MARKET TALK: Rio FY10 Earnings Cut 11% On Weaker Commodities -CS
19th Jul 2010 00:15
2314 GMT [Dow Jones] Credit Suisse slashes Rio Tinto (RIO.AU) earnings forecasts by 11% in FY10, 19.5% in FY11 and FY12, thanks to downward revisions in iron ore, copper, aluminum, AUD/USD. Target price down to A$85 from A$100 vs A$65.03 close yesterday, but Outperform rating retained as stock "rema
Read moreMARKET TALK: BHP Cut To Neutral, FY11 Earnings Cut 16% By CS
19th Jul 2010 00:07
2307 GMT [Dow Jones] STOCK CALL: Falls in iron ore and copper, weakening AUD/USD, mean BHP Billiton (BHP.AU) rating lowered to Neutral from Outperform by Credit Suisse, though target price steady on A$45 vs yesterday's A$37.75 close. Earnings forecast down 4% in FY10, 16% FY11, 12.5% FY12 due to fal
Read moreLondon close: Footsie slips after US slide
15th Jul 2010 16:37
Company news was generally well received today, but the leading share index took a downward turn after a poor opening on Wall Street. Mining stocks were out of favour as metals prices slipped. ENRC and Rio Tinto were among the strugglers. Global information services company Experian went well afte
Read moreFTSE 100 movers: Miners and financials head lower
15th Jul 2010 16:17
Footsie is heading lower as miners and financials fall back. Metals prices are recovering but ENRC, Rio Tinto, Xstrata and Kazakhmys are all lower. Barclays leads the fallers. There is also profit taking in ARM after yesterday's rise. Global information services company Experian is higher af
Read moreSector movers: Software news impresses market
15th Jul 2010 15:25
Software & computer services stocks have been busy updating the market and have been well received overall. Dimension Data's shares have soared after Nippon Telegraph and Telephone (NTT) agreed to buy the South African IT for £2.12bn in cash. The Japanese telecommunications giant will finance the a
Read moreLondon afternoon: Stocks perk up slightly
15th Jul 2010 13:06
London's leading shares are posting minimal gains in afternoon deals with Wall Street expected to start higher. Metal prices have recovered and mining stocks are not such a drag on the index as they were in the first few hours of trading, though Kazakhmys and Rio Tinto are amongst the major fallers
Read moreUPDATE: Fortescue Cash Reserves Up 67% On Quarter To US$1.24B
15th Jul 2010 07:04
(Adds analyst, executive comments, background) By David Fickling Of DOW JONES NEWSWIRES By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Cash reserves held by Fortescue Metals Group Ltd. (FMG.AU) jumped more than 67% in the three months to the end of June to US$1.24
Read moreCORRECT:MARKET TALK: S&P/ASX 200 Pares Losses On China GDP
15th Jul 2010 04:24
0324 GMT [Dow Jones] (An item at 0227 GMT misstated the expectations for China's 1Q GDP data and mischaracterized the industrial production data. A correct version follows:) S&P/ASX 200 turns up a point at 4463.4 after paring intraday fall to 4427.1. Index rose from 4440 level after China's 1H GDP c
Read moreMARKET TALK: Riversdale Capital-Raising Out Of The Blue -Analyst
15th Jul 2010 03:59
0259 GMT [Dow Jones] Riversdale Mining's (RVDM) trading halt today, "pending the outcome of late-stage negotiations regarding a potential capital raising", comes as a surprise given company's existing strategy, good access to finance, says Sydney-based analyst. Little obvious need for fresh capital,
Read moreFortescue Metals: Solomon Upgrade Adds 6% To Total Resources
15th Jul 2010 02:53
SYDNEY (Dow Jones)--Fortescue Metals Group Ltd. (FMG.AU) said Thursday it will upgrade its total iron ore resources by 160 million metric tons after further studies of the prospects around its planned Solomon Hub mining operation. The company said that a first measured resource at the Brockman p
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Flat; SPI Down 0.2%
15th Jul 2010 00:56
2356 GMT [Dow Jones] S&P/ASX 200 offshore leads flat, though overnight SPI 200 futures down 0.2% at 4425.0 on further signs of U.S. economic weakness. DJIA down 0.1% at 10359.31, S&P 500 up 0.1% to 1096.48, Nasdaq flat at 2249.08. After the close, Goldman Sachs reached settlement with SEC. But Googl
Read moreRio Tinto Stabilizes Laterriere Smelting Potline After Power Failure
14th Jul 2010 20:58
By Rhiannon Hoyle Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Rio Tinto PLC (RTP, RIO.LN) said Wednesday it has repaired one of the transformers at its Laterriere Works aluminum smelter in Quebec after a power failure last week, allowing it to stabilize one of the facility's two potlines.
Read moreOPTIONS REPORT: Trader Is Guarded On Industrials
14th Jul 2010 20:30
By Brendan Conway Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Ahead of General Electric Co.'s closely watched Friday report, one big trader appeared ready in case industrial stocks move lower during earnings season. GE is the most heavily weighted component of the SPDR Industrial Select
Read moreLondon close: Winning streak ends
14th Jul 2010 17:05
A spirited late rally was not enough to return Footsie into positive territory. The blue-chip index recovered from its nadir of 5,206 to rise almost 50 points in the last 90 minutes of trading. Just a third of the blue-chip index's constituents advanced on the day and chief among them was chip desi
Read moreLondon afternoon: Drift lower continues
14th Jul 2010 14:54
A soft start on Wall Street has seen London slide further into the red although there do remain some bright spots. Chief among them is chip designer ARM, which has been lifted by Intel's record results announced last night. Goldman Sachs has responded to Intel's results by upping its price target
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