Broker tips: Ashmore, Miners, Aegis
12th Jul 2012 11:08
Shares in fund management Ashmore took a battering on Thursday morning after its fourth-quarter statement but Peel Hunt has maintained its 'buy' recommendation and 440p target price for stock saying that it still offers 'long-term structural growth'. "Given the slightly lower period-end AuM, and re
Read moreBroker snap: Credit Suisse downgrades BHP, cuts targets for miners
12th Jul 2012 10:06
Credit Suisse has revised its target prices across the mining sector lower after cutting its commodity price estimates; as part of this review, the broker has downgraded its rating for BHP Billiton. The broker said that decelerating global growth and falling risk appetite have taken their toll on c
Read moreLondon open: Ashmore, G4S and miners provide a drag
12th Jul 2012 08:43
- FOMC minutes disappoint - Miners tank after Credit Suisse cuts forecasts - Aegis rockets after Dentsu offer The FTSE 100 dropped sharply in morning trade on Thursday with sentiment dampened by last night's statement by the Federal Reserve which didn't give any hints at further stimulus measures f
Read moreThursday broker round-up
12th Jul 2012 08:41
African Minerals: Credit Suisse cuts target from 800p to 740p, outperform rating kept. Anglo American: Credit Suisse cuts target from 2,900p to 2,500p, neutral rating unchanged. Antofagasta: Credit Suisse cuts target from 1,300p to 1,150p, neutral rating kept. Aquarius Platinum: Credit Suisse cut
Read moreLondon pre-open: FTSE to fall on Fed concerns, Korea, Australia
12th Jul 2012 07:33
City sources predict the FTSE 100 will open down 29 points from yesterday's close of 5,664, as investors worry over whether the US Federal Reserve will increase stimulus after minutes from last month's meeting indicated that central bank judged that the economic situation would have to get worse for
Read moreRio Tinto CFO to retire next year
12th Jul 2012 07:28
Rio Tinto's long-standing Chief Financial Officer (CFO) Guy Elliott is to retire at the end of next year, the group announced on Thursday, along with a few other senior management changes. Elliot has worked for the mining group for 32 years, which includes ten years on the board. "I would like to
Read moreLondon open: Stocks flat after Eurogroup meeting
10th Jul 2012 08:47
- Eurogroup gives Spain extra time - Chinese trade surplus at three-year high - M&S maintains guidance despite LFL sales falling The Footsie opened broadly flat on Tuesday morning with investors digesting the the developments from yesterday's Eurogroup meeting. Eurozone finance ministers decided t
Read moreBroker tips: Glencore, Xstrata, Michael Page...
9th Jul 2012 11:08
Jefferies expects commodities marketer and producer Glencore to bump up its proposed merger ratio for Xstrata and says that following the stocks' recent underperformance, shares of both groups are now more attractively valued. "We continue to have a positive view on shares of BHP Billiton and Rio T
Read moreBroker snap: Glencore likely to raise offer for Xstrata, says Jefferies
9th Jul 2012 10:24
Jefferies expects commodities marketer and producer Glencore to bump up its proposed merger ratio for Xstrata and says that following the stocks' recent underperformance, shares of both groups are now more attractively valued. The broker had said recently that mining peers BHP Billiton and Rio Tint
Read moreSector movers: US jobs data sees investors flee from risk
6th Jul 2012 15:14
With disappointing jobs figures from the US prompting a sell-off in global stock markets, the defensive sectors were benefitting from the risk-off environment. The US Labor Department revealed that 80,000 non-farm payrolls were added in June, less than the 100,000 expected by analysts. The jobless
Read moreFTSE 100 movers: Aviva leaps after Delta Lloyd sale plans
6th Jul 2012 13:39
Having promised on Thursday that it would raise money from disposals, insurance giant Aviva moved quickly to act on that pledge by saying it will sell more of its stake in Delta Lloyd than originally intended, prompting a sharp rise in its share price. Also providing a lift was Societe Generale whic
Read moreLondon midday: Stocks fall as investors shrug off central bank action
6th Jul 2012 11:37
- Markets look ahead to US jobs report - Investors shrug off central bank action - Aviva jumps on Delta Lloyds disposal The Footsie was trading within a narrow range on Friday morning as investors showed caution ahead of a pivotal employment report due out in the US in the coming hours. Stocks o
Read moreFTSE 100 movers: Aberdeen off on Credit Suisse placement
3rd Jul 2012 13:57
Making headlines this morning was the news that Bob Diamond has called its quits at Barclays, bowing in to political pressure following last week's news that the bank was involved in Libor manipulation. Marcus Agius, who said yesterday that he would resign as Chairman, is to become a full-time Chair
Read moreLondon midday: Barclays, miners provide a lift in London
3rd Jul 2012 11:44
- Investors welcome departure of Barclays CEO - Stimulus hopes drive gains for equity markets - Miners track metals prices higher Trade was choppy on Tuesday morning, but the Footsie edged higher on the back of strength in the mining sector. However, the index stayed within a narrow range with just
Read moreLondon open: Stocks rise on stimulus hopes; Barclays in focus
3rd Jul 2012 08:31
- US, UK, China and ECB stimulus hopes drive gains - Barclays hits headlines after CEO departs - Miners rise as metals prices advance Hopes that central banks will inject more stimulus into the global economy were boosting UK stocks on Tuesday morning. Yesterday's disappointing manufacturing data
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