Wednesday broker round-up UPDATE
10th Apr 2013 08:57
African Barrick Gold: Westhouse Securities upgrades from sell to neutral with a target price of 195p. Deutsche Bank reduces target price from 340p to 230p keeping its hold rating. African Minerals: Deutsche Bank reduces target price from 620p to 594p and leaves its buy recommendation unaltered. An
Read moreLondon open: Chinese demand hopes drive markets higher early on
10th Apr 2013 08:20
Stocks started Wednesday's session with decent gains, tracking Asian markets higher after on the back of optimism regarding central-bank stimulus. Investors were shrugging off a surprise trade deficit in China in March, as the data showed a strong rebound in imports. Export growth, however, was wea
Read moreLondon close: Resource-heavy FTSE 100 lifted by slowing Chinese inflation
9th Apr 2013 16:37
Slowing inflation in China and a strong start to the US earnings season by Alcoa boosted the UK's resource-heavy FTSE 100 stock index on Tuesday, with miners leading the surge. Meanwhile, a raft of upbeat economic data from closer to the home lifted sentiment in the UK today, including better-than-
Read moreSector movers: Miners gain as Chinese inflation slows
9th Apr 2013 15:42
Mining stocks were the best performers in London on Tuesday on the back of inflation data from China, which showed that price rises had slowed dramatically in March. Chinese consumer-price inflation slowed to a 2.1% annual rate in March, down from 3.2% in February when prices soared on the back of
Read moreFTSE 100 movers: Miners get boost from Alcoa and Chinese inflation
9th Apr 2013 14:31
Strong results from mining heavyweight Alcoa and slowing inflation in China were lifting resource stocks in London today, with ENRC, Vedanta, Rio Tinto, EVRAZ and Anglo American all making strong gains. The latter's shares were also lifted after the miner reported it would produce three per cent m
Read moreLondon midday: Miners lead the Footsie higher
9th Apr 2013 11:33
Miners were making impressive gains by Tuesday lunchtime after price rises in China slowed more than forecast in March, increasing hopes that the People's Bank of China will hold off from tightening policy for the time being. Chinese consumer-price inflation slowed to a 2.1% annual rate in March,
Read moreLondon open: Mining stocks boosted by Alcoa, Chinese inflation
9th Apr 2013 09:08
The FTSE 100 opened strongly on Tuesday, taking its cue from a decent finish on Wall Street after bellwether Alcoa reported better-than-expected profits in the first quarter, kicking off earnings season with a bang. Profits from the aluminium producer rose 59% year-on-year despite a slight drop in
Read moreSector movers: Miners track metals lower as Credit Suisse cuts price forecasts
3rd Apr 2013 13:48
With the exception of Vedanta Resources, mining stocks were sold off across the board on Wednesday as metals prices came under pressure. Weak manufacturing data from the US, Europe and the UK this week sent both silver and copper prices to eight-month lows today. EVRAZ, ENRC, Fresnillo, Glencore
Read moreRio Tinto to sell Australian coal assets to cut costs
3rd Apr 2013 13:30
Rio Tinto has hired Deutsche Bank to help sell Australian coal assets that could bring in around three billion dollars, The Wall Street Journal reported Wednesday. As part of the deal, Rio Tinto is searching for buyer for up to 29% of its Coal & Allied unit, which owns mines in the Australian state
Read moreLondon midday: Stocks pull back ahead of rate decisions, US jobs report
3rd Apr 2013 11:49
Sharp falls in the mining sector and a number of heavyweight stocks going ex-dividend ensured that London markets were firmly in negative territory on Wednesday morning, with investors scaling back risk ahead of some key events later this week. "With three major central bank meetings taking place o
Read moreBroker tips: Miners, Schroders, Babcock
3rd Apr 2013 10:43
Credit Suisse made across-the-board target-price cuts in the mining sector on Wednesday, highlighting the impact of supply overhang on metals prices this year. "Despite more restrained spending, 2013/14 will be a period of price discovery, as markets move into surplus and the sector lives through t
Read moreBroker snap: Credit Suisse sees downside risk to metals prices
3rd Apr 2013 09:21
Credit Suisse made across-the-board target-price cuts in the mining sector on Wednesday, highlighting the impact of supply overhang on metals prices this year. In a research note, the broker said that softer-than-expected demand for commodities has brought the attention back to supply growth, parti
Read moreLondon open: Markets turn cautious ahead of risk events this week
3rd Apr 2013 08:41
Markets shrugged off some strong economic data from China on Wednesday morning to trade firmly in the red with traders nervous ahead of central bank meetings tomorrow and US employment data on Friday. "European markets opened cautiously today as investors opted to mirror the lack of enthusiasm show
Read moreWednesday broker round-up UPDATE
3rd Apr 2013 08:41
Aggreko: Credit Suisse takes target price from 1850p to 2000p staying with its neutral rating. Andor Technology: Investec ups target price from 500p to 525p reiterating a buy recommendation. AngloAmerican: Credit Suisse cuts target price from 2100p to 1900p and reiterates a neutral rating. Antofa
Read moreLondon midday: Stocks fall on concerns over Italy and Cyprus
27th Mar 2013 11:52
Worries about Italy and Cyprus weighed heavily on stock markets on Wednesday morning as the Eurozone crisis showed no signs of abating. The political impasse in Italy has continued with centre-left leader Pier Luigi Bersani failing to persuade Silvio Berlusconi's centre-right party to support a min
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