Findel Share News (FDL)

The market remains in credit after yesterday's shake-out and while it is by no means a convincing rally, driven as it is largely by the strength of mining stocks, the hesitancy is probably dictated by the unwillingness of traders to carry large positions over the long week-end.Having been talked down earlier in the week by Credit Suisse miners get a lift today from Goldman Sachs, which foresees capacity restraints affecting iron ore and copper production by 2011. 'In contrast, nickel and aluminium do not appear likely to reach capacity constraints until 2017,' the US bank believes.Anglo American is Goldman's conviction buy in the sector, having upgraded the stock from 'neutral' to 'buy'. Kazakhmys and Vedanta have similarly been upgraded.Rio Tinto is up on reports in Australia that there may be changes to the deal with Chinalco to appease both regulators and major shareholders. It has been upgraded by Goldman Sachs to 'neutral' from 'sell' while the bank's 'buy' rating on Xstrata is maintained. The US bank has raised price target for a number of miners; it has more than tripled its target price on Vedanta to 1,997p from 537p. Rio Tinto's is raised to 2,994p from 1,637p, BHP Billiton's to 1,778p from 1,302p, Anglo American's to 2,491p from 1,124p and Xstrata's to 1,074p from 388p.The day's big faller is British Airways after pre-tax losses came in more than £100m higher than forecasts. It posted a pre-tax loss of £401m, compared with a profit of £922m over the previous year. Revenue climbed to £8.99bn from £8.76bn.The airline said it will focus on cutting capacity and keeping a lid on costs after weak economic conditions and high fuel costs sent the airline tumbling into the red in the year to March 31. Volatile market conditions have prompted management to withdraw its previous revenue guidance for the current financial year Royal Bank of Scotland has appointed Standard Life chief executive Sir Sandy Crombie as its senior independent director. Sir Sandy, who joins in June, is one of three non-executives RBS agreed to appoint over the next three months as part of its bail-out by the UK government.Pub group and real ale brewer Marston's reported a 21% drop in half-year pre-tax profit but said it is encouraged by the modest improvement in trading since mid-February. The interim dividend has been maintained, meaning the shares are currently yielding more than 8% if the final divi is also maintained.PR firm Next Fifteen Communications has ceased takeover talks with Huntsworth and Chime Communications. Property firm Brixton is in discussions with 'a small number of parties' after receiving approaches about a possible offer for the firm. One of the suitors has been confirmed as rival Segro, which is interested in an all-share merger.Elsewhere in the sector, shopping centre developer Liberty International said acceptances for its 95.2m share open offer were 77%.Cash machine advertising specialist i-design expects losses for the year to be ahead of last year after the delay of two banking contracts. European newspaper group Mecom is to raise £142m through a huge rights issue to ease its debt position. Terms of the fully underwritten rights issue are 6 for 1 at 1.5p to raise around £141.5m. Shares in Mecom, which owns papers and websites in the Netherlands, Poland and other markets, closed at 5p last night.Home shopping and educational supplies group Findel has given back all its gains of the past few weeks after admitting it's considering an equity issue. It also warned that the firm's underlying financial performance for the financial year to 3 April 2009 was at the lower end of expectations.