London midday: Stocks flat as markets digest mixed data
16th Jul 2013 11:46
The UK stock market was flat on Tuesday morning, pausing for breath after hitting highs not seen in seven weeks, as investors reacted to a barrage of mixed economic data. The UK annual consumer price index (CPI) hit a 14-month high of 2.9% in June, up from 2.7% in May. While this came in slightly b
Read moreBroker tips: Retailers, Babcock, Rio Tinto
16th Jul 2013 11:45
Nomura has lifted its view on the UK retail sector from 'neutral' to 'bullish', even though the category has outperformed the wider market so far this year. Nomura has raised its recommendation for electrical retailer Dixons from 'neutral' to 'buy', lifting its target price from 31p to 60p, saying
Read moreBroker snap: Rio Tinto a 'buy' after Q2 beat
16th Jul 2013 10:53
Investec has maintained its 'buy' rating and 3,303p target price for diversified mining group Rio Tinto after the firm's upbeat second-quarter operational update on Tuesday. Analyst Hunter Hillcoat said that the most important division, iron ore, delivered production ahead of Investec's forecasts:
Read moreLondon open: Markets flat ahead of economic data
16th Jul 2013 08:24
The FTSE 100 opened flat on Tuesday morning, holding on to a near a seven-week high, as investors paused for breath ahead a barrage of economic indicators due out during the session. London's benchmark index had closed at 6,586 on Monday, its highest closing level since May 30th when it reached 6,6
Read moreLondon pre-open: Small gains expected ahead of economic data
16th Jul 2013 07:51
Another record close on Wall Street and a decent finish on Asian markets are expected to push UK stocks into positive territory in early trading on Tuesday. City sources predict the FTSE 100 will open up around 10 points from yesterday's close of 6,586. Citigroup yesterday joined Wells Fargo and J
Read moreRio Tinto delivers record iron ore output in first half
16th Jul 2013 07:08
Diversified mining group Rio Tinto was able to work through a equipment issues and unseasonal wet weather in Australia to deliver record iron ore production in the first half. Output across most other commodity classes also increased year-on-year, though falls were reported in hard coking coal pro
Read moreLondon open: FTSE 100 near seven-week high after China data
15th Jul 2013 08:24
Worries about a sharp slowdown in China temporarily eased on Monday morning, pushing the FTSE 100 to levels not seen in nearly seven weeks. London's benchmark index started the new week trading near the 6,600 level early on. The last time the FTSE 100 closed higher was on May 30th. "European marke
Read moreLondon open: Markets extend gains after record highs on Wall Street
12th Jul 2013 08:51
Markets looked set to end the week on a high note with financial stocks lifting the FTSE 100 higher in early trading on Friday, as sentiment was buoyed by record highs on Wall Street last night. Both the Dow Jones and S&P 500 indices closed at their highest ever levels on Thursday, while the Nasdaq
Read moreLondon close: Miners lead FTSE 100 higher after Bernanke comments
11th Jul 2013 16:46
Dovish comments from Federal Reserve Chairman Ben Bernanke sparked a sharp fall in the dollar and a strong rise in commodity prices on Thursday, sending mining equities soaring in London. The FTSE 100 finished the session up 38 points (+0.6%) at 6,543, a level not seen since June 4th, with resource
Read moreSector movers: Miners track metals higher after Bernanke comments
11th Jul 2013 15:49
Rising commodity prices lifted equities in the mining sectors on Thursday with gold stocks among the best performers as the price of the precious metal jumped the most in a year on the back of comments from Federal Reserve Chairman Ben Bernanke. Bernanke said last night that the US economy needs "h
Read moreLondon midday: Bernanke comments drive gains on FTSE 100
11th Jul 2013 11:35
A strong performance in the mining sector ensured that the FTSE 100 was trading firmly in positive territory on Thursday after dovish comments from Federal Reserve Chairman Ben Bernanke sparked gains in commodity prices. "After June's sell-off in risk assets was attributed to seemingly hawkish comm
Read moreLondon open: FTSE 100 up one per cent, miners surge after Bernanke comments
11th Jul 2013 08:36
Dovish comments from Federal Reserve Chairman Ben Bernanke prompted some strong gains on the FTSE 100 on Thursday morning, as mining stocks tracked metals prices higher on the back of a weaker US dollar. "Bernanke and his colleagues are trying to reassure the market by communicating that even once
Read moreLondon midday: Miners drag markets lower after Chinese data
10th Jul 2013 11:33
The FTSE 100 had slipped into the red on Wednesday morning with markets turning cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Disappointing trade figures from China were also weighing on sentiment today, pressur
Read moreBroker snap: Goldman cuts target prices across mining sector
10th Jul 2013 09:07
Goldman Sachs has singled out Vedanta Resources and First Quantum Minerals (FQM) as 'buys', but has retained its cautious stance on the mining sector as a whole, cutting its target prices for most stocks under its coverage. In spite a potential buying opportunity caused by the steep sell-off so far
Read moreWednesday broker round-up UPDATE
10th Jul 2013 08:59
Anglo American: Goldman Sachs reduces target price from 1400p to 1100p and retains a sell recommendation. Antofagasta: Goldman Sachs takes target price from 935p to 810p reiterating its neutral rating. Babcock: JP Morgan increases target price from 1230p to 1380p and retains an overweight rating.
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