London open: Stocks hit by weak data from Japan, China and Germany
8th Dec 2014 09:19
A steeper-than-expected recession in Japan and poor data from China and Germany dampened market sentiment on Monday, with UK stocks starting the week on the back foot. London's FTSE 100 was trading 0.5% lower at 6,712 early on after closing out last week at 6,742.84, its highest close since 21 Novem
Read moreRio Tinto CEO says Glencore a "poor strategic match"
5th Dec 2014 09:16
Rio Tinto's chief executive Sam Walsh has attempted to ward off a new approach from smaller rival Glencore, but admitted he is not pursuing a major acquisition to beef up its defence from a potential takeover. The mining groups were in discussions in July regarding a potential merger, but Rio decide
Read moreBroker tips: Sage, Glencore, Debenhams
4th Dec 2014 12:14
Sage's shares were extending gains on Thursday after the accountancy software group impressed the market with its annual results, with the stock given a boost by target price upgrades at both Citigroup and Credit Suisse. Citi raised its target for the shares from 450p to 475p and kept a 'buy' rating
Read moreLiberum downgrades Glencore to 'sell' on weak coal outlook
4th Dec 2014 09:37
Liberum has lowered its recommendation on commodities trader and mining giant Glencore from 'hold' to 'sell', saying it is "going cold on coal". "Despite Glencore's estimated deficit of 50m tonnes in 2016, it is difficult to be confident on price recovery when coal is so severely challenged on any t
Read moreThursday broker round-up
4th Dec 2014 08:46
Aberdeen: Charles Stanley downgrades to 'hold'. Afren: Canaccord reduces target price from 115p to 65p, while staying with its 'speculative buy' recommendation. Amino Technologies: Northland moves target price from 120p to 130p and retains a 'buy' recommendation. Belgravium Technologies: WH Irelan
Read moreLondon open: Resource stocks drag FTSE 100 to lowest in over two weeks
1st Dec 2014 08:33
The UK stock market started the new week on the back foot after yet more disappointing economic data from China dampened sentiment, with shares in the mining and oil sectors falling sharply. The official purchasing managers index (PMI) for China came in below expectations at an eight-month low, addi
Read moreMerger of Rio Tinto and Glencore is inevitable, says UK banker
25th Nov 2014 10:15
Glencore is inevitably set to takeover Rio Tinto to create the world's largest mining group, according to sector-merger expert Ian Hannam. "If not today, this deal will happen sometime in the near future," said Hannam, a former J.P. Morgan Chase & Co. dealmaker and commodity-merger expert, told more
Read moreSector movers: Mining stocks rally on Chinese stimulus, but defensives fall
21st Nov 2014 15:20
A surprise interest-rate cut in China saw equity markets surge on Friday with cyclical mining stocks benefiting and defensive stocks feeling the brunt from an increase in risk appetite. Cyclical sectors are those that are closely and positively correlated to economic activity and, in the case of the
Read moreFTSE 100 movers: Miners jump as China cuts interest rates, oil stocks rise
21st Nov 2014 15:03
Mining stocks were dominating the risers list on the FTSE 100 on Friday after China's central bank surprised with an interest-rate cut in an effort to boost growth, raising hopes that the top metals consumer will be able to avert a hard landing. Anglo American, Fresnillo, BHP Billiton, Rio Tinto, An
Read moreLondon midday: UK stocks surge on PBoC stimulus, ECB hopes
21st Nov 2014 12:00
UK stocks jumped on Friday as resources shares raced ahead after China's central bank surprised the market with its first interest-rate cut in two years in an effort to boost growth. After falling for the last two sessions, the FTSE 100 was up 0.8% at 6,733 by midday with the heavyweight mining and
Read moreLondon open: Oil and mining stocks push FTSE higher early on
21st Nov 2014 08:35
The UK stock market rebounded on Friday morning after two days of declines, as mining shares recovered after recent losses. Concerns about slumping iron-ore prices - currently trading at five-year lows - and slowing growth in China weighed heavily on the heavyweight resources sector in London on Thu
Read moreSector movers: Miners sideswiped as Chinese manufacturing stagnates
20th Nov 2014 14:32
UK-listed mining stocks were bearing the brunt of the selling pressure on Thursday as disappointing economic data from across the globe - China in particular - hit market sentiment. Resource shares, often sensitive to news-flow from top metals user China, took a hit when it emerged that the nation's
Read moreFTSE 100 movers: Miners hit by weak data, but Babcock and Johnson Matthey jump
20th Nov 2014 14:00
Mining stocks were suffering steep losses on Thursday as a wave of disappointing economic data prompted investors to scale back their appetite for risk. Figures from top metals consumer China in particular were weighing on sentiment, as its manufacturing sector stagnated in November. Rio Tinto, Angl
Read moreLondon open: Resource stocks drag FTSE lower, but Eurozone data impresses
14th Nov 2014 08:28
UK stocks pulled back from their highest levels in a month and a half on Friday, though the downside was being limited by some rare positive economic data from the Eurozone. Figures released on Friday morning showed that both Germany and France returned to growth in the third quarter, reassuring the
Read moreLondon midday: Mining stocks push FTSE 100 to five-week high, Serco drops
10th Nov 2014 11:27
UK stocks started the new trading week on the front foot with mining shares resilient despite some mixed economic data from China overnight. However, Serco was the standout mover with the FTSE 250 outsourcing stock losing as much as a third of its value after a profit warning and proposed rights iss
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