Broker snap: Anglo preferred to Xstrata
20th Oct 2009 12:02
The third quarter production update from Switzerland-headquartered miner Xstrata contained ‘some solid numbers’ but FinnCap thinks investors will be better off switching to one-time Xstrata merger target Anglo American. ‘Of all the commodities produced by the company, thermal coal and copper are th
Read moreFTSE 100 movers: Property plays boosted by broker upgrade
19th Oct 2009 15:01
Property stocks are among the best performers today after a positive note on the sector from Evolution Securities, which has upped its ratings for British Land, Liberty International and Segro. Miners are going well on higher metal prices, led by the two bid antagonists Anglo American and and Xstr
Read moreLondon midday: More gains for Footsie
19th Oct 2009 12:14
Mining and property stocks have sparked another strong morning for the FTSE 100 index. Miners Fresnillo, Kazakhmys, Vedanta, Anglo American, Xstrata and Antofagasta are leading the way. Property stocks are lifted by a positive note on the sector from Evolution Securities, which has upped its rat
Read moreLondon close: Blue chips slip lower
16th Oct 2009 16:50
London's blue chips closed lower as investors used a 100 point plus fall for the Dow as an excuse to take profits. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutc
Read moreLondon afternoon: Stocks remain lower
16th Oct 2009 14:54
London's blue chips are still in the red in midday dealings after the Dow dropped more than 100 points in the US. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutch
Read moreLondon midday: Footsie gains evaporate
16th Oct 2009 12:07
London is back where it finished yesterday's session as a sell-off in the mining sector on weaker metal prices gathered pace near lunchtime. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning.
Read moreLondon close: Blue chips falter after recent strength
15th Oct 2009 16:38
London closed lower as bumper profits at US investment bank Goldman Sachs failed to spark Wall Street, which has retreated from the 10,000 mark hit last night. Goldman Sachs reported quarterly earnings per share of $5.25 versus the $4.24 predicted. Revenue of $12.37bn was much better than the $11.0
Read moreLondon afternoon: Stocks stuck in red
15th Oct 2009 15:13
Bumper profits at US investment bank Goldman Sachs have failed to ignite fresh buying interest on Wall Street, leaving London weaker as resource plays struggle. Goldman Sachs pitched in with forecast-busting third quarter numbers, but that's not been enough to extend the Dow's gains above 10,000. T
Read moreLondon midday: Sainsbury's soars on Qatar rumours
15th Oct 2009 12:12
J Sainsbury is the stand-out riser so far on talk that the Qatar investors in the supermarket are looking to build on their current 26% stake, but it is no more than rumours so far. Otherwise Footsie is marking time, but that could change after bumper figures from Goldman Sachs. The banking giant r
Read moreFTSE 100 movers: Qatari talk lifts Sainsbury's
15th Oct 2009 10:33
Supermarket giant J Sainsbury was the star performer on an otherwise dull day for Footsie on rumours that sovereign wealth fund Qatar Investment Authority (QIA) was considering another bid for the supermarket group. The QIA dropped a proposed 600p per share, or £10.2bn, bid for Sainsbury's in Nove
Read moreLondon open: Shares add to stellar gains
15th Oct 2009 08:19
London's top stocks are adding to yesterday's gains in early trading after the Dow Jones closed above the key 10,000 barrier for the first time in over a year. Miner Xstrata said today that it has no intention of making an offer for rival Anglo American. The announcement came after a put-up or shu
Read moreLondon pre-open: Footsie to add to gains
15th Oct 2009 07:40
Footsie is expected to top up yesterday's strong gains after the Dow Jones closed above the psychologically important 10,000 barrier for the first time in over a year. Miner Xstrata said today that it has no intention of making an offer for rival Anglo American. The announcement came after a put-u
Read moreXstrata walks away from Anglo bid
15th Oct 2009 07:15
Miner Xstrata said today that it has no intention of making an offer for rival Anglo American. The announcement came after a put-up or shut-up ruling following an appeal by Anglo to the Takeover Panel over the disruption to its business caused by the interest from Xstrata. Earlier this month, Xst
Read moreSunday newspaper round-up: JJB Sports, Lloyds Banking, Punch Taverns
11th Oct 2009 11:16
JJB, the sportswear giant, claimed last night that it was the target of an elaborate hoax designed to sabotage a £100m fundraising plan and wreck the reputation of its chairman. The allegations were so serious that the retailer was forced on Friday to postpone the rights issue because it believed "
Read moreLondon close: Flat finish for sluggish Footsie
9th Oct 2009 16:31
Footsie ended the week without any real sense of direction, holding onto gains posted earlier in the week. Vedanta Resources was the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilities were lower than Goldman had expected. Lower industri
Read more