Sector movers: Miners drop, but Polymetal bucks the trend
25th Jan 2013 14:51
Strong gains for FTSE 100 gold producer Polymetal weren't enough to lift the mining sectors into positive territory on Friday afternoon, as the majority of resource stocks bore the brunt of a fall in risk appetite. Most mining heavyweights in London were providing a drag, with EVRAZ, Kazakhmys, ENR
Read moreLondon midday: Markets flat despite disappointing GDP figures
25th Jan 2013 11:42
The FTSE 100 was broadly unchanged by Friday lunchtime, shrugging off a disappointing reading of UK gross domestic product (GDP) growth, as the index was able to hold on to four-and-a-half-year highs. London's benchmark index surged by over one per cent on Thursday following some better-than-expect
Read moreLondon open: Stocks flat ahead of UK GDP data
25th Jan 2013 08:39
The FTSE 100 opened broadly flat on Friday morning as traders became nervous ahead of a fourth-quarter reading of UK gross domestic product (GDP) growth in the UK. "European markets opened cautiously today as a lack of corporate data due today provided bulls with an excuse to take profits amidst so
Read moreFTSE 100 movers: CRH rises as S&P 500 hits record levels
24th Jan 2013 15:23
CRH was a strong riser following a strong start on Wall Street for the Dow and S&P 500, with the latter up at the 1,500 mark for the first time since 2007, following the better-than-expected jobless claims data. Utilities stocks were also providing a lift today after a series of broker upgrades. H
Read moreLondon midday: Markets boosted by economic data from Europe and China
24th Jan 2013 11:20
London's benchmark index was registering decent gains by Thursday lunchtime as earlier concerns about disappointing earnings from Apple were outweighed by better-than-expected economy data from Europe and China. Investors began today's session in a cautious fashion with the FTSE 100 struggling to
Read moreRio Tinto studying options in Mozambique following 3.0bn-dollar write-down
22nd Jan 2013 14:22
Rio Tinto is said to be looking at options for its Mozambique business after it was forced to write down the value of the unit by a whopping three billion dollars. The Financial Times reported on Tuesday, citing people close to the matter, that Rio is "evaluating options" which could include partne
Read moreSunday newspaper round-up: RBS, HMV, Japan
20th Jan 2013 16:31
Top managers at the RBS investment bank, including its Chief Executive, John Hourican, who it has since emerged was planning to leave after reshaping the business - may quit to take responsibility for the disregard shown for the market even though they are not personally culpable. While the evidence
Read moreFTSE 100 movers: EVRAZ makes strong gains
18th Jan 2013 15:52
EVRAZ was making gains even though it said that steel production fell six per cent from the third quarter to the fourth, as a result of scheduled maintenance at its ZSMK steel mill in the Siberia region. The stock was being given a lift this morning by comments from Credit Suisse about the steel s
Read moreBroker tips: Rio Tinto, Meggitt, Ophir Energy
18th Jan 2013 14:11
Credit Suisse has reiterated its 'outperform' rating and 4,000p target price for mining giant Rio Tinto, following yesterday's announcement of a CEO change and non-cash impairment charge 14bn dollars. "After the market digests this news we think the focus should remain on iron ore prices, project d
Read moreLondon midday: Mining companies lead the way following strong Chinese growth data
18th Jan 2013 11:43
- Chinese GDP growth accelerates in Q4 - UK retail sales miss forecasts - EVRAZ, Carnival and Meggitt on the rise UK stocks had extended gains by Friday lunchtime, with better-than-expected Chinese growth figures offsetting some weak domestic retail sales. China's economic growth seems to have acc
Read moreBroker snap: Credit Suisse still upbeat about Rio Tinto after CEO exit, impairments
18th Jan 2013 09:28
Credit Suisse has reiterated its 'outperform' rating and 4,000p target price for mining giant Rio Tinto, saying that the business is being handed over to a 'steady set of hands'. Rio Tinto announced on Thursday that it expects to recognise a non-cash impairment charge of $14bn (post-tax) in its 201
Read moreLondon open: Stocks gain as Chinese growth accelerates in Q4
18th Jan 2013 08:19
The FTSE 100 was making small gains in early trading on Friday with mining stocks providing a lift after some better-than-expected growth figures from China. China's economic growth seems to have accelerated for the first time in two years towards the end of 2012 thanks to the stimulus measures imp
Read moreFriday broker round-up UPDATE
18th Jan 2013 07:53
Aberdeen Asset Management: UBS ups target price from 370p to 440p maintaining a buy rating. JP Morgan shifts target price from 479p to 498p and keeps an overweight rating. Numis raises target price from 400p to 430p, while its add rating remains unchanged. Afren: Nomura cuts target price from 185p
Read moreLondon close: Stocks boosted by upbeat US data
17th Jan 2013 17:04
Following a subdued morning session, stocks across Europe raced into positive territory on Thursday afternoon on the back of some decent economic data Stateside. Better-than-expected US housing starts and jobless claims figures lifted the mood this afternoon, prompting a strong start on Wall Street
Read moreSector movers: Rio weighs on mining sector after CEO exit and charges
17th Jan 2013 15:44
Mining stocks were stuck in the red again on Thursday as a surprise departure by Rio Tinto's Chief Executive weighed on the shares and broker downgrades pushed other resources lower. "Miners had risen 20% between the middle of November and the beginning of January but have shed 6% as the initial eu
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