Sector movers: Miners track metals higher after Fed minutes
9th Oct 2014 14:50
Mining stocks were leading the gains on London's stock market on Thursday as metal prices advanced amid hopes that the US Federal Reserve will not rush to raise interest rates. A dovish set of minutes from the latest Federal Open Market Committee meeting sparked a steep fall in the dollar on Wednesd
Read moreRio Tinto completes sale of Mozambique coal business
8th Oct 2014 08:09
Mining group Rio Tinto has completed the sale of its Mozambique coal business, it said on Wednesday. Rio, which this week said it had rebuffed a takeover approach from rival Glencore in August, said it sold Rio Tinto Coal Mozambique to International Coal Ventures Private Ltd after meeting all condit
Read moreFTSE 100 movers: Tesco leads risers, but travel stocks slide on Ebola fears
7th Oct 2014 15:40
Supermarkets were continuing to claw their way back after a string of profit warnings and an accounting scandal at Tesco hammered sentiment last month. Shares in the UK's largest retailer were trading nearly 5% higher after the news that the company has asked another senior manager to step down and
Read moreSector movers: Ebola fears hammer travel stocks, but grocers and miners rise
7th Oct 2014 14:19
Fears about the fallout from a potential Ebola outbreak hammered stocks in the travel and leisure sectors on Tuesday with UK-listed airlines and tour operators dropped sharply. In contrast, supermarket and mining stocks were bucking the trend with the two sectors, which have both bore the brunt of t
Read moreLondon midday: Mining gains offset by falls from airline, healthcare stocks
7th Oct 2014 11:36
Poor economic data was weighing on UK stocks on Tuesday, with decent gains in the mining sector offset by falls from airlines and pharmaceuticals. The FTSE 100 was trading 0.6% lower at 6,522 by around midday. Nervousness ahead of the start of third-quarter earnings season in the States was also ca
Read moreTuesday broker round-up UPDATE
7th Oct 2014 09:45
African Minerals: Canaccord Genuity lowers target price from 20p to 15p with a hold recommendation. Aggreko: Exane initiates with a target price of 1500p and an underperform rating. Amec: Liberum Capital cuts target price from 1035p to 908p staying with its sell recommendation. Antofagasta: Canacc
Read moreLiberum crushes hopes for renewed Glencore approach for Rio Tinto
7th Oct 2014 09:27
Hopes of a renewed Glencore approach for Rio Tinto sent shares in the latter surging on Tuesday, but analysts at broker Liberum reckon that a merger of the two parties won't come to fruition. Rio revealed that it had turned down the advances of Glencore after an approach from the mining and commodit
Read moreLondon open: UK stocks drop despite mining gains
7th Oct 2014 08:27
Strong gains in the UK mining sector weren't enough to keep London's FTSE 100 from slipping into the red on Tuesday morning. Indices across Europe were tracking a weak finish on Wall Street and a mixed performance on Asian markets overnight. The FTSE 100 was trading 0.6% lower at 6,526 within the o
Read moreLondon pre-open: Slight losses expected for FTSE at opening bell
7th Oct 2014 07:47
A slight drop is being predicted for London's blue chips, with a generally mixed picture anticipated for Europe as a whole. City sources predict the FTSE 100 will open around 10 points lower than yesterday's close of 6,563.65, ahead of what is expected to be another relatively quiet session. Alpari
Read moreRio Tinto rejected Glencore approach in August, company reveals
7th Oct 2014 06:45
British-Australian diversified resources group Rio Tinto has revealed that it had turned down the advances of Glencore after an approach from the mining and commodities giant in the summer. The deal would have created the biggest mining company in the world with a market value estimated to be $160bn
Read moreSector movers: Basic resource shares slide on dollar strength
6th Oct 2014 13:53
Oil and basic resource stocks bore the brunt of selling on Thursday, as markets continued to react to the better-than-expected economic data trickling in from the States with the concomitant robustness in the US dollar which that entails. US durable goods orders declined 18.2% in August following a
Read moreSector movers: Broker commentary buoys miners
6th Oct 2014 13:45
Better-than-expected economic data Stateside and the prospect of further easing from the European Central Bank lent support to the shares of mining and basic resource companies on Wednesday. Positive broker commentary and a small up-tick in risk aversion as the US and its allies carried out a first
Read moreSector movers: Kantar data weighs on grocers
6th Oct 2014 13:33
Supermarket operators were clearly at the bottom of the pile on Tuesday after market researcher Kantar published new figures showing a stagnating food retail environment. Fraser McKevitt, head of retail and consumer insight at Kantar, said: "For the first time ever we've seen the average basket of e
Read moreFTSE 100 movers: Easyjet soars after impressing with H2 update
3rd Oct 2014 15:58
Easyjet shares took off after the budget airline increased its outlook for the half year ended 30 September from between £545m and £570m to between £575m and £580m, thanks to a strong finish to the summer season, which saw increased revenue per seat. The group has also benefited from the Air France
Read moreTuesday broker round-up UPDATE
30th Sep 2014 09:50
Aberdeen: Goldman Sachs ups target price from 540p to 560pp retaining a buy recommendation. African Barrick Gold: Deutsche Bank moves target price from 270p to 280p and reiterates a hold recommendation. Investec lowers target price from 260p to 258p, while upgrading to buy. African Minerals: Invest
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