FTSE 100 movers: Miners sink while oil companies recover slightly
15th Dec 2014 14:48
Anglo-Australian miner BHP Billiton dipped following a downgrade at RBC Capital Markets to 'underperform' from 'sector-perform'. Other mining companies, including Fresnillo, Randgold Resources and Glencore, were also hit by a forecast of an extended period of low iron ore prices, due to over-supply
Read moreLondon midday: Stocks steady ahead of US data
15th Dec 2014 11:15
UK stocks were holding higher ahead of a week full of potential risk events. Significantly, on Sunday Bloomberg reported that Libya was forced to declare "force majeure" at two of its ports, Es Sider and Ras Lanuf, which have a combined capacity to export 560,000 barrels of oil per day. Somewhat ir
Read moreLondon open: Stocks bounce back with oil after Libyan port closures
15th Dec 2014 08:19
After an initial drop the FTSE 100 Index recovered to trade slightly in the black, led by oil companies' shares. Over the weekend the United Arab Emirates' energy minister, Suhail Al-Mazrouei, said the Organisation for Petroleum Exporting Countries (OPEC) would be willing to withstand a drop in the
Read moreJohnson Matthey sells gold and silver refining business for £118m
15th Dec 2014 07:10
Chemical firm Johnson Matthey has agreed to sell its gold and silver refining business to Asahi Holdings for £118m in cash. The business, based in the US and Canada, refines primary and secondary gold and silver materials and reported sales of £44m in the financial year ended 31 March. "The divestm
Read moreSector movers: Chemical stocks rise as broker upgrade lifts Croda
1st Dec 2014 15:15
The chemical sector was the best-performing category in London on Monday with Yorkshire-based Croda International providing a lift after an upgrade from Deutsche Bank. Deutsche Bank lifted its rating for Croda from 'hold' to 'buy' and hiked its target price from 2,350p to 2,800p, causing shares to a
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 moreBroker tips: Babcock, Johnson Matthey, Great Portland Estates
20th Nov 2014 13:07
Engineering support services group Babcock International's interims were "very solid", Investec analyst John Lawson said in a research note on Thursday. "The group continues to successfully replenish its order book (an ongoing challenge for any outsourcing group) and yesterday's announcement with re
Read moreJohnson Matthey's H1 beat should underpin forecasts, says Liberum
20th Nov 2014 12:38
First-half results from Johnson Matthey came in well ahead of consensus estimates and should reassure investors who were worrying about full-year forecasts, according to broker Liberum. Revenue totalled £4.8bn in the six months to 30 September, down 25% on a reported basis, mainly owing to a 32% dro
Read moreLondon midday: UK stocks fall as global PMI data dampens sentiment
20th Nov 2014 11:45
The UK stock market slumped on Thursday as a wave of disappointing economic data and speculation about a looming interest-rate hike in the States prompted investors to tread cautiously. London's FTSE 100 was down 0.7% at 6,649 by midday, with the heavyweight mining sector providing a drag as figures
Read moreLondon open: Manufacturing PMIs, FOMC minutes push UK stocks lower
20th Nov 2014 08:31
Weak economic data from China and the Eurozone and a hawkish set of Federal Reserve minutes pushed UK stock markets lower on Thursday morning. The FTSE 100 in London was trading down 0.3% at 6,675 in early deals. The preliminary HSBC purchasing managers' index (PMI) for Chinese manufacturing releas
Read moreLondon pre-open: Stocks set to slip after FOMC minutes
20th Nov 2014 07:58
UK stocks are expected to fall slightly on Thursday morning as investors react to the latest set of minutes from a policy meeting at the Federal Reserve. City sources predict the FTSE 100 will open around eight points lower than Wednesday's close of 6,696.60. Minutes from the late-October Federal O
Read moreJohnson Matthey H1 revenues fall, but full-year outlook improves
20th Nov 2014 07:09
Although first-half revenue dropped by a quarter at Johnson Matthey after the loss of a major contract with Anglo American Platinum (Amplats), the chemical and sustainable technologies group lifted its dividend by 9% after profits improved. The FTSE 100 company also lifted its full-year guidance sli
Read moreLondon open: Stocks move higher ahead of US FOMC
29th Oct 2014 09:26
Wednesday's session is expected to see a continuation of the previous day's gains, ahead of the latest policy decision announcement by the Federal Open Market Committee (FOMC), this evening. As of 09:20 the FTSE 100 was trading around 23 points higher than Tuesday's close at 6,432. The gains were b
Read moreLondon pre-open: FTSE to rise ahead of Fed decision
29th Oct 2014 07:44
Wednesday's session is expected to see a continuation of the previous day's gains, ahead of the latest policy decision announcement by the Federal Open Market Committee (FOMC). City sources predict the FTSE 100 will open around 29 points higher than Tuesday's close of 6,402.17. The gains were being
Read moreCredit Suisse notes weak demand for chemicals, Johnson Matthey falls
8th Oct 2014 09:29
Shares in UK-listed Johnson Matthey, Croda International and Alent were weighed down on Wednesday by comments by Credit Suisse, which slashed its estimates across the European chemicals sector on the back of poor demand. Ahead of a wave of third-quarter results from the sector, the bank said it has
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