Showing posts with label miners. Show all posts
Showing posts with label miners. Show all posts

Thursday, 29 March 2012

Miners push FTSE 100 through 6 000

From minors, a large part of the market activity was conducted by a raft of updates to trading, bargain-hunting following recent falls, and rumours of an imminent resolution of disorders of the debt of the Greece. The FTSE 100 climbed 76.2 points to 6,018.89, while the FTSE 250 jumped 159.06 to 12,055.15 points.

There were only four large-cap laggards, with the suffering Group BG of the sharpest fall, sliding 23 p to £ 14.12½ such as oil and gas producer said a weak production growth prospects.

With the market on the best form, thoughts of traders have been in climates sunny with gains travel agencies. tui travelrose 4.4 248 percent, as the owner of first choice, said that the demand for holidays in places like the Spain, the Greece and the Turkey had offset the impact of the political upheavals in Egypt and Tunisia.

But it is another story for Thomas Cook, which was still under a cloud revealed Monday that the impact of unrest in the Middle East and North Africa would be worse than expected. In this spirit, Citigroup analysts cut their rating on the tour operator mid-cap to "hold" from "buy."

After increasing their rating in April, Citi has recognized that following Monday leads their "optimism has been moved" and they continued to be bearish on the medium term for the tour of exploitation sector prospects.

"Sense seems depressed and, while it is possible an improvement in the short term in the trade and the price of the shares, it is difficult to see a fundamental re-rating of these actions, said the broker." Thomas Cook slipped 3.7-162 p.

Intercontinental Hotels selected up to 49 percent to £ 12.98 because it reported strong growth in the country and raised the possibility of better bookings and higher rates of room for the rest of the year.

Return to the highest level, Imperial tobacco was in demand, up to 67% to £ 22.24, after the investors cigarette maker surprised with a 500 m £ share buyback and higher dividends.

The count, too, was Schroders, which took a Basinger week last on its results of the first quarter in which he unveiled an unexpected loss on investments. But analysts at Numis count that the reaction has been exaggerated and increased their rating on the "buy" investment manager "add". Schroders advanced £ 14.19 64 p.

Not far behind was wise, who took a turn in the spotlight of the takeover. His peers of bundled software, Misys, had checked until Monday in its attractions of takeover talk. Tuesday, she put on a another 4.7 to 348.2 p while Sage reached 10.2 296 p as whispers of the towers that could be awaiting a suitor American or European in the wings, with a price of 450 p on the lips of the gossip of the town.

Among the companies of support services, business security G4S gained 5.2 percent 278.8 as he posted an increase in revenues in the first quarter. During this time, living on 5½ to 741 p as the Group of outsourcing, which - among other things - the licensing of TV for the BBC and provides criminal record Office, at home said it should perform well in the second half of the yearsuch as the contracts materialise.

Last week, the subcontractors had slipped in the speculation that the Government could evolve back plans to use the private sector to deliver public services.

But said capita possibilities in the central Government were emerging that it seeks to provide the public service reform.

Among the second liners, there are also a raft of updates for resellers ploughing through trading. Morgan crucible won 15 p 329.1 after the manufacturer of industrial materials said he saw a strong recovery throughout all of the countries it covers.

Chip manufacturer CSR advanced 23.4 p 391.4 that he has highlighted an increased in the smartphone market presence. After its potential partner of fusion, Zoran, Monday reported to the sales slowdown, CSR has reiterated it was "assess the implications".

Furthermore, N brown reached 12.3 298 p as home shopping business of clothing if it were the trial three shops this year for its mark "simply being" said.

Gaining ground, was also the Premier Foods. Citigroup has increased its rating to "buy" from "hold", saying the manufacturer of Mr. Kipling cake, which has sold off the coast of two of its companies to reduce its debt pile, had "extremely better prospects." That helped advance actions 2.08 p 34.83. But at the other end of the spectrum, the pace is 59.9 — 39. 2pc - 93 p after the author of set - top boxes has issued a profit warning.

Lower market, xcite Energy fell 79-237½p. Despite oil Explorer confirming that its North Sea oil field had commercial value, analysts were disappointed by the low oil provided estimates.


View the original article here

Thursday, 18 November 2010

Wolseley climbs on Credit Suisse note but miners drag down FTSE 100

"We believe the US non-residential market will trough in 2011 and start to deliver positive growth from the second half."

Wolseley, the plumbing supplies group, ended up 19p at £16.01.

National Grid took the top spot after adding 12½ to 553½p as the City warmly welcomed the appointment of Andrew Bonfield, Cadbury's numbers man, as its new finance director.

Mr Bonfield, who replaces Steve Lucas who is retiring at the end of the year, is said to have a played a key role in forcing Kraft to increase its takeover offer for the Crunchie and Wispa maker.

Analysts at RBS said Mr Bonfield has both US experience from his time as chief financial officer at pharmaceutical group Bristol-Myer Squib and energy nouse from his days as finance director of BG Group.

National Grid was also boosted by news that Ofgem, the energy regulator, reckons £32bn needs to be spent on the UK's energy infrastructure over the next 10 years.

A new finance director also helped boost Yell, up 1 to 15.5p. The struggling FTSE 250 directories group's shares put on more than 10pc at one point following the appointment of Tony Bates, a former Colt Telecom executive, to the finance role.

BT took second spot in the bluechip index, up 3 to 145.8p, as traders absorbed positive news flow from last week.

Standard Chartered put on a late surge adding 3 to 145.8p after it announced plans to aggressively expand its small and medium-sized business operations.

The Asian-focused bank plans to hire 1,200 people to help small business over the next three years. "Almost everything we are trying to do, we want to double" said Standard Chartered's head of global consumer banking Steve Bertamini.

African Barrick Gold benefited from the continued belief that gold prices will continue their upward trajectory as calls grow for a fresh round of quantitative easing. The gold miner ended the day up 5½ to 605p after JP Morgan raised its target price to 900p from 755p.

However, the rest of the miners languished at the foot of the table and helped drag the FTSE 100 index down 36.93 points to 5555.97. Kazakhmys dropped 38p to £14.23 and Xstrata fell 32½p to £12.09. Xstrata was also hit by speculation that Singapore's Sin-Tang Developments maybe planning a bid to rival Xstrata's $416m offer for Australia's Sphere Minerals.

Inmarsat end the day down 13½ at 655p after its largest shareholder Harbinger Capital Partners confirmed that it is considering a possible stake sale.

The Daily Telegraph reported on Saturday that the US hedge fund manager was considering disposing of some of its 28.1pc stake in the telecoms group.

After the market closed Harbinger announced that it would sell 13pc of its stake. Credit Suisse and UBS have been appointed to run the sale.

The 60m share sale will weigh heavily on the shares because many believed that Philip Falcone, who manages the hedge fund, had been plotting a takeover.

Mr Falcone said: "Inmarsat has been a terrific investment for Harbinger and its investors. Although we have determined that we are not going to make an offer for all of the company, I remain a strong believer in Inmarsat's future and am extremely happy to maintain a core position in the company's stock and our partnership with Inmarsat through LightSquared."

In addition, LightSquared, a US broadband and satellite network provider, said it would accelerate the implementation of its spectrum co-operation plan with Inmarsat.

BP dropped 10.4 to 430.1p after the oil major announced it is to borrow €2bn (£1.7bn) to help it prop up a $20bn fund to compensate the victims of its Gulf of Mexico oil spill disaster.

Premier Foods led the FTSE 250, which lost 28.66 points to 10,563.8, after the Hartley's jam to Branston pickle food conglomerate confirmed that it is has received approaches for its Quorn meat-substitute business.

A sale of the division, which makes sausages out of fungi, could net Premier £250m, which would help reduce its £1.4bn debt mountain.

Rumoured bidders include Nestle, Unilever, Danone, Campbell's and host of private equity firms.

Martin Deboo, analyst at Investec Securities, said: "This is probably the one business within Premier that will attract the likes of Unilever and Nestle and their attendant deep pockets and ability to transact quickly."

The shares end the day up 1.7 at 17.9p.

Wellstream Holdings, increased for a third day, climbing 15.5 to 789p after General Electric was named as the group that made an £800m bid for the Brazilian-focused oilfield services group.

The US conglomerate made the approach last month through VetcoGray, an Aberdeen-based oil services subsidiary.

Rentokil Intitial slipped 0.2p to 101.3p despite renewed rumours that a European company is planning a takeover of the pest control and parcel delivery group.

Among the minnows engineering group MS International put on 9.7 to 134.7p after it won a $28.6m contract to supply the US Navy with 30mm naval gun weapons system.

Encore Oil was boosted 7½ to 135p after it discovered a substantial column oil at the Cladhan field in the North Sea. Alan Booth, chief executive, said: "It is still too early to put a precise figure on how large the discovery might be, but we are now very confident that we have a potentially significant commercial accumulation."


View the original article here

Thursday, 28 October 2010

Wolseley climbs on Credit Suisse note but miners drag down FTSE 100

"We believe the US non-residential market will trough in 2011 and start to deliver positive growth from the second half."

Wolseley, the plumbing supplies group, ended up 19p at £16.01.

National Grid took the top spot after adding 12½ to 553½p as the City warmly welcomed the appointment of Andrew Bonfield, Cadbury's numbers man, as its new finance director.

Mr Bonfield, who replaces Steve Lucas who is retiring at the end of the year, is said to have a played a key role in forcing Kraft to increase its takeover offer for the Crunchie and Wispa maker.

Analysts at RBS said Mr Bonfield has both US experience from his time as chief financial officer at pharmaceutical group Bristol-Myer Squib and energy nouse from his days as finance director of BG Group.

National Grid was also boosted by news that Ofgem, the energy regulator, reckons £32bn needs to be spent on the UK's energy infrastructure over the next 10 years.

A new finance director also helped boost Yell, up 1 to 15.5p. The struggling FTSE 250 directories group's shares put on more than 10pc at one point following the appointment of Tony Bates, a former Colt Telecom executive, to the finance role.

BT took second spot in the bluechip index, up 3 to 145.8p, as traders absorbed positive news flow from last week.

Standard Chartered put on a late surge adding 3 to 145.8p after it announced plans to aggressively expand its small and medium-sized business operations.

The Asian-focused bank plans to hire 1,200 people to help small business over the next three years. "Almost everything we are trying to do, we want to double" said Standard Chartered's head of global consumer banking Steve Bertamini.

African Barrick Gold benefited from the continued belief that gold prices will continue their upward trajectory as calls grow for a fresh round of quantitative easing. The gold miner ended the day up 5½ to 605p after JP Morgan raised its target price to 900p from 755p.

However, the rest of the miners languished at the foot of the table and helped drag the FTSE 100 index down 36.93 points to 5555.97. Kazakhmys dropped 38p to £14.23 and Xstrata fell 32½p to £12.09. Xstrata was also hit by speculation that Singapore's Sin-Tang Developments maybe planning a bid to rival Xstrata's $416m offer for Australia's Sphere Minerals.

Inmarsat end the day down 13½ at 655p after its largest shareholder Harbinger Capital Partners confirmed that it is considering a possible stake sale.

The Daily Telegraph reported on Saturday that the US hedge fund manager was considering disposing of some of its 28.1pc stake in the telecoms group.

After the market closed Harbinger announced that it would sell 13pc of its stake. Credit Suisse and UBS have been appointed to run the sale.

The 60m share sale will weigh heavily on the shares because many believed that Philip Falcone, who manages the hedge fund, had been plotting a takeover.

Mr Falcone said: "Inmarsat has been a terrific investment for Harbinger and its investors. Although we have determined that we are not going to make an offer for all of the company, I remain a strong believer in Inmarsat's future and am extremely happy to maintain a core position in the company's stock and our partnership with Inmarsat through LightSquared."

In addition, LightSquared, a US broadband and satellite network provider, said it would accelerate the implementation of its spectrum co-operation plan with Inmarsat.

BP dropped 10.4 to 430.1p after the oil major announced it is to borrow €2bn (£1.7bn) to help it prop up a $20bn fund to compensate the victims of its Gulf of Mexico oil spill disaster.

Premier Foods led the FTSE 250, which lost 28.66 points to 10,563.8, after the Hartley's jam to Branston pickle food conglomerate confirmed that it is has received approaches for its Quorn meat-substitute business.

A sale of the division, which makes sausages out of fungi, could net Premier £250m, which would help reduce its £1.4bn debt mountain.

Rumoured bidders include Nestle, Unilever, Danone, Campbell's and host of private equity firms.

Martin Deboo, analyst at Investec Securities, said: "This is probably the one business within Premier that will attract the likes of Unilever and Nestle and their attendant deep pockets and ability to transact quickly."

The shares end the day up 1.7 at 17.9p.

Wellstream Holdings, increased for a third day, climbing 15.5 to 789p after General Electric was named as the group that made an £800m bid for the Brazilian-focused oilfield services group.

The US conglomerate made the approach last month through VetcoGray, an Aberdeen-based oil services subsidiary.

Rentokil Intitial slipped 0.2p to 101.3p despite renewed rumours that a European company is planning a takeover of the pest control and parcel delivery group.

Among the minnows engineering group MS International put on 9.7 to 134.7p after it won a $28.6m contract to supply the US Navy with 30mm naval gun weapons system.

Encore Oil was boosted 7½ to 135p after it discovered a substantial column oil at the Cladhan field in the North Sea. Alan Booth, chief executive, said: "It is still too early to put a precise figure on how large the discovery might be, but we are now very confident that we have a potentially significant commercial accumulation."


View the original article here