Rio 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
Read moreLondon open: Stocks open lower ahead of inflation report
13th Feb 2013 08:27
UK stocks opened moderately lower ahead of the Bank of England's (BoE's) inflation report due out at 10:30, as well as a number of important economic indicators elsewhere. "European stock markets are largely mixed Wednesday, staying in a tight range as traders tread carefully ahead of the G-20 meet
Read moreLondon close: Subdued finish to a quiet day
11th Feb 2013 16:34
The FTSE 100 was swinging between gains and losses for most of Monday's session with markets across Europe lacking direction on a quiet day. "Global markets are trading lower today which may be related to the significant strength within the markets within 2013," said market analyst Craig Erlam from
Read moreFTSE 100 movers: Miners broadly higher but Randgold takes a hit
11th Feb 2013 15:09
Miners were performing well today, with EVRAZ and ENRC among the highest risers on the blue-chip index. However, Rio Tinto was in the red despite the Australian Competition Tribunal ruling that its Hamersley and Robe rail network should not be opened up to other users. Supermarket giant Tesco wa
Read moreLondon midday: Stocks make gains on light volumes
11th Feb 2013 11:31
On a light day for economic data and trading volumes, the FTSE 100 was registering moderate gains by Monday lunchtime. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed for
Read moreLondon open: Markets lack direction early on
11th Feb 2013 08:37
The FTSE 100 opened flat on Monday morning with volumes thin as Asian markets close for the Lunar New Year holidays. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed. "At
Read moreAustralian tribunal blocks third parties from using Rio Tinto's rail network
11th Feb 2013 07:12
The Australian Competition Tribunal has ruled that FTSE 100 mining company Rio Tinto's Hamersley and Robe rail network should not be opened up to other users. The move, announced on Monday morning, retains Rio Tinto's exclusive and unlimited use of the the railway lines. Paul Shannon, Rio Tinto Ir
Read moreLondon midday: Stocks claw back losses after yesterday's sell-off
8th Feb 2013 11:38
Better-than-expected trade data from China gave stocks a boost on Friday morning, as sentiment picked up from the day before when concerns over Europe sparked a sell-off on equity markets. Both imports and exports in China jumped year-on-year in January, resulting in a higher-than-forecast trade su
Read moreBroker tips: Miners, Weir, Imperial Tobacco
8th Feb 2013 11:09
Ahead of earnings season in the mining sector, Credit Suisse has labelled its top and worst picks among resource stocks. "Our top picks are Rio Tinto and ENRC and from the mid cap group African Minerals and London Mining." While Lonmin is downgraded from 'outperform' to 'neutral', the broker's lea
Read moreBroker snap: Credit Suisse labels Rio Tinto and ENRC as top picks in mining sector
8th Feb 2013 10:49
Ahead of earnings season in the mining sector, Credit Suisse has labelled its top and worst picks among resource stocks. "The upcoming results season will see a changing of the guard across the large caps. Large write-downs, as companies draw a line under past mistakes, are now widely expected by t
Read moreFriday broker round-up UPDATE
8th Feb 2013 07:19
Aggreko: HSBC upgrades to neutral with a target price of 1650p. Anglo American: HSBC ups target price from 1950p to 2240p and upgrades to overweight. Antofagasta: HSBC reduces target price from 1200p to 1160p, while upgrading to neutral. ARM Holdings: Credit Suisse increases target price from 780
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