Broker 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
Read moreBroker 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
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