Rio Tinto to drastically reduce spend over next two years
3rd Dec 2013 09:33
- Capex to be reduced 20 per cent YOY - Headcount reduced by 3,800 since June 2012 - Production to reach more than 350m tonnes in 2017 Mining behemoth Rio Tinto on Tuesday held an investor conference in Australia, at which it revealed the 'tough decision' to cut its capital expenditure (capex) over
Read moreTuesday broker round-up UPDATE
3rd Dec 2013 09:10
Arrow Global: Numis starts with a target price of 270p and an add rating. Antofagasta: UBS shaves target price from 870p to 845p, 'neutral' rating maintained. Aquarius Platinum: UBS cuts target price from 44p to 43p, 'neutral' rating kept. Ashtead Group: Citi raises target price from 750p to 800p
Read moreLondon open: Mining stocks drag UK markets lower early on
3rd Dec 2013 08:27
- Miners fall after steep drop in metal prices yesterday - Risk appetite scaled back ahead of US jobs report - HSBC downgraded by Nomura to 'neutral' techMARK 2,657.15 +0.13% FTSE 100 6,580.97 -0.22% FTSE 250 15,306.73 -0.18% Continued weakness in the mining sector dampened the FTSE 100 in London
Read moreBroker snap: 2015 could be 'fillip year' for miners, says Citigroup
2nd Dec 2013 16:23
Citigroup on Monday maintained its 'neutral' rating on the metals and mining sector, but recommended investors to position themselves for a 'fillip year' for the industry in 2015. The bank kept its cautious stance on the sector on a six-month view after it underperformed the wider FTSE 100 for the
Read moreSunday share tips: Rio Tinto, Sage, house builders
1st Dec 2013 16:21
Buy Rio Tinto and Anglo American, the Sunday Times's Simon Duke recommended in the Inside the City column. Both companies are scheduled to make presentations to investors in December. Their current bosses have departed from the big-spending ways of miners in the past and now focus on shareholder val
Read moreFTSE 100 movers: Experian declines on Goldman Sachs's advice
29th Nov 2013 15:02
Shares of Experian fell to the bottom of the pile after Goldman Sachs recommended shifting the stock. The broker reduced its rating on the stock to "sell" from "neutral". Kingfisher also fell after the DIY retailer's third-quarter results coming in well below forecasts on Thursday. The B&Q and Scr
Read moreLondon midday: Stocks rise, US futures point up as Wall Street re-opens
29th Nov 2013 11:46
- Miners lead markets higher as metals prices rise - S&P lifts Spanish outlook, Eurozone unemployment falls - UK consumer confidence falls again - US futures up, retailers in focus on Black Friday techMARK 2,677.17 +0.34% FTSE 100 6,670.61 +0.24% FTSE 250 15,483.33 +0.33% UK markets were registeri
Read moreFriday broker round-up UPDATE
29th Nov 2013 08:52
Bovis Homes: Panmure Gordon ups target price from 875p to 900p and stays with its buy recommendation. BowLeven: Barclays cuts target price from 175p to 135p maintaining its overweight rating. BT Group: Jefferies shifts target price from 430p to 435p and retains a buy recommendation. Compass Group
Read moreLondon open: Miners lift FTSE 100 higher early on
29th Nov 2013 08:44
- Trading volumes to pick up later on, says analyst - UK consumer confidence falls again - Miners gain; housebuilders extend losses techMARK 2,674.86 +0.26% FTSE 100 6,666.33 +0.18% FTSE 250 15,468.87 +0.24% UK markets edged higher in early trading on Friday following a quiet session the day befor
Read moreLondon pre-open: Slow start expected as confidence falls but house prices gain
29th Nov 2013 07:18
- Flat to modest start expected on FTSE - UK confidence shows surprise fall - UK house prices rise above expectations City sources predict the FTSE 100 will open around two points lower than yesterday's close of 6,654.47 after a quiet session yesterday as the US celebrated the Thanksgiving holiday.
Read moreRio Tinto part-suspends uneconomic Gove refinery
29th Nov 2013 07:03
- Alumina production to be suspended - Gove will still produce bauxite Rio Tinto said it plans to temporarily suspend alumina production at its Gove refinery in Australia as it is 'no longer viable' in the current economic environment. The FTSE 100 company said it will focus on bauxite operation
Read moreLondon close: Markets inch higher on quiet day, but housing stocks sink
28th Nov 2013 16:28
- FTSE 100 edges higher, global equities close to six-year high - US markets closed for Thanksgiving - Housing, tobacco stocks pressured by government policy techMARK 2,668.00 +0.35% FTSE 100 6,654.47 +0.08% FTSE 250 15,431.80 +0.16% The FTSE 100 registered small gains on Thursday on a relatively
Read moreSector movers: Rio Tinto's expansion plans lift mining stocks
28th Nov 2013 15:58
A well-received statement from London-listed diversified mining group Rio Tinto and rising metals prices gave mining sectors a boost on Thursday. Rio Tinto today announced plans to ramp up production at its iron ore business in Western Australia. The FTSE 100 group expects mine production capacity
Read moreFTSE 100 movers: Rio Tinto gains on production increase
28th Nov 2013 15:03
Rio Tinto gained strongly after saying it will increase its mine production capacity at lower capital cost per tonne at its iron ore business in Western Australia. The miner expects mine production capacity will increase by more than 60m tonnes per year between 2014 and 2017 from a run base rate of
Read moreBroker tips: WPP, Rio Tinto, Thomas Cook
28th Nov 2013 12:04
WPP's share price was performing well on Thursday after UBS increased its target for the stock from 1,300p to 1,500p and raised its growth forecasts on the back of an optimistic outlook for the advertising and media giant. "We argue that corporates will increase their investment in the services WPP
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