic data and earnings sink stocks
14th Oct 2014 12:10
A wave of disappointing corporate updates and worse-than-expected data from the Eurozone pushed UK stocks firmly into the red on Tuesday, as concerns about the global economy continued to weigh on sentiment. The FTSE 100 was down 0.7% at 6,322 by midday, as gains in the mining sector were offset by
Read moreFTSE 100 movers: Miners lead on the upside as travel stocks continue lower
13th Oct 2014 15:53
Mining stocks gained strongly thanks to broker upgrades and positive economic data out from China which showed that both exports and imports jumped in September, by 15.3% and 7% year-on-year respectively. Over the last few months the sector has registered sharp declines due to mounting concerns abou
Read moreSector movers: Mining stocks rebound after recent drop
13th Oct 2014 13:33
UK-listed mining stocks, which bore the brunt of the recent market sell-off, jumped by an average of 3% on Monday as strong economic data from China prompted investors to hunt for bargains. The FTSE 350 mining sector had by Friday's close fallen by 19% since the end of July as anxieties about slowin
Read moreRandgold shares worth a 'buy' after recent falls, says UBS
13th Oct 2014 10:01
Randgold Resources' share price was given a lift on Monday by analysts at UBS who upgraded the stock from 'neutral' to 'buy' after a recent slump in the value of the gold miner. The bank said that it still prefers precious metals peer Fresnillo over Randgold, but reckons that the risk/reward balance
Read moreLondon open: UK stocks fall for fifth day, but miners advance
13th Oct 2014 08:32
There was no let-up in the selling pressure on Monday as the UK stock market resumed its sell-off despite a strong performance by the mining sector. After falling 2.7% last week, the FTSE 100 was down a further 0.4% at 6,314 in early trading, falling for the fifth session in a row. If the index ends
Read moreSector movers: Cyclicals slump, defensives rise as risk appetite wanes
10th Oct 2014 14:06
Cyclical sectors such as mining and oil services were bearing the brunt of the market sell-off on Friday as fears about a global economic slowdown prompted investors to scale back risk appetite. Mining heavyweights such as Antofagasta, Glencore, Fresnillo and BHP Billiton were all under pressure as
Read moreLondon open: Sell-off continues as UK stocks fall
10th Oct 2014 08:20
The selling pressure continued on Friday morning as UK stocks opened at their lowest levels over the year, with ongoing concerns about the global economy sparking further volatility across equity markets. The post-Federal Reserve minutes bounce proved short-lived on Thursday, as early gains were qui
Read moreLondon close: Stocks end in the red amid downbeat economic data
9th Oct 2014 16:15
London shares ended Thursday on a low note as more economic gloom in Europe overshadowed hints of delays to US interest rate rises. The FTSE 100 closed 50.39 points adrift at 6431.85 after downbeat economic news in the UK and mainland Europe, which included a report showing that German exports in Au
Read moreSector movers: Miners track metals higher after Fed minutes
9th Oct 2014 14:50
Mining stocks were leading the gains on London's stock market on Thursday as metal prices advanced amid hopes that the US Federal Reserve will not rush to raise interest rates. A dovish set of minutes from the latest Federal Open Market Committee meeting sparked a steep fall in the dollar on Wednesd
Read moreBroker tips: HSBC, Vodafone, Wood Group, Centamin, Miners
9th Oct 2014 13:03
Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending. "We are mightily encouraged by evidence of returning risk appetite. We upgrade to 'add' from 'hold' and our target price to 650p from 620p," the broker said. Vodafone's recent share-price outperformance mean
Read moreThursday broker round-up UPDATE
9th Oct 2014 09:27
African Barrick Gold: Numis reduces target price from 330p to 270p keeping its hold recommendation. Antofagasta: Numis upgrades to hold with a target price of 700p. Aureus Mining: Numis lowers target price from 45p to 40p staying with its buy recommendation. Boohoo: Barclays initiates with a targe
Read moreNumis cautious on metals and miners but picks Fresnillo, Randgold, Petra
9th Oct 2014 08:46
Although it remained cautious on the mining sector as a whole, Numis picked out Randgold Resources, Fresnillo and Petra Diamonds as the gems in its quarterly metals and mining report. With share prices hit hard in the third quarter by the continued slide in iron ore and gold prices, the broker expec
Read moreSector movers: Basic resource shares slide on dollar strength
6th Oct 2014 13:53
Oil and basic resource stocks bore the brunt of selling on Thursday, as markets continued to react to the better-than-expected economic data trickling in from the States with the concomitant robustness in the US dollar which that entails. US durable goods orders declined 18.2% in August following a
Read moreSector movers: Broker commentary buoys miners
6th Oct 2014 13:45
Better-than-expected economic data Stateside and the prospect of further easing from the European Central Bank lent support to the shares of mining and basic resource companies on Wednesday. Positive broker commentary and a small up-tick in risk aversion as the US and its allies carried out a first
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