London pre-open: UK stocks to open higher after long weekend
7th Apr 2015 07:44
UK stocks are expected to open in positive territory on Tuesday morning following a four-day weekend, tracking gains on Wall Street. City sources predict the FTSE 100 will open 37 points higher than Thursday's close of 6,833.46. "European markets have been closed since Thursday and so they have a l
Read moreRio Tinto sees strong demand for share buyback
7th Apr 2015 07:22
Mining giant Rio Tinto has completed a bigger-than-expected off-market share buyback due to strong demand. The company, as part off its planned US$2bn capital return announced in February, repurchased 11.6m shares at a price of A$560m Australian dollars (US$431m). This was higher than the A$500m (U
Read moreSector Movers: Consumables lead FTSE 100 higher on a dire day for miners
2nd Apr 2015 11:45
Consumables related stocks kept the FTSE 100 firmly in the green on Thursday as miners endured a pummelling from investors. At 15:50 the FTSE 100 was trading up 0.38% or 25.69 points at 6835.19 led higher by food and beverage stocks. Coca Cola HBC (up 3.85%) and Marks & Spencer (up 3.68%) topped the
Read moreIron ore prices slump to 10-year low, mining stocks pummelled
2nd Apr 2015 09:26
The price of iron ore has plunged below $50 per metric tonne for the first time in over 10 years, as oversupply and lacklustre Chinese demand continue to hound the market. Nearing the close of Asian trading on Thursday, benchmark iron ore for immediate delivery ex-Tianjin, China was trading down 3.9
Read moreFTSE 100 movers: Shell boosted by Alaskan exploration approval, banks higher
1st Apr 2015 13:19
Oil major Shell was making gains after being given the green light by the US government to restart an exploration campaign in the Alaskan Arctic. Imperial Tobacco rebounded from Tuesday's losses, which were driven by concerns that the Lorrillard-Reynolds merger will fall apart. Banks such as Barcla
Read moreBroker tips: Mining stocks, Lloyds, Rolls-Royce, Asos
1st Apr 2015 11:17
JPMorgan Cazenove has reduced target prices across the UK mining sector after lowering its commodity forecasts, predicting further demand weakness, especially from China, in the second quarter. The broker has lowered its 2015/2016 forecasts for copper prices by 3%/6%, aluminium by 5%/9%, zinc by 4%/
Read moreJPMorgan cuts mining forecasts on further demand weakness in Q2
1st Apr 2015 10:01
JPMorgan Cazenove has reduced target prices across the UK mining sector after lowering its commodity forecasts, predicting further demand weakness in the second quarter. The demand for base metals in China was weaker than predicted in January and the robust pick-up post Chinese New Year that many ha
Read moreLondon open: Stocks snap losing streak on central bank hopes
30th Mar 2015 08:35
UK stocks were snapping a four-day losing streak on Monday morning as hopes for central bank support repaired sentiment. London's FTSE 100 was up 0.58% at 6,894.60 early on. "The FTSE saw tentative gains this morning as the UK index tried to stall the four consecutive days of huge losses that saw t
Read moreFTSE 100 movers: Standard Chartered soars on upgrade, miners higher
23rd Mar 2015 12:52
Standard Chartered topped the risers after having its rating upgraded from 'neutral' to 'overweight' at JPMorgan. The broker said: "We believe that last week's UK budget may lead the market to attach a higher probability of strategic actions to change domicile and unlock value." Miners such as BHP B
Read moreFTSE 100 movers: CRH higher on merger agreement, Next hit by downgrade
20th Mar 2015 12:53
CRH was the biggest gainer on the Footsie after building materials giants Lafarge and Holcim agreed upon terms for a merger. Shares in Tullow Oil surged after the West Africa-focused exploration outfit announced it had successfully negotiated for access to £450m in fresh financing. Morrison was als
Read moreLondon close: FTSE jumps 1.6% after business-friendly Budget, Fed meeting ahead
18th Mar 2015 16:41
Those expecting little market reaction to the Budget on Wednesday were probably left surprised, with stocks in the energy, financial, housing and consumer staples sectors leading the surge in London following George Osborne's statement. Dovish comments from Bank of England policymakers were also buo
Read moreFTSE 100 movers: Standard Chartered surges on upgrades, miners lower
18th Mar 2015 12:58
Shares in Standard Chartered surged after analysts at Barclays and Bernstein raised their ratings, highlighting the recent appointment of a former JPMorgan banker as its new boss. Barclays lifted their stance from 'equal weight' to 'overweight', while Bernstein upgraded by two notches from 'underper
Read moreFTSE 100 movers: CRH lower on Holcim rejection, miners and energy stocks higher
17th Mar 2015 12:39
Building materials group CRH was extending losses after Holcim on Monday rejected the terms of its proposed tie-up with Lafarge. CRH is set to snap up €6.5bn of assets from the two European cements companies when they merge. Tesco shares were in the red, reversing from Monday, alongside Morrison, as
Read moreMonday broker round-up
16th Mar 2015 15:59
Bodycote: N+1 Singer downgrades to hold. Morrrison: Deutsche Bank lifts target to 210p from 190p and reiterates hold. Centrica: Deutsche Bank reiterates hold and 280p target price. Rio Tinto: HSBC downgrades to neutral. IGas Energy: Cannacord Genuity lowers target to 85p from 125p and reiterates
Read moreFTSE 100 movers: Retailers dominate risers, CRH lower on rejected merger
16th Mar 2015 14:08
Tesco led the FTSE 100 risers on reports that advertising and marketing giant WPP Group could potentially buy a majority stake in the supermarket's consumer behaviour tracker Dunnhumby. The business is valued at around £2bn and would offer WPP with an insight into UK shopping habits, the Sunday Tele
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