Moody's downgrades Egyptian debt
31st Jan 2011 12:37
Ratings agency Moody's has downgraded its rating on Egypt's debt as large-scale demonstrations against the authoritarian rule of president Hosni Mubarak continue. Moody's now has a Ba2 rating on the North African country, from Ba1 previously, and changed its outlook to 'negative' from 'stable'. "T
Read moreFriday tips round-up: AstraZeneca, Mitchells & Butlers, Aquarius Platinum...
28th Jan 2011 06:58
AstraZeneca and the rest of the large pharmas share the same basic problem, that of old drugs coming off patent faster than they can be replaced. The response has generally been to shovel piles of cash towards investors to keep them happy while trying to work out what to do next. AstraZeneca upped
Read moreFTSE 250 movers: Petropavlovsk shines on bullish forecast
27th Jan 2011 14:03
Gold miner Petropavlovsk is putting in a sparkling performance today after the Russia-focused gold miner it forecast production would rise 18% in 2011 even on a very conservative estimate. Its gains are surpassed by two companies that reported yesterday though. Heritage Oil wins back some losses f
Read moreThursday tips round-up: Mouchel, Centamin Egypt, Hambledon...
23rd Dec 2010 06:31
When Mouchel Group on December 6 announced it had received takeover approaches, various names were in the frame, including fellow outsourcers Serco, Mitie and Carillion. No one mentioned Costain. An authoritative note from broker Peel Hunt after the bid approaches were revealed suggests any bidder c
Read moreCentamin looking to double Sukari capacity
21st Dec 2010 15:47
Shares in Egypt-focused gold miner Centamin picked up after a bullish scoping study on its Sukari project upgrade. "Substantially superior comparative project economics were delivered on the 10mtpa plant and required mining scenario compared to the base case 5Mtpa process plant," Centamin said. R
Read moreFTSE 250 movers: Stocks hold off bad weather
21st Dec 2010 15:15
The market has held on to early gains led by paper and packaging group Mondi and information technology services firm Computacenter. Centamin Egypt continues to rise after the results of the Sukari project scoping study showed that the gold miner can more than double the capacity of its process pla
Read moreCentamin reaches high grade ore
19th Oct 2010 14:24
Gold miner Centamin Egypt says it has reached the high grade ore at its Sukari mine. The underground operations should commence commercial production in a few months time. Underground mining contractor Barminco has mobilised additional equipment on the site. Centamin will announce its third qu
Read moreWednesday tips round-up: Hargreaves Services, Hilton Food, Ashmore...
15th Sep 2010 06:54
The three main growth areas for Hargreaves are niche coal supplies in Europe, renewable power and the development of the Tower Colliery in Wales, bought by the miners in 1995 after it was closed down. Tower is to reopen in the spring, the coal extracted over seven years and the site then redevelop
Read moreTuesday tips round-up: BAE Systems, AB Foods, CSR...
14th Sep 2010 06:50
BAE shares have been poor performers since the start of 2009 and various analysts believe the fall has been overdone. Further clarification in the spending review might set nerves at rest, but for now BAE shares sell on a relatively inexpensive seven times this year's earnings with the buttress of
Read moreFTSE 250 movers: Chips not down for CSR
13th Sep 2010 17:35
Bluetooth chip specialist CSR advanced after saying it is using its cash pile of more than $400m (£260m) to buy back as much as $50m (£32m) of shares. Bosses said they are "very confident" in the company's investment case and ability to generate shareholder value. On the downside, Centamin Egypt f
Read moreLondon close: Strong run continues
13th Sep 2010 16:42
Shares continued rising Monday as they reacted positively to new banking regulations and Chinese economic data. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. Stocks haven't been this high since 30 April. Banks were
Read moreLondon afternoon: Buyers buzzing
13th Sep 2010 15:27
The leading index is near its best levels of the day following a strong start on Wall Street, fuelled by new Basel III bank rules and impressive Chinese factory output. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. S
Read moreLondon midday:Miners and banks lift index
13th Sep 2010 12:20
London's strong start to the day has continued with banks, miners and the odd sprinkling of bid talk giving buyers lots to bite on. Banks are among the top risers after a less stringent than feared Basle III decision by the European banking body. Royal Bank of Scotland and Lloyds are both in demand
Read moreBroker tips: AB Foods, Thorntons, Centamin Egypt
13th Sep 2010 11:14
Investors should switch out of AB Foods into Unilever following today's trading update from the sugar giant and Primark owner, advises Charles Stanley. Forecasts of a 6% increase in like for like sales at discount clothes store Primark during the 53 weeks to 18 September is down from 8% rise for th
Read moreBroker snap: Centamin Egypt problems only 'short term'
13th Sep 2010 11:13
Centamin Egypt fell as much as 13% at one stage this morning after revising down 2010 gold production estimates, but Ambrian thinks all the problems are only short term, so keeps its 'buy' stance. Full calendar-year production guidance was dropped from 200,000 ounces (oz) for 2010 to 160-170,000oz,
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