Fresnillo persists with targets despite metals crunch
18th Apr 2013 07:41
Precious metals miner Fresnillo increased production in the last quarter but will now review all expenditure and exploration projects after the recent sharp falls in gold and silver prices. Octavio Alvídrez, Chief Executive Officer of the Mexico-focused group, admitted "the outlook for the precious
Read moreLondon close: Stocks hit by fears over growth, US earnings
17th Apr 2013 16:50
Fears over economic growth and a raft of disappointing earnings in the States weighed heavily on global markets on Wednesday, while a number of heavyweight stocks going ex-dividend dampened the FTSE 100 in London. Bank of America (BofA) was the first major US bank to miss forecasts this earnings se
Read moreFTSE 100 movers: Tullow Oil dives on drilling plans
17th Apr 2013 14:47
Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana. Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no si
Read moreLondon midday: FTSE 100 on track for fourth straight loss
17th Apr 2013 11:39
A number of heavyweight stocks going ex-dividend assured that London's FTSE 100 index was in the red for a fourth consecutive day on Wednesday, while concerns over the global economy continued to weigh on sentiment. Global growth fears have hit markets over the last few days after a surprise slowdo
Read moreLondon open: Ex-div stocks sink markets early on
17th Apr 2013 08:47
The FTSE 100 was in the red for the fourth straight day on Wednesday as a number of ex-dividend stocks provided a drag on London's benchmark index. Global growth concerns have weighed on markets over the last few days after a surprise slowdown was reported in China in the first quarter. These fears
Read moreWednesday broker round-up UPDATE
17th Apr 2013 07:20
African Barrick Gold: Deutsche Bank cuts target price from 230p to 173p, while its hold recommendation is reiterated. Ashmore Group: Morgan Stanley raises target price from 395p to 444p and maintains an equal-weight rating. Ashtead Group: Jefferies increases target price from 615p to 690o and reit
Read moreLondon close: FTSE 100 falls for third day straight despite mining strength
16th Apr 2013 16:33
The resource-heavy FTSE 100 finished Tuesday's session in the red despite some big gains in the mining sector, as concerns about global growth and a disappointing reading of German sentiment provided a drag on sentiment. This marks the third consecutive decline for London's benchmark index. Market
Read moreSector movers: Miners rebound after sell-off
16th Apr 2013 15:13
Mining stocks were on the rebound on Tuesday following a steep sell-off the day before after commodities prices tanked. Disappointing first-quarter growth figures from China caused gold prices to plummet on Monday to a two-year low Reports that Cyprus is selling part of its bullion holdings to rai
Read moreFTSE 100 movers: ARM falls on reaffirmed 'sell' rating
16th Apr 2013 15:06
Chip designer ARM Holdings was the biggest faller after Societe Generale reiterated its bearish 'sell' rating on the stock. That comes on the back of slowing growth trends for the two leading smartphone makers. "We estimate that to justify the current share price ARM needs to maintain over 15 per ce
Read moreLondon midday: Markets extend losses after Boston tragedy, German ZEW survey
16th Apr 2013 11:33
The FTSE 100 looked set to register its third straight decline by Tuesday lunchtime, extending heavy losses made the day before as mining stocks were hammered by slowing growth in China. While miners were doing their best to rebound this morning, markets on the whole were on the cautious side as i
Read moreLondon open: FTSE 100 on track for third consecutive fall
16th Apr 2013 08:23
Mining stocks were making moderate gains on Tuesday morning, attempting to recover after the heavy sell-off the day before, but the FTSE 100 still opened in the red, on track for its third straight day of losses. Markets were on the cautious side this morning as investors awoke to the news of fatal
Read moreTuesday tips round-up: Clarkson, Ladbrokes, Fresnillo
16th Apr 2013 06:58
A recovery in the world shipping market is at hand? Actually, no, it is in the doldrums, or that at least is the general perception. In fact, the ClarkSea index - which typically tracks the broking profits of ship broker Clarkson - is at a two decade low. Nevertheless, the company has been taking co
Read moreLondon close: Stocks, commodities drop after Chinese slowdown
15th Apr 2013 17:04
Worries surrounding the global economy hammered equities worldwide on Monday after disappointing growth figures from China sparked a sell-off across commodity markets and the mining sector. A better-than-expected first-quarter earnings report from US bellwether Citigroup did little to lift sentimen
Read moreSector movers: Miners fall sharply as Chinese growth disappoints
15th Apr 2013 16:05
Mining stocks were tracking commodity prices sharply lower on Monday afternoon as a disappointing reading of Chinese economic growth dampened the demand for 'riskier' assets. As such, defensive sectors were at the top of the pile: stocks that are expected to hold up relatively well during tough eco
Read moreFTSE 100 movers: Fresnillo leads miners lower
15th Apr 2013 15:26
Metals producers were under the weather throughout the day on Monday after the disappointing economic data. Fresnillo and Polymetal were the worst hit, both down over 10 per cent by late afternoon, while Randgold and Evraz weren't far behind. Polymetal was being dragged lower by a downgrade from C
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