London midday: Markets retreat from six-week high as banks fall
17th Sep 2013 11:23
The upcoming all-important policy decision by the Federal Reserve prompted an element of caution on stock markets across Europe on Tuesday, with the FTSE 100 pulling back from a six-week high. Banking stocks were among the notable fallers in London with Lloyds sinking after the government placed a
Read moreBroker tips: Lloyds, Glencore Xstrata, Bunzl...
17th Sep 2013 11:21
The sale of a six per cent stake in Lloyds by the government was a 'very well-timed' disposal, according to Investec. Investec analyst Ian Gordon said: "We regard the government's timing as impeccable, and it appears credible to suggest that it could yet be out in full by the election." Nevertheles
Read moreBroker snap: Glencore Xstrata downgraded by UBS on price headwinds
17th Sep 2013 09:04
UBS has downgraded its rating for diversified mining giant Glencore Xstrata from 'buy' to 'neutral', raising concerns about the price outlook for the company. The group impressed the market earlier this month at an investor day as it raised its cost cutting and synergy targets (following the merger
Read moreTuesday broker round-up UPDATE
17th Sep 2013 08:56
Aggreko: Credit Suisse reduces target price from 2000p to 1400p and downgrades from neutral to underperform. Antofagasta: WH Ireland downgrades to neutral. Associated British Food: Nomura moves target price from 1650p to 1670p staying with its reduce rating. Aviva: Berenberg downgrades from hold
Read moreLondon open: Banks lead markets lower ahead of FOMC meeting
17th Sep 2013 08:14
Following a strong start to the week, investors turned cautious ahead of the conclusion of the Federal Open Market Committee (FOMC) meeting tomorrow afternoon as markets ready themselves for one of the most closely-watched US policy decisions in recent years, given rising expectations that the Fed w
Read moreLondon close: Markets trim losses to finish flat
13th Sep 2013 16:34
The FTSE 100 trimmed losses on Friday afternoon but markets still finished broadly flat as traders scaled back risk appetite ahead of the weekend with the focus now turning to the Federal Reserve meeting next week. London's benchmark index closed down just 5.18 points at 6,583.80, pulling back slig
Read moreLondon midday: Markets turn lower ahead of Fed, Syria developments
13th Sep 2013 11:58
The FTSE 100 was trading slightly lower on Friday morning, pulling back from yesterday's close of 6,586.08 - its highest closing level since August 13th - as investors await the Federal Reserve policy meeting next week and continue to digest developments in Syria. The heavyweight mining sector was p
Read moreLondon open: Miners pull FTSE 100 back from one-month high
13th Sep 2013 08:38
The FTSE 100 dipped lower on Friday morning with the heavyweight mining sector providing a drag as metals´ prices weakened across the board. London's benchmark index opened with slight losses early on, pulling back from yesterday's close of 6,586.08 - its highest closing level since August 13th - a
Read moreLondon pre-open: Subdued start expected as markets turn cautious ahead of Fed
13th Sep 2013 07:30
UK stocks are expected to open slightly lower on Friday morning as markets continue to pause ahead of the Federal Reserve policy meeting next week. City sources predict the FTSE 100 will open down six points from yesterday's close of 5,586.08. The index has risen to its highest levels in a month bu
Read moreGlencore Xstrata advances Zanaga iron ore project
13th Sep 2013 07:05
Glencore Xstrata announced a revised scope for its Zanaga iron ore project with a changed budget and efforts to finance work. The company said the project feasibility study is now being advanced on the basis of a staged development, substantially reducing the initial capital requirement and includi
Read moreLondon close: Stocks inch higher after choppy session
11th Sep 2013 16:57
Markets were rangebound on Wednesday but managed to eke out small gains by the close of trade as traders digested ongoing developments in Syria and a fall in unemployment in the UK. The FTSE 100, which swung between gains and losses for most of the day, finished just 4.44 points higher at 6,588.43
Read moreFTSE 100 movers: ARM rises on launch of latest Apple iPhones
11th Sep 2013 14:49
Leading today's risers was ARM Holdings, the chip designer, which rose strongly in the aftermath of last night's launch by customer Apple of its new iPhone models. The phones use a new 64-bit processor, which a number of analysts believe will equate to an increased royalty rate to ARM than the 32-bi
Read moreLondon midday: Markets pause after recent gains, UK unemployment falls
11th Sep 2013 11:50
Stocks were trading broadly flat on Wednesday morning with markets rangebound after hitting a four-week high the day before, as traders continued to digest recent developments in Syria after the government agreed to hand over its chemical weapons. The FTSE 100 was swinging between gains and losses
Read moreBroker tips: GlaxoSmithKline, Glencore Xstrata, Whitbread
11th Sep 2013 11:23
Panmure Gordon has kept its positive stance on pharmaceuticals group GlaxoSmithKline, despite recent concerns over rising competition from generic versions of its Advair drug, recommending investors to 'buy' on weakness. The broker said that there are still a number of regulatory process steps and
Read moreBroker snap: Jefferies upbeat about Glencore Xstrata, raises target
11th Sep 2013 09:26
Jefferies has raised its target price for mining group Glencore Xstrata after Tuesday's investor day, the first since the completion of the merger between Glencore and Xstrata back in May. The target price has been raised from 375p to 425p as the broker reiterated its 'buy' rating for the stock. W
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