Broker 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
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 moreFTSE 250 movers: African Barrick Gold plunges
8th Jan 2013 15:38
Canadian miner Barrick Gold has abandoned plans to sell its majority stake in London-listed African Barrick Gold (ABG) to a Chinese buyer, causing shares to plunge. In August, Barrick announced it had entered into discussions with China National Gold Group Corporation to sell its 73.9 per cent stake
Read moreFerrexpo increases annual pellet production from own ore
8th Jan 2013 08:27
Ferrexpo, the FTSE 250 iron ore company with assets in Ukraine, has posted a 2.6 per cent increase in annual pellet production from own ore at 9.3m tonnes, compared to 9.1m tonnes in 2011. Total pellet production in 2012 was 9.7m tonnes, down 0.1m tonnes compared to 2011, which it attributed to lo
Read moreLondon close: Stocks fall as 'fiscal cliff' deadline looms
17th Dec 2012 16:40
Increasing optimism surrounding budget talks between US politicians may have helped the FTSE 100 come off its intraday low, but the index was stuck firmly in negative territory with markets remaining nervous ahead of the January 1st deadline. Without a deal, the $600bn in automatic spending cuts a
Read moreFTSE 250 movers: Centamin rebounds as gold exporting resumes
17th Dec 2012 16:03
Egypt-focused gold mining and exporting company Centamin surged after confirming that the halt by customs on gold exports from Sukari has been lifted and a shipment was made on Sunday December 16th. Centamin's shares took a battering last week when it said that it has been forced to suspend mining
Read moreLondon close: Stocks pare gains after US ISM data
3rd Dec 2012 16:52
- US manufacturing sector in contraction - Chinese and India data lifts markets early on - Banking fall after BoE FLS details The FTSE 100 index was set to finish Monday's session with decent gains until a worse-than-expected reading of US manufacturing caused markets across Europe to trim gains by
Read moreFTSE 250 movers: C&W Comms jumps after disposal
3rd Dec 2012 15:41
Cable & Wireless Communications surged on Monday after agreeing to sell the majority of its businesses in its Monaco & Islands division as it attempts to scale back its geographic footprint and pay down debt. CWC is selling the assets to Bahraini telecoms firm Batelco Group for an enterprise value
Read moreFriday broker round-up UPDATE
30th Nov 2012 07:24
Aggreko: Berenberg initiates with a target price of 2010p and a hold recommendation. APR Energy: Berenberg starts with a target price of 610p and a sell recommendation. Babcock International Group: Berenberg initiates with a target price of 1180p and a buy recommendation. Barclays: UBS raises tar
Read moreLondon close: Stocks rise on low volumes
22nd Nov 2012 16:52
- Trading light as US celebrates Thanksgiving - Focus shifts to EU summit - SABMiller jumps; 'Glenstrata' merger approved With trading volumes light owing to Thanksgiving, upbeat Chinese manufacturing data saw UK markets finish Thursday's session with decent gains in spite of the ongoing uncertaint
Read moreSector movers: EVRAZ and Ferrexpo lift industrial metals sector
22nd Nov 2012 16:01
Industrial metals and mining stocks were the best performers on Thursday afternoon after hopes for demand increased following the upbeat economic data from China. The 'flash' HSBC Chinese purchasing managers' index (PMI) for the month of October came in at 50.4, up from 49.5 for the previous month.
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