London midday: UK stocks up after PBoC raises reference rate, Greece approves bailout
14th Aug 2015 11:48
(ShareCast News) - UK stocks edged higher as China's central bank increased the reference rate and Greece approved a draft bailout package. The People's Bank of China raised the value of the yuan against the dollar by 0.05% after three days of devaluations. The move came as the Bank tried to soothe
Read moreWeek ahead: UK, US inflation reports to add fuel to hike debate
14th Aug 2015 11:34
(ShareCast News) - Several data prints during the coming will add more fuel to debates about interest rates hikes in the UK and US, with inflation figures and Federal Reserve meeting minutes keenly viewed around the world. There will also be a focus on Japan as it begins the week with second quarter
Read moreGlencore completes sale of Xstrata assets for $290m
14th Aug 2015 07:07
(ShareCast News) - Miner Glencore confirmed it has completed the sale of the Tampakan copper project in the Philippines. The company has also sold its stakes in the Falcondo nickel operation in the Dominican Republican and Sipilou nickel project in Ivory Coast. The assets were inherited from Xstrata
Read moreGlencore first-half production mixed; to book impairment and cut capex
13th Aug 2015 07:14
(ShareCast News) - Miner Glencore said it will cut its capital expenditure target for the year and book an impairment charge on the value of its assets in Chad as a result of falling oil prices, as it reported mixed first-half production. The company said that following the sharp decline in oil pric
Read moreLondon pre-open: FTSE expected to open higher
13th Aug 2015 07:12
(ShareCast News) - City sources predict the FTSE 100 will open 47 points higher than Wednesday's close of 6,571.19. European equities are tipped to start with gains this morning to pare back losses made following China's currency devaluation. China's state bank devalued the reference rate for their
Read moreFTSE 100 movers: Slide continues on yuan devaluation
12th Aug 2015 16:36
(ShareCast News) - London's FTSE 100 was down by 1.84% to 6,541.50 at 1620 BST as the devaluation of the yuan continued to drag on stocks. There were only a handful of gainers on the FTSE 100 on Wednesday as oil stocks were flat rather than falling. Spreadex's analyst Connor Campbell said while com
Read moreFTSE 100 movers: Prudential rallies as first-half numbers impress, Burberry slumps on yuan devaluation
11th Aug 2015 14:36
(ShareCast News) - London's FTSE 100 index was down 0.8% at 6,681 at 1500 BST, as the devaluation of the yuan hit the heavily-weighted mining sector. Prudential was the standout gainer after the insurer posted a better-than-expected 17% rise in first-half operating profit and lifted its interim divi
Read moreBroker tips: Aggreko, Balfour Beatty, Glencore
10th Aug 2015 13:06
(ShareCast News) - Temporary power provider Aggreko got a boost after Barclays upgraded the stock to 'overweight' from 'equalweight'. It said the majority of possible bad news has materialised, the revised strategy is sensible and this is likely to prove one of the lowest valuations relative to the
Read moreInvestec downgrades Glencore as it reviews mining sector
10th Aug 2015 10:15
(ShareCast News) - Investec cut Glencore to 'sell' from 'buy' as it revised equity target prices on a number of mining stocks following further weakness in the Chinese economy and downgrades to its commodity price deck. "The increasing problems in China have caused us to reassess our commodity price
Read moreWeek ahead: Data rumbles due to disturb City's summer quiet
7th Aug 2015 13:16
(ShareCast News) - The corporate results season has past its peak and tails off as summer holidays empty out the City, but the week ahead is due to see some big financial news nonetheless, including Eurozone second quarter GDP, a UK labour market update, with US retail sales and industrial productio
Read moreFTSE 100 movers: Old Mutual, housebuilders rally, but miners under the cosh
6th Aug 2015 14:47
(ShareCast News) - London's FTSE 100 index was down 0.2% at 6,740 at 15:00 BST as investors took in 'Super Thursday', which saw the Bank of England deliver its interest-rate decision, minutes and Inflation Report all on the same day. Diversified South African financial group Old Mutual was the stand
Read moreRio, BHP and Glencore upgraded by Liberum as "fair value" reached
5th Aug 2015 11:18
(ShareCast News) - Analysts at Liberum have upgraded mining majors Rio Tinto, BHP Billiton and Glencore as the sector approached "plausible fair value", but reiterated Anglo American's 'sell' rating. Liberum now has a 'hold' rating on three of the FTSE 100 mining giants, with BHP Billiton's given a
Read moreFTSE 100 movers: Intertek surges on first-half numbers but miners slump on China woes
3rd Aug 2015 16:40
(ShareCast News) - London's top-flight index was down 0.3% at 6,676 by 15:55 BST, as worries about a slowdown in China put pressure on the heavily-weighted mining sector. It wasn't all bad, though, with several bright spots on the corporate front. Intertek surged after posting a 16% rise in first-ha
Read moreSector movers: Aerospace and defence stocks lead London market higher
31st Jul 2015 15:50
(ShareCast News) - Aerospace and defence, and media stocks led the London market higher as miners continued to struggle on Friday. The FTSE 100 closed up 0.41% or 27.41 points at 6696.28, while FTSE 250 closed up 0.89% or 156.40 points at 17677.40, with aerospace and defence stocks trading higher.
Read moreFTSE 100 movers: Late gust from US blows Carnival and TUI higher
31st Jul 2015 15:09
(ShareCast News) - The FTSE 100 climbed back into positive territory late in Friday's session, after a mixed day of corporate reports. The blue chip index was up 0.20% to 6,681.97 by 15:05 BST, helped by a late surge from the leisure sector. Cruise operator Carnival sailed to the top of the leader-
Read more