Wednesday broker round-up UPDATE
23rd Jan 2013 07:05
Aberdeen Asset Management: Societe Generale downgrades to hold, while its target price of 375p is not altered. Amara Mining: Investec reduces target price from 89p to 83p and reiterates a buy recommendation. Associated British Foods: Jefferies raises target price from 1365p to 1650p keeping a hold
Read moreLondon close: Markets flat after choppy session
22nd Jan 2013 16:32
Stock markets finished more or less flat on Tuesday afternoon after a volatile session, in which investors digested policy announcements in Japan and mixed newsflow in Germany. "A rather choppy morning session in Europe gave way to a rather more sedate afternoon session as US traders returned to th
Read moreFTSE 100 movers: Fresnillo dragged lower by fourth quarter results
22nd Jan 2013 15:12
Precious metals miner Fresnillo was a heavy faller after fourth quarter gold production came in 20.6 per cent lower than 2011. This stood in stark contrast to full year output, which totalled 473,034 ounces, up 5.4 per cent year-on-year and above the 460,000-ounce target. Sector peer Polymetal was a
Read moreLondon midday: Markets volatile ahead of US earnings
22nd Jan 2013 12:01
Markets were volatile in morning trade on Tuesday as traders reacted to mixed newsflow from Germany, though stocks remained in negative territory following an underwhelming policy announcement from Japan. According to market analyst Craig Erlam from Alpari, trading volumes are expected to pick up t
Read moreLondon open: Markets down as BoJ disappoints
22nd Jan 2013 08:35
UK stocks opened slightly lower on Tuesday morning after the Bank of Japan's (BoJ) policy announcement overnight failed to live up to expectations. After a two-day meeting, the BoJ set a 2.0% inflation target and pledged to embark on a Fed-style unlimited asset purchase programme. Meanwhile, the ce
Read moreFresnillo tops gold production targets
22nd Jan 2013 07:02
Mexican miner Fresnillo said gold production had exceeded expectations in 2012 after its Noche Buena mine performed better than forecast. The annual gold production of 473,034 ounces, up 5.4% year on year, was above the 460,000 ounce target, also aided by the ramp-up at the Saucito mine. However,
Read moreWednesday broker round-up UPDATE
9th Jan 2013 09:11
African Barrick Gold: Deutsche Bank reduces target price from 520p to 490p and reiterates a hold recommendation. Nomura cuts target price from 525p to 435p and downgrades from buy to neutral. African Minerals: Deutsche Bank increases target price from 606p to 620p and maintains a buy rating. AMEC:
Read moreLondon close: Stocks rally after US data
4th Jan 2013 16:42
- Footsie closes at highest level in nearly two years - US non-farm payrolls and ISM data provides a boost - BP gains after Transocean settlement with US government London's stock market started 2013 strongly in the aftermath of the fiscal cliff deal in the US on New Year's Day, with the FTSE 100 g
Read moreSector movers: Fresnillo leads miners lower
4th Jan 2013 16:19
Mining stocks were under heavy selling pressure on Friday afternoon as the sector pulls back after a decent performance over the past month. Even including today's 1.05% average drop, mining stocks have jumped around 10% over the last 30 days. Precious metals miner Fresnillo was hammered today, le
Read moreFTSE 100 movers: BP is strongest riser after Transocean accepts fine
4th Jan 2013 15:08
BP, which rose early on following news the company which loaned it the Deepwater Horizon rig back in 2010 had agreed a 1.4bn dollar settlement for the part it played in the gulf of Mexico oil spill that followed the fatal explosion of the rig. Speaking of Transocean's settlement, BP said: 'In settli
Read moreLondon midday: Markets cautious ahead of US jobs data
4th Jan 2013 11:39
Stocks were trading broadly flat on Friday morning with just 10 points separating the FTSE 100's intraday low and high, with markets showing caution ahead of the US employment report out in the next few hours. The Footsie began today's session in the red as investors digested last night's release o
Read moreBroker tips: Fresnillo, RBS, M&S
4th Jan 2013 11:35
Shares in precious metals miner Fresnillo were hammered on Friday morning on the back of a downgrade by UBS from 'buy' to 'neutral' after the stock's recent strength. Since September 10th 2012, Fresnillo has gained 7% while silver prices have fallen 9%. This compares with the average fall for silve
Read moreBroker snap: UBS downgrades Fresnillo after outperformance
4th Jan 2013 10:48
Shares in precious metals miner Fresnillo were hammered on Friday morning on the back of a downgrade by UBS from 'buy' to 'neutral' after the stock's recent strength. Since September 10th 2012, Fresnillo has gained 7% while silver prices have fallen 9%. This compares with the average fall for silve
Read moreLondon open: Stocks pull back after FOMC minutes
4th Jan 2013 08:20
Following a 150-point surge over the last two days, the FTSE 100 pulled back in early trading on Friday following the release of the minutes of the latest Federal Reserve meeting last night. While there was a clear majority in favour of further asset purchases (the third round of quantitative easin
Read moreLondon open: Stocks open strongly on fiscal cliff hopes
28th Dec 2012 08:33
The FTSE 100 opened firmly in positive territory on Friday morning ahead of critical talks between US leaders this weekend. Stocks tracked Asian markets higher overnight with Japan's Nikkei finishing its final session of 2012 up around 0.7% (Japanese markets are closed on Monday). This means that t
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