London close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreBroker tips: Kingfisher, life assurance stocks, Umeco
2nd Jun 2009 13:30
The market has responded positively to first quarter figures from Kingfisher but broker Charles Stanley reckons the jury is still out on the prospects of the DIY retailer, despite upgrading its recommendation on the stock. 'A further weather related seasonal bounce is unlikely in 2009 and managemen
Read moreBroker snap: Panmure reviews life assurance sector
2nd Jun 2009 12:32
Panmure Gordon has been looking at the life assurance sector with a generally positive eye, though it thinks the time for buying Standard Life has passed for the time being. The broker has downgraded Standard Life from 'buy' to 'hold' in the wake of the share price's significant outperformance of i
Read moreLondon close: Blue chips close lower
28th May 2009 16:51
UK blue chips closed lower despite a bright start on Wall Street with sentiment knocked by poorly received updates from Wolseley and Man Group. Hedge fund manager Man Group was weighed down by disappointing results. "The past financial year saw extraordinary turmoil in financial markets globally wh
Read moreLondon afternoon: Leading shares trim losses
28th May 2009 14:12
Shares staged a fight back over the lunch-time session but Footsie remains in the red ahead of the opening on Wall Street, which is expected to see shares open moderately firmer. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of
Read moreLondon midday: Bears bite Man
28th May 2009 11:56
Stock market bears were out in force again this morning in London after thee overnight shake-out on Wall Street. Shares in hedge fund manager Man Group would be expected to plunge on a day when optimism about the economic recovery of the US is in short supply but the stock is also weighed down by
Read moreLondon close: US sparks Footsie recovery
26th May 2009 16:29
Footsie finished higher Tuesday after a strong performance by US shares, lifted by consumer confidence figures, hauled London's leading share index out of the red. The mining sector summed up the volatility seen on the markets today. Rio Tinto climbed after it said it had agreed a 33% cut in contra
Read moreLondon afternoon: Defensive stocks back in favour
26th May 2009 14:42
Hopes that Wall Street might provide a fillip to UK shares have been dashed as US markets open in a similarly dull fashion to London. Mining stocks and financials are the worst performers while defensive sectors such as tobaccos and supermarkets have returned to favour. Mining giant Rio Tinto is lo
Read moreLondon midday: Equities drift lower
26th May 2009 12:07
It was a dull morning session for London's leading shares, with the market following Asian markets lower after the news broke concerning North Korea's nuclear bomb test. Mining stocks and financials are the worst performers. Mining giant Rio Tinto is lower after it agreed a 33% cut in contract fin
Read moreLondon close: Miners and financials lead the way
19th May 2009 16:31
Strength among financial plays and miners guaranteed London gains Tuesday, although it had looked a close call following a weak start on Wall Street. A near-13% slump in US housing starts in April proved a drag mid-afternoon before US stocks regained their poise and moved higher. Anglo American fi
Read moreLegal & General cuts 560 savings staff
12th May 2009 12:16
Legal & General is to cut up to 560 jobs in its savings division and has started consultations with staff over possible redundancies. Some 300 full-time workers and 260 contractors are likely to be affected by the cull, which is part of a 10% workforce reduction this year flagged up by chief execu
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