London close: Resource-heavy FTSE 100 lifted by slowing Chinese inflation
9th Apr 2013 16:37
Slowing inflation in China and a strong start to the US earnings season by Alcoa boosted the UK's resource-heavy FTSE 100 stock index on Tuesday, with miners leading the surge. Meanwhile, a raft of upbeat economic data from closer to the home lifted sentiment in the UK today, including better-than-
Read moreSector movers: Miners gain as Chinese inflation slows
9th Apr 2013 15:42
Mining stocks were the best performers in London on Tuesday on the back of inflation data from China, which showed that price rises had slowed dramatically in March. Chinese consumer-price inflation slowed to a 2.1% annual rate in March, down from 3.2% in February when prices soared on the back of
Read moreFTSE 250 movers: AZ Electronic shares dive on poor Q1 revenues
9th Apr 2013 15:15
Shares in AZ Electronic Materials plunged by almost a third after the chemicals company reported a decrease in first-quarter revenues and warned of a flat year overall. Group revenue fell 2.0% year-on-year to $19.9m for the three months to April 8th, following lower-than-expected sales in its IC Ma
Read moreKenmare Resources shares jump on increased ilmenite production
9th Apr 2013 09:20
Shares in FTSE 250-listed mining and exploration company Kenmare Resources rose on Tuesday after the company reported an increase in its ilmenite and zircon production in the first quarter of 2013. Production of Heavy Mineral Concentrate (HMC) was 189,800 tonnes, up 20.9% from the fourth quarter of
Read moreTuesday broker round-up UPDATE
9th Apr 2013 08:10
African Barrick Gold: Westhouse Securities upgrades from sell to neutral with a target price of 195p. Borders & Southern: Sanlam Securites shifts target price from 86.60p to 87.40p and leaves its buy recommendation unchanged. Britvic: Nomura raises target price from 480p to 540p keeping a buy reco
Read moreLondon close: US retail sales lift markets off lows
13th Mar 2013 17:01
Disappointing production data from the Eurozone dampened stocks on Wednesday morning in London, but a better-than-expected reading of US retail sales saw markets rally off their lows in afternoon trade. The monthly measure of American retail sales increased by 1.1% in February, an acceleration from
Read moreLondon close: Stocks gain as markets shrug off gloomy production data
12th Mar 2013 16:52
In spite of some dismal production data from the UK, the FTSE 100 finished Tuesday's session slightly higher as the benchmark index continues to set fresh five-year highs. Copper producer Antofagasta was providing a lift in London, rising on the back of its strong 2012 results, while IAG gained on
Read moreFTSE 250 movers: Kenmare Resources, IG Group, SDL, St James Place
12th Mar 2013 14:35
Kenmare Resources shares soared after the operator of the Moma titanium minerals mine in Mozambique revealed a considerable rise in profits and revenues. IG Group Holdings advanced as the financial services firm posted an 18% increase in revenues for the third quarter of the 2013 financial year.
Read moreLondon midday: Markets flat despite dismal UK production figures
12th Mar 2013 11:28
The FTSE 100 managed to hold on to recent gains on Tuesday morning as traders shrugged off some disappointing domestic economic figures. London's benchmark is continuing to hover around the 6,500 mark, a level not seen since late 2007 before the financial crisis sparked a sell-off in financial mark
Read moreLondon open: Footsie holding on to five-year highs
12th Mar 2013 09:05
The FTSE 100 opened in cautious manner on Tuesday morning as investors paused for breath after the index hit fresh five-year highs the day before. London's benchmark is now hovering around the 6,500 mark, a level not seen since late 2007 before the financial crisis sparked a sell-off in financial m
Read moreKenmare Resources posts hike in annual profits
12th Mar 2013 08:11
Kenmare Resources, operator of the Moma titanium minerals mine in Mozambique, on Tuesday unveiled a jump in profits and revenues for 2012. Revenues rose to $234.6m from $167.5m the year before while pre-tax profits climbed to $49.5m from $23.7m. Earnings before interest, tax, depreciation and amo
Read moreTuesday broker round-up UPDATE
12th Mar 2013 07:19
Abcam:Investec shifts target price from 484p to 487p and keeps a buy recommendation. Admiral Group: UBS ups target price from 1200p to 1275p and reiterates a neutral rating. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite: Numis reduce
Read moreLondon pre-open: FTSE to track US stocks lower
1st Mar 2013 07:36
City sources predict the FTSE 100 will open down 20 points from yesterday's close of 6,361, tracking losses seen in the US in late trading last night. The decline came after it became clear the automatic budget cuts of $85bn were likely to come into play on Friday after neither a Republican nor a
Read moreKenmare agrees 40m dollar corporate facility
1st Mar 2013 07:03
Kenmare Resources, the titanium feedstock miner, has entered into an agreement with Absa Bank raising 40m dollars of additional debt. This follows an announcement at the end of January when the company said it had extended the period during which operating cashflow generated by the Moma Mine can
Read moreLondon midday: Markets nervous ahead of US GDP, FOMC
30th Jan 2013 11:39
Strong gains for financial stocks were being outweighed by heavy losses in the resources sector in London, with markets trading mixed ahead of a busy day in the US later on. "European markets are looking exhausted, broadly flat as traders continue to refrain from building equity positions after the
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