Sector movers: Steel and mining stocks rise as futures surge
7th Nov 2016 15:50
(ShareCast News) - Steel and mining stocks paced gains as key commodity futures surged at the start of the week. On 4 November, the local government of China's largest steel city, Tangshan, issued an urgent notice ordering all coking and sintering plants, together with blast furnaces, to halt produc
Read moreMonday broker round-up
7th Nov 2016 11:39
(ShareCast News) - Acacia Mining: JP Morgan keeps at overweight with a target price of 620p. Indivior: Jefferies stays at buy, 450p target. Centrica: Berenberg reiterates buy with a 240p target. South 32: Deutsche Bank reiterates hold with a 122p target. Glencore: JP Morgan keeps at neutral with
Read moreGlencore tightens guidance as production falls in line with targets
3rd Nov 2016 07:54
(ShareCast News) - Glencore slightly increased its full-year trading profit forecast and confirmed production of its panoply of metals and minerals was pretty much as expected. With only three months of the financial year remaining, the commodities giant upgraded the lower end of range its guidance
Read moreSector movers: Macquarie delivers boost for miners
31st Oct 2016 14:32
(ShareCast News) - Media and mining stocks paced gains at the start of the week. Advertising colossus WPP reported that quarterly revenues grew 23.4%, with over 15 percentage points of that growth rate coming from currency translation effects as the pound weakened. Indeed, LFL net sales growth was
Read moreGlencore closes zinc mine after deposit dries up
31st Oct 2016 09:12
(ShareCast News) - Glencore has shut down its zinc mine in Queensland Australia after available resources at the site were depleted. The Mount Isa Mines Black Star open-cut operation in northwest Queensland had been moved to care and maintenance after mining out the existing reserve. The mine began
Read moreUBS upgrades Antofagasta after sharp share price falls
27th Oct 2016 09:34
(ShareCast News) - UBS upgraded Antofagasta, a Chilean copper mining company, from 'sell' to 'neutral' even after the company released a weaker than expected production target for fiscal year 2017, albeit at the same time lowering the price target from 520p to 500p. "After the release of weaker than
Read moreGlencore extends rally after coal contract boost
25th Oct 2016 08:49
(ShareCast News) - Glencore hit a 15-month high on Tuesday after news emerged that it had agreed a much improved coal deal with an important Japanese buyer. The FTSE 100 mining and commodities trading behemoth secured a price just shy of $95 per tonne for high-quality thermal coal from Tohoku Ele
Read moreTuesday newspaper round-up: Deficit, energy warning, Glencore, FCA
25th Oct 2016 07:02
(ShareCast News) - The chancellor's plans to reduce the deficit are unlikely to get back on track this year, an internal briefing document for ministers has revealed. The Treasury document, which was marked "sensitive", also revealed the UK faced a £700m bill after the EU referendum result, with Bri
Read moreGlencore to sell Aussie rail coal haulage business for $1.14bn
20th Oct 2016 07:08
(ShareCast News) - Anglo-Swiss miner Glencore has agreed to sell its rail coal haulage business in New South Wales' Hunter Valley for $1.14bn to Genesee & Wyoming Australia. The FTSE 100 company agreed to sell Glencore Rail, the third largest coal haulage business in Australia, to GWA, subject to ap
Read moreSector movers: Retailers rise to the top
18th Oct 2016 16:17
(ShareCast News) - Retailers led gains in the market, with Tesco and Sainsbury leading the pack north on the heels of the latest sector survey results. During the last three months the former notched up its first market share gain in five years, with sales by 1.3% and market share by 0.1 percentage
Read moreSector movers: Miners pace gains after endorsement from BofA
7th Oct 2016 18:10
(ShareCast News) - Steel producers and miners led to the upside following the release of what several economists dubbed as a "solid" US jobs report, receiving an additional lift in the form of a positive research note on the sector out of analysts at Bank of America-Merrill Lynch. As of 1817 BST, De
Read moreGlencore downgraded by Canaccord to 'hold' from 'buy'
27th Sep 2016 09:14
(ShareCast News) - Canaccord Genuity on Tuesday downgraded its rating on Glencore to 'hold' from 'buy' but lifted its target price to 220p from 215p. Glencore reached a recent high of 212p per share last week, the closest the stock has traded to Canaccord's target price this year, the broker said.
Read moreThursday broker round-up
22nd Sep 2016 13:35
(ShareCast News) - Dunelm: HSBC starts coverage at buy with a target price of 1000p. Brown N Group: UBS keeps at neutral, 190p target. Tesco: Barclays keeps at neutral with a 215p target. Associated British Foods: Credit Suisse reiterates outperform with a 3550p target. BBA Aviation: Barclays kee
Read moreGlencore gallops higher as Liberum bullish on China's coal policy
22nd Sep 2016 11:01
(ShareCast News) - Glencore shares topped 200p for the first time in over a year on Thursday as recent sector gains were amplified as broker Liberum relented on its 'sell' rating. Investor confidence in the mining sector has been lifted in recent weeks thanks to comments from the FTSE 100 giant's ch
Read moreMiners extend rally after bullish Rio Tinto comments on China, copper
20th Sep 2016 10:24
(ShareCast News) - Mining companies extended their recent gains and lifted the market after bullish comments from sector titan Rio Tinto's chief executive about commodity prices and Chinese demand. Talk of an "inflection point" for both commodity prices and the Chinese economy as a whole followed re
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