London afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its clients to take advantage of recent share price weakne
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
Read moreLondon close: Stocks tread water
3rd Jul 2009 17:12
A late swoon saw Footsie relinquish virtually all of its gains, with losses on resource stocks counter-balancing gains made by banks. Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking were the pick of the banking sector, despite chancellor Alistair Darling firing a warning about the re-eme
Read moreLondon afternoon: Banks lead the fight back
3rd Jul 2009 14:30
Share prices are creeping higher after yesterday's heavy falls, with banking stocks leading the fight back. Barclays, HSBA and Lloyds Banking lead the banking sector higher while insurers such as Aviva and Legal & General are also wanted. An exception to the general strength of insurers is Friends
Read moreBroker snap: Friends may attract interest after demerger
3rd Jul 2009 11:59
The demerger of Friends Provident's asset management subsidiary F&C has received court approval and has taken place today, resulting in a downward adjustment in the share price. Broker Panmure Gordon believes that having offloaded its 52% stake in F&C Asset Management the life assurance company cou
Read moreLondon close: Further losses after World Bank cuts forecast
22nd Jun 2009 16:55
Having endured a dull morning London's leading stocks pitched further into the red in the afternoon session after the World Bank cut its 2009 global growth forecast. British Airways was the biggest faller on arch rival Richard Branson's comments that it should be allowed to go bust if its financia
Read moreLondon afternoon: BA runs into turbulence
22nd Jun 2009 14:52
The Dow Jones has opened with a triple digit fall prompting a further softening of prices on this side of the pond. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and fin
Read moreLondon midday: Footsie struggles despite M&A burst
22nd Jun 2009 12:22
Footsie is struggling despite the possibility of a mega mining merger between Anglo American and Xstrata. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and financial fle
Read moreLondon open: Lower despite rush of bid activity
22nd Jun 2009 08:31
Footsie has opened lower despite a rush of possible mergers and takeovers including a £41bn mining tie-up. Swiss-based mining giant Xstrata has confirmed an approach to rival Anglo American over a possible merger, but so far has received a lukewarm response from the London-based, but South African
Read moreLondon pre-open: M&A in focus
22nd Jun 2009 07:37
Footsie is expected to open largely flat with investors mulling M&A activity among the blue chips. Swiss-based mining giant Xstrata has confirmed an approach to rival Anglo American over a possible merger, but so far has received a lukewarm response from the London-based, but South African dominat
Read moreAviva sells Aussie arm for £452m
22nd Jun 2009 07:12
Life group Aviva has sold its Australian business to National Australia Bank for £452m, boosting its capital surplus by £400m. Total cash proceeds of from the sale are A$925m (£452m) comprising A$825m cash on completion, a dividend of A$40m and A$60m for a net asset adjustment. Aviva said the sa
Read moreMonday newspaper round-up: Xstrata, Anglo American, Royal Bank of Scotland
22nd Jun 2009 06:14
Anglo American, the mining and natural resources giant, was rehearsing its defence last night against a £41bn merger approach from Xstrata, its Anglo-Swiss rival. Anglo American confirmed a merger proposal from Xstrata but was markedly unenthusiastic, emphasising that the situation "is at a very pr
Read moreLondon close: Carnival floats higher
19th Jun 2009 17:18
The so-called "triple witching" day, when options, index futures and options on index futures all expire on the same day, passed without the high volatility usually associated with the event. If anything it was a quieter day than usual, with broker comment rather than corporate news flow driving t
Read moreLondon afternoon: Footsie riding high
19th Jun 2009 13:58
London's blue chip index is trading at session highs as investors gear up for a strong start on Wall Street. Insurers remain among the top performers after Deutsche Bank upgraded its price targets for a number of major players in the life assurance sector. Aviva, Friends Provident and Standard L
Read moreLondon midday: Footsie advances on triple witching day
19th Jun 2009 12:12
Footsie looks set to finish a disappointing week on a bright note, an outcome of keen interest to options and futures traders as today is a "triple witching" day when options, index futures and options on index futures all expire on the same day. Insurers lead the advance after Deutsche Bank upgra
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