Egypt posts record EGP629b primary surplus in 2024/25    EGP swings vs. USD in early Sunday trade    EGX launches 1st phone app    Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Miners Lead U.K. Stocks Higher; Banks Weigh
Published in Amwal Al Ghad on 02 - 10 - 2012

U.K. miners led the London benchmark index into positive territory on Tuesday, as they cheered a positive gold forecast from analysts.
The FTSE 100 index UK:UKX -0.19% picked up 0.3% to 5,835.36
Mining firms were the main driver for gains after Deutsche Bank lifted price estimates for copper and said gold prices likely will break the $2,000 an ounce level in the first half of 2013.
“We believe that expanding monetary conditions globally will provide the catalyst for higher gold prices," analysts at the bank said.
Gold miner Randgold Resources Ltd.UK:RRS +1.37% rose 2.5%, while peer firm Fresnillo PLC UK:FRES +2.07% gained 1.8%. Sector heavyweight and one of the world's largest copper miners Rio Tinto PLC UK:RIO -0.78% AU:RIO +1.16% RIO +0.26% rose 1.4%.
Building-materials supplier Wolseley PLC UK:WOS -0.56% added 2.4% after it increased its full-year dividend, even as pretax profit for fiscal 2012 declined.
Babcock International Group PLC UK:BAB +2.44% jumped 3.7% as the engineering-services provider said market conditions continued buoyant and it remained confident that it could meet expectations for the year.
Some banks bucked the positive trend in London. Royal Bank of Scotland Group PLCUK:RBS -3.34% RBS -2.23% and Lloyds Banking Group PLC UK:LLOY -2.38% LYG -1.59% each dropped more than 2.3% after UBS cut the banks to neutral from buy.
Insurance firm Prudential PLC UK:PRU -0.06% lost 0.4% as Credit Suisse lowered its rating on the European insurance sector to benchmark from overweight. Peer firm Standard Life PLC UK:SL -0.14% fell 0.5%, while Admiral Group PLC UK:ADM -0.19% shed 0.8%.

Market Watch News


Clic here to read the story from its source.