Broker tips: Rio Tinto, Aviva, TUI Travel
27th Mar 2013 11:10
Credit Suisse has kept its 'outperform' rating and 4,000p target price for mining giant Rio Tinto following a revised technical report for the Oyu Tolgoi copper and gold project in Mongolia which included higher costs. "A capex increase has been well anticipated by the market in our view and reflec
Read moreBroker snap: Rio Tinto offers solid value, says Credit Suisse
27th Mar 2013 09:42
Credit Suisse has kept its 'outperform' rating and 4,000p target price for mining giant Rio Tinto following a revised technical report for the Oyu Tolgoi copper and gold project in Mongolia. Turquoise Hill, 51% owned by Rio, released a revised report on the project which pointed higher capital expe
Read moreLondon open: TUI Travel leads markets higher early on
27th Mar 2013 08:28
UK stocks edged higher on Wednesday morning with TUI Travel leading the rise after a decent first-half trading update, as markets tracked gains on US and Asian benchmarks overnight. Better-than-expected durable-goods orders and home prices Stateside lifted sentiment on Wall Street yesterday, pushin
Read moreThursday tips round-up: Genel, Rio Tinto, J.Sainsbury
21st Mar 2013 07:27
Iron ore miners, particularly Rio Tinto, are about to get hit by a large rise in supply, with the three biggest planning to add 200m tonnes of capacity by 2015, which is not far below Rio's annual output today. Hence, while demand is not falling off a cliff and Chinese steel mills have cleared exces
Read moreWednesday broker round-up UPDATE
20th Mar 2013 08:53
Abcam: Canaccord Genuity moves target price from 344p to 358p, but still recommends selling. Antofagasta: Jefferies cuts target price from 1350p to 1100p, while keeping a hold recommendation. ASOS: Cantor Fitzgerald raises target price from 2500p to 2900p reiterating a hold recommendation. Panmure
Read moreLondon close: Cypriot vote on deposit tax sinks stocks late on
19th Mar 2013 17:06
After a brief spell in positive territory at lunchtime, UK stocks sunk back into the red by the close of trade on Tuesday as leaders in Cyprus gathered to vote on the deposit tax, a controversial measure deemed necessary to save the country from default. Traders were also nervous ahead of tomorrow'
Read moreFTSE 100 movers: Miners continue to decline on Eurozone fears
19th Mar 2013 14:50
Mining stocks were dominating the fallers list today as risk appetite waned, with Evraz leading the way and Rio Tinto and BHP Billiton both hit by a downgrade by Goldman Sachs. Precious metals group Fresnillo dropped after Deutsche Bank cut its rating from 'hold' to 'sell', saying that the current
Read moreLondon midday: Miners fall as fears over Cyprus dent markets
19th Mar 2013 11:31
Heavy falls in the mining sector ensured that the resource-heavy FTSE 100 index was trading firmly in the red on Tuesday morning with sentiment still fragile in the aftermath of the bailout deal for Cyprus and the controversial idea to tax customer accounts. Market Analyst Craig Erlam from Alpari s
Read moreRio Tinto expects downward pressure on iron ore prices
19th Mar 2013 08:50
Rio Tinto's shares plunged Tuesday after an executive of the mining giant forecast a downward pressure on iron ore prices in the second half of 2013. Greg Lilleyman, president of Rio's Pilbara iron-ore operations, expects new iron ore supplies and slower growth in steel demand to weigh on prices of
Read moreLondon open: Sentiment fragile in aftermath of Cypriot bailout
19th Mar 2013 08:28
Markets across Europe were mixed in early trading on Tuesday as traders continue to digest developments in Cyprus after the controversial proposal to tax depositors prompted fears of a bank run yesterday. Weighing on London's resource-heavy FTSE 100 this morning was Goldman Sachs' move to lower its
Read moreLondon midday: Markets fall ahead of Eurozone meetings, US data
15th Mar 2013 11:47
Meetings in the Eurozone and a relatively quiet day on the corporate earnings calendar meant that the UK stock market was trading firmly in the red on Friday morning as traders booked profits after recent gains. The S&P 500 in New York finished just a couple of point shy of its all-time high on Thu
Read moreMongolia says production at Rio´s Oyu Tolgoi mine to start in June
15th Mar 2013 10:05
Disagreements between Rio Tinto and the Mongolian government over the Oyu Tolgoi copper and gold mine will not halt a planned June start for commercial production, officials have stressed. Rio Tinto and Mongolia have been tussling over the future of the world's largest untapped copper deposit as t
Read moreLondon close: US labour data boosts stocks late on
14th Mar 2013 16:33
Global stock markets registered decent gains on Thursday as US labour-market figures continued to beat forecasts, pushing the S&P 500 in New York close to an all-time high. The S&P 500 was trading around 1,560 by the close of trade in London (12:30 in New York), just a few points from the record-hi
Read moreFTSE 100 movers: Aggreko tops risers
14th Mar 2013 15:34
Temporary power and temperature control firm Aggreko was the best performer of the day after winning contracts to supply122 MW of gas-fuelled power to utilities in Mozambique and Namibia from its facility at Ressano Garcia in Mozambique, the largest cross-border interim power plant in the world. Jef
Read moreSector movers: Miners fall on Chinese inflation worries
14th Mar 2013 14:48
The mining sector in London was lower across the board on Thursday, weighed down by concerns over inflation in China after the country's central bank hinted that it was willing to tighten monetary policy in an effort to contain prices. People's Bank of China Governor Zhou Xiaochuan said yesterday a
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