Sector movers: Miners and oil service firms pace gains
19th Sep 2016 16:22
(ShareCast News) - Miners were pushed higher by rising prices for metals and positive comments from some top brokers. Contributing to the price action, analysts at Credit Suisse bumped up their 2017 price projections for thermal and coking coal, from $55 and $94 per tonne to $60 and $119, respective
Read moreBroker tips: Weir, RBS, Glencore
19th Sep 2016 16:17
(ShareCast News) - Engineer Weir got a boost on Monday as JPMorgan Cazenove upgraded the stock to 'overweight' from 'underweight' and lifted the price target to 1,775p from 1,220p, highlighting 18% upside to the revised price target. JPM said that despite the lack of earnings upgrades, Weir has been
Read moreGlencore rallies on Credit Suisse upgrade
19th Sep 2016 11:40
(ShareCast News) - Credit Suisse upped Glencore to 'outperform' from 'neutral' and nudged up the price target to 220p from 210p. The bank said that since it downgraded the stock back in July, the sector has been range-bound but the lift in coal prices gives it more confidence in the deleveraging and
Read moreSunday newspaper round-up: Fed, China, Glencore, Diageo, National Grid
18th Sep 2016 16:31
(ShareCast News) - Traders are betting that the US Federal Reserve will stand pat on interest rates this week, despite warnings that rising inflationary pressures could persuade the US central bank to hike. The Sunday Times reported that investors were assuming the flurry of weaker-than-expected eco
Read moreSunday newspaper round-up: Fed, China, Glencore, Diageo, National Grid
18th Sep 2016 16:31
(ShareCast News) - Traders are betting that the US Federal Reserve will stand pat on interest rates this week, despite warnings that rising inflationary pressures could persuade the US central bank to hike. The Sunday Times reported that investors were assuming the flurry of weaker-than-expected eco
Read moreGlencore gains as China data lifts copper
14th Sep 2016 09:23
(ShareCast News) - As copper prices came off their four-month lows thanks to anticipation of improved Chinese demand, Glencore was lifted to the top of the FTSE 100 on Wednesday morning. London prices for the red metal tested three-week highs as China's factory output and retail sales increased fast
Read moreFTSE 100 movers: Miners dive as banks, insurers progress
31st Aug 2016 16:25
(ShareCast News) - Mining stocks were headed lower in an overall negative session on the FTSE 100, with gold and three-month industrial metals prices southbound as silver and copper eased ahead. Anglo American faded, having on Tuesday completed the sale of its Foxleigh mine interest, while both f
Read moreTuesday broker round-up
30th Aug 2016 09:24
(ShareCast News) - Glencore: Jefferies reiterates hold with a target price of 180p. British American Tobacco: UBS maintains buy with a 5300p target. Smiths Group: Barclays reiterates overweight with a 1300p target. South 32: Exane BNP Paribas reiterates outperform with a 130p target. Diageo: Bere
Read moreLondon close: Miners pull equities lower as commodity prices fall
24th Aug 2016 16:20
(ShareCast News) - UK equities finished on the back foot on Wednesday as mining shares slumped on weak sentiment and falling commodity prices. "Commodity prices suffered at the hands of a resurgent dollar today, with Fresnillo and Randgold Resources feeling the effects of a circa 1% drop in gold pri
Read moreGlencore to keep cutting debt, eyes return to dividend payments
24th Aug 2016 07:12
(ShareCast News) - Glencore held out the prospect of a return to dividend payments in 2016 as management promised to focus on delivering even lower levels of net funding and debt by the end of the year than previously indicated and provided investors with an update on its asset disposal programme. O
Read moreLondon close: Blue-chip miners, banks push FTSE higher as house builders fly
23rd Aug 2016 15:58
(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that
Read moreLondon close: Stocks taper as sterling, commodity prices lose traction
19th Aug 2016 16:08
(ShareCast News) - UK stocks whimpered to a lower close on Friday as sterling lost traction on renewed Brexit fears and commodity prices headed south. The spectre of the Lisbon Treaty's Article 50 rose once more, following a media report that claimed UK Prime Minister Theresa May was sympathetic to
Read moreFTSE 100 movers: house builders, miners sag as easyJet firms
19th Aug 2016 14:32
(ShareCast News) - London's FTSE 100 tiptoed lower as a string of house builders sagged amid lingering concerns about the UK real estate market, and several miners slumped alongside metals prices. House builders were led lower by Persimmon, Taylor Wimpey and Barratt Developments, investors exiting t
Read moreBroker tips: Gem Diamonds, Glencore, KAZ Minerals
19th Aug 2016 10:17
(ShareCast News) - RBC Capital Markets downgraded Gem Diamonds to 'sector perform' from 'outperform' and slashed the price target to 130p from 170p. The bank said the investment thesis for Gem revolves around the Letseng mine in Lesotho. It said the Ghaghoo mine in Botswana is a drag on valuation,
Read moreMacquarie downgrades Glencore to neutral, awaiting guidance
19th Aug 2016 07:44
(ShareCast News) - Macquarie downgraded its recommendation on shares of Glencore to 'neutral', telling clients that the commodity trader's "impressive debt reduction is now largely priced-in". However, analysts Alon Olsha and James Oberholzer bumped up their target price on the stock from 180p to 20
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