London midday: Stocks bounce back
9th Aug 2011 12:19
The top share index has staged a strong recovery having plunged below the 5,000 point mark amid continued nervousness over economic growth. The Footsie tumbled below the 4,900 mark in mid-morning trade, with the blue chip index losing over 3% of its value for the second straight session. The sell-
Read moreTuesday newspaper round-up: ENRC, London riots, Chicken Tonight, China accuses the US, Barclays
9th Aug 2011 06:07
One of the FTSE's biggest companies has initiated three external investigations into alleged corruption and wrongdoing within the past four years, The Times has discovered. Eurasian Natural Resources Corporation (ENRC), a £10bn copper miner, is understood to have hired investigators for the most rec
Read moreEnterprise bosses add to stakes
5th Aug 2011 13:59
Four senior board members at pub group Enterprise Inns have been buying stakes in the pub group following the company's trading update. Company chairman Hubert Reid, purchased 55,000 shares bringing his total to 300,000, equal to 0.06% of the group's shares, while chief executive Ted Tuppen bought
Read moreLondon close: Footsie plummets to 5,393
4th Aug 2011 16:29
Hefty losses from large-cap equities dragged the Footsie over 3.43% lower on Thursday, a day after the blue chip index hit its lowest levels in 2011. Moderate falls turned into steep declines as the sell-off accelerated in the afternoon period, on the back of a bad start on Wall Street, which saw th
Read moreWednesday tips round-up: Barclays, Centamin Egypt, Cookson...
3rd Aug 2011 06:46
On the face of it, Barclays' interim figures were reassuring. Strip out the £1 billion insurance mis-selling bill and the absurd distraction caused by own-debt valuation, and the bank produced a respectable 24 per cent improvement in profits. Like all banks, Barclays faces serious headwinds from adv
Read moreBroker snap: Citi labels Barclays as 'buy/medium risk'
2nd Aug 2011 15:55
Citi has rated banking giant Barclays with a buy rating after its first half results revealed that second quarter underlying pre-tax profits came in ahead of expectations. For the three months ended 30 June, the lender reported an underlying pre-tax profit (excluding fair value of own debt and Paym
Read moreSector movers: Metals/mining stocks lower on economic concerns
2nd Aug 2011 13:48
The metals and mining sectors were unwanted on Tuesday on fears over the global economic recovery. Despite the successful passage through the US House of Representatives of the budget deficit reduction bill last night, many have pointed to recent disappointing global manufacturing data and the ongo
Read moreFTSE 100 Movers: Fresnillo sparkles
2nd Aug 2011 12:23
Soaring precious metals prices boosted both profits and the share price at Mexican silver and gold miner Fresnillo. Total revenue rose to $1.056bn (£644.5m) from $605.7m the previous year in the six months to 30 June, while earnings before interest, depreciation and amortisation (EBITDA) rose to $
Read moreLondon midday: Stocks fall back after flat start
2nd Aug 2011 12:16
Stocks are in negative territory now as investors digest a raft of company statements against a backdrop of ongoing worries about the debt situation in the US and in Europe. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in
Read moreUPDATE 2: Barclays cost to income ratio comes in at top end of expectations
2nd Aug 2011 11:46
Barclays is to cut 3,000 jobs this year, blaming a "lacklustre" economic environment for hitting many of the bank's major markets. The bank has already cut 1,400 positions this year, according to chief executive Bob Diamond. The news follows an announcement by HSBC, yersterday, that it will cut
Read moreLondon open: Barclays boosts FTSE 100 but miners suffer
2nd Aug 2011 08:28
The top share index has edged higher amid a mixed reception for today's stream of company results. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in the first stage of a two-step process designed to avoid the country default
Read moreLondon pre-open: Footsie spinning its wheels
2nd Aug 2011 07:36
Stocks are set for an indecisive start, with bears pointing to weaker than expected US manufacturing data and bulls focussing on the successful passage through the US House of Representatives of the budget deficit reduction bill last night. City traders expect the FTSE 100 will open a couple of poi
Read moreUPDATE: Barclays cuts jobs as profits fall
2nd Aug 2011 07:08
Barclays is to cut 3,000 jobs this year, blaming a "lacklustre" economic environment for hitting many of the bank's major markets. The bank has already cut 1,400 positions this year, according to chief executive Bob Diamond. The news follows an announcement by HSBC, yersterday, that it will cut
Read moreTuesday preview: Barclays, Weir, Moneysupermarket.com
1st Aug 2011 16:34
Having had time to digest the results from HSBC, next up on the banking results menu is Barclays. It has been just over three months since the bank updated the market, and last we heard, trading in April had seen a continuation of the trends seen in the first quarter. Broker Charles Stanley forecas
Read moreLondon close: Late recovery not enough, Footsie ends 1% lower
29th Jul 2011 16:33
While the blue chip index still closed with moderate losses, a late partial recovery assured that the Footsie finished firmly above the 5,800 level - after dipping below at in the early afternoon - on reports that US politicians had drawn up a "rough agreement" in regards to the debt ceiling and def
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