Petra Diamonds warns of full year profit concerns
26th Jan 2015 07:57
Diamond mine operator Petra Diamonds saw sales jump by 16% in the first six months of the year, to reach $214.8m, but warned that it may not meet analysts' expectations for full-year profits. The miner's increased sales in the period was in part thanks to the sale of two exceptional diamonds for a c
Read moreFTSE 250 movers: Renishaw and construction sector receive boost as mining stocks decline
7th Jan 2015 14:09
Renishaw was rising after it released an unscheduled trading update late on Tuesday. Numis upgraded its profit forecast by 30% and claims that it expects consensus to follow suit. Renishaw also had its "overweight" rating restated by Barclays in a research note issued on Wednesday. The firm announce
Read morePetra Diamonds receives repayment from BEE Partners
5th Dec 2014 08:09
Petra Diamonds said on Friday that it had received the $98m repayment owed to it by the Cullinan and Finsch Black Economic Empowerment (BEE) Partners. The funds were transferred after the BEE Partners drew down on the financing provided by Absa Corporate and Investment Banking. Petra said the trans
Read morePetra Diamonds BBE partners refinance loans
25th Nov 2014 08:33
Petra Diamonds's black economic empowerment (BEE) partners have been granted third party finance for loans that were originally financed by Petra for the acquisition of the partners' interests in the Finsch and Cullinan mines. The repayment of the loans, worth $98m, will be used to strengthen Petra'
Read moreFTSE 250 movers: African Barrick lifted by broker comment as Synthomer slides after profit warning
28th Oct 2014 11:21
African Barrick Gold climbed after Westhouse Securities moved its target price from 230p to 240p, keeping its 'add' rating. Renishaw extended Monday's gains, which came after it revealed that it now expects to continue to experience the revenue growth seen in its first quarter in the second half of
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreTuesday tips round-up: Mortgage Advice Bureau, Petra Diamonds
28th Oct 2014 06:18
Undeterred by the wave of companies which have recently pulled their market flotations and a profit warning out from Foxtons, which operates in similar area of the housing market, Peter Brodnicki pressed the button on his own stock market listing. The former divisional head of L&G, and now co-founde
Read moreFTSE 250 movers: Renishaw leads after updating second half outlook
27th Oct 2014 13:56
Renishaw has revealed that it now expects to continue to experience the revenue growth seen in its first quarter in the second half of its financial year. The brief announcement from the metrology and healthcare manufacturer came less than two weeks after it delivered its interim management statemen
Read moreLondon midday: Stocks drop into the red after German data, ECB stress tests
27th Oct 2014 12:01
UK stocks had erased early gains by Monday lunchtime as ongoing concerns about Germany and the health of the wider Eurozone economy weighed on sentiment. The FTSE 100 was down 0.2% at 6,377 by midday, pulling back sharply after having touched an intraday high of 6,443.76 in early deals. News that G
Read moreLondon open: Stocks rise on stress-test results, but gains limited ahead of FOMC
27th Oct 2014 08:31
UK markets opened slightly higher on Monday morning, with sentiment boosted by the weekend's news that most European banks had passed recent 'stress tests'. The FTSE 100 was trading 0.1% higher at 6,396 within the opening hour, but had trimmed earlier gains which sent it to a high of 6,443.76. The
Read morePetra reports record Q1 but warns of 'softness' in diamond market
27th Oct 2014 08:00
Production volumes at Petra Diamonds reached a record in its first quarter, but the miner warned of a recent easing of conditions in the diamond market. Petra mined 833,744 carats of diamonds in the three months to 30 September, up just 2% over the first quarter of last year, but the highest quarter
Read morePetra Diamonds sells 232-carat white diamond for $15.22m
24th Oct 2014 12:22
Petra Diamonds has sold the 232.08 carat white diamond discovered at its Cullinan mine in South Africa in September for $15.22m. It was bought by Diacore, a multinational diamond company. Chief executive of the FTSE 250 group, Johan Dippenaar, said: "We are delighted to have achieved the sales resu
Read moreLondon midday: UK stocks hit by Ebola worries, travel stocks fall
24th Oct 2014 11:33
UK stocks fell on Friday morning after the FTSE 100 hit its highest level in two weeks the previous session, with investors treading cautiously after another reported case of Ebola in the States. The Footsie was down 0.3% at 6,397 by midday, but had pared losses after hitting a low of 6,374.24 early
Read moreBroker tips: HSBC, Vodafone, Wood Group, Centamin, Miners
9th Oct 2014 13:03
Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending. "We are mightily encouraged by evidence of returning risk appetite. We upgrade to 'add' from 'hold' and our target price to 650p from 620p," the broker said. Vodafone's recent share-price outperformance mean
Read moreThursday broker round-up UPDATE
9th Oct 2014 09:27
African Barrick Gold: Numis reduces target price from 330p to 270p keeping its hold recommendation. Antofagasta: Numis upgrades to hold with a target price of 700p. Aureus Mining: Numis lowers target price from 45p to 40p staying with its buy recommendation. Boohoo: Barclays initiates with a targe
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