FTSE 100 movers: Miners lead on the upside as travel stocks continue lower
13th Oct 2014 15:53
Mining stocks gained strongly thanks to broker upgrades and positive economic data out from China which showed that both exports and imports jumped in September, by 15.3% and 7% year-on-year respectively. Over the last few months the sector has registered sharp declines due to mounting concerns abou
Read moreSector movers: Mining stocks rebound after recent drop
13th Oct 2014 13:33
UK-listed mining stocks, which bore the brunt of the recent market sell-off, jumped by an average of 3% on Monday as strong economic data from China prompted investors to hunt for bargains. The FTSE 350 mining sector had by Friday's close fallen by 19% since the end of July as anxieties about slowin
Read moreBroker tips: Randgold, AB Foods, Smith & Nephew, Mining stocks
13th Oct 2014 12:57
Randgold Resources' share price was given a lift on Monday by analysts at UBS who upgraded the stock from 'neutral' to 'buy' after a recent slump in the value of the gold miner. The bank said that it still prefers precious metals peer Fresnillo over Randgold, but reckons that the risk/reward balance
Read moreStick with miners despite short-term pain, Canaccord recommends
13th Oct 2014 10:27
Diversified mining stocks may come under further selling pressure in the short-term, but the long-term story looks positive, according to broker Canaccord Genuity. Analysts recommended investors "build positions in this period of share-price weakness". After recent dramatic falls in metal prices
Read moreMonday broker round-up UPDATE
13th Oct 2014 09:32
Amino Technologies: Northland Capital upgrades to buy with a target price of 100p. Anglo American: Canaccord Genuity initiates with a target price of 1720p and a buy recommendation. Credit Suisse upgrades to outperform with a target price of 1800p. Associated British Foods: Societe Generale upgrade
Read moreLondon open: UK stocks fall for fifth day, but miners advance
13th Oct 2014 08:32
There was no let-up in the selling pressure on Monday as the UK stock market resumed its sell-off despite a strong performance by the mining sector. After falling 2.7% last week, the FTSE 100 was down a further 0.4% at 6,314 in early trading, falling for the fifth session in a row. If the index ends
Read moreSector movers: Cyclicals slump, defensives rise as risk appetite wanes
10th Oct 2014 14:06
Cyclical sectors such as mining and oil services were bearing the brunt of the market sell-off on Friday as fears about a global economic slowdown prompted investors to scale back risk appetite. Mining heavyweights such as Antofagasta, Glencore, Fresnillo and BHP Billiton were all under pressure as
Read moreFTSE 100 movers: Tesco leads risers, but travel stocks slide on Ebola fears
7th Oct 2014 15:40
Supermarkets were continuing to claw their way back after a string of profit warnings and an accounting scandal at Tesco hammered sentiment last month. Shares in the UK's largest retailer were trading nearly 5% higher after the news that the company has asked another senior manager to step down and
Read moreSector movers: Ebola fears hammer travel stocks, but grocers and miners rise
7th Oct 2014 14:19
Fears about the fallout from a potential Ebola outbreak hammered stocks in the travel and leisure sectors on Tuesday with UK-listed airlines and tour operators dropped sharply. In contrast, supermarket and mining stocks were bucking the trend with the two sectors, which have both bore the brunt of t
Read moreLondon midday: Mining gains offset by falls from airline, healthcare stocks
7th Oct 2014 11:36
Poor economic data was weighing on UK stocks on Tuesday, with decent gains in the mining sector offset by falls from airlines and pharmaceuticals. The FTSE 100 was trading 0.6% lower at 6,522 by around midday. Nervousness ahead of the start of third-quarter earnings season in the States was also ca
Read moreLiberum crushes hopes for renewed Glencore approach for Rio Tinto
7th Oct 2014 09:27
Hopes of a renewed Glencore approach for Rio Tinto sent shares in the latter surging on Tuesday, but analysts at broker Liberum reckon that a merger of the two parties won't come to fruition. Rio revealed that it had turned down the advances of Glencore after an approach from the mining and commodit
Read moreLondon open: UK stocks drop despite mining gains
7th Oct 2014 08:27
Strong gains in the UK mining sector weren't enough to keep London's FTSE 100 from slipping into the red on Tuesday morning. Indices across Europe were tracking a weak finish on Wall Street and a mixed performance on Asian markets overnight. The FTSE 100 was trading 0.6% lower at 6,526 within the o
Read moreRio Tinto rejected Glencore approach in August, company reveals
7th Oct 2014 06:45
British-Australian diversified resources group Rio Tinto has revealed that it had turned down the advances of Glencore after an approach from the mining and commodities giant in the summer. The deal would have created the biggest mining company in the world with a market value estimated to be $160bn
Read moreTuesday broker round-up UPDATE
30th Sep 2014 09:50
Aberdeen: Goldman Sachs ups target price from 540p to 560pp retaining a buy recommendation. African Barrick Gold: Deutsche Bank moves target price from 270p to 280p and reiterates a hold recommendation. Investec lowers target price from 260p to 258p, while upgrading to buy. African Minerals: Invest
Read moreGlencore buys 0.4m of its own shares
29th Sep 2014 09:57
Glencore announced that on Friday, the firm purchased over 0.4m Glencore ordinary shares at an average price of 340.85p per share. The highest price and the lowest price paid for these shares were 343.40p and 338.30p respectively. The purchased shares will be held as treasury shares. As of Monday,
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