London afternoon: Miners spooked by China
18th Feb 2011 14:46
Footsie staged a half-hearted recovery over the lunch time session but the market remains lower on balance, largely as a result of weak miners, which have taken fright at further attempts by the Chinese authorities to cool down the Chinese economy. China has raised bank reserve requirements by half
Read moreFTSE 100 movers: Anglo American declines on JV
18th Feb 2011 12:56
The market was not too impressed with Anglo American's UK cement and aggregates joint venture with Lafarge. Anglo American will put its Tarmac business into the 50/50 joint venture. The businesses have combined revenues of £1.8bn and there could be cost savings of £60m a year. In 2010, Anglo Ameri
Read moreLondon midday: FTSE 100 in the red
18th Feb 2011 12:15
Weakness in the mining sector has sent the top share index further into the red. Miner Anglo American is down even though it doubled profits in 2010 and is merging its UK cement, aggregates and ready-mixed concrete business with French giant Lafarge. Underlying earnings leapt to $4.98bn from $2.5
Read moreLondon open: Blue chips ease lower
18th Feb 2011 08:54
London has drifted lower in early dealing with attention switching to Bahrain and some mixed trading updates. Miner Anglo American is down even though it doubled profits in 2010 and is merging its UK cement, aggregates and ready-mixed concrete business with French giant Lafarge. Underlying earni
Read moreLondon pre-open: Looking for direction
18th Feb 2011 07:38
London is set to make an indecisive start to the final trading day of the week with City traders predicting the top share index will open a couple of points lower. Miner Anglo American doubled profits in 2010 and is merging its UK cement, aggregates and ready-mixed concrete business with French gia
Read moreAnglo American cements alliance with Lafarge
18th Feb 2011 07:04
Miner Anglo American doubled profits in 2010 and is merging its UK cement, aggregates and ready-mixed concrete business with French giant Lafarge. Underlying earnings leapt to $4.98bn last year from $2.57bn in 2009 on revenue up 34% to $32.93bn. Profit before tax rose 171% to $10.93bn and underlyin
Read moreLondon close: Late rally not enough
15th Feb 2011 16:44
Weakness in the US sent shares into the red and a slight rally in late trading failed to lift the FTSE 100 into positive territory. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Ex
Read moreSector movers: Miners down on inflation concerns
15th Feb 2011 16:24
The mining sector has taken a hit as an increase in the Chinese inflation rate raised the prospect of further increases in Chinese interest rates in the near future. Consumer prices rose at an annual rate 4.9% in China in January. The rise compares with a 4.6% increase in December, which was still
Read moreLondon afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreFTSE 100 movers: Barclays leads risers
15th Feb 2011 13:57
There was a positive reaction to Barclays' results and Lloyds and RBS have risen in sympathy. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad debt charges tumbled everywhere except Spain. Real estate investment trust British Land grew underl
Read moreLondon close: Late gains for FTSE 100
8th Feb 2011 16:59
The top share index closed with good gains after a late spurt. It was a see-saw day for miners after China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point to 3%. Mining giant Xstrata started the say well after r
Read moreLondon afternoon: Inmarsat takes flight
8th Feb 2011 14:40
Though miners remain a drag on the index following the Chinese interest rate hike, Footsie struggled back into positive territory over the lunch time session. China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point
Read moreLondon midday: China rate rise hits miners
8th Feb 2011 12:10
Shares are slightly under pressure after China's interest rate rise, but stocks move in both directions after updates. China has raised interest rates for the second time in just over a month as the fast-growing east Asian economy continues battling inflation. Mining giant Xstrata is in the red no
Read moreFTSE 100 movers: Another discovery for BG
26th Jan 2011 12:47
BG Group has been boosted by yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in a water depth of 2,151m, approximately 275km off the coast of São Paulo state. BG has a 30% stake. Mining companies are rising again today. Anglo American
Read moreSector movers: Mining shares dive
20th Jan 2011 16:09
The mining sector is having a bad day as a potential rate hike in China plays on investors' minds. The Chinese economy grew at a higher-than-expected rate in the fourth quarter which could see the country raise interest rates to curb rising inflation, and in turn, reduce the demand for commodities.
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