Rio Tinto beats forecasts but prices still a concern - UPDATE
8th Aug 2012 15:52
Rio Tinto may have pleased investors by beating forecasts, but a reduction in prices did some significant damage to the miner's underlying first-half earnings. A decline in price was seen in nearly all of Rio's major commodities, with the exception of gold, pushing underlying earnings lower by $2,
Read moreFTSE 100 movers: Standard Chartered heads back up
8th Aug 2012 15:36
Following a 16 per cent slump yesterday, emerging markets-focused bank Standard Chartered was leading the risers today. It was revealed yesterday that a US banking regulator accused it of collusion with the government of Iran to hide transactions from authorities. Rio Tinto, the mining and resourc
Read moreLondon midday: Sentiment dampened by BoE and Greece
8th Aug 2012 11:46
- ECB optimism fades - S and P cuts Greek outlook to 'negative' - BoE slashes growth forecast The Footsie remained firmly in the red on Wednesday morning as optimism earlier this week about the situation in Europe began to fade, particularly as Greece's credit rating outlook was lowered by Standard
Read moreLondon open: Stocks slip on concerns over Greece
8th Aug 2012 09:02
- S and P cuts Greek outlook to 'negative' - Markets await BoE inflation report - StanChart rebounds after yesterday's sell-off UK stocks slipped in the opening hour on Wednesday, with the Footsie pulling back after a four-month high, after Greece's long-term sovereign rating outlook was cut by Sta
Read moreRio Tinto beats earnings forecast but costs rise
8th Aug 2012 07:24
Rio Tinto, the mining and resources giant, has managed to beat market expectations on earnings but admits price pressures are a problem. Underlying earnings for the first six months of the year were $5.2bn against a consensus forecast of $4.9bn. The figure is still 34% down on 2011, reflecting a dr
Read moreFTSE 100 movers: Miners lead the way
31st Jul 2012 14:25
Vedanta, Rio Tinto, Xstrata, Randgold, Glencore and Polymetal making good gains, boosted by Polymetal, Vedanta and Xstrata which all impressed with their second-quarter and first-half production reports this morning. A notable exception was Mexico-focused precious metals miner Fresnillo, which drop
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 moreIvanhoe issue a success as parent Rio Tinto takes its fill
30th Jul 2012 15:02
FTSE 100 mining giant Rio Tinto has pumped in just under a billion dollars into its subsidiary Ivanhoe, by taking up its full entitlement in the Asia and Australia-focused miner's rights issue. Rio paid just under $935m to acquire just over 133.57m Ivanhoe shares, which were being offered to shareh
Read moreLondon open: Market extends losses on euro worries
24th Jul 2012 08:29
- Footsie continues to fall as Spanish yields rise - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Miners, banks provide a drag in London - Moody´s criticizes gradualist approach to crisis resolution - Goldman Sachs AM President calls for radical ECB action -BBC UK stocks edged
Read moreBroker tips: HSBC, Rio Tinto, Booker
18th Jul 2012 11:46
Galvan Research has labelled shares of global banking giant HSBC as a 'near-term sell' given the money-laundering issues that have weighed on the stock recently. "HSBC has been forced to swallow a vey large slice of humble pie following the rather damning issues with money laundering," said Andrew
Read moreBroker snap: UBS cautious about iron ore sales at Rio Tinto
18th Jul 2012 11:25
UBS has reiterated its 'buy' recommendation for mining group Rio Tinto despite second-quarter iron ore sales coming in below forecasts. The broker admits that the second-quarter performance was strong across most of the portfolio against its production forecasts. However, iron ore shipments didn't
Read moreWednesday broker round-up
18th Jul 2012 09:21
Ashmore: Goldman Sachs upgrades to buy. Ashtead: Jefferies reiterates buy rating and 320p target. Booker: Investec maintains buy rating and 98p target. British Land: BarCap downgrades to equal weight. Capital Shopping Centres: BarCap upgrades to overweight. Chariot Oil & Gas: Merchant Securitie
Read moreLondon close: Stocks slip as Bernanke disappoints
17th Jul 2012 16:41
- No hints from Bernanke for QE3 - German ZEW index falls for third straight month - G4S tumbles on Olympics contract; CSR rockets after disposal, cash return With Ben Bernanke failing to give any clear indications quickly enough this afternoon [before London markets closed], as regards the possibi
Read moreFTSE 100 movers: G4S is once again leading the way lower
17th Jul 2012 15:40
Security solutions firm G4S continued to fall as it is hampered by the Olympics contract debacle. The company said yesterday that it expects to incur a £35-50m loss on the contract after failing to deliver as many workers as it had promised to. The stock is also being weighed down by ratings cuts
Read moreLondon midday: German ZEW data dampens stocks
17th Jul 2012 11:45
- German ZEW index falls for third straight month - Bernanke hoped to reveal hints of extra stimulus - G4S, Wolseley provide a drag in London After a subdued start, the Footsie was trading firmly lower by Tuesday lunchtime after German investor confidence fell for a third month in a row. Despite ea
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