London afternoon: Prices drift lower
30th Jun 2009 15:24
London continues to sleepwalk to the end of the month, with prices drifting lower in light trading after Wall Street opened in negative territory. With the oil futures contract edging steadily higher, heavy fuel users such as airline British Airways and cruise operator Carnival are on the slide. I
Read moreLondon midday: Marking time
30th Jun 2009 12:10
Leading equities are treading water on the last day of the month, quarter and half-year. Wolseley is one of the best performers after chief executive Chip Hornsby stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves after 27 years
Read moreLondon open: Blue chips head south
30th Jun 2009 08:54
London has opened lower despite a good showing on Wall Street overnight and interest in the banks this morning. Wolseley is the best performer as chief executive Chip Hornsby has stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves
Read moreLondon pre-open: Flat start predicted
30th Jun 2009 07:40
Expect London to open little changed if futures prices are anything to go by after Wall Street maintained its healthy lead through to the close last night. Wolseley chief executive Chip Hornsby has stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. H
Read moreAntofagasta seals $1bn Esperanza funding
30th Jun 2009 07:04
Antofagasta has achieved financial closing and satisfaction of conditions to borrowing for $1.05bn of project financing for the Esperanza copper-gold project in Chile. The miner, which owns 70% of the project, said first disbursement is expected to take place during July. Construction started in t
Read moreLondon open: Miners drop early on
25th Jun 2009 08:10
London's top stocks are lower in early dealings Thursday following a weak finish in the US last night, with miners among the main fallers. Lonmin, Antofagasta and Eurasian Natural Resources are all stuck in the red. Elsewhere in the sector, the Times is reporting that Xstrata has stepped up its cam
Read moreTechnical Analysis: Miners rally off support
24th Jun 2009 16:31
Commodity prices continue to slide lower on the back of doubts over the sustainability of the economic recovery. The LMEX base metal index, which I referred to last week, has continued to fall and bounced off its long term support line on Monday. The subsequent rally in mining stocks has been the
Read moreLondon open: Footsie marks time
24th Jun 2009 08:34
Early gains for the blue chip index have been pulled back by the combination of ex-dividend reductions and a gloomy results statement from Comet owner Kesa. Anglo American is the best performer on rumours that Xstrata's merger approach has alerted Vale from Brazil and Rio Tinto's erstwhile partner
Read moreLondon close: Lacklustre Footsie in late fall
23rd Jun 2009 16:44
Footsie slipped into the red in late trading Tuesday having sat just above the zero mark for most of the day on a lacklustre day's trading. Information conglomerate Thomson-Reuters moved up after it confirmed it is to delist from the London Stock Exchange and NASDAQ, while retaining its listings on
Read moreLondon afternoon: Miners provide a lift
23rd Jun 2009 14:15
London remains moderately firmer, helped by expectations of a similarly gentle upward shift on Wall Street when the US market opens and the strength of mining stocks. Information conglomerate Thomson-Reuters is on the upturn after it confirmed it is to delist from the London Stock Exchange and NASD
Read moreFTSE 100 movers: L&G takes downgrade hit
23rd Jun 2009 13:50
Insurers struggled as Societe Generale cut its rating on Legal & General to "sell" from "hold" and slashed earnings forecasts for the current financial year and the next. Friends Provident fell back in sympathy. Copper miner Antofagasta was one of the top blue chip risers as metal prices improved,
Read moreLondon close: Footsie closes flat
18th Jun 2009 16:34
A late afternoon rally fizzled out to leave Footsie little changed after a volatile day. Economic stories dominated the news with mixed data in the UK offset by better than expected intial jobless figures in the US. UK mortgage lending eased in May from the month before and was 58% lower than the
Read moreLondon afternoon: US rally lifts Footsie
18th Jun 2009 15:03
Better than expected US dole queue figures have lifted Footsie in the afternoon session, despite very mixed economic data here at home. Mortgage lending eased in May from the month before and was 58% lower than the same time last year, figures showed today. The Council of Mortgage Lenders (CML) s
Read moreLondon midday: Economic data knocks retailers
18th Jun 2009 12:02
Leading shares drift lower after disappointing retail sales and weaker mortgage lending in May. The economic data proved to be a double-whammy for DIY retailers Home Retail and Kingfisher, which feature prominently among the main fallers. Elsewhere in the retail sector fashion chain Next and Currys
Read moreLondon open: Miners and banks on the rise
18th Jun 2009 08:17
Miners and banking shares are leading London's top stocks higher in early dealings following recent heavy falls. In the mining sector, Xstrata is the strongest performer, closely followed by Kazakhmys, Fresnillo and Antofagasta. Banks are also in demand, with both Royal Bank of Scotland and Lloyds
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