Friday broker round-up UPDATE
15th Feb 2013 07:58
Aberdeen Asset Management: UBS shifts target price from 440p to 470p and reiterates a buy recommendation. Credit Suisse takes target price from 410p to 470p staying with its outperform rating. Barclays revises target price from 470p to 490p, while its overweight rating remains unchanged. Jefferies m
Read moreLondon close: Stocks slip as growth concerns dampen sentiment
14th Feb 2013 16:30
The FTSE 100 had picked up off its intraday low by the end of the session on Thursday, but a barrage of worse-than-expected economic growth figures from across the globe ensured that markets remained in negative territory. Buying picked up slightly in afternoon trade after initial US jobless claims
Read moreBlackRock World Mining Trust stands by heavy exposure to Rio Tinto
14th Feb 2013 13:35
The BlackRock World Mining Trust has published a portfolio update disclosing heavy exposure to the Anglo Australian mining group Rio Tinto. The Trust, which reported that over the last year the portfolio had registered a small drop in its undiluted net asset value (NAV) of -15.1%, stood by its hold
Read moreRio Tinto boss 'concerned' over Mongolia tensions
14th Feb 2013 13:23
Rio Tinto's new boss on Thursday said he was concerned over the Mongolian government's comments on the agreement that underpins its Oyu Tolgoi copper and gold mine. Sam Walsh, who was appointed Chief Executive last month, voiced his dilemma in relation to tensions between the company and the gove
Read moreLondon midday: Stocks sink as Eurozone contracts further in Q4
14th Feb 2013 12:05
After hitting a fresh five-year high the day before, London's benchmark FTSE 100 index slumped on Thursday morning as traders reacted to weaker-than-expected economic growth figures from Japan and across Europe. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.
Read moreBroker tips: Rio Tinto, G4S, Britvic
14th Feb 2013 10:44
Rio Tinto may have swung to its first-ever annual loss in 2012, but Nomura has kept its 'buy' rating and 3,700p target price for the stock, calling its full-year results 'solid' with adjusted profits coming in ahead of forecasts. The broker labelled Rio as an attractive and relatively low-risk expo
Read moreBroker snap: Rio Tinto remains attractive with low risk, says Nomura
14th Feb 2013 10:42
Rio Tinto may have swung to its first-ever annual loss in 2012, but Nomura has kept its 'buy' rating and 3,700p target price for the stock, calling its full-year results 'solid'. The company reported Thursday a net loss of $2.9bn for 2012, down from a profit of $5.8bn the year before, reflecting wr
Read moreLondon open: Markets flat as stocks digest GDP figures
14th Feb 2013 08:37
Markets opened broadly flat on Thursday morning, pausing after hitting a fresh five-year high the day before, as investors showed caution on a busy day for economic data. Overnight, it was announced that Japanese gross domestic product (GDP) contracted by 0.1% in the fourth quarter, down 0.4% on an
Read moreLondon pre-open: FTSE to edge lower after yesterday's highs
14th Feb 2013 07:36
City sources predict the FTSE 100 will open down four points from yesterday's close of 6,359, after it hit five-year highs on Wednesday - despite a number of stocks providing a drag after going ex-dividend. Further gains may be limited by news that Japan's economy contracted 0.1%, compared to expe
Read moreRio Tinto posts first ever annual loss - UPDATE
14th Feb 2013 07:17
Mining heavyweight Rio Tinto swung into its first ever full-year loss in 2012, dragged down by impairments against its aluminium and Mozambique coal assets. The world's second largest iron ore producer posted a $2.9bn net loss, a 151% drop from the $5.8bn net profits reported the year before. Lo
Read moreRio Tinto appoints new Iron Ore Chief Executive
14th Feb 2013 07:01
Rio Tinto announced on Thursday the appointment of Andrew Harding as Iron Ore Chief Executive. Harding, former Copper Chief Executive, succeeds Sam Walsh who stepped up as Chief Executive of the mining giant last month. He will be based in Perth, Western Australia. Former Copper President of Inter
Read moreLondon close: Footsie hits new five-year high, Sterling slumps
13th Feb 2013 16:36
After a subdued start, London's FTSE 100 index finished with decent gains on Wednesday to set a new five-year high with analysts putting the strong performance down to the weaker pound. Sterling slumped today - down 0.82% against the dollar at 1,5534 - after the Bank of England said that inflation
Read moreThursday preview: Mining giant Rio Tinto unveils annual results
13th Feb 2013 16:09
Mining heavyweight Rio Tinto will on Thursday reveal its first set of full-year earnings since Sam Walsh took the helm as Chief Executive Officer. Analysts at JP Morgan expect the group to report 2012 underlying earnings of $48.9bn along with further details on its recently announced cost cutting t
Read moreFTSE 100 movers: Tullow Oil rises on strong set of results
13th Feb 2013 15:50
Oil and gas group Tullow rose strongly today after posting a four per cent rise in annual pre-tax profits on the back for strong sales and output. Pre-tax profits in 2012 totalled 1.11bn dollars, ahead of analysts' expectations. Irish building materials group CRH was one of the best performers on
Read moreLondon midday: Markets subdued as focus turns to the BoE
13th Feb 2013 11:22
London's FTSE 100 index was still in negative territory by Wednesday lunchtime, albeit well off its intraday low, as all eyes turned to the Bank of England (BoE) and the release of its three-monthly inflation report. While Governor Sir Mervyn King admitted that output has been broadly flat for the
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