Fuel supply resumes for Centamin, but mining still suspended
14th Dec 2012 07:40
Centamin has reassured investors that fuel supply to its Sukari mine in Egypt has resumed, after the Egyptian General Petroleum Corporation (EGPC) went back on its decision to hit the gold miner with a retrospective payment claim. Centamin's shares lost nearly 50% of their value on Thursday after s
Read moreFriday tips round-up: John Wood Group, RWS, Centamin
14th Dec 2012 07:23
Analysts were being steered towards a more cautious outlook for 2013 from John Wood Group, the energy services company, on Thursday, even if the latest trading statement is upbeat enough. The company has performed extraordinarily well during the global downturn. The engineering side has seen earning
Read moreLondon close: 'Fiscal cliff' concerns keep markets under pressure
13th Dec 2012 16:45
- Boehner says White House not serious about 'cliff' - Stocks shrug off Fed stimulus - Centamin plummets after mine suspension Stocks markets across Europe took a breather on Thursday, following a strong performance over the last month, as investors digested stimulus plans by the Federal Reserve an
Read moreFTSE 250 movers: Centamin plunges on mine suspension
13th Dec 2012 16:13
Egypt-focused gold mining company Centamin saw shares tumble early on after saying that it has suspended operations at its Sukari mine due to issues with fuel suppliers and delays with gold exports. Canaccord Genuity downgraded the stock to 'hold' this morning and slashed its target price from 110p
Read moreBroker tips: BG Group, Centamin, HMV
13th Dec 2012 12:27
Nomura has reiterated its 'buy' rating and 1,600p target price for natural gas giant BG Group, following the appointment of a new Chief Executive Officer (CEO) in Chris Finlayson. "The timing of the announcement of a new CEO is in line with guidance from BG's Chairman earlier in the year. It remove
Read moreLondon midday: Markets cautious as Fed move already priced in
13th Dec 2012 11:27
- Fed unveils new stimulus measures - Eurogroup approves Greek aid - Centamin plummets after suspending Sukari Indices across Europe pulled back on Thursday morning as they digested last night's stimulus plan from the Federal Reserve, with analysts saying that the move was already priced into marke
Read moreBroker snap: Centamin's upside clouded by ongoing negative news, says Investec
13th Dec 2012 09:53
Investec has reiterated its 'hold' recommendation for Egypt-focused gold miner Centamin, saying that the ongoing bad news surrounding the company offsets the stock's upside potential. The company's shares plummeted on Thursday morning after it said that it has received an "illegal" $65m retrospecti
Read moreLondon open: Stocks fall as focus turns back to 'fiscal cliff'
13th Dec 2012 08:31
Stock markets in the UK opened broadly flat on Thursday morning in spite of the Federal Reserve's stimulus announcement last night, as the focus turns back to the impending 'fiscal cliff'. While mining stocks more or less gained early on, FTSE 250 gold miner Centamin grabbed the headlines plunging
Read moreLondon pre-open: Slight drop expected on FTSE
13th Dec 2012 07:31
City sources predict the FTSE 100 will open down seven points from yesterday's close of 5,946, after Federal Reserve Chairman Ben Bernanke warned about the seriousness of the impending 'fiscal cliff'. The Fed announced that it would reinstate a policy of 'quantitative easing' "initially at a pace
Read moreGold miner Centamin suspends operations over lack of diesel -UPDATE
13th Dec 2012 07:05
FTSE 250-listed Egypt-focused gold mining company Centamin has suspended operations at its Sukari gold mine because diesel has stopped being supplied. In an official statement made by the company to the London Stock Exchange, Centamin stated that it had received a "retrospective claim" for LE403m (
Read moreCentamin biggest winner in FTSE 350
10th Dec 2012 17:26
Egypt-focused gold mining company Centamin was the FTSE 350's biggest winner at the close of trading on Monday having risen by 9.9 per cent to 54.90p per share. The sudden rise in the share price may be partially related to political events that unfolded over the weekend and early hours of this mor
Read moreLondon close: Markets unfazed by Osborne's budget
5th Dec 2012 17:10
- Miners gain on Chinese optimism - OBR cuts GDP forecasts - US ISM data lifts markets in afternoon trade The Footsie finished the day with decent gains on Wednesday as investors mostly shrugged off Chancellor George Osborne's budget statement, with the upbeat mood helped by economic data from the
Read moreFTSE 250 movers: Home Retail rises on upgrade
5th Dec 2012 15:34
Shares in Argos and Homebase owner Home Retail raced ahead today after Bank of America Merill Lynch upgraded the stock from 'neutral' to 'buy' and hiked its price target from 110p to 130p. The broker said: "We see Argos as a beneficiary of recent capacity withdrawal in the electricals area and als
Read moreLondon close: Stocks pare gains after US ISM data
3rd Dec 2012 16:52
- US manufacturing sector in contraction - Chinese and India data lifts markets early on - Banking fall after BoE FLS details The FTSE 100 index was set to finish Monday's session with decent gains until a worse-than-expected reading of US manufacturing caused markets across Europe to trim gains by
Read moreFTSE 250 movers: C&W Comms jumps after disposal
3rd Dec 2012 15:41
Cable & Wireless Communications surged on Monday after agreeing to sell the majority of its businesses in its Monaco & Islands division as it attempts to scale back its geographic footprint and pay down debt. CWC is selling the assets to Bahraini telecoms firm Batelco Group for an enterprise value
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