Sector movers: Industrials metals stocks stumble on global worries
1st Nov 2011 16:26
The Greek referendum announcement and three lots of negative economic data sent miners into a spin on Tuesday. The industrial metals and mining sector was the worst performer of the day, with constituents losing an average of 7.56%. First Quantum Minerals, Talvivaara Mining and Ferrexpo were the wo
Read moreFTSE 250 Movers: Miners fall, Bellway bucks trend
18th Oct 2011 14:33
Bellway was the top riser after it saw its full-year profits come in ahead of market expectations. Profit before tax in the year to the end of July hit £67.2m, up from £44.4m in 2010 and higher than the consensus forecast of £63.8m. However, it was the miners who were the big fallers, dominating t
Read moreFTSE 250 Movers: Upgrade to Ferrexpo sends it higher
14th Oct 2011 12:55
Ferrexpo, was one of the high risers after the firm was upgraded from neutral to buy by UBS. The broker notes that the stock - while being up 34% from the 52-week low of 238.7p on 4 October on the back of mergers & acquisition speculation - is still down 35% from the high of 499p in July. Ophir E
Read moreBroker tips: RBS, Rolls-Royce, Ferrexpo
14th Oct 2011 12:53
Evolution Securities has reiterated its buy rating and 40p target for part-nationalised lender Royal Bank of Scotland (RBS), saying "don't let the facts get in the way of a good story". The broker emphasises that RBS does not need to raise fresh capital due to the following reasons: a core tier one
Read moreBroker snap: UBS upgrades Ferrexpo to buy
14th Oct 2011 12:20
Ferrexpo, which produces iron ore pellets used for making steel, was one of the high risers on the FTSE 250 at midday after the firm was upgraded from neutral to buy by UBS. The broker notes that the stock - while being up 34% from the 52-week low of 238.7p on 4 October on the back of M&A speculati
Read moreUPDATE: Friday broker round-up
14th Oct 2011 08:59
Renishaw: finnCap downgrades from buy to hold, cuts target from 1,775p to 940p. Renishaw: UBS slashes target from 1,350p to 900p, neutral recommendation maintained. Renishaw: Singer Capital Markets slashes target from 1,350p to 900p, fair value rating kept. Royal Bank of Scotland: Evolution Secur
Read moreLondon close: Late surge propels Footsie 3.7% higher
6th Oct 2011 16:35
The Footsie finished at the highest level of the day, with just four stocks in the red, as gains were built on after the opening bell in New York, which saw stocks rise on the back of a better-than-expected unemployment claims report. It was a busy day on the macroeconomic front with policy rate de
Read moreSector movers: Miners lead the surge, Ferrexpo jumps 12%
6th Oct 2011 16:15
The miners were among the best performers on Thursday afternoon, helped higher by surging copper and silver prices. Ukraine-focused iron ore producer Ferrexpo was a notable performer, gaining over 12% on the FTSE 250 after it said that pellet production in August was the second highest in the compa
Read moreFTSE 250 Movers: Exillon Energy leading after oil discovery
6th Oct 2011 14:53
Eastern Europe-focused oil producer Exillon Energy gained more than 15% on its share price after announcing that it has discovered oil at the south-eastern part of the East EWS I field in Russia. Ukraine-focused iron ore producer Ferrexpo wasn't too far behind, jumping over 14%, after revealing tha
Read moreLondon midday: Footsie up 2% as BoE injects more money
6th Oct 2011 12:07
The Footsie has held onto gains following the Bank of England's surprise move to increase its asset purchase programme by a bigger-than-expected £75bn. In an announcement at midday, the central bank revealed that it has maintained its key Bank Rate at the historically low level of 0.5%, but raised
Read moreLondon open: Miners in demand ahead of rate decisions
6th Oct 2011 08:35
Strong gains were made on the Footsie in early trade as investors await key policy rate decisions from the Bank of England (BoE) and the European Central Bank (ECB). Meanwhile, the market extended Wednesday's gains on hopes that the European Union is planning for a co-ordinated recapitalisation of
Read moreBumper output in August for Ferrexpo
6th Oct 2011 08:13
Ukraine-focused iron ore producer Ferrexpo said pellet production in August was the second highest in the company's history at 0.9m tonnes. Reporting on production in the three months to the end of September, Ferrexpo said total pellet production of its own ore increased by 2.8% to 2.33m tonnes in
Read moreLondon close: Miners drag down Footsie
29th Sep 2011 17:07
London was out of step with global stock markets, as it ended the day in the red, despite a bill to expand the European Financial Stability Fund (EFSF) sailing through the Bundestag with ease today. There were just 85 votes against the idea of expanding the Eurozone's bailout fund, while 523 membe
Read moreFTSE 250 Movers: Thomas Cook up despite dropping divi
29th Sep 2011 15:02
Investors clearly approved of Thomas Cook's move to drop its dividend as it seeks to rebuild its balance sheet, as the share price rose almost 10%. Ferrexpo was heading in the opposite direction after Credit Suisse initiated coverage on the iron ore producer with an "underperform" rating, saying i
Read moreLondon midday: No rally for FTSE 100 despite Bundestag vote
29th Sep 2011 12:16
London has failed to join European bourses higher following the passing through the German Bundestag of plans to expand the European Financial Stability Fund (EFSF). There were just 85 votes against the idea of expanding the Eurozone's bailout fund, while 523 members of Germany's parliament voted
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