London close: Late recovery not enough
14th Jan 2011 16:39
Shares came off their lows ahead of the close, helped by an improvement on Wall Street, but still finished in the red, with miners among the fallers. The sector was hurt by speculation that commodity hungry China may raise interest rates to cool inflation. The economic powerhouse has lifted reserve
Read moreLondon afternoon: Deficit narrows
14th Jan 2011 15:15
A recovery on Wall Street has helped London narrow losses, although the leading index is in danger of ending the week below 6,000. Miners are still lower amid speculation that commodity hungry China may raise interest rates to cool inflation. The economic powerhouse has lifted reserve requirements
Read moreLondon midday: Mining retreat drags FTSE 100 lower
14th Jan 2011 12:11
FTSE 100 is now firmly in the red as miners retreat amid speculation that commodity hungry China may raise interest rates to cool inflation. The east Asian economic powerhouse has lifted reserve requirements on banks, underlining its determination to deal with inflation. Meanwhile, an increase in
Read moreSteel prices fear after Queensland floods
4th Jan 2011 14:21
Catastrophic floods hitting Queensland in Australia could have a long-term impact on the global steel industry, a leading politician warned today. Queensland state premier Anna Bligh issued the warning after three-quarters of the state's coking coal fields shut down because of the unprecedented wet
Read moreLondon close: Weak finish to strong year
31st Dec 2010 12:44
The FTSE 100 finished the year well below the 6,000 point barrier, having briefly surpassed that psychologically important barrier just ahead of Christmas, but still closed with strong gains for the full year. The top share index has climbed by 25% from its lows earlier in the year, to hit levels n
Read moreSector movers: Rio Tinto drags mining lower
23rd Dec 2010 13:23
Rio Tinto is among the stocks dragging on the mining sector after increasing its offer for Riversdale Mining to A$16 a share in cash, securing the backing of management for a deal worth A$3.9bn (£2.5bn). The mining giant admitted earlier this month it had talked to the Sydney-based firm, which has
Read moreAnglo American completes £376m coal asset sale
23rd Dec 2010 08:18
Anglo American has completed the sale of interests in five undeveloped coal assets in Australia for A$577m (£376m) to a consortium that includes Korea Electric Power Corporation, POSCO and Cockatoo Coal. The sale, first flagged in July, sees Anglo offload the predominantly thermal coal assets. The
Read moreSunday newspaper round-up: Big freeze, Anglo American, 888...
19th Dec 2010 10:51
The big freeze shattered some retailers' hopes of a 'Super Saturday' as treacherous conditions kept shoppers away in some parts of the country. The Trafford Centre in Manchester reported high numbers of customers but Bluewater in Kent said numbers were down compared with last year. Brent Cross sho
Read moreLondon close: Higher finish for sluggish Footsie
10th Dec 2010 16:40
Footsie limped into the blue heading into the weekend after a day in which foreign economic news was the main point of interest. Miners were the centre of attention after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities. Imports jumped to 37.7% from
Read moreLondon afternoon: Footsie still sluggish after mixed US start
10th Dec 2010 15:18
A mixed start on Wall Street has failed to lift Footsie out of its early sluggishness. Miners are going well though, after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities. Imports jumped to 37.7% from 24.2%. Vedanta, Fresnillo and ENRC are among th
Read moreLondon midday: Miners advance after China export data
10th Dec 2010 12:09
Traders will be looking ahead to the US open for guidance now on a sluggish day on the equity markets. The mining sector is a strong performer, after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities, sending metals prices higher. Imports jumped to 37
Read moreLondon open: Footsie struggles for direction
10th Dec 2010 08:56
It's been a very quiet morning so far with little company news and even the eurozone front calming down a little. Standard Chartered is the worst performer with investors still a little unsettled by its admission yesterday that costs are rising faster than revenues. Rolls-Royce is another faller o
Read moreAnglo American's iron ore project one step closer
10th Dec 2010 07:59
Miner Anglo American has secured a key licence for the development of its Minas-Rio iron ore project in Brazil. SUPRAM, the Minas Gerais state agency responsible for environmental licensing, awarded the second part of the Mine Installation Licence on 9 December. Anglo American said the licence awa
Read moreLondon close: Footsie slips back on sluggish day
8th Dec 2010 16:56
Shares struggled to snap out of their earlier sluggishness all day, closing just a few points in the red. Bid-related activity was the main source of excitement. Medical devices group Smith & Nephew was swept more than 9% higher by talk of a possible acquisition. US private equity firms are though
Read moreLondon afternoon: Footsie loses grip
8th Dec 2010 15:19
The 5,800 level is under pressure as a weak start on Wall Street begins to drag London back into negative territory. Insurers Prudential, Aviva and Resolution are doing their best to keep the market's head above water, but losses in the mining sector - Rio Tinto, Randgold and Anglo American have fa
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