London 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
Read moreBroker tips: HSBC, Standard Chartered, Man Group, Ferrexpo
29th Sep 2011 12:09
UBS has cuts its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earning
Read moreBroker snap: Credit Suisse slaps "underperform" rating on Ferrexpo
29th Sep 2011 11:03
Credit Suisse has initiated coverage on the iron ore producer Ferrexpo with an "underperform" rating, saying it sees strong growth from the sector but pointing to the strong performance of Ferrexpo's share price lately. It has a 380p target price on the stock. It notes that Ferrexpo "is one of the
Read moreSector movers: Metals and mining stocks suffer sell-off
12th Sep 2011 15:34
Just one sector was making gains on Monday, as UK stocks were not immune to the global sell-off due on the back of renewed fears over the Eurozone crisis. The technology hardware and equipment sector was the best performing sector, lifted higher by chip-making peers Imagination Technologies and ARM
Read moreLondon close: Footsie tumbles over 2%
2nd Sep 2011 16:30
The Footsie finished over 2% down on Friday, as London was not immune from the global sell-off, meaning that just eight out of the 100 blue chips stocks closed in the blue. After a poor start in early trade, sentiment was dampened after a worse-than-expected jobs report in the US which showed that n
Read moreNew credit facility for Ferrexpo
2nd Sep 2011 14:49
Ukrainian iron ore pellet producer Ferrexpo has secured a new credit facility of $420m at a rate two and a quarter points above the London interbank offer rate (LIBOR). The credit facility will initiallt remain undrawn but can be drawn at any time during the loan term which has a maturity of five
Read moreLondon midday: Stocks stuck lower ahead of jobs data
2nd Sep 2011 12:27
London's leading share index is firmly in the red now, giving up gains from earlier this week ahead of the big US jobs report due this afternoon. The eagerly awaited headline results from a clinical trial comparing AstraZeneca's cholesterol treatment Crestor to Pfizer's Lipitor have been released,
Read moreLondon open: Stocks give up gains ahead of US jobs report
2nd Sep 2011 08:26
Stocks have given up some of their recent gains amid nervousness ahead of this afternoon's big US jobs report. Among the fallers is drugs behemoth AstraZeneca, which has announced generally favourable results of tests of its cholesterol treatment, CRESTOR, though not the knock-out blow versus LIPIT
Read moreLondon pre-open: Heavy falls anticipated
2nd Sep 2011 07:18
Taking their lead from Wall Street, which closed lower ahead of today's August jobs data, London' leading shares are set to open well in the red, with City traders predicting the Footsie will open 82 points down from yesterday's close of 5,419. Drugs behemoth AstraZeneca has announced generally fav
Read moreSector movers: Miners/metals sold off on economic woes
18th Aug 2011 14:52
A Morgan Stanley report on economic growth weighed on sentiment in global markets on Thursday, with every sector in London reporting losses. Worst of all were the industrial metals and mining stocks, which were the poorest performers in the afternoon. The global recovery path is now more "bumpy, be
Read moreThursday tips round-up: Rightmove, Legal &General, Taylor Wimpey
4th Aug 2011 06:49
The phenomenon that is Rightmove chalked up another rock-solid performance in the six months to June. The online property advertising platform seems unstoppable. The shares are a strong hold, even on a gloomy view of the economy and the housing market. Investors of a more sunny disposition should bu
Read more