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The Guardian (UK): Miners gain support from upgrade

Nick Fletcher
Saturday July 7, 2007

Elsewhere crude oil climbed to more than $76 a barrel, an 11-month high, on strong demand, concerns about falling inventories in the US and worries about unrest in Nigeria. So Royal Dutch Shell A shares rose 59p to £21.15 and BP was 6.5p better at 610.5p. They were helped by Deutsche Bank issuing a buy note on both companies and increasing its price targets. It has lifted its BP target from 580p to 670p and its Shell forecast from £19.50 to £23.75p. It also raised BG from 890p to 925p, prompting a 16p rise in the gas group’s share price to 829p. The rise in the oil and mining companies outweighed continuing worries about further interest rate rises, and by the close the FTSE 100 was 54.9 points better at 6690.1.

The above is an extract. For the full article go to…

http://business.guardian.co.uk/marketforces/story/0,,2120979,00.html
 

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