London 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 midday: Banks shine but Footsie falls
29th Oct 2009 12:05
Shareholders in Royal Dutch Shell are grateful to Lloyds Banking Group for wresting investor attention away from the Anglo-Dutch company's poorly received results, as the part-nationalised bank confirmed it is contemplating digging an escape tunnel from the government's asset protection scheme. Llo
Read moreLondon open: Banks cure Shell shock
29th Oct 2009 08:34
UK blue chips continued yesterday's poor form, falling further in early deals as Shell disappointed with a 73% plunge in quarterly profits, but recovering financial plays soon erased the deficit. Royal Dutch Shell's third quarter earnings crashed to just $3bn from $10.9bn a year ago on a current co
Read moreSector movers: Pru drags insurance sector lower
28th Oct 2009 13:30
Life insurance stocks fall back after a dive in UK business sent Prudential's group insurance sales down 9% during the third quarter. The Pru reported insurance sales of £700m for the three months ended 30 September, with nine-month sales also dropping 9% to £2.02bn. UK retail sales slumped 22% to
Read moreAviva appoints new finance chief
23rd Oct 2009 15:55
Insurer Aviva has appointed Patrick Regan as its finance director and he will join the company in February next year. Regan is chief operating officer and finance director of the giant insurance broker Willis Group Holdings. He has also been financial controller at rival insurer Royal & Sun Allian
Read moreLondon close: Tough day for Footsie
22nd Oct 2009 16:41
Blue chips rallied late in the day, but it was a tough session generally with miners and insurance companies under pressure. Telcos led the rally with Vodafone, British Telecom and satellite group Inmarsat all making gains near the close. Lloyds was also a late riser as on reports that it is close
Read moreLondon afternoon: Stocks stuck at lower levels
22nd Oct 2009 14:10
The Footsie finished the lunch-time session little changed from where it started it, despite mining stocks trimming losses sustained in the morning. Mining giant Anglo American is actually higher on the day after it announced plans to divest assets, including its zinc and tarmac operations, as it
Read moreSector movers: Aviva weighs on insurance
22nd Oct 2009 13:21
Aviva is weighing on the insurance sector after announcing that it is restructuring its European operations, turning its 12 separate continental businesses into a single pan-European unit. While the market is unimpressed, broker Panmure Gordon said the decision would give Aviva additional muscle in
Read moreBroker tips: Pub groups, Aviva, Debenhams
22nd Oct 2009 12:26
The decision by the Office of Fair Trading (OFT) not to investigate the beer tie which forces pub tenants to buy their beer from their landlords has prompted a surge in the share prices of the pub groups, and this presents a good opportunity to reduce exposure to cash-strapped Enterprise Inns, Charl
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 moreBroker snap: Aviva restructuring a positive move
22nd Oct 2009 11:56
Panmure Gordon likes the look of the restructuring of its European businesses announced by insurer Aviva on Thursday. 'In our view the strength and future potential of its European operations have been long overlooked and as such we believe that today's move is positive and will be taken well in th
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 moreAviva restructures European business
22nd Oct 2009 07:28
Aviva has announced that it is restructuring its European operations, turning its 12 separate continental businesses into a single pan-European unit. The insurance giant has established a new pan-European management team and will centralise its operations allowing it to build a pan-European approac
Read moreThursday newspaper round-up: Land Registry, National Express, Aviva
22nd Oct 2009 06:10
The Land Registry will announce plans today to cut 1,500 jobs and close a quarter of its national offices before a possible sale of the government department to the private sector, the Times has learnt. National Express, the bus and rail group facing a merger approach from rival Stagecoach, will an
Read moreLondon close: Oil fired Footsie
19th Oct 2009 17:10
Boosted by a bright start on Wall Street equities finished the day with a flourish in London with the FTSE 100 index close to racking up a triple digit gain. Energy stocks saw some late interest as the price of oil moved higher. At midday in New York the price of the most widely traded oil futures
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