FTSE 100 movers: Glaxosmithkline upgraded, miners and oil stocks higher
13th Feb 2015 14:29
Glaxosmithkline's shares were given a boost by UBS which upgraded its rating for the pharmaceutical stock by two notches from 'sell' to 'buy', saying that the business is now at an "inflection point" after a tough few years. The bank hiked its target price for the stock from 1,250p to 1,700p. The sh
Read moreLondon close: Stocks rise on Ukraine ceasefire, but gains modest
12th Feb 2015 17:13
UK stocks rose for the first time in five sessions on Thursday after a ceasefire was agreed in eastern Ukraine, though ongoing concerns about Greece and weak economic data from the States limited upside. Investors were also digesting comments from the Bank of England as it upgraded its UK growth for
Read moreRio Tinto unveils plans for $2bn share buyback as quarterly profits beat estimates
12th Feb 2015 17:01
Mining giant Rio Tinto unveiled plans to invest $2bn (£1.30bn) in a share buyback, after the company's annual profit beat estimates. Despite a sharp drop in commodity prices, higher production and lower costs drove full-year profits past expectations. Underlying profit for 2014 fell 9% to $9.3bn, a
Read moreSector movers: Miners rise on Ukraine ceasefire deal, Rio Tinto jumps
12th Feb 2015 14:47
Mining stocks gained on Thursday, benefitting from an increase of risk appetite across financial markets as tensions between Ukraine and Russia eased, while Rio Tinto impressed with its annual results. Russian president Vladimir Putin on Thursday morning confirmed that the country had reached a ceas
Read moreFTSE 100 movers: Coca-cola fizzes up on Ukraine ceasefire, oil and gas lower
12th Feb 2015 14:31
Stocks exposed to Russia and Ukraine, such as Coca-Cola, rose strongly after a ceasefire was agreed between the two nations. The ceasefire will come into effect on Sunday and involves the withdrawal of heavy weapons from conflict areas. Mining group Rio Tinto gained as it pledged to return nearly $6
Read moreRio Tinto hikes full-year divi 12%, proposes $2bn cash return
12th Feb 2015 07:21
Mining group Rio Tinto has pledged to return nearly $6bn to shareholders in respect of 2014 after hiking its full-year dividend by 12% and announcing a $2bn share buyback. "Last year, we made a clear commitment to materially increase cash returns to our shareholders. We have delivered this today," s
Read moreSector movers: Mining stocks in demand despite worsening outlook for China
9th Feb 2015 14:46
Mining stocks were resilient in the face of some gloomy trade figures from top metals consumer China on Monday, as hopes increased for further stimulus measures by Beijing to avert a sharp slowdown in economic growth. The Chinese trade surplus unexpectedly ballooned to a record $60bn in January from
Read moreBroker tips: Mining stocks, CRH, Barclays
2nd Feb 2015 11:38
The recent re-rating in mining stocks and weak commodity prices has prompted Liberum to downgrade its recommendations on sector giants BHP Billiton, Glencore, Anglo American and Rio Tinto. The broker lowered its ratings on all four from 'sell' to 'hold' and slashed target prices, saying that copper
Read moreLiberum downgrades mining stocks to 'sell', cuts copper forecasts
2nd Feb 2015 10:05
The recent re-rating in mining stocks and weak commodity prices has prompted Liberum to downgrade its recommendations on sector giants BHP Billiton, Glencore, Anglo American and Rio Tinto. The broker lowered its ratings on all four from 'sell' to 'hold' and slashed target prices, saying that copper
Read moreSector movers: ECB stimulus gives mining stocks a lift, gold rises
22nd Jan 2015 14:36
Confirmation of a massive bond-buying programme by the European Central Bank (ECB) was well-received by the market on Thursday, with mining stocks among the best performers as shares benefited from an increase in risk appetite. The ECB unveiled a quantitative easing programme totalling €1.1trn, with
Read moreLondon close: Chinese data offsets IMF downgrade
20th Jan 2015 17:23
Stocks ended the session with modest gains on the heels of better-than-expected growth figures in China. The FTSE 100 gained 34.57 points to finish the day at 6,629. China's gross domestic product expanded at a 7.4% clip in 2014, markets seemed to draw comfort from the fact that the rate of expansi
Read moreBroker tips: William Hill, Rio Tinto, IG Group
20th Jan 2015 13:19
Prospects for bookie William Hill are looking up thanks to the company's proprietary, differentiated products and technology, analysts said. On 19 January the bookmaker reported full-year results where operating profits on an EBITA basis were 2% ahead of the consensus forecast at £371m despite custo
Read moreShares of Rio Tinto undervalued, Canaccord says
20th Jan 2015 13:16
Shares of Rio Tinto are undervalued given the prospects for commodity prices and the stock's current valuation, analysts at Canaccord Genuity said on the heels of the company's fourth quarter production report. The broker pointed out how the stock was trading at a multiple of enterprise value to ope
Read moreRio Tinto fourth quarter production disappoints
20th Jan 2015 07:45
Rio Tinto finished the year with weak fourth quarter results roughly in-line with expectations, with the Anglo-Australian mining giant's production of most metals down on the previous quarter. The FTSE 100 behemoth increased its iron ore output, even as prices have tumbled to a five-year low, with i
Read moreLondon close: UK stocks settle at 2015 high as market awaits ECB decision
19th Jan 2015 16:32
London's FTSE 100 eked out a gain of 0.5% on Monday in the absence of US trading, as investors took advantage of a quiet news day to push stocks to their highest levels of the year The Footsie finished 35.26 points higher at 6,585.53, its best finish since 29 December 2014 when it settled at 6,633.5
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