London close: Footsie runs out of steam
26th Aug 2009 16:27
Wall Street's inability to hold onto new home sale-inspired gains was the final nail in the coffin for London, bringing to an end a six-day winning streak. Much of the blame lay with the UK-listed miners who hogged the list of largest losers on weaker metal prices. Antofagasta was among the worst
Read moreLondon afternoon: RBS buoyed by pension moves
26th Aug 2009 14:32
Equity prices are mixed with a lower bias. The Footsie continues to drift lower, weighed down by underperforming resource stocks. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-tax profit of £34.
Read moreSector movers: Oil services firms slip as profits slide
26th Aug 2009 12:18
Oil equipment and services stocks are lower after two companies reminded the market how tough times are in the sector. John Wood saw profits slide in the half-year as the tough market conditions hit exploration and production (E&P) spending worldwide. UAE-focused oil and gas engineering services g
Read moreLondon midday: Resource stocks a drag
26th Aug 2009 12:09
Given that resource stocks are in the dog-house the Footsie is doing well to be only moderately in the red on a day of mixed results for blue chips. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-t
Read moreLondon open: Lower start for FTSE 100
26th Aug 2009 08:20
Footsie is slightly lower in early dealings, with the advertising group WPP the leading share index's heaviest faller after reporting interim results. WPP said half-year results continue to reflect the impact of the global economic contraction, which continued to intensify in the second quarter, th
Read moreLondon pre-open: Equities held in check by US budget fears
26th Aug 2009 07:45
London seems unsure which way to turn on Wednesday morning despite a strong showing by the US market yesterday and Asian markets overnight. Enthusiasm for equities has been dampened by a White House report predicting a federal budget deficit of $9 trillion over the next decade, $2 trillion more tha
Read moreCopper slide hits Antofagasta
26th Aug 2009 07:20
Mining firm Antofagasta posted a sharp slide in pre-tax profits as metals prices slid. For the six months to June 30, pre-tax profits totalled $476.6m, compared with $1.66bn over the same period the previous year, as revenues slid to $1.18bn from $2.40bn. Copper production fell by 6.6% to 218,200
Read moreLondon close: Footsie rally continues
25th Aug 2009 16:32
After an afternoon of see-sawing between the red and the blue, Footsie finished in positive territory and above the 4,900 point mark, continuing its rally. State-owned lender Royal Bank of Scotland finished with good gains after it said it will cut the level of benefits received by members of its
Read moreLondon afternoon: US data encourages Footsie
25th Aug 2009 15:11
A strong start on Wall Street is keeping London in the blue, just, with investors welcoming a bigger than expected jump in US consumer confidence. The leading index remains on course for a sixth consecutive day of gains after state-owned lender Royal Bank of Scotland said it will cut the level of b
Read moreFTSE 100 movers: Miners weigh on index
25th Aug 2009 14:12
Miners are still leading the blue chip fallers. Kazakhmys, Xstrata, Antofagasta, Eurasian Natural Resources, Rio Tinto, BHP Billiton and Randgold Resources are among the worst in the sector. Royal Bank of Scotland is topping the risers, while Standard Chartered is lower after the FT reported the s
Read moreLondon midday: Footsie still in the red
25th Aug 2009 11:54
Despite threatening to move back into positive territory an hour ago, the Footsie has slid further back down into the red. Miners are still heavily weak with seven out of the top ten losers so far from the sector. Kazakhmys, Xstrata, Antofagasta, Eurasian Natural Resources, Rio Tinto, BHP Billiton
Read moreLondon open: Miners lead decline
25th Aug 2009 08:15
Miners are leading London's top stocks lower in early dealing after a poor afternoon session in the US and weaker Asian markets. Kazakhmys is the worst performer, down more than 4%, closely followed by Lonmin, Xstrata, Antofagasta, Eurasian Natural Resources, Rio Tinto, Anglo American, BHP Billito
Read moreLondon close: Blue chips at 10½-month high
20th Aug 2009 16:28
A brace of better than expected US data reinvigorated markets early afternoon Thursday, helping London close at it highest since early October. The Philadelphia Fed manufacturing index rose to +4.2 in August from -7.5 in July, while the Conference Board's index of leading economic indicators rose 0
Read moreLondon afternoon: Prices bubble over
20th Aug 2009 14:14
Equity prices came off the top over the lunch-time session but remain firmly in the blue, albeit in thin trade, largely due to the strength of miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lowe
Read moreLondon midday: Retail sales give a boost
20th Aug 2009 12:10
July's retail sales figures have given a lift to an already buoyant equity market. Figures revealed sales grew 0.4% from June, putting the annual increase to 3.3%, the highest since May 2008. Economists had predicted a rise of just 0.2% for July following June's 1.2% gain and a 2.7% year-on-year imp
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