Sector movers: ENRC leads miners lower as US GDP disappoints
26th Apr 2013 15:08
Demand concerns weighed heavily on the mining sector on Friday after it was revealed that the US economy grew less than expected in the first quarter of 2013. American gross domestic product (GDP) expanded by just 2.5% in the first three months of the year, rebounding after a meagre 0.4% increase i
Read moreFTSE 100 movers: Miners in retreat
26th Apr 2013 14:01
Heavyweight mining stocks were in the red today as risk appetite declined ahead of the US. ENRC, EVRAZ, Rio Tinto, Anglo American, Fresnillo, Antofagasta and Glencore were among the worst performers. ENRC was the biggest faller after Business Secretary Vince Cable was called upon to launch an offi
Read moreLondon midday: Miners fall ahead of US growth figures
26th Apr 2013 12:08
Stocks in the UK slipped on Friday morning as traders took profits after a three-day winning streak with markets nervous ahead of economic growth data from the United States this afternoon. The US Commerce Department is expected to reveal that gross domestic product (GDP) in the world's largest eco
Read moreLondon open: Markets nervous ahead of US GDP data
26th Apr 2013 08:41
Markets opened in negative territory on Friday morning as eyes turned to the all-important reading of first-quarter economic growth in the US. The US Commerce Department is expected to reveal later on that gross domestic product (GDP) in the world's largest economy expanded at a 3.0% pace in the fi
Read moreSector movers: Miners rise on ECB stimulus hopes
24th Apr 2013 16:04
Increasing hopes of an interest-rate cut in the Europe spurred investor appetite for risk on Wednesday, boosting the miners to the top of the pile. Gloomy figures from the Ifo institute this morning showed that the deterioration of the German economy continued this month with its headline business
Read moreFTSE 100 movers: Standard Life soars after beating analyst expectations
24th Apr 2013 15:09
Insurance giant Standard Life was a strong riser after beating analysts' predictions in the first quarter after delivering strong sales and group assets under administration. The group recorded a 24% increase in long-term savings sales to £6.3bn and a 26% increase in long-term savings net flows to
Read moreWednesday broker round-up UPDATE
24th Apr 2013 08:25
Archipelago Resources: Canaccord Genuity lowers target price from 75p to 68p keeping a buy recommendation. ARM Holdings: Morgan Stanley ups target price from 911p to 925p maintaining an equal-weight rating. Deutsche Bank takes target price from 445p to 460p, but still recommends selling. Citigroup
Read moreFTSE 100 movers: Randgold Resources jumps higher
22nd Apr 2013 16:04
Randgold Resources was a strong riser - particularly compared to the rest of its sector - gaining after Blackrock upped its stake in the group to 14.1 per cent, marginally higher than the 14 per cent it previously owned. An increase in risk appetite was benefiting financial stocks today with banki
Read moreMonday newspaper round-up: Glencore, ENRC, Lloyds...
22nd Apr 2013 06:44
Glencore has made millions of pounds by selling goods to Iran, including to a group that indirectly supplies the country's nuclear programme, reports The Guardian. However, the commodities trader has said that it ceased transactions prior to EU sanctions being put in place. The Financial Times says
Read moreLondon close: FTSE 100 falls for third day straight despite mining strength
16th Apr 2013 16:33
The resource-heavy FTSE 100 finished Tuesday's session in the red despite some big gains in the mining sector, as concerns about global growth and a disappointing reading of German sentiment provided a drag on sentiment. This marks the third consecutive decline for London's benchmark index. Market
Read moreSector movers: Miners rebound after sell-off
16th Apr 2013 15:13
Mining stocks were on the rebound on Tuesday following a steep sell-off the day before after commodities prices tanked. Disappointing first-quarter growth figures from China caused gold prices to plummet on Monday to a two-year low Reports that Cyprus is selling part of its bullion holdings to rai
Read moreFTSE 100 movers: ARM falls on reaffirmed 'sell' rating
16th Apr 2013 15:06
Chip designer ARM Holdings was the biggest faller after Societe Generale reiterated its bearish 'sell' rating on the stock. That comes on the back of slowing growth trends for the two leading smartphone makers. "We estimate that to justify the current share price ARM needs to maintain over 15 per ce
Read moreXstrata CEO to step down, others follow lead
16th Apr 2013 12:52
Mick Davis, the Chief Executive Officer of mining giant Xstrata, has announced that he will not take up the six-month position in the same role in the soon-to-be merged Glencore and Xstrata. When the merger takes place - currently expected on May 2nd - Davis will step down from Xstrata, but will s
Read moreLondon midday: Markets extend losses after Boston tragedy, German ZEW survey
16th Apr 2013 11:33
The FTSE 100 looked set to register its third straight decline by Tuesday lunchtime, extending heavy losses made the day before as mining stocks were hammered by slowing growth in China. While miners were doing their best to rebound this morning, markets on the whole were on the cautious side as i
Read moreGlencore, Xstrata rise on reports of merger approval from China
16th Apr 2013 09:27
Glencore International and Xstrata saw their shares surge on Tuesday as the companies were said to be close to clearing the final regulatory hurdle in their multi-billion-dollar merger. The mining companies were expected to agree to concessions this week to soothe Chinese fears over its control on
Read more