Broker 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
Read moreLondon open: Footsie flat for second day, but CSR rockets
17th Jul 2012 08:36
- Eyes on Bernanke and hints on further stimulus - CSR jumps nearly 40 per cent after disposal - Wolseley sees 'challenging' Europe The FTSE 100 was flat on Tuesday morning following a subdued session the day before, as investors look ahead to a semi-annual monetary policy report from the US Federa
Read moreLondon pre-open: Modest rise expected in early trading
17th Jul 2012 07:39
City sources predict the FTSE 100 will open up 11 points from yesterday's close of 5,662, tracking Asian stocks higher after the International Monetary Fund raised its growth forecasts on Japan. The IMF now believes that the country's economy will expand 2.4 per cent this year rather than its previo
Read moreRio Tinto down on demand concerns
17th Jul 2012 07:20
A strong second quarter for Rio Tinto saw the mining giant achieve record iron ore production in the first half, but shares fell on Tuesday morning after the firm reported that output had exceeded sales. First-half iron ore output of 120m tonnes (94m tonnes attributable) and shipments of 115m tonne
Read moreTuesday preview: Rio Tinto, UK inflation
16th Jul 2012 18:56
A production report is due from mining giant Rio Tinto covering the second quarter. There should be an improvement on the first quarter's figures, when many of the miner's operations were affected by rain. Though the Bank of England - scheduled to release the minutes on Wednesday of the July meetin
Read moreLondon open: China concerns dampen Footsie; G4S tanks
16th Jul 2012 08:35
- China's Wen dampens sentiment - Miners drop on Chinese worries, Nomura comments - G4S tumbles on Olympics contract loss estimates London's benchmark index opened slightly lower on Monday morning as comments from China's Premier weighed heavily on stocks in the mining sector. G4S also took a tumbl
Read moreMonday broker round-up
16th Jul 2012 08:23
Antofagasta: Nomura cuts target from 1,500p to 1,450p, buy rating kept. Betfair: Jefferies maintains buy rating and 900p target. BHP Billiton: Nomura cuts target from 2,400p to 2,100p, buy rating kept. Bumi: Nomura cuts target from 860p to 750p, neutral rating kept. ENRC: Nomura cuts target from
Read moreLondon open: Chinese data provides a lift early on
13th Jul 2012 08:20
- Chinese GDP beats forecasts - Moody's downgrades Italy - Mining stocks gain on improved demand outlook Burberry and the miners were performing well on Friday morning after growth data from China came in above expectations, easing concerns about a 'hard landing' for the world's second-largest econ
Read moreLondon close: Stocks slide ahead of Chinese growth data
12th Jul 2012 16:31
- All eyes on Chinese GDP data tomorrow - FOMC minutes disappoint as they fail to hint at QE3 - Aegis rockets after Dentsu offer; miners tank The FTSE 100 finished around 1% lower on Thursday afternoon with the mining sector bearing the brunt of concerns over the global economy ahead of some highly
Read moreFTSE 100 movers: Miners plunge but Ashmore beats them to bottom spot
12th Jul 2012 14:39
Mining heavyweights Antofagasta, Rio Tinto, ENRC and BHP Billiton were all registering steep losses after Credit Suisse slashed target prices across the sector after lowering commodity price estimates. Rio Tinto announced this morning that its Chief Financial Officer is to retire at the end of next
Read moreLondon midday: Growth concerns fuel risk aversion
12th Jul 2012 11:22
- Ashmore drops eight per cent; miners tank - Aegis rockets after Dentsu offer - Markets focus on FOMC minutes and global growth concerns European markets were firmly in negative territory on Thursday morning on the back of concerns over the global economy, with miners about the worst hit in London
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