Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1705
    +0.0011 (+0.10%)
     
  • GBP/USD

    1.2639
    +0.0017 (+0.14%)
     
  • Bitcoin GBP

    55,629.57
    -844.39 (-1.50%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

BUZZ-Petra Diamonds: Rises on Bank of America Merrill Lynch upgrade

** Petra Diamonds (LSE: PDL.L - news) up as much as 4.7 pct after Bank of America Merrill Lynch upgrades to buy from hold

** "Given Petra's recent downgrade to pricing guidance (and subsequent consensus earnings revisions) we believe that the issue around rough diamond pricing weakness is now more understood by the market," analysts say in note

** "While channel checks suggest the market for rough diamond remains tepid we see limited evidence to suggest the pricing outlook is worsening", analysts add

** Peer Gem Diamonds down 1 pct in thin trading

** Stock has lost 13 pct since the beginning of the year to Tuesday's close

** Of the 16 brokerages covering the stock, two have a "hold" rating, one "sell" and 13 have "buy" or higher rating (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)