Rio Tinto extends tenure of CEO and CFO
23rd Oct 2014 06:26
Natural resources group Rio Tinto has announced that its chief executive Sam Walsh and chief financial officer Chris Lynch have had their fixed-term retirement dates pushed back. Chairman Jan du Plessis said the board has agreed with both directors on new "long-term, open-ended commitments" and that
Read moreBroker tips: Shire, Hargreaves Lansdown, Rio Tinto, Balfour Beatty
15th Oct 2014 12:25
Abbvie's potential $54bn takeover of Shire should still go through, according to an analyst at Panmure Gordon, despite fears on Wednesday of the deal sinking after the US firm said it was reconsidering. "The board of Abbvie has a responsibility to its shareholders to consider new facts relating to a
Read moreCanaccord keeps 'buy' on Rio Tinto after Q3 production report
15th Oct 2014 10:41
Rio TInto remains Canaccord Genuity's top pick in the large-cap mining sector after the group's third-quarter production update on Wednesday. Shipments from its main division, iron ore, increased by 15% year-on-year in the third quarter to 78m tonnes, while production rose 12% to 76.8m tonnes. This
Read moreLondon pre-open: Little change expected ahead of data
15th Oct 2014 07:46
There is little change expected at Wednesday's opening bell, with City sources predicting the FTSE 100 will open around three points lower than Tuesday's close of 6,392.68. The session is set to be data-heavy, with the release of reports on Chinese inflation, German inflation, UK jobs and US retail
Read moreRio Tinto delivers record Q3 for iron, lifts copper guidance
15th Oct 2014 07:36
Mining group Rio Tinto said it achieved "another strong quarter" with iron ore shipments, production and rail volumes reaching record highs, while it lifted its full-year guidance for copper output. Iron ore shipments increased by 15% year-on-year in the third quarter to 78m tonnes, while production
Read moreSector movers: Mining stocks continue to rise as China concerns ease
14th Oct 2014 14:20
Mining stocks were on the rise again on Tuesday as share prices continued to rebound after a recent slump. Fears about a global economic slowdown have weighed heavily on equity markets over recent weeks with the mining sector bearing the brunt of the sell-off as commodity prices dropped. However, c
Read moreLondon midday: Weak economic data and earnings sink stocks
14th Oct 2014 12:10
A wave of disappointing corporate updates and worse-than-expected data from the Eurozone pushed UK stocks firmly into the red on Tuesday, as concerns about the global economy continued to weigh on sentiment. The FTSE 100 was down 0.7% at 6,322 by midday, as gains in the mining sector were offset by
Read moreLondon open: UK stocks slip on weak earnings, Burberry drops
14th Oct 2014 09:05
UK stocks declined on Tuesday as gains in the mining sector were offset by disappointing updates from the likes of Burberry, Hargreaves Lansdown, SABMiller, Michael Page International and Mulberry. The FTSE 100 was trading 0.4% lower at 6,344 in early trading as the index continues to rumble along a
Read moreTuesday tips round-up: BHP Billiton, Rio Tinto, Glencore
14th Oct 2014 06:58
Anyone wishing to peer into the future might be advised to observe the goings-on in north-western Australia. They will find 3-km long robo-trains careening through the landscape. It is precisely these futuristic machines which have allowed BHP to drastically reduce the cost of bringing new supplies
Read moreSector movers: Mining stocks rebound after recent drop
13th Oct 2014 13:33
UK-listed mining stocks, which bore the brunt of the recent market sell-off, jumped by an average of 3% on Monday as strong economic data from China prompted investors to hunt for bargains. The FTSE 350 mining sector had by Friday's close fallen by 19% since the end of July as anxieties about slowin
Read moreBroker tips: Randgold, AB Foods, Smith & Nephew, Mining stocks
13th Oct 2014 12:57
Randgold Resources' share price was given a lift on Monday by analysts at UBS who upgraded the stock from 'neutral' to 'buy' after a recent slump in the value of the gold miner. The bank said that it still prefers precious metals peer Fresnillo over Randgold, but reckons that the risk/reward balance
Read moreLondon midday: Stocks erase losses on mining strength, Synergy soars
13th Oct 2014 11:35
After a weak start, UK stocks had erased losses by Monday lunchtime, helped by decent gains in the heavyweight mining sector and a takeover offer for Synergy Health. London's FTSE 100 was trading 0.3% higher at 6,358 by around midday, bouncing off a low of 6,302 reached in early deals. UK equities
Read moreStick with miners despite short-term pain, Canaccord recommends
13th Oct 2014 10:27
Diversified mining stocks may come under further selling pressure in the short-term, but the long-term story looks positive, according to broker Canaccord Genuity. Analysts recommended investors "build positions in this period of share-price weakness". After recent dramatic falls in metal prices
Read moreLondon open: UK stocks fall for fifth day, but miners advance
13th Oct 2014 08:32
There was no let-up in the selling pressure on Monday as the UK stock market resumed its sell-off despite a strong performance by the mining sector. After falling 2.7% last week, the FTSE 100 was down a further 0.4% at 6,314 in early trading, falling for the fifth session in a row. If the index ends
Read moreFTSE 100 movers: Numis upgrades lift Randgold and Antofagasta
9th Oct 2014 15:36
Randgold Resources jumped after Numis upgraded the miner to 'buy' from 'add', while the same broker also gave sector peer Antofagasta a boost after upgrading it from 'reduce' to 'hold'. Fresnillo and Polymetal also gained as a weaker dollar prompted a jump in gold and silver prices. Rolls-Royce was
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