London midday: Markets shrug off strong showing by retailers
17th Jan 2013 11:45
In spite of a strong performance by retail stocks, the Footsie was trading flat by Thursday lunchtime with weakness in the mining sector limiting any upside for stock markets in London. Associated British Foods and Home Retail were standout performers in the UK, while retail peers Carrefour and Del
Read moreLondon open: Markets flat ahead of Spanish bond auctions
17th Jan 2013 08:27
London's benchmark index opened tentatively on Thursday morning ahead of another big day for corporate earnings in the US. It looks to be a quiet morning for Europe with little data due out, so the focus is likely to be on debt auctions in Spain, as the Treasury attempts to sell 2015, 2018 and 2041
Read moreThursday broker round-up UPDATE
17th Jan 2013 07:19
African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an
Read moreRio Tinto CEO steps down after announcing multi-billion dollar impairment
17th Jan 2013 07:19
Tom Albanese has stepped down as Chief Executive Officer of Rio Tinto and has been succeeded by Sam Walsh following an announcement by the company that it expects to recognise a non-cash impairment charge of approximately 14bn dollars (8.642bn pounds) in its 2012 full year results. The impairments
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreLondon close: Markets cautious as US debt fears resurface
15th Jan 2013 16:54
- Anglo sinks into the red by the close - Burberry jumps after Q3 update - Debt ceiling concerns resurface, Obama takes hard-line approach The FTSE 100 finished with only slight gains on Tuesday afternoon as markets continued to be range-bound with concerns over the US debt ceiling weighing on the
Read moreLondon midday: Burberry, platinum stocks provide a lift
15th Jan 2013 11:26
- Burberry impresses with Q3; ARM hit with downgrades - Platinum stocks, prices rise after Amplats shake-up - US debt ceiling concerns return Strong gains for Burberry and platinum stocks helped the FTSE 100 push into positive territory by the midday mark, although gains were limited by resurfacing
Read moreLondon open: Stocks flat as US debt ceiling fears resurface
15th Jan 2013 08:28
Concerns about the US debt ceiling and the German economy were weighing on market sentiment on Tuesday morning, with the FTSE 100 trading broadly flat in the opening hour. President Barack Obama said last night that he would not negotiate with Republicans over raising the debt ceiling, declining to
Read moreRio Tinto beats iron ore production targets in 2012
15th Jan 2013 07:39
Diversified mining giant Rio Tinto managed to surpass its own iron ore production targets in 2012, while its other commodity classes also delivered large increases year-on-year. Iron ore output hit a record 253m tonnes last year, up from 199m tonnes in 2011, and ahead of the 250m-tonne guidance giv
Read moreLondon close: Markets end the week with slight gains
11th Jan 2013 17:04
- Japan launches new stimulus package - Chinese inflation rises in December - Tullow misses production forecasts in 2012 UK stocks finished with slight gains on Friday on the back of plans for economic stimulus in Japan, as markets were able to shrug off some weakness in the mining sector. The F
Read moreSector movers: Miners fall after Chinese inflation data
11th Jan 2013 15:41
Inflation data in China was providing a drag on the mining sector in London as higher-than-expected price rises in December sparked speculation about tighter monetary policy. Chinese consumer price inflation rose to 2.5% in December, from 2.0% the month before, as cold weather resulted in an increa
Read moreFTSE 100 movers: IAG performs strongly after upgrade
11th Jan 2013 14:31
British Airways and Iberia owner IAG was in demand throughout the day after UBS upgraded the stock from 'neutral' to 'buy', following its underperformance against other European airline shares under the broker's coverage. "We think that IAG could be the laggard most likely to outperform in 2013 sh
Read moreBroker snap: Hold fire on miners, RBC tells clients
11th Jan 2013 12:57
"Despite a strong start to the year, we would wait for lower entry levels to continue to build Mining positions," analysts at RBC were telling clients on Friday morning. A moderately improving economic outlook is estimated for 2013, but China industrial production leverage is not what it used to b
Read moreLondon midday: Stocks rise as Japan attempts to boost growth
11th Jan 2013 11:31
- Japan launches new stimulus package - Chinese inflation rises in December - UK production misses the mark in November Markets were making small gains on Friday morning as hopes for the Japanese economy offset concerns about price rises in China and a downbeat reading of UK production. News from
Read moreEuropean broker round-up
11th Jan 2013 07:50
Alstom: Citi upgrades to BUY from neutral and raises its price target to €38 from €30. ArcelorMittal: AlphaValue reiterates UNDERWEIGHT rating. BHP Billiton: Macquarie downgrades to NEUTRAL from overweight. Casino Guichard: Oddo downgrades to NEUTRAL from buy and lowers price target to €77 from €
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