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Sector movers: Housebuilders, miners lead the fallers

Wed, 05th Mar 2014 14:52

Construction and housing stocks were hit by cautious comments from analysts on Wednesday, while miners were dampened by concerns over growth targets from top metals consumer China.Credit Suisse weighed on sentiment in the housebuilding sector today after downgrading its rating for the category from 'overweight' to 'market weight', telling investors that it is time to take profits."To be absolutely clear we are not calling the top of the UK housing cycle, rather we are calling the top of the equity story, as we believe current valuations already factor in substantial future growth in the next two years," said Research Analyst Harry Goad.Credit Suisse cut its recommendations for Barratt Developments, Bellway, Persimmon and Taylor Wimpey from 'outperform' to 'neutral', causing share prices to drop.Building materials firm CRH fell in sympathy, along with construction equipment rental group Ashtead.Investors in the mining sector, meanwhile, were underwhelmed by growth forecasts from the Chinese government, which expects the global powerhouse to grow by 7.5% this year."On face value China re-affirming a 7.5% growth target should be good news on recent form, but analysts have cast doubt over whether that is achievable given leadership goals of curbing credit and pollution concerns, and it looks like the much debated economic reform is trying to tick a few too many boxes," said Toby Morris, Senior Sales Trader at CMC Markets.Mining stocks such as Polymetal, Kazakhmys and Fresnillo were trading in the red. Heavyweights Rio Tinto and BHP Billiton were also providing a drag on the sector after going ex-dividend today.Shares in Strategic Natural Resources lost almost a fifth of their value after the AIM-listed natural resources developer admitted a creditor of 74%-owned Elitheni had begun legal proceedings to repossess rented containers. The group also revealed it continued to receive pressure from some of its own creditors as it sought to find a viable funding solution.Top performing sectors so far todayInsurance (non-life) 1,876.63 +1.75%Tobacco 37,783.50 +1.11%Automobiles & Parts 9,448.12 +0.32%Industrial Metals & Mining 893.47 +0.18%Food & Drug Retailers 4,355.79 +0.16%Bottom performing sectors so far todayConstruction & Materials 4,792.61 -2.46%Household Goods & Home Construction 11,771.59 -1.67%Mining 16,935.33 -1.64%Industrial Engineering 10,933.81 -1.48%Banks 4,594.94 -0.91%BC
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17 Sep 2014 12:34

Strategic Natural Invests In Torrance Oilfield; Appoints New Operating Chief

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23 Jul 2014 17:28

Strategic Natural Resources Is To Be Delisted

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21 Jul 2014 11:46

Strategic Natural Pulls Out Of Investment In Millennium Energy

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7 Jul 2014 14:53

Strategic Natural Resources Chairman, CEO Alexander MacDonald Resigns

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1 Jul 2014 09:58

Strategic Natural Reviews Elitheni, Receives Subscription Offer For GBP1.2 Million

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16 Jun 2014 11:28

Winding Up Petition Against Strategic Natural Resources Dismissed

LONDON (Alliance News) - Shares in Strategic Natural Resources PLC surged by more than a quarter Monday, after it said that the winding-up petition filed by London Commodity Brokers has been dismissed, following its settlement of the agreed amounts due. Strategic Natural Resources shares w

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13 May 2014 13:11

UK MIDDAY BRIEFING: AstraZeneca Continues To Reject Pfizer

LONDON (Alliance News) - AstraZeneca Tuesday again rejected Pfizer's "opportunistic" GBP63 million takeover approach, as UK politicians grilled executives of both companies about the potential deal and what it will mean for the UK's pharmaceutical industry.

Cruciall

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13 May 2014 11:09

UK WINNERS & LOSERS: easyJet, TUI Travel Lower As Housebuilders Rise

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.
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FTSE 100 - WINNERS
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Barratt Developments, up 3.1%, and Persimmon, up 2.1%. The housebuilders have

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13 May 2014 10:33

Strategic Natural Resources Gets Some Of The Funding It Needs

LONDON (Alliance News) - Strategic Natural Resources saw its shares fall Tuesday after the company said it had secured an investment of GBP1.5 million in the company, secured a deal to pay off at least one creditor, and said it will appoint several new executives to run the company. The mon

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12 May 2014 11:59

UK MIDDAY BRIEFING: BSkyB Confirms Talks To Buy Sky Italia, Deutschland

LONDON (Alliance News) - British Sky Broadcasting confirmed Monday that it is working on the potential acquisition of 21st Century Fox's interests in Sky Deutschland and Sky Italia.

Bloomberg, citing people familiar with the matter, reported that talks about the pot

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12 May 2014 11:13

UK WINNERS & LOSERS: Mining Stocks Rise; BSkyB Falls Sharply

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday. ------- FTSE 100 - WINNERS ------- Rio Tinto, up 3.6%, BHP Billiton, up 2.4%, Antofagasta, up 2.4%, Anglo American, up 1.6%, and Glencore Xstrata,

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12 May 2014 10:11

Strategic Natural Resources' Winding Up Hearing Adjourned ForWeek

LONDON (Alliance News) - Strategic Natural Resources PLC said it has agreed with London Commodity Brokers to adjourn its winding up hearing, which was supposed to take place Monday, for one week. The natural resources development company said it continues to hold discussions with London Com

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12 May 2014 07:29

UK MORNING BRIEFING: BSkyB Confirms Deutschland, Italia Merger Talks

LONDON (Alliance News) - UK shares have opened cautiously higher Monday, amid a lack of economic data and with a wary eye on developments in Ukraine.

BSkyB confirmed press reports that has approached its major shareholder 21st Century Fox about buying Sky Deutschlan

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25 Apr 2014 15:37

Strategic Natural Subsidiary Concludes Arbitration With Creditors

LONDON (Alliance News) - Strategic Natural Resources PLC Friday said that its subsidiary Elitheni Coal Ltd has ended arbitration proceedings with certain of its creditors, paying out ZAR5.4 million plus costs of ZAR600,000. The natural resources development company said the payment was less

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31 Mar 2014 14:44

Strategic Natural Resources Pretax Loss Widens; Discussions For New Funding Continue

LONDON (Alliance News) - Strategic Natural Resources PLC said Monday its pretax loss widened during the half-year as it reported the business's first revenues, though warned that if it cannot secure new funding sources soon, its shares may be suspended. In its interim results for the six mo

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