Copper futures jump on reports strike at BHP's Escondida to begin Thursday
8th Feb 2017 10:52
(ShareCast News) - Copper futures jumped early on Wednesday morning amid news that talks between BHP Billiton and workers at its Escondida mine had broken down. According to reports, that opened the way for industrial action of indefinite length starting on 9 February. As of 1025 GMT three-month co
Read moreRio Tinto swings to full-year profit
8th Feb 2017 07:08
(ShareCast News) - Mining giant Rio Tinto swung to a profit in the year to the end of December thanks to a recovery in commodity prices, as it announced a better dividend than expected and a $500m share buyback. Net earnings came in at $4.6bn compared to a loss of $866m the year before as most commo
Read moreTuesday broker round-up
7th Feb 2017 15:10
(ShareCast News) - Cairn Energy: Deutsche Bank upgrades to buy with a target price of 275p. Servelec Group: Berenberg reiterates buy, 391p target. Anglo American: JP Morgan reiterates overweight with a 1470p target. Premier Oil: Deutsche Bank downgrades to hold with a 90p target. Sanne Group: Be
Read moreWednesday preview: Rio Tinto set to report rise in full year earnings
7th Feb 2017 13:03
(ShareCast News) - Rio Tinto is expected to report on Wednesday a 7% increase in underlying profit in 2016, boosted by a recovery in commodity prices. The mining giant has particularly benefitted from a pick-up in iron ore prices - a major source of revenue for the mining giant - in the second half
Read moreMonday broker round-up
6th Feb 2017 12:34
(ShareCast News) - Rio Tinto: Macquarie reiterates outperform with a target price of 4300p. Barclays: HSBC reiterates buy, 260p target. Restaurant Group: UBS reiterates neutral with a 310p target. Beazley: JP Morgan reiterates overweight with a 460p target. Inchcape: Deutsche Bank reiterates buy
Read moreWednesday broker round-up
25th Jan 2017 09:59
(ShareCast News) - Paddy Power: Barclays reiterates Overweight with a target price of 110p. Reckitt Benckiser: Berenberg upgrades to Buy with a target price of 7,900p. Crest Nicholson: Deutsche Bank reiterates Hold with a target price of 564p. BT Group: Citi reiterates Buy with a target price of 4
Read moreSector movers: Miners pace gains
24th Jan 2017 16:08
(ShareCast News) - Shares in Anglo American stood out on news that De Beers had reaped $720m in rough diamond sales from the first cycle of 2017. This was 32% ahead of the $545m in the same cycle last year and 70% up on the last cycle of 2016. Analysts at Credit Suisse said the results suggested en
Read moreRio Tinto agrees $2.45bn Coal & Allied sale to Yancoal Australia
24th Jan 2017 09:03
(ShareCast News) - Rio Tinto has agreed the $2.45bn-plus-royalties sale of its Coal & Allied Industries thermal coal business in New South Wales to Yancoal Australia. Rio will receive an initial $1.95bn cash payment payable at completion plus $500m in deferred cash payments payable over five years f
Read moreWednesday broker round-up
18th Jan 2017 09:48
(ShareCast News) - Hochschild Mining: RBC Capital Markets reiterates Outperform with a target price of 290p. Pearson: Liberum reiterates Sell with a target price of 470p. IG Group: Barclays reiterates Overweight with a target price of 612p. British American Tobacco: Citi reiterates Buy with a targ
Read moreRio Tinto hails strong 2016 as iron ore production hits target
17th Jan 2017 07:13
(ShareCast News) - Mining giant Rio Tinto hailed a strong operational performance in 2016 with an on-target increase in iron ore production. Pilbara iron ore production gained 6% to 329.5m tonnes in the year ended 31 December 2016, with iron ore shipments up 3% to 327.6m tonnes. In 2017, Rio Tinto'
Read moreSector movers: Miners higher on HSBC upgrades
16th Jan 2017 14:50
(ShareCast News) - Miners paced gains in the market following multiple upwards target price revisions from analysts at HSBC on LSE-listed copper miners and diversified miners. In the case of the former, the broker's analysts said they had raised their copper price forecast from 2017 onwards by betwe
Read moreHSBC lifts target prices on diversified miners
16th Jan 2017 13:54
(ShareCast News) - HSBC revised its target prices higher for the largest of the diversified miners, telling clients it now expected a decline in commodity prices to be less pronounced that it had previously foreseen. Furthermore, China's decision to reduce its output of coal was now projected to hav
Read moreSector movers: Miners rise on Chinese lending data, US dollar weakness
12th Jan 2017 15:00
(ShareCast News) - Mining stocks were again in favour on Thursday as metals´ prices continued to gain in overnight trading on the heels of stronger than expected lending data for Asia´s largest economy and positive newsflow on specific commodities. Continued selling in the US dollar after the Presid
Read moreTuesday newspaper round-up: Brexit transition, hiring, Rio Tinto, Glencore
13th Dec 2016 07:05
(ShareCast News) - Philip Hammond has conceded that there is likely to be a transition period after formally leaving the European Union in 2019 to ease Britain's exit. The chancellor said that a temporary arrangement following the two years of Article 50 negotiations was in both the UK and the EU's
Read moreSector movers: Miners jump, banks not far behind
7th Dec 2016 15:42
(ShareCast News) - Miners were higher, boosted by news that Chinese authorities would reduce polluting steel-scrap processing in 2017 and ahead of options declarations on the LME, on Wednesday. The news out of China pushed steel rebar futures up from $489.4 per tonne to $495.00 in Shanghai. Spot ir
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