Diamond mines not forever at Petra
7th Sep 2012 07:18
Diamond mine operator Petra Diamonds has kicked off the disposal process in respect of its fissure mines in South Africa. The sale was first mooted at the end of July. The fissure mines up for grabs comprise the Helam, Sedibeng and Star assets. The Sedibeng operation is an amalgamation of the Messi
Read moreTuesday tips round-up: Amlin, NCC, Petra Diamonds
21st Aug 2012 07:01
In the Times, Tempus is cautious on rapidly rising insurance firm Amlin. It has made a dramatic recovery after suffering severe losses last year related to the Japanese earthquake and tsunami, in addition to floods in Thailand. This year the combined ratio which measures premiums received against
Read moreFriday broker round-up
17th Aug 2012 09:22
Afren: Goldman Sachs downgrades to neutral. Borders & Southern Petroleum: Goldman Sachs downgrades to neutral. Coastal Energy: Goldman Sachs upgrades to buy. CRH: Credit Suisse downgrades to underperform. ENRC: Nomura cuts target from 500p to 400p, reduce rating kept. Faroe Petroleum: Goldman S
Read morePetra Diamonds lowers production guidance
15th Aug 2012 08:47
Petra Diamonds has lowered its production guidance for the current financial year, largely as a result of a revision of the mining scope at the Finsch site and the slightly lower production levels at the Williamson asset. The firm said it remains on track to deliver five million carats per year by
Read moreTuesday tips round-up: Drax, Petra Diamonds
1st Aug 2012 06:58
Directors of Drax say that all the technical issues involved in converting half its capacity to burn biomass such as waste wood and woodchip have been resolved and the process can go ahead, now that the Government has settled the level of subsidy that the business can expect. Some in the market plai
Read moreLondon close: Markets cautious before Fed decision
31st Jul 2012 16:54
- Footsie drops 1.02 per cent as risk rally fades - BP, Weir and RBS sold off - Markets await decisions from the Fed and ECB London's FTSE 100 index finished the day firmly in the red as a barrage of earning reports from some European heavyweights disappointed and investors showed caution ahead of
Read moreFTSE 250 movers: Elementis gains on cash return plans
31st Jul 2012 15:13
Results from speciality chemicals group Elementis galvanised the share price after the cash-rich group announced plans to return surplus funds to shareholders on a regular basis. Profit before tax in the first half of 2012 rose 12% to $79.0m from $70.6m the year before, on the back of a marginal i
Read moreLondon midday: Markets in the red despite mining strength
31st Jul 2012 11:26
- Recent global risk rally shows signs of fading - European blue-chips (BP, Weir, UBS, Deutsche Bank) - Markets await central bank action London's equity markets were broadly lower on Tuesday as sentiment was dampened by heavyweight corporates (BP, Weir, UBS, Deutsche Bank) missing analysts' estima
Read morePetra Diamonds revenues leap but outlook uncertain
31st Jul 2012 09:20
Petra Diamonds saw revenues jump in the last year as it almost doubled the amount of diamonds its dug up. Revenues rose 44% to $316.9m in the year to the end of June as the company reported total diamond production had gone up by 98%. The big jump in numbers were largely down to the firm's acquisi
Read morePetra Diamonds secures 25m dollar credit line
4th Jul 2012 07:50
Petra Diamonds said it had secured new credit to help it cover the volatile price of gems and the South African Rand. The firm said the $25m credit facility agreement with IFC, a member of the World Bank Group, was secured against its Finsch diamond mine in South Africa. The new facility is in add
Read moreLondon close: US sentiment data sparks late rally
11th May 2012 16:36
- US consumer sentiment at post-recession high - Banks weighed down by JP Morgan surprise trading loss - Miners pressured lower by Chinese data After a weak start, the FTSE 100 surged in afternoon trade on the back of some upbeat consumer sentiment data Stateside which helped to offset gloomy econo
Read moreFTSE 250 movers: Debenhams leads the way after upgrade
11th May 2012 15:12
Debenhams was a high riser following an upgrade by Bank of America to "buy" from "neutral". Analyst Aurelie Caspar said that in recent times Debenhams has "showed a department store chain with a strong multichannel offer can deliver consistent profit growth, provided the offer is sufficiently differ
Read moreLondon close: US jobless data sparks late rally
10th May 2012 16:59
- US jobless claims boost buying late on - BoE keeps interest rates, QE unchanged - Miners shrug off China data as Greek concerns ease London's blue chips rallied in afternoon trade on Thursday after some better-than-expected US economic data and easing concerns about Greece helped to snap a three-
Read moreThursday tips round-up: Petra Diamonds, F and C Asset management, Inmarsat
10th May 2012 06:46
Petra Diamonds, the diamond miner is still catching the eye of Questor in the Telegraph, who has been banging on about the stock for ages (it's currently tip of the year). There are slight worries about the grades of rock ore at some of its mines (this means how many diamonds are found per tonne o
Read moreFTSE 250 movers: Inmarsat rises on first quarter earnings
9th May 2012 15:26
Miner Petra Diamonds was up having reported a doubling of production in its third quarter, driven by its purchase of the Finsch mine in South Africa. The firm said production rocketed 126 per cent to 622,509 carats during the period, with Finsch exceeding management expectations and contributing 343
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