Petra Diamonds eyeing quicker maiden dividend as annual profits jump
18th Sep 2014 07:30
South Africa-focused diamond miner Petra said that strong production growth helped drive a big jump in annual profits for the year to 30 June, as it reiterated its target to produce 5m carats per annum by 2019. The company also announced that it is "currently considering" bringing forward its maiden
Read moreThursday preview: Scots vote on independence from the UK
17th Sep 2014 17:23
Scotland’s referendum on independence from the UK will take centre stage on Thursday. Polls have been too close to call ahead of the vote. In the latest prediction, Irish bookmaker Paddy Power on Wednesday said it expects some of the biggest cities in Scotland will vote ‘no’ in th
Read moreLondon pre-open: Stocks to rise ahead of CPI data
16th Sep 2014 07:39
London-listed stocks are expected to open broadly higher on Tuesday as investors gear up for the latest UK inflation reading, German investor confidence and, later in the week, the Scottish referendum and a meeting of the Federal Open Market Committee (FOMC). City sources predict the FTSE 100 will o
Read morePetra sells 122.5-carat blue diamond for $28m
16th Sep 2014 07:08
African diamond miner Petra Diamonds has announced it has raised $27.6m through the sale of a rare 122.52-carat blue diamond found at its Cullinana mine in South African in June. The diamond, which Petra labelled as a "truly significant find", was sold for $225,269 per carat to a beneficiation partn
Read moreBroker tips: Morrison, Rightmove, Petra Diamonds
9th Sep 2014 12:59
Comments from Citigroup were giving the share price of Wm Morrison a boost on Tuesday as it upgraded its rating on the stock from 'neutral' to 'buy' and said that the company's 7.5% dividend yield is "safe". Analyst Pradeep Pratti said that the company should generate around £350m of free cash flow
Read moreLondon midday: Stocks inch lower on Scottish vote concerns
9th Sep 2014 11:45
UK stocks fell for the third straight day on Tuesday as uncertainty caused by the upcoming Scottish referendum and geopolitcal tensions in eastern Europe dampened risk appetite. The FTSE 100 was 0.1% lower at 6,829 by midday, though it traded within a narrow range for most of the morning. Equity ma
Read moreWesthouse upgrades Petra after "another gem of a find" at Cullinan
9th Sep 2014 11:17
Petra Diamonds has announced "another gem of a find", according to Westhouse Securities which raised its recommendation for the stock from 'add' to 'buy' after the discovery of a 232-carat (ct) white diamond on Tuesday. The broker said it has made the rating change on the back of recent weakness in
Read moreLondon open: Subdued start as markets await UK data
9th Sep 2014 08:39
UK stocks were trading slightly lower on Tuesday morning as investors prepared for a raft of economic data on the British economy. The FTSE 100 was 0.1% lower at 6,830 in early deals, trading in the red for the third straight day. Stocks came under pressure on Monday on the back of growing support
Read moreLondon pre-open: FTSE to open lower as Russian sanctions agreed
9th Sep 2014 07:44
The agreement of a new wave of sanctions against Russia is expected to push the FTSE into the red on Tuesday morning. City sources predict the FTSE 100 will open around 17 points lower than Monday's close of 6,834.77. In addition to the sanctions, which will not be implemented until it can be deter
Read morePetra uncovers 232-carat white diamond from Cullinan mine
9th Sep 2014 07:08
FTSE 250-listed diamond miner Petra Diamonds on Tuesday announced the recovery of an "exceptional" 232.08-carat white diamond at its Cullinan mine in South Africa. "The stone is a D colour Type II diamond of exceptional size and clarity, and is a magnificent example of the large, high quality diamon
Read moreFTSE 250 movers: Wood Group rises on better-than-expected earnings
19th Aug 2014 16:24
First-half earnings at energy services provider John Wood Group were flat but slightly better than the market was expecting, pushing shares higher on Tuesday. Revenues were up 10% at $3.8bn as the company benefitted from strong activity in the US shale sector. Amlin fell after Deutsche Bank cut its
Read moreSector movers: BHP Billiton drags miners lower as buyback absent
19th Aug 2014 14:32
Underwhelming demerger plans and results by BHP Billiton saw the world's largest miner's shares drop sharply on Tuesday, dragging the UK mining sector to the bottom of the pile. Details of BHP Billiton's hotly-anticipated "portfolio simplification" were unveiled before the markets opened but failed
Read moreTuesday broker round-up
19th Aug 2014 09:19
Amlin: Deutsche Bank cuts target price from 472p to 461p and reiterates a hold recommendation. Anglo Pacific: FinnCap lowers target price from 184p to 180p retaining a hold recommendation. Bovis Homes Group: Deutsche Bank shifts target price from 1057p to 1063p and keeps a buy recommendation. Libe
Read moreFTSE 250 movers: Bovis Homes leads after positive interims
18th Aug 2014 14:49
Bovis Homes was the top performer after delivering what Panmure Gordon described as a "positive set of interim results". Pre-tax profit in the six months to 30 June totalled £49.4m, up 166% over the year before, on revenues that jumped 75% to £322.1m, as completions reached a record level and sales
Read morePetra Diamonds guidance disappoints, but Canaccord reiterates 'buy'
18th Aug 2014 12:16
Canaccord Genuity has repeated its 'buy' stance on Petra Diamonds, but has said that guidance from the miner was worse than expected on Monday. Production is forecast to rise by around 3% to 3.2m carats in the 12 months to 30 June 2015, 7% below Canaccord's estimate of 3.4m carats. Meanwhile, capi
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