Sector 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
Read moreLondon close: FTSE 100 declines as mining stocks fall on dollar advance
25th Sep 2014 17:14
teerngasLondon's top shares tumbled on Thursday as the rising dollar took its toll on mining and energy stocks. The FTSE 100 Index closed 66.56p points adrift at 6639.71 as the greenback bounced on speculation of monetary stimulus from the European Central Bank (ECB) and US interest rate hikes. Spe
Read moreMorgan Stanley ups Rio Tinto price target
24th Sep 2014 17:50
Iron ore miner Rio Tinto's chief executive officer is reintroducing the principles which held before the "super-cycle" at the miner, including a dividend pay-out ratio which averaged nearly 50%. That saw the shares trade at a 3% dividend yield or at 0.80 times relative to the FTSE All Share. As we
Read moreLondon midday: Fresnillo and Rio Tinto gain
24th Sep 2014 12:31
The Footsie is holding slightly lower come midday with traders focusing on the ever present risk of something going amiss in a conflict and a weak reading on German business confidence weighing on sentiment. Overnight the US and its allies carried out a first wave of airstrikes against IS targets in
Read moreWednesday broker round-up UPDATE
24th Sep 2014 09:15
Aggreko: Morgan Stanley ups target price from 1350p to 1375p, while leaving its underweight rating unaltered. Alliance Pharma: Canaccord Genuity lowers target price from 35p to 33p reiterating its hold recommendation. Close Brothers Group: UBS moves target price from 1420p to 1430p and keeps a neut
Read moreFTSE 100 movers: Supermarket stocks slide after Kantar data
23rd Sep 2014 16:07
Tesco continued to slide a day after warning that it had "overestimated" its predicted first-half figures with more bad news coming in the form of the latest Kantar data, which showed another drop in the retailer's sales and market share. Shares in sector peer Sainsbury were also weaker after reveal
Read moreFTSE 100 movers: Tesco slides after revising H1 guidance
22nd Sep 2014 14:48
The downside was led by supermarket giant Tesco after the group downwardly revised its profit forecast for the six months ended 23 August, saying it had previously overestimated it by £250m. The food retailer cited "accelerated recognition of commercial income" and "delayed accrual of costs" as the
Read moreSector movers: Retailers and miners lead the downside on the FTSE
22nd Sep 2014 14:23
The supermarket sector was firmly in the red on Monday after Tesco was forced to admit that it had over-stated its first half profit guidance by £250m. The company has suspended four of its executives, including the UK managing director, and said it plans to investigate the matter. The food retaile
Read moreFTSE 100 movers: RBS rises strongly after referendum result
19th Sep 2014 16:03
Royal Bank of Scotland made strong gains following the announcement of the referendum on Scottish independence. SSE, Standard Life and Lloyds were all higher for the same reason. SABMiller was higher after Nomura upgraded the brewing group from 'reduce' to 'neutral' and raised its target for the sh
Read moreSector movers: Mining stocks track metal prices lower
19th Sep 2014 14:11
Mining stocks didnt join in with the post-Scottish referendum euphoria on Friday with share prices in the sector down an average 0.6% in afternoon trade. A broad sell-off of commodity prices was weighing on stocks during the session, with gold in particular trading near an eight-month low as the dol
Read moreLondon midday: UK stocks near two-week high as Scots vote against independence
19th Sep 2014 11:18
UK stocks advanced on Friday, poised to finish at their highest levels in two weeks, after the Scottish people voted in favour of the Union in a crucial independence referendum. Some 55.3% of Scots voted 'no' to independence from the UK while 44.7% voted 'yes', erasing concerns about a break-up whic
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