Broker snap: JPMorgan upbeat on Glencore, downgrades Antofagasta
15th Aug 2013 09:20
JPMorgan Cazenove has named diversified miner Glencore Xstrata its top pick amongst copper producers, while downgrading its rating for Antofagasta. The broker has a bullish outlook for copper, its preferred commodity currently, "with stable through-the-cycle demand, challenging supply-side dynamics
Read moreLondon open: Weak start ahead of US data
15th Aug 2013 08:36
UK stocks slumped in early trading on Thursday as investors awaited a barrage of economic data from the US amid mounting fears of a withdrawal of stimulus by the Federal Reserve. "With the markets having a good run of late, the combination of uninspiring earnings and fears of tapering could create
Read moreLondon close: Markets lower despite better-than-expected Eurozone GDP
14th Aug 2013 17:27
A return to growth in the Eurozone wasn't enough to buoy markets today with the FTSE 100 finishing down 24.51 points at 6,587.43 after a choppy session. Eurozone gross domestic product (GDP) figures showed that the single-currency region exited a recession in the second quarter by expanding 0.3%, a
Read moreFTSE 100 movers: RBS leads banks higher after Fitch report
14th Aug 2013 14:54
Royal Bank of Scotland Group topped the risers on the FTSE 100 on Wednesday after ratings agency Fitch said that a break-up of the state-backed UK lender into a 'good' and 'bad' bank is increasing unlikely as the costs would outweigh the benefits. Part-nationalised counterpart Lloyds was also making
Read moreLondon midday: Stocks flat despite decent data from UK, Eurozone
14th Aug 2013 11:18
The FTSE 100 was continuing to trade more or less flat on Wednesday morning despite economic data from the UK and Eurozone coming in ahead of expectations. "The equity market continues to trade within its recent range this morning as volumes bounce along the bottom and traders struggle for motivati
Read moreLondon open: Subdued start as markets await influx of data
14th Aug 2013 08:23
Markets opened broadly flat on Wednesday as traders showed caution ahead of a barrage of economic reports, including the minutes of the latest Bank of England policy meeting. As well as the minutes, investors will look out for gross domestic product (GDP) figures from the Eurozone, unemployment da
Read moreGlencore Xstrata's copper production grows in first half
14th Aug 2013 07:21
Glencore Xstrata reported a 20 per cent increase in copper production to 673,400 tonnes for the first half. The company, which merged on May 2nd, said output was driven by African copper own sourced production, up 42% over the comparable period to 171,500 tonnes. Production ramp up at Antapaccay a
Read moreLondon close: Footsie gains on upbeat data, Fresnillo jumps
13th Aug 2013 16:57
Upbeat data from home and abroad gave the FTSE 100 a lift on Tuesday, with precious metals group Fresnillo leading the heavyweight mining sector higher in London. Markets briefly dipped into negative territory in afternoon trade after US retail sales came in slightly below expectations, though a la
Read moreLondon midday: Stocks cement gains after German ZEW data
13th Aug 2013 11:21
Decent gains in the mining sector and well-received results from FTSE 100 insurer Resolution were providing markets with a boost on Tuesday morning with the upbeat mood helped by decent data from Germany. The German ZEW survey showed that the economic sentiment index jumped from 36.3 to 42 in Augus
Read moreLondon open: Resolution leads markets higher ahead of economic data
13th Aug 2013 08:44
Markets gained strongly on Tuesday morning with insurance firm Resolution providing a lift ahead of a flurry of economic data due out later on, as stocks rebounded strongly following a relatively quiet session the day before. On the schedule for today is consumer sentiment figures in Germany, UK in
Read moreTuesday broker round-up UPDATE
13th Aug 2013 07:45
Aviva: Nomura increases target price from 414p to 474p reiterating its buy recommendation. BBA Aviation: Jefferies raises target price from 290p to 345p and keeps a buy recommendation. Braemar Shipping Services: Westhouse Securities takes target price from 450p to 515p and retains a buy recommenda
Read moreLondon close: Markets finish lower despite mining strength
12th Aug 2013 16:44
Markets were choppy on Monday with early gains on the FTSE 100 being erased by the end of trade as traders reacted to mixed newsflow from Asia and Europe. Even a strong performance in the heavyweight mining sector wasn't enough to push the London benchmark into positive territory today, with Financ
Read moreLondon close: Stocks jump as optimism over China grows
9th Aug 2013 16:34
Markets rallied strongly on Friday as economic data from the world's top metals consumer, China, sparked some impressive gains in the heavyweight mining sector. A day after trade figures came in ahead of expectations, the outlook for China brightened further with strong industrial production figure
Read moreSector movers: Chinese data boosts mining stocks
9th Aug 2013 15:08
Upbeat economic data from China boosted share prices in the mining sector on Friday as the outlook improved for the world's top metals consumer. Miners were extending gains made on Thursday after Chinese trade figures were well received by the market with both imports and exports smashing forecasts
Read moreFTSE 100 movers: Mining stocks advance after China data
9th Aug 2013 13:12
Mining companies rallied after a slate of upbeat Chinese data eased worries of a slowdown in the world's second largest economy. Fresnillo and Glencore Xstrata were the top risers followed by Randgold Resources, Anglo American and Rio Tinto. Vodafone Group edged higher after announcing it would l
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