Broker 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 moreFerrexpo profits jump as iron ore price soars
3rd Aug 2011 11:10
Sales and profits soared at Ferrexpo in the six months to 30 June as the ferrochrome producer continued to benefit from strong demand for the steel ingredient. EBITDA (Earnings before interest, tax, depreciation and amortisation) rose by 86% from the same period last year to $401m (£246.1m) on reve
Read moreLondon close: Poor start on Wall Street fuels late sell-off
2nd Aug 2011 16:32
A poor start on Wall Street spurred a late decline in London on Tuesday, as the Footsie fell nearly 1% in afternoon trading, despite trading sideward for the majority of the day. The main US equity benchmarks are now trading firmly in the red following worse than expected economic numbers out in t
Read moreSector movers: Metals/mining stocks lower on economic concerns
2nd Aug 2011 13:48
The metals and mining sectors were unwanted on Tuesday on fears over the global economic recovery. Despite the successful passage through the US House of Representatives of the budget deficit reduction bill last night, many have pointed to recent disappointing global manufacturing data and the ongo
Read moreSector movers: Ferrexpo production disappoints
6th Jul 2011 17:32
Ukraine-focused iron ore producer Ferrexpo was a weight on the Industrial Metals & Mining sector after a production update disappointed. Second quarter pellet production from the group's own ore rose by 6.9% in the second quarter from the first quarter's levels. Second quarter pellet production, i
Read moreSector movers: Metals/mining stocks fall on demand worries
16th Jun 2011 15:57
The industrial metals and mining sector is the worst performing sector on Thursday. Resource stocks suffered a bout of profit-taking as fears on global growth continued to dampen the markets, causing concerns over the demand for commodities. Talvivaara Mining, London Mining, Ferrexpo, Toledo Minin
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