Thursday broker round-up
3rd May 2012 09:15
Afren: finnCap downgrades from buy to hold. Carnival: Shore Capital upgrades from hold to buy. CSR: Jefferies reiterates buy rating and 290p target. Fenner: Credit Suisse downgrades from outperform to neutral, target cut from 540p to 480p. Ferrexpo: Renaissance Capital upgrades from hold to buy.
Read moreFerrexpo to buy up to 500 rail car wagons
20th Apr 2012 13:39
Ferrexpo has conditionally agreed an option to purchase up to 500 newly built closed rail car wagons. The wagons are priced between $70,000 and $110,000 each, exclusive of value added tax, and the pries are adjustable according to each consignment to reflect their current market price. The maximum
Read moreRising cash costs a worry at Ferrexpo
20th Apr 2012 08:01
Switzerland-headquartered iron ore company Ferrexpo saw first-quarter production rise in the first quarter of 2012, compared with the same period the year before, but cash costs increased significantly. As announced earlier this month, total pellet production from own ore increased by 6.3% year-on-
Read moreSector movers: Industrial miners shrug off Chinese data
13th Apr 2012 15:12
Industrial metals and mining stocks were the best performers of the day despite some worse-than-expected economic data from China. Gross domestic product (GDP) growth in China slowed to an annual rate of 8.1% in the first quarter of 2012, according to the National Bureau of Statistics, down from th
Read moreFTSE 250 movers: Miners up on Chinese stimulus speculation
13th Apr 2012 14:29
Mining stocks Kenmare and Ferrexpo were on the up after Chinese GDP data came in below expectations, which sent rumours flying around that the 'weak' (by Chinese standards) growth may prompt the central bank to boost the economy by launching new stimulus measures. Burkina Faso-focused gold miner A
Read moreLondon midday: Risk appetite increases as banks, miners advance
11th Apr 2012 12:08
- Footsie back above 5,600 after sell-off - Banks, miners among best performers on Footsie - Michael Page unwanted on FTSE 250 After a tentative start, the Footsie was firmly higher by lunchtime on Wednesday, rebounding after yesterday's mass sell-off on the back of worries over the US jobs market
Read moreLondon open: Cautious start after yesterday's sell-off
11th Apr 2012 08:27
- Miners rebound after steep losses yesterday - Eyes on Spanish yields as industrial output slips - BT falls after downgrade The Footsie swung between gains and losses on Wednesday morning after closing at a four-month low the day before. The blue chip index lost 2.24 per cent on Tuesday to finish
Read moreLondon close: Footsie sinks to 2012 low
10th Apr 2012 16:56
- Miners suffer sell-off on macro-economic concerns - US jobs data dampens sentiment - Randgold bounces back after Malian settlement London's FTSE 100 index slumped to its lowest levels in 2012 on Tuesday as investors had a four-day weekend to digest a gloomy US jobs report out on Friday. Just a ha
Read moreFerrexpo sees production ease in 2012
10th Apr 2012 07:20
Iron ore miner Ferrexpo has reported a fall in total pellet production in the first three months of 2012 but saw the production of higher grade ore increase slightly. Total pellet production declined by 3.3% in the first quarter to 2.26m, down from 2.34m in the fourth quarter. Production of 62% F
Read moreSector movers: Metals/mining stocks tumble after FOMC statement
4th Apr 2012 15:55
The industrial metals and mining stocks were the worst performers of the day on Wednesday as commodity prices took a tumble on the back of comments from the US central bank. Last night's minutes from the latest meeting of the Federal Open Market Committee showed that members had become less incline
Read moreLondon open: Stocks slip after QE3 hopes fade
4th Apr 2012 08:21
- ECB to hold rates - Pearson and host of ex-div stocks fall - Kentz drops after major shareholder slashes stake UK stocks fell into the red on Wednesday morning after the US Federal Reserve quashed speculation that it would start another round of quantitative easing (QE) in the near-future. US be
Read moreFerrexpo's long-running shareholder dispute drags on
4th Apr 2012 07:15
FTSE 250 iron ore miner Ferrexpo has announced that its bid to move a long-running shareholder dispute from Ukrainian courts to the UK has been denied. The dispute relates to the ownership of Ferrexpo Poltava, the iron ore deposit in central Ukraine. According to Reuters, the company believes it ow
Read moreFTSE 250 movers: Essar rises as subsidiary makes progress
30th Mar 2012 15:43
Essar Energy was a big riser after it said that its subsidiary Essar Oil has made significant progress with its lenders towards exiting the current loan agreement, which relates to the corporate debt restructuring scheme and its Vadinar oil refinery in Gujarat. Miners were also on the rise as they
Read moreLondon midday: Stocks rise as eyes turn to Eurozone meeting
30th Mar 2012 11:42
- Investors keep a close eye on meeting in Copenhagen - Eurozone inflation falls but still high - Miners lead the rise by lunchtime The Footsie was making decent gains by Friday lunchtime, snapping a three-day losing streak, as Eurozone ministers meet in Copenhagen to discuss a potential increase i
Read moreTuesday tips round up: Ferrexpo, Berkeley, Pittards...
20th Mar 2012 06:50
In the Telegraph, Questor gives Ukrainian iron ore producer Ferrexpo a polish and decides it scrubs up rather well. The company has shifted focus from Eastern European markets and now sells more to China and the growing economies of Asia. There is risk, especially as the Chinese juggernaut appears
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