Broker snap: Nomura cuts coal price estimates, slashes Bumi target
25th May 2012 10:56
Nomura has cut its target price for FTSE 250 miner Bumi by 140p after reviewing the impact of lower estimated prices on the Australian coal industry. "In the near term, the risk is that coal growth projects are pushed back, as the majors can afford to be more disciplined. Ultimately, this could lea
Read moreLondon close: Stocks sink on Greek exit speculation
23rd May 2012 16:39
- Officials warn Eurozone to prepare for Greek exit - BoE policy makers 'finely balanced' on more QE - CBO warns of US recession The FTSE 100 sunk to its lowest levels of the day by the end of trade on Wednesday as investors looked ahead to this evening's EU summit with caution as speculation incre
Read moreFTSE 100 movers: Miners dragging index down
23rd May 2012 15:46
The blue-chip miners were dominating the fallers list on the Footsie by midday as metals prices dropped on concerns that the Chinese economy may be affected greatly by Greece leaving the euro: investment bank China International Capital Corp said today that the world's second-largest economy could s
Read moreRio Tinto increases support for Ivanhoe Mines
23rd May 2012 14:23
Rio Tinto and Ivanhoe Mines have amended some of the terms of their recently agreed memorandum regarding a funding packing for Ivanhoe. Rio has confirmed that it will take up its full basic subscription privilege under the $1.8bn rights offering relating to its 51% shareholding in Ivanhoe. The mi
Read moreLondon midday: Triple-digit losses for the Footsie
23rd May 2012 11:30
- Papademos says preparations being made for Greek exit - CBO warns of US recession - Chinese growth to be hampered if Greece leaves euro London blue-chip index was registering steep losses on Wednesday as gains from the last two days were almost completely erased ahead of the EU summit this evenin
Read moreLondon open: Stocks drop ahead of EU summit
23rd May 2012 08:33
- Risk aversion ahead of EU summit - Papademos warns of 'catastrophic' effects - Burberry sinks after full-year results The Footsie sank in early trading on Wednesday as investors showed caution ahead of an eagerly-awaited EU summit later on this evening. Weighing on sentiment early on were commen
Read moreLondon close: Financials, miners benefit from increase risk appetite
22nd May 2012 16:47
-Risk-on as miners and financials advance -Eurobonds in focus ahead of EU summit -OECD cuts Eurozone GDP forecast The FTSE 100 surged to its highest levels of the day on Tuesday as increased risk appetite bolstered gains for financial and mining stocks. Investors were looking ahead to tomorrow's EU
Read moreSector movers: Miners gain on Chinese stimulus hopes
22nd May 2012 16:01
Real estate investment trust (REIT) peers Land Securities and Hammerson dragging the REIT sector lower on Tuesday as investors built positions in 'riskier' assets, like mining stocks. Miners were among the stocks that bore the brunt of the Eurozone-fuelled sell-off last week, causing shares to rebo
Read moreLondon midday: Stocks rise ahead of EU summit
22nd May 2012 12:00
- Miners wanted on Chinese stimulus speculation - Fitch downgrades Japanese rating - Markets await EU summit tomorrow, OECD backs eurobonds The FTSE 100 held on to its earlier gains by Tuesday lunchtime as investors look ahead to tomorrow's EU summit with optimism, as pressure builds on Eurozone l
Read moreBroker tips: Aviva, ICAP, Miners
17th May 2012 11:07
Nomura has reiterated its buy recommendation and 600p target price for insurance group Aviva following its first-quarter results, saying that solvency ratios are stable and sales are solid. "We believe that its focus will be on improving the capital strength of the group which is below its peer gro
Read moreBroker snap: Jefferies cuts targets across the mining sector
17th May 2012 10:41
Jefferies has reduced its target prices for miners under its coverage by around a tenth on average as macroeconomic concerns have increased in recent weeks. "Mining shares have recently underperformed commodities and the broader equity markets. We attribute this underperformance to several factors,
Read moreLondon open: Footsie at lowest levels since mid-December
16th May 2012 09:04
- Greek concerns dent Footsie again - Glencore, Sainsbury fall after going ex-dividend - Lamprell tanks on FTSE 250 London's FTSE 100 suffered a third straight sell-off on Wednesday, sending the blue chip index to a near five-month low in early trading on the back of concerns over the political si
Read moreLondon close: Stocks slip as Greece heads for new elections
15th May 2012 16:30
- Greece fails to form coalition - Eurozone GDP unchanged in first quarter - IAG falls after downgrade, miners track metals prices lower London's blue chip index fell sharply for a second straight day on Tuesday as it was revealed that Greek leaders failed to form a coalition, meaning that the coun
Read moreFTSE 100 movers: IAG is biggest faller after downgrade
15th May 2012 15:53
Airline company IAG was pressured into the bottom spot after JP Morgan Cazenove downgraded its recommendation from overweight to neutral. Miners were also pushed lower as metal prices took a hit, with Vedanta, Kazakhmys and Rio Tinto all in the bottom 10. Meanwhile, international security soluti
Read moreSector movers: Mining stocks dented by Greek concerns
15th May 2012 15:52
Mining stocks continue to bear the brunt of recent sell-offs on the back of concerns over the ongoing Eurozone debt crisis. Metals prices are under pressure again today as worries over the escalating political situation in Greece continue to prompt speculation that the nation could leave the euro i
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