London open: Footsie holding on to five-year highs
12th Mar 2013 09:05
The FTSE 100 opened in cautious manner on Tuesday morning as investors paused for breath after the index hit fresh five-year highs the day before. London's benchmark is now hovering around the 6,500 mark, a level not seen since late 2007 before the financial crisis sparked a sell-off in financial m
Read moreLower silver prices impact Fresnillo's full-year profits
12th Mar 2013 07:37
Profit contracted by 19 per cent to 845m dollars for the year ended December 31st at FTSE 100 gold and silver producer Fresnillo. In its financial results for the year, the group said that the impact on profit was mostly due to four things: lower silver price; anticipated lower ore grades at the Fr
Read moreLondon pre-open: Stocks to dip on UK house price index decline
12th Mar 2013 07:29
City sources predict the FTSE 100 will open down seven points from yesterday's close of 6,504, knocked by news that the UK house price balance dropped to a seasonally adjusted -6 per cent in February, compared to expectations of a rise to -2 per cent (from -4 per cent in January). In the US stocks
Read moreLondon open: Political uncertainty in Italy hammers stocks
26th Feb 2013 08:25
Election results in Italy prompted in a sell-off across European stock markets on Tuesday morning after the country was thrown into a political deadlock. The centre-left party led by Pier Luigi Bersani appears to have won the lower house by a narrow margin though the there was an inconclusive vote
Read moreFriday broker round-up UPDATE
22nd Feb 2013 07:12
Antofagasta: RBC upgrades from underperform to outperform. Ashmore Group: Citigroup raises target price from 330p to 355p upgrading to neutral. JP Morgan ups target price from 361p to 413p and maintains a neutral rating. Babcock International: Citigroup revises target price from 965p to 1185p and
Read moreLondon close: Stocks gain as BoE divided on QE
20th Feb 2013 16:40
Gains were trimmed by the close of trade on Wednesday as heavy falls in the insurance and mining sectors partially offset earlier optimism about further stimulus from the Bank of England (BoE). RSA Insurance was leading the fallers on the FTSE 100 after a surprise cut to its dividend, while preciou
Read moreSector movers: Insurers and miners take a hit
20th Feb 2013 15:21
Insurance and resources stocks were taking a hit on Wednesday with some heavy falls from RSA weighing on the insurance sector and falling metals prices dampening the mining category. Full-year results from RSA came in broadly in line with analysts' estimates, but a 33% reduction in the dividend sur
Read moreFTSE 100 movers: RSA dives after firm unveils dividend cut
20th Feb 2013 15:13
Full-year results from RSA Insurance were largely in line with estimates, with extreme wet weather in the UK and earthquakes in Italy contributing to a 5.9 per cent fall in operating profit. However, shares tanked after the firm unveiled a 33 per cent cut in its annual dividend due to the likelihood
Read moreSector Movers: Miners drag on FTSE
18th Feb 2013 16:09
Industrial Metals & Mining proved to be the worst performing sector on Monday, dragged lower by weaker metal prices. Gold futures dropped 1.59% to $1,609.50 per troy ounce on Monday afternoon, dragging the likes of Fresnillo lower. Platinum lost 1.94%, while silver dropped 1.66%. By Monday afte
Read moreFTSE 100 movers: ITV climbs on takeover speculation
18th Feb 2013 15:42
ITV rose on continuing speculation that the group is close to a takeover. The stock has been the subject of market chatter to that effect on a number of occasions in recent times. With rather more substance, ITV's family net advertising revenues (NAR) could rise by between 8% and 14% in March accord
Read moreLondon close: Stocks flat as caution sets in ahead of G20 statement
15th Feb 2013 16:43
Better-than-expected economic data from the States helped the Footsie erase its earlier losses on Friday afternoon, though the mood on markets was still cautious ahead of an announcement from the Group of 20 meeting in Moscow. Market analyst Craig Erlam from Alpari said that "traders opt[ed] to wai
Read moreFTSE 100 movers: ITV given boost by Nomura
15th Feb 2013 15:41
ITV shares soared after Nomura raised its target price on the stock to 130p from 125p before. WPP Group also got a boost after Morgan Stanley increased its target price from 912p to 1090p and retained an equal-weight rating. Mining giant Anglo American was a high riser this morning despite record
Read moreLondon midday: Markets plateaux but Anglo American gains after results
15th Feb 2013 11:45
Stocks were trading within a narrow range on Friday morning ahead of the G20 meeting in Moscow and the release of key economic indicators in the States this afternoon. Delegates plan to discuss traditional issues such as the global economic outlook, implementation of the G20 framework agreement for
Read moreBroker tips: Anglo American, TUI Travel, Precious metal miners
15th Feb 2013 10:57
Jefferies is 'becoming more positive' on Anglo American after the mining giant reported better-than-expected results for 2012 on Friday morning, but kept its 'hold' rating for the stock. "While we have been concerned about structural cost pressures in South Africa, operational challenges in most of
Read moreBroker snap: Fresnillo, Randgold and Petropavlovsk hit by downgrades from Citi
15th Feb 2013 09:15
Citi Research has downgraded its ratings for mining peers Fresnillo, Randgold and Petropavlovsk as part of its review into the precious metals sector. "We have for some time been expressing caution both about the future trend of precious metals prices and about the premium valuations on gold and si
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