London close: Shares end near session high
29th Oct 2009 16:23
London's top stocks closed near its session high on news that the US economy grew faster than expected in the third quarter. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nationalised bank Lloyd
Read moreFTSE 100 movers: Banks bounce back
29th Oct 2009 15:10
Shares in Lloyds Banking, which is in advanced discussions with UK authorities regarding alternatives to entering the state insurance scheme for toxic debt, are soaring. The lender is considering raising cash via an underwritten rights issue and debt swap. Fellow part-nationalised lender Royal Bank
Read moreLondon afternoon: Blue chips track US advance
29th Oct 2009 14:55
America's return to growth in the third quarter, stronger UK banks and a better mining sector have propelled London far into the blue Thursday. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nati
Read moreLondon open: BP heads advance
27th Oct 2009 08:35
BP has helped investors get over last night's three-figure dive on Wall Street, leading London higher in early deals. Index heavyweight BP kicked off the oil majors results season with third quarter figures that showed a smaller than feared drop in profits. Profit attributable to shareholders came
Read moreOrmonde confirms Antofagasta as La Zarza partner
27th Oct 2009 07:37
Ormonde Mining has confirmed Antofagasta as the previously unidentified joint venture partner for its La Zarza ground holdings in the Huelva Province of southern Spain. The Irish explorer said the copper giant, which has huge interests in Chile, will extend the previous exploration by Ormonde to co
Read moreBroker snap: Credit Suisse upgrades miners
23rd Oct 2009 12:57
Mining stocks were doing their bit to drive Footsie forward on Friday morning, helped by an upgrade on the sector by Credit Suisse, which now has a 'benchmark' rating for the miners, having downgraded the sector back in May. 'We upgrade mining because: a) global excess liquidity is at an all-time h
Read moreLondon midday: Footsie off worst but still lower
22nd Oct 2009 12:12
Footsie is off its worst but is still showing hefty falls as miners and insurers lead the market lower. Platinum miner Lonmin has again unsettled the mining sector as it saw a 20% decline in production of the precious metal in the fourth quarter after having to shut down mines for safety reasons an
Read moreLondon open: Miners drag Footsie lower
22nd Oct 2009 08:26
Miners are leading London's blue chips lower in early dealings on Thursday after both Lonmin and Anglo American updated the market. US blue chips also turned down sharply overnight as investors mulled another rush of third quarter earnings figures. Over here, platinum miner Lonmin saw a 20% declin
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 open: Footsie in the red
13th Oct 2009 08:35
Stocks have fallen in early trade, with miners aiding the decline and as investors wait nervously for a flood of results from the US. Miners Randgold, Lonmin, Antofagasta and Rio Tinto are lower on weaker metal prices. But Whitbread was hot property, adding more than 3% after it reported an impro
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 moreLondon afternoon: Vedanta leads miners lower
9th Oct 2009 14:29
Mining stocks remain a proverbial albatross round the market's neck, dragging the Footsie below last night's closing level despite some interest in consumer stocks. Vedanta Resources is the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilit
Read moreLondon midday: Flat morning for Footsie
9th Oct 2009 12:05
London ended the morning session flat with good demand for consumer stocks offsetting some profit taking among mining shares Losses on mining stocks such as Antofagasta, Vedanta and Kazakhmys have lengthened during the session as metal prices remain on a downward trajectory. Gold has fallen back f
Read moreLondon open: Consumers help Footsie progress
9th Oct 2009 08:45
Footsie has shrugged off some profit taking among the miners and more bank weakness to open higher, with consumer stocks leading the way. Gains for Whitbread, Kingfisher and Next are helping Footsie push on despite Lloyds and Royal Bank of Scotland. Both state-controlled banks have been unsettled b
Read moreFTSE 100 movers: Vedanta buoys miners
8th Oct 2009 12:17
Miners are higher after Vedanta said zinc, copper and aluminium operations were at full capacity during the second quarter as it revealed a 16% rise in refined zinc production and a 27% surge in iron ore output. Other risers from the sector include Kazakhmys, Antofagasta, Eurasian Natural Resources
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