FTSE 100 movers: Miners dominate fallers
17th Aug 2009 12:50
Shares in Fresnillo dropped after the silver miner saw revenue slide in the first half of 2009 by 10.7% from a year earlier to $378.9m, as the realised silver price over the period dropped 21.9% to $13.92. Earnings before interest, tax, depreciation and amortisation eased 4.1% to $203.4m. Attributa
Read moreSector movers: Miners fall as markets plunge
17th Aug 2009 12:38
Mining stocks are in the firing line as markets plummet around the world and commodity prices slide. Among the heaviest fallers in the large-cap index are Xstrata, Anglo American and Rio Tinto. Copper prices fell back after stockpiles monitored by the London Metal Exchange rose again. Precious me
Read moreLondon midday: Deep in the red
17th Aug 2009 11:59
London's benchmark index is posting deep losses as miners weigh on the market on worries that the recent gains may have been overdone. Concerns grow about the health of the US economy following Friday's dismal consumer sentiment data. Asian markets were down overnight, while US futures also point l
Read moreLondon open: Miners lead decline
17th Aug 2009 08:22
London's top stocks started the week on a weak note with miners leading the fallers in early trading Monday morning. Xstrata is the worst performer, closely followed by Kazakhmys, Vedanta Resources, Antofagasta, Anglo American, Lonmin and Old Mutual. Fresnillo is also down after the silver miner s
Read moreSunday's newspaper round-up: BAT, bonus culture, Pearl
16th Aug 2009 14:04
Richard Burrows, a former governor of the Bank of Ireland, is to take on one of the most powerful roles in British business. He is to become chairman of British American Tobacco, says the Sunday Times. The scale of the resurgent bonus culture at Britain's banks has been laid bare by Office of Natio
Read moreLondon close: US optimism lifts blue chips
13th Aug 2009 16:32
Optimism over the state of the US economy, fuelled by yesterday's statement from the Federal Reserve helped Footsie post good gains. Miners were in demand. Kazakhmys led the mining sector higher, with Xstrata, Lonmin, ENRC, Rio Tinto, Vedanta, and Antofagasta also going well. Anglo American is
Read moreLondon afternoon: Advance slowed by US retail sales data
13th Aug 2009 14:15
Optimism over the state of the US economy, fuelled by yesterday's statement from the Federal Reserve that the US economy may have seen the worse of the recession, took a knock from the release of US retail sales figures which unexpectedly showed a fall in July. The news took the shine off some of th
Read moreLondon midday: Shares hold on to early gains
13th Aug 2009 12:17
The Footsie has been trading sideways since around 10:00am after a bright start that was inspired by yesterday's statement from the Federal Reserve that the US economy may have seen the worse of the recession. The news has spurred demand for commodities stocks on expectations that a recovery in the
Read moreAnglo American completes Tongaat stake sale
13th Aug 2009 08:39
Miner Anglo American said it has completed the sale of its shareholding in the South African business Tongaat Hulett to institutional shareholders for approximately $523m. The group completed the sale by way of an accelerated bookbuild of 51.2m Tongaat Hulett Limited shares placed with qualifying
Read moreLondon close: Footsie finishes just down
4th Aug 2009 16:33
London staged a late rally but still finished just in the red as financials weighed and the US started in tepid fashion. Asia-focused bank Standard Chartered was the biggest faller of the day after saying it is to raise £1bn through a placing. It posted solid first half figures with profits up by 1
Read moreLondon afternoon: Footsie has rare down day
4th Aug 2009 15:02
Footsie is having a poor day with financial and miners weak and a flat start to trading on Wall Street. Insurer Legal & General set the downbeat tone by slashing its interim dividend by 45% after posting a loss of £1bn on a European embedded value (EEV) basis. The half-year dividend has been cut t
Read moreLondon midday: Dull morning for Footsie
4th Aug 2009 12:03
Stocks remain stuck in the red after a poor morning session with shares undermined by miners slipping back and financials under pressure. Insurer Legal & General set the tone, by slashing its interim dividend by 45% after posting a loss of £1bn on a European embedded value (EEV) basis. The half-yea
Read moreMetals slump hits Xstrata
4th Aug 2009 07:17
Miner Xstrata reaffirmed its belief in a merger with rival Anglo American as it revealed a steep drop in sales and earnings in the first half. "The combination would create a new major diversified mining powerhouse, able to compete more effectively with our larger peers including BHP Billiton, Rio
Read moreLondon close: Footsie ends at 10-month high
3rd Aug 2009 16:16
Blue chips closed at their highest since early October as investors piled into heavyweight miners and the big banks, although the index failed to hold above 4,700. Oil services specialist Petrofac was in pole position after UBS upgraded the shares to 'buy' and its target price to £10. Crude prices
Read moreLondon afternoon: Banks dominate as Footsie rises
3rd Aug 2009 14:50
Footsie is still well in the blue with HSBC and Barclays leading the way and a decent start on Wall Street helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with the results. Barclays deli
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