Wednesday broker round-up - UPDATE
30th Jan 2013 07:03
Alternative Networks: Investec increases target price from 310p to 330p retaining a buy rating. Anglo American: Deutsche Bank takes price target from 2200p to 2260p, while its buy recommendation remains unchanged. Antofagasta: Bank of America reduces target price from 1500p to 1400p and downgrades
Read moreLondon close: Markets at five-year high after US earnings
29th Jan 2013 16:49
After a subdued morning session, the FTSE 100 rallied in afternoon trade to finish at its highest level since early 2008, helped by upbeat earnings from corporate heavyweights in the US. The Dow Jones Industrial Average in New York was also trading at a five-year high today after pharmaceutical gro
Read moreFTSE 100 movers: Anglo American a strong riser
29th Jan 2013 15:37
Diversified mining group Anglo American gained despite saying it will recognise a 4.0bn dollar impairment charge in its 2012 results after completing a detailed cost and schedule review of its Minas-Rio iron ore project in Brazil. The gain appeared to be part of a wider trend, with sector peers Ev
Read moreLondon close: Markets shrug off poor GDP to finish higher
25th Jan 2013 16:25
The FTSE 100 managed to finish the last session of the weak with small gains as traders shrugged off this morning's disappointing UK growth figures. "Weak UK GDP data for Q4 failed to temper enthusiasm for risk as the FTSE pushed on again, though end of week profit-taking has put a cap on gains thi
Read moreFTSE 100 movers: Miners take a hit
25th Jan 2013 15:21
Miners tracked metal prices lower, with ENRC, Randgold, Evraz, Kazakhmys, Rio Tinto and BHP Billiton all making to top 10 biggest fallers. Risk appetite was dampened by the news that the UK economy contracted by 0.3% during the fourth quarter of 2012, worse then the 0.1% GDP decline forecasted. M
Read moreSector 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
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