London open: Moody's dampens sentiment early on
14th Feb 2012 08:55
- Moody's downgrades six nations, three ratings outlooks cut to negative. - Miners provide a drag in London. News that Moody's had downgraded its ratings on several Eurozone nations and revised its outlook on others, including the UK, weighed on the Footsie in early trading on Tuesday. Miners were
Read moreLondon pre-open: Moody's warning to hit FTSE 100
14th Feb 2012 07:29
City sources predict the FTSE 100 will open down 19 points from yesterday's close of 5,906, following Moody's warning that a number of European countries, including Britain, could see their triple-A ratings slashed as a result of the increasing risks posed by the ongoing debt crisis in the region.
Read moreBHP, Rio approve $4.5bn Escondida investment
14th Feb 2012 07:04
Mining peers BHP Billiton and RIo Tinto have both approved a major investment to ramp up production at the Escondida copper project in Chile worth over $4.5bn. Escondida is 57.5% owned by BHP, 30% owned by Rio, while JECO Corporation has a 10% stake and JECO 2 owns 2.5%. The Organic Growth Project
Read moreLondon close: Greek optimism buoys Footsie
13th Feb 2012 16:39
- Stocks rise as Greece approves austerity package. - CBI cuts UK GDP forecasts. - Vodafone confirms potential takeover of C&W Worldwide. Stocks managed to hold on to gains on Monday as Greece moves one step closer to securing the next crucial tranche of aid. Mining and financial stocks led the ri
Read moreSector movers: Miners rise as Greek outlook improves
13th Feb 2012 14:48
Miners were the best performers of the day on Monday on the back of the improving outlook for Greece. Yesterday, Greek politicians voted to approve the austerity measures designed to cut €3.3bn from the deficit and achieve the approval of the issuance of the second financing package. The new €130bn
Read moreFTSE 100 movers: Miners buoyed by Greek deal
13th Feb 2012 13:07
Antofagasta lead the risers, closely followed by its fellow miners, after the Greek deal sparked a rise in the euro against the dollar, sending greenback-denominated metals´ prices higher. Anglo American, Kazakhmys, Rio Tinto and Xstrata were all making gains of at least 2%, with Anglo American pe
Read moreLondon midday: Stocks extend gains and banks, miners advance
13th Feb 2012 11:40
- Stocks rise as Greece approves austerity package. - Banks miss 'Project Merlin' lending targets. - Vodafone confirms potential takeover of C&W Worldwide. The Footsie was trading a whole percentage point higher by midday, with banks and miners extending gains from the morning session, following
Read moreLondon open: Stocks jump on Greek austerity vote
13th Feb 2012 08:21
- Stocks rise as Greece approves austerity package. - Vodafone confirms potential takeover of C&W Worldwide. - Miners track metal prices higher. UK stocks rose strongly on Monday morning following the news that the Greek parliament voted to approve the tough austerity measures needed to secure the
Read moreBroker tips: Barclays, Rio Tinto, InterContinental Hotels
10th Feb 2012 11:32
While Nomura notes that the Barclays full-year figures came in below expectations, owing to a shortfall in revenue, it maintains its buy rating and 268p target price for the UK lender. Nomura says that Barclays still represents a group with limited exposure to legacy risk positions and requires lit
Read moreBroker snap: UBS hikes Rio Tinto target after H2 beat
10th Feb 2012 11:13
UBS has raised its target price for mining giant Rio Tinto by 7% and reiterated its buy recommendation after second half figures came in above expectations. On Thursday, Rio reported that second half underlying net income (which excludes a $9bn impairment charge mostly relating to its aluminium ass
Read moreFriday broker round-up -UPDATE
10th Feb 2012 10:27
Ferrexpo: Rennaisance downgrades to hold. ICAP: Goldman Sachs downgrades to neutral from buy. Schroders: Goldman Sachs upgrades to buy from neutral. Next: Deutsche Bank upgrades to buy from hold. National Grid: JP Morgan downgrades to neutral from outperform. Barclays: Nomura maintains buy
Read moreFriday tips round up: Vodafone, Rio Tinto, Mitchells and Butlers
10th Feb 2012 06:59
In the Times Tempus bangs the drum for one of his picks of the year: Vodafone. Yesterday, despite issuing a reasonable trading update the stock rose only 0.5%. Over the last 12 months the company is down 3%. This under-performance clearly perplexes Tempus, who believes Vodafone's dominant position
Read moreLondon close: Stocks rise on Greek deal and QE
9th Feb 2012 16:37
- Greek deal agreed, says PM's office. - BoE boosts QE by £50bn. - ECB keeps rates on hold. Stocks were given a boost in afternoon trade on news that Greek leaders had come to an agreement over an austerity package. However, gains were trimmed late on as investors began to assess the very limited d
Read moreFTSE 100 Movers: Tate and Lyle leaves sour taste
9th Feb 2012 12:41
It has been a busy day for results from FTSE 100 heavyweights and the reception for most of them was far from warm. Sweeteners manufacturer Tate & Lyle became the biggest faller among Footsie constituents after reporting a mixed performance in the third quarter, with subdued volume growth in severa
Read moreLondon midday: Stocks hold on to gains as BoE boosts QE
9th Feb 2012 11:45
- BoE boosts QE by £50bn. - Greek leaders clash heads over pensions. - Oil stocks provide a lift to the Footsie. The Footsie held on to moderate gains by lunchtime as the Bank of England announced further stimulus measures to boost the UK economy. Earlier optimism over a draft Greek deal seems to h
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