Broker 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
Read moreLondon 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
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