London midday: ECB, political uncertainty in focus as stocks fall
2nd Oct 2013 11:27
The FTSE 100 suffered steep losses on Wednesday morning as buyers showed caution ahead of a policy decision in Europe, whilst political uncertainty in the US and Italy continues to erode risk appetite. The all-important European Central Bank (ECB) policy decision is due at 12:45 this afternoon, tho
Read moreBroker snap: Citi cuts ratings for Randgold, Fresnillo and Polyus
2nd Oct 2013 09:42
Citigroup has downgraded its ratings for UK-listed precious metal miners Randgold Resources, Fresnillo and Polyus Gold, raising concerns over current pricing and valuations. In a research report on Wednesday, the US bank said: "We are bearish on gold and silver shares for two reasons: firstly, we a
Read moreWednesday broker round-up UPDATE
2nd Oct 2013 08:02
Advanced Medical Solutions: N+1 Singer shifts target price from 84p to 90p and upgrades from sell to hold. Afren: Nomura lowers target price from 180p to 170p and retains a neutral rating. Aveva: Panmure Gordon raises target price from 2174p to 2374p and keeps a hold recommendation. Barclays: Soc
Read moreLondon close: Stocks finish flat as markets digest US shutdown, data
1st Oct 2013 16:25
Stocks in the UK finished broadly flat on Tuesday as investors gave a subdued reaction to the news of the first partial US government shutdown in 17 years. Indices across Europe and the States however edged higher today, with London's FTSE 100 bucking the trend given some sharp falls in the heavywe
Read moreFTSE 100 movers: easyJet climbs on Citigroup comments
1st Oct 2013 15:10
Budget airline easyJet was a high riser today after analysts at Citigroup said they expect full-year profits to be "near the upper-end of previous guidance". The company said in July that pre-tax profit would be between £450m to £480m; Citi's forecast is £474m. Shares in betting group William Hil
Read moreSector movers: Miners track metals lower after US shutdown
1st Oct 2013 15:06
Metals and mining stocks were falling sharply on Tuesday as a political stalemate in the US prompted a reduction in risk appetite. Meanwhile, falling commodity prices and gloomy comments on gold from ratings agency Fitch were also weighing on sentiment. The first partial government shutdown in 17
Read moreLondon close: Stocks at one-month low on looming US shutdown
30th Sep 2013 16:36
Stocks were firmly lower on Monday as risk appetite was reduced in the face of a looming partial shutdown of the US government after a weekend of no progress in Washington. Political instability in Italy also dampened the mood today as well as disappointing economic data from China, with falls in t
Read moreFTSE 100 movers: Miners weigh heavily after Chinese data disappoints
30th Sep 2013 14:19
Mining stocks declining sharply today on the back of the disappointing data from the world's top metals user, China. Fresnillo, Anglo American, Antofagasta, Glencore Xstrata and Rio Tinto were all falling sharply. China´s manufacturing sector purchasing managers´ index (PMI) for the month of Septe
Read moreLondon midday: Miners drag FTSE 100 to one-month low
30th Sep 2013 11:42
Concerns over a potential government shutdown in the US, political chaos in Italy and disappointing economic figures from China sparked steep falls on equity markets across Europe on Monday morning, with the FTSE 100 slipping to levels not seen in a month. The FTSE 100 was trading around 0.85% lowe
Read moreLondon open: US and Italian politics weigh on risk appetite
30th Sep 2013 08:44
Political uncertainty in the US and Italy along with disappointing economic figures from China weighed heavily on risk appetite on Monday morning with mining stocks bearing the brunt of the selling. The FTSE 100 opened around 0.8% lower at 6,458.29 in early trading; the last time it closed lower wa
Read moreLondon close: Stocks sink to three-week low on policy uncertainty
27th Sep 2013 16:32
A cautious start turned into a market-wide sell-off by the close of trade on Friday as nervous investors booked profits ahead of the weekend. The UK's benchmark FTSE 100 index finished 52.93 points lower at 6,512.66, its worst closing level in three weeks. The last time it closed lower was on Septe
Read moreSector movers: Miners bear brunt of market sell-off
27th Sep 2013 15:20
Mining stocks were bearing the brunt of the market-wide sell-off on Friday as traders adopted a cautious approach ahead of the weekend. Commodity prices were higher across the board today but that wasn't enough to increase investors' appetite for risk as the resource-heavy FTSE 100 dropped 1% in af
Read moreThursday broker round-up UPDATE
26th Sep 2013 08:22
African Barrick Gold: Deutsche Bank ups target price from 137p to 145p and maintains a hold recommendation. African Minerals: Macquarie reduces target price from 307p to 280p and reiterates an outperform rating. Deutsche Bank cuts target price from 450p to 423p, while its buy recommendation is kept
Read moreFTSE 100 movers: Carnival continues to fall on poor Q3 results
25th Sep 2013 15:23
Cruise operator Carnival was a heavy faller for the second day in a row after the company disappointed with its third-quarter results and guidance for the full year. Morgan Stanley downgraded its rating on the stock this morning from 'equalweight' to 'underweight' and cut its full-year earnings pe
Read moreLondon close: Stocks up but gains limited on Fed uncertainty, mixed data
24th Sep 2013 16:31
Markets closed slightly higher on Tuesday afternoon after a choppy day though upside was limited as investors focused on mixed data and the uncertain future for Federal Reserve monetary policy. Last week's surprise decision by the Fed to maintain its stimulus programme is still fresh in investors'
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