London close: US retail sales lift markets off lows
13th Mar 2013 17:01
Disappointing production data from the Eurozone dampened stocks on Wednesday morning in London, but a better-than-expected reading of US retail sales saw markets rally off their lows in afternoon trade. The monthly measure of American retail sales increased by 1.1% in February, an acceleration from
Read moreFTSE 250 movers: SDL rebounds after disappointing results
13th Mar 2013 15:46
SDL was on the rebound one day falling on the back of a 19 per cent decline in its profit before tax. Meanwhile, Petropavlovsk declined after Westhouse Securities cut its target price on the stock from 480p to 440p, although it retained a 'buy' recommendation. Ferrexpo also fell after announcing
Read moreLondon open: Ex-div stocks weigh on FTSE 100 early on
13th Mar 2013 08:33
Traders chose to take profits on Wednesday morning, taking advantage of the strong gains seen in previous sessions, with the FTSE 100 pulling back sharply from five-year highs. So far this year, the index has gained nearly 10% and is trading near levels not seen since late 2007. According to Reute
Read moreLondon pre-open: FTSE to track US stocks lower
13th Mar 2013 07:34
City sources predict the FTSE 100 will open down 25 points from yesterday's close of 6,511, tracking losses seen on two of the three key benchmarks in the US. The Nasdaq and S&P 500 both ended Tuesday lower after a series of economic data, combined with congressman Paul Ryan's plan to balance the U
Read moreFerrexpo unveils 38m dollar windfall following enhanced margins
13th Mar 2013 07:04
Ferrexpo, the FTSE 250-listed iron ore pellet producer, has unveiled a special dividend of 6.6 cents per share, amounting to approximately 39m dollars, after disclosing enhanced margins and production in the year ended December 31st. The group reported that its growth projects progressed as planned
Read moreLondon close: Stocks tank after Fed wavers on QE
21st Feb 2013 16:40
Hawkish comments from the Federal Reserve weighed heavily on markets on Thursday with cyclical stocks bearing the brunt of the sell-off as traders looked to book some profits after a strong run in recent months. The FTSE 100 was boosted on Wednesday to highs not seen since January 2008 after minute
Read moreFTSE 250 movers: CSR leaps on strong margins
21st Feb 2013 14:59
Shares of wireless technology firm CSR stormed ahead after it posted record full year revenue and underlying gross margin, boosted its dividend payment and said it expects good growth in core revenues for 2013. Group sales rose 21.1% to £589.5m in the 13 weeks ended January 27th at FTSE 250-listed
Read moreFTSE 250 movers: Imagination Tech rises on Morgan Stanley upgrade
30th Jan 2013 15:56
Chip designer Imagination Tech was a high riser after Morgan Stanley upgraded the stock to 'overweight' and increased its target price from 450p to 570p. PZ Cussons got a boost after JP Morgan upped its target price from 310p to 370p and reiterated a neutral rating. Iron ore pellet producer Ferre
Read moreSector movers: Ferrexpo leads metal stocks lower, US GDP weighs on sentiment
30th Jan 2013 15:19
A poorly-received set of results from iron ore pellet producer Ferrexpo and a surprise contraction in the world's largest economy saw the industrial metals and mining sector slump into the red on Wednesday. Ferrexpo was 5.59% lower at 256.7p in afternoon trade after seeing profits slump in the firs
Read moreBroker tips: Imperial, WPP, Ferrexpo
30th Jan 2013 10:50
Panmure Gordon has retained its 'buy' rating and 2,900p target price cigarette and tobacco group Imperial Tobacco but has raised some concerns after the company noted challenging conditions in some markets in the first quarter. "We remain attracted to Imperial on its valuation; however in order for
Read moreBroker snap: Catalysts around the corner for Ferrexpo, says Seymour Pierce
30th Jan 2013 10:46
Seymour Pierce has reiterated its 'buy' rating for iron ore producer Ferrexpo despite the company revealing a sharp drop in earnings. Shares in Ferrexpo dropped on Wednesday morning after the firm reported that earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 46% year-o
Read moreFerrexpo profits hit by falling demand
30th Jan 2013 08:13
Iron ore pellet producer Ferrexpo saw profits plunge in the first nine months of the year as both prices and demand fell, while costs went up. In the nine months to the end of September, the Ukraine-focused firm reported turnover of $1.08bn, down from $1.31bn the year before. Pre-tax profits came
Read moreWednesday broker round-up - UPDATE
30th Jan 2013 07:03
Alternative Networks: Investec increases target price from 310p to 330p retaining a buy rating. Anglo American: Deutsche Bank takes price target from 2200p to 2260p, while its buy recommendation remains unchanged. Antofagasta: Bank of America reduces target price from 1500p to 1400p and downgrades
Read moreWednesday 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 moreSector movers: Evraz leads industrial metals stocks higher
18th Jan 2013 15:53
Strong gains for steel giant EVRAZ helped push the industrial metals and mining sector to the top of the pile on Friday. Shares in EVRAZ were up 4.39% at 304.2p in afternoon trade despite the company reporting that steel production fell 6.0% from the third to the fourth quarter mainly due to the sc
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