London close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreLondon midday: Financials lead rally
4th Jun 2009 12:03
The Bank of England's interest rate decision was every bit the non-event economists had been predicting, with the key lending rate left unchanged at 0.25% while no further changes to the quantitative easing programme have been made. Equities remain slightly firmer, with financials recovering some o
Read moreTechnical Analysis: Mining sector makes new highs
2nd Jun 2009 11:07
The break above the highs of this year, on both the Reuters Jeffries CRB and Goldman Sachs Commodity Index last month, at 245.00 and 384 respectively, has seen commodity shares continue their rally over the past few days. They have also broken their respective 200 day moving averages, with the CRB
Read moreLondon close: Jittery Footsie finishes lower
20th May 2009 16:36
Footsie failed to sustain a slight rally that came after a positive US opening and finished in the red after an indecisive day's trading. Miners Lonmin, Rio Tinto, Vedanta, Randgold, Antofagasta and Kazakhmys all went well, while silver and gold producer Fresnillo was wanted after it said it has su
Read moreLondon afternoon: Wall St. sparks London rally
20th May 2009 14:49
A buoyant opening on Wall Street has encouraged UK shares to claw back the morning's losses and the FTSE 100 is now virtually back up to its overnight level. Banks are leading the revival, with Lonmin, Rio Tinto, Vedanta, Randgold, Antofagasta and Kazakhmys all going well, while silver and gold pro
Read moreLondon close: Footsie climbs higher
18th May 2009 16:50
Footsie closed with strong gains after steady advances throughout the afternoon, supported by a good showing on Wall Street. It was India that stole the show among world markets though in the wake of the Congress party's election victory. Vedanta, which mines for copper in the country, shrugged off
Read moreLondon afternoon: Momentum gathers pace
18th May 2009 14:33
A strong start on Wall Street has given renewed impetus to London's advance, with a strong showing by the Indian stock exchange also benefiting some India-focused stocks. Vedanta is a rare bright spot among miners, benefiting from the bounce Indian stocks received in the wake of the country's elect
Read moreLondon midday: Lloyds lifts market
18th May 2009 11:57
Leading shares are off the top but Footsie remains in positive territory despite the mining sector moving down virtually en masse. Vedanta is a rare bright spot among miners, benefiting from the bounce Indian stocks received in the wake of the country's election result. India's Sensex index surged
Read moreAntofagasta gets $1bn financing for Esperanza
18th May 2009 07:39
Miner Antofagasta has arranged a $1.05bn, 12-year financing facility for its Esperanza copper-gold project in Chile. Definitive agreements were signed by Minera Esperanza in which Antofagasta has a 70% stake. Marubeni Corporation owns the rest. Lenders include Japan Bank for International Coopera
Read moreTechnical Analysis: Miners start to slip back
14th May 2009 13:45
The continued rise of commodity prices have served to underpin the mining sector over the past few months and seen the prices of some mining stocks double. There is a concern that commodity prices may have peaked in the near term, as we have seen both the Reuters CRB Index and Goldman Sachs Commod
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