Friday broker round-up UPDATE
30th Nov 2012 07:24
Aggreko: Berenberg initiates with a target price of 2010p and a hold recommendation. APR Energy: Berenberg starts with a target price of 610p and a sell recommendation. Babcock International Group: Berenberg initiates with a target price of 1180p and a buy recommendation. Barclays: UBS raises tar
Read moreLondon close: Miners surge on US hopes
29th Nov 2012 16:39
- US GDP and housing data boosts stocks - 'Fiscal cliff' concerns ease after politicians' comments - Mining stocks rise on demand hopes Hopes about the US economy were driving gains on Thursday as investors reacted positively to comments from politicians about the 'fiscal cliff' and decent economic
Read moreFTSE 100 movers: Miners lead the way
29th Nov 2012 15:39
Rio Tinto was among the best performers on Thursday after Chief Executive Tom Albanese boasted at an investors seminar that the company was 'very well positioned despite the challenging global environment'. The company said it is targeting five billion dollars of cost savings by the end of 2014 as
Read moreRio Tinto announces billions in cuts
29th Nov 2012 13:45
Mining giant Rio Tinto said it was targeting five billion dollars of cost savings by the end of 2014 as it voiced 'major uncertainties' about the future growth of the US and Europe. The company said planned spending on exploration and evaluation projects would be reduced by $1bn over the remainder
Read moreLondon midday: Stocks rise after 'optimistic' comments on 'fiscal cliff'
29th Nov 2012 11:41
Hopes that the US can avert the impending 'fiscal cliff' were helping markets register decent gains on Thursday morning, following comments from policy-makers Stateside yesterday. US Republican Speaker of the House John Boehner said that he was "optimistic that we can continue to work together to a
Read moreLondon open: Stocks gain on US budget hopes
29th Nov 2012 08:22
UK equities opened strongly on Thursday morning with mining stocks leading the risers on the back of optimism that US policy-makers will eventually agree on a deal to avert the 'fiscal cliff'. "European equities are trading higher this morning managing to extend yesterday's afternoon late turnaroun
Read moreBroker snap: Credit Suisse singles out Rio as preferred large cap
28th Nov 2012 13:26
In a report on the mining sector, Credit Suisse has singled out Rio Tinto for its growth potential, keeping its 'outperform' rating for the stock with a price target of 3,500p. Analysts at the Swiss broker labelled Rio Tinto as the preferred large cap company for the first half of 2013, pointing to
Read moreLondon open: Footsie unchanged as another quiet day expected
23rd Nov 2012 08:24
UK stocks was broadly unchanged on Friday morning in anticipation of another quiet day on markets with Wall Street only open for half a session following Thanksgiving yesterday. "European headline shares opened tentatively today as investors remained apprehensive towards risk-on assets in the face
Read moreFTSE 100 movers: Johnson Matthey dives as divi disappoints
21st Nov 2012 15:15
Shares in platinum refiner Johnson Matthey tumbled after it reported a six per cent drop in profits in the first half, while warning that it doesn't expect things to pick up in the latter part of the fiscal year and announcing a lower-than-expected dividend increase. Chief Executive Neil Carson sa
Read moreLondon open: Mining stocks gain after Obama re-election
7th Nov 2012 08:27
- Miners track metals higher as Obama re-elected - Randgold bucks trends after Q3 results - Pearson makes gains on FT sale rumours Mining stocks on Wednesday celebrated the news that Barack Obama has been re-elected as President of the United States, with hopes for further stimulus Stateside boosti
Read moreLondon close: Stocks taken down by global uncertainty
5th Nov 2012 16:49
- All eyes turn to the US elections - Greece attempts to agree on austerity - UK and US services PMI disappoint After a sharp fall early on, the FTSE 100 traded broadly sideways for the remainder of Monday's session as investors refrained from building positions ahead of a busy week for the global
Read moreFTSE 100 movers: Miners provide a drag
5th Nov 2012 15:15
Mining stocks were providing a drag as investors digested the economic figures out in China overnight. The HSBC China services PMI fell from a four-month high of 54.3 to 53.5 in October, contrasting with the official services PMI from the National Bureau of Statistics this weekend which rose from 53
Read moreLondon midday: Investors flee from risk ahead of US elections
5th Nov 2012 11:26
- Investors risk averse ahead of elections - UK services PMI disappoints - Greece to vote on austerity Nervousness ahead of the US presidential elections saw stocks head lower on Monday morning, with losses cemented by a worse-than-expected reading of service-sector activity in the UK. In regards
Read moreRio Tinto signs deal for electricity supply to Oyu Tolgoi mine
5th Nov 2012 10:55
Mining titan Rio Tinto has signed a binding agreement with a Chinese power company for the supply of electricity to Oyu Tolgoi, the nearly-completed copper and gold mine in Mongolia. As a result, within the next few weeks Oyu Tolgoi will start a seven-week commissioning of the ore-processing equip
Read moreLondon open: HSBC and miners provide a drag early on
5th Nov 2012 08:39
UK stocks declined sharply on Monday morning on the back of a mixed reaction to economic data from China and caution ahead of the presidential elections in the US and a parliamentary vote in Greece. The HSBC China services sector purchasing managers' index (PMI) fell from a four-month high of 54.3
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