FTSE falls on uncertainty over US election and fall in price of copper November 5, 2012 BRITISH blue-chip firms fell yesterday as investors eased back on risky plays ahead of US elections, with miners among the top fallers as they continued to suffer from the low price of copper. At the close, the FTSE 100 was down 29.490 points, or 0.5 per cent, at 5,839.06, in thin trading volumes of 70 [...]
Regulator set to tackle London listing loophole October 2, 2012 TOUGH new corporate governance rules are in the pipeline to stop dodgy firms taking advantage of a loophole that allows them to list in London through a reverse takeover, without going through rigorous checks first. But although investors welcomed those proposals, they rejected Financial Services Authority plans to reduce the minimum free-float requirement, arguing it [...]
BEST of the BROKERS August 16, 2012 INTERSERVE N+1 Brewin has upgraded its price target on the support services firm from 347p to 400p and moved its rating from “add” to “buy” after interim results, saying it continues to deliver to plan. ROTORK Panmure Gordon has cut the valve manufacturer from “buy” to “hold” and raises the target price from 2,150p to [...]
ENRC rocked as commodity prices tumble August 15, 2012 KAZAKH mining group ENRC yesterday blamed falling commodity prices and a “challenging economic environment” for declining revenues over the first half of the year. The FTSE 100-listed miner reported lower underlying earnings of $1.14bn, down 41 per cent over the first half of the year. Earnings per share also fell 60 per cent to $0.36. [...]
Analyst Views | What are your thoughts about enrc’s quarterly results? August 15, 2012 CAILEY BARKER NUMIS SECURITIES Neutral overall. It sustained good demand for key products and cost control is helping keep costs below expectations, despite the sharp rises. Overall, it was an in-line statement with caution to the outlook. ASH LAZENBY LIBERUM CAPITAL The balance sheet looks more constrained than we anticipated. Cost pressures experienced are ‘slightly [...]
FTSE 100 slips lower as investors wait for fresh stimulus from central banks August 15, 2012 TOP shares fell yesterday in sluggish volumes as weakness in index heavyweights such as miners, tobaccos and Vodafone outstripped gains in financials. London’s benchmark FTSE 100 index closed down 31.74 points or 0.5 per cent at 5,833.04, erasing the previous session’s gains and fluctuating in a tight range between 5,800 and 5,900 in volumes just [...]
LONDON REPORT August 12, 2012 STANDARD Life is set to end the life insurance reporting season tomorrow, following a solid first quarter where assets under administration rose more than expected. The Edinburgh group is hoping for a boost soon from auto-enrolment, where employees will be automatically enrolled into their existing employers’ pension scheme or a new personal account. It is [...]
FTSE shrugs off Standard Chartered slump to reach a four-month high August 7, 2012 BRITAIN’S FTSE 100 climbed to its highest close in four months yesterday, with heavyweight miners and energy stocks rallying on expectations of global economic stimulus and outweighing a steep sell off in Standard Chartered. The bank’s shares plunged 16.4 per cent in their biggest one-day sell off in four years after New York’s top bank [...]
Ferroalloy production dips at miner ENRC but copper booms August 1, 2012 KAZAKH mining group ENRC reported a drop in second-quarter output from its key ferroalloys and iron ore divisions yesterday, hit by repair work, but saw increased production from its growing copper arm. The London-listed miner’s headline 0.9 per cent dip in ferroalloys over the three months was largely due to a three per cent drop [...]
LONDON WEEK AHEAD July 29, 2012 RESULTS season continues with a slew of banks, energy and leisure firms due to update this week, while the Bank of England’s monthly decision on interest rates is due on Thursday. Today’s biggest news comes in the form of interims from under-fire banking giant HSBC and household goods behemoth Reckitt Benckiser. The Bank is set [...]