London close: Euro concerns drag Footsie into the red
16th Dec 2011 17:04
London's blue chip index took a late tumble late on to finished slightly in the red on a choppy day's trade. European bourses finished broadly down as worries over the Eurozone continue to dampen the mood. EUROZONE WORRIES CONTINUE France may have entered a recession this quarter which will last
Read moreFTSE 100 Movers: Kazakhmys leads the miners higher
16th Dec 2011 14:14
Kazakhmys leapt into the top spot after investors learnt that it has signed a memorandum of understanding with the China Development Bank Corporation for a $1.5bn loan facility, which is to be used for the development of the major copper project at Aktogay, East Kazakhstan. The facility consists of
Read moreSector movers: Kazakhmys leads miners higher after securing funding
16th Dec 2011 13:50
The miners were the best performers on Friday afternoon, with stocks averaging gains of nearly 2% by 13:50. Leading the charge was copper giant Kazakhmys after a $1.5bn loan facility signed for the Aktogay copper project in East Kazakhstan meant that it has now secured funding for all of its develo
Read moreLondon midday: Footsie up 0.5% as miners rise
16th Dec 2011 11:47
The Footsie extended gains by midday, with miners leading the advance, despite some gloomy comments by leaders in the Eurozone. The blue chip index was trading just 27 points higher by lunchtime, up 0.5% at 5,427, while bourses in Europe edged lower. EUROZONE WORRIES CONTINUE France may have ente
Read moreLondon open: Miners provide a lift early on
16th Dec 2011 08:19
The Footsie opened moderately higher on Friday morning, with financials an miners providing a lift. Miners were among the best performers early on. In other news, the Managing Director of the International Monetary Fund has said that the world is facing similar threats seen in the Depression: "econ
Read moreLondon close: Miners drag Footsie down 2.3%
14th Dec 2011 16:42
The FTSE 100 index finished at its lowest levels of the day on Wednesday, closing over 100 points down from Tuesday's close of 5,490. Just one stock in London, Morrison, finished in the blue, while the heavyweight mining sector dominated the downward direction. Markets remain concerned with the ong
Read moreFTSE 100 Movers: Miners drag index down
14th Dec 2011 14:19
Miners were among the worst performers. Dollar-denominated metals prices were on the decline as the greenback strengthened following the Federal Open Market Committee (FOMC) statement. Fresnillo, Rio Tinto, ENRC and Antofagasta were all registering steep falls. Last night, the FOMC decided, as expe
Read moreLondon midday: Resource stocks pull Footsie to daily lows
14th Dec 2011 12:00
There were just seven risers on London's FTSE 100 at midday, as miners and oil stocks pulled the blue chip index to its daily low of 5,438, a fall of around 1%. In economic news, UK unemployment rose by 128,00 in the three months to October to a reach a total of 2.64m, according to the Office for
Read moreWednesday broker round-up - UPDATE
14th Dec 2011 10:09
Tesco: ING downgrades to sell from buy. Marks&Spencer: ING downgrades to sell from hold. Morrison: ING upgrades from hold to buy. Rio Tinto: Credit Suisse reiterates outperform recommendation and 5,000p target. London Stock Exchange: Credit Suisse upgrades from underperform to neutral, 850p tar
Read moreLondon close: Merkel comments weigh, Footsie pares gains
13th Dec 2011 16:21
London's blue chip index experienced a boost on Tuesday afternoon, helped by a strong Spanish bond auction and a better-than-expected German confidence survey. However, stocks began to retreat late on after some worrying comments from Angela Merkel and rumours of disruption to oil exports in the Per
Read moreFTSE 100 Movers: Petrofac leads the way
13th Dec 2011 14:51
Oilfield services firm Petrofac soared into the top spot after announcing that it expects to deliver like-for-like (LFL) profit growth in 2011 of at least 20%, the company announced this morning. While the order book may have "unwound" slightly (from $10.8bn in September to $10.6bn expected at the
Read moreRio Tinto wins battle with Ivanhoe
13th Dec 2011 14:17
Rio Tinto has triumphed in its battle to win the right to take over its hostile joint-venture partner Ivanhoe Mines, after an independent arbitrator ruled that Ivanhoe's "poison pill" defence is invalid and that Rio was not in breach of an agreement between the two firms. Rio, which currently owns
Read moreAustralia ups export volume forecasts for 2011-12
13th Dec 2011 13:36
London-listed mining stocks were on their way up on Tuesday, helped by the news that Australia has raised its forecast for commodity export volumes. According to the Bureau of Resources and Energy Economics' (BREE's) Resource and Energy Quarterly, Australia's export volumes for most minerals and en
Read moreRio Tinto delays offer deadline again
13th Dec 2011 08:10
Mining giant Rio Tinto has extended the time shareholders in Canadian uranium firm Hathor have to accept its $654m bid for the company. Rio said that so far over 84% of shareholders had accepted the C$4.70 per share offer and it was delaying the deadline until 22 December 2011. "The offer has been
Read moreFriday broker round-up
9th Dec 2011 10:05
Rio Tinto: Investec cuts target from 4,170p to 4,045p, buy rating kept. BG Group: Nomura keeps buy and 1,850p target. Genel Energy: Investec reiterates buy and 1,360p target. Standard Chartered: Nomura reiterates buy and 1,800p target. African Barrick Gold: Investec reduces target from 634p to 6
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