London close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
Read moreLondon 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 moreBlackRock interested in Barclays unit
8th Jun 2009 12:32
Barclays has confirmed it is in talks with US firm BlackRock regarding the sale of its fund management arm Barclays Global Investors (BGI). Britain's second-biggest bank, which agreed to sell its iShares business, part of BGI, to private equity firm CVC Capital Partners in April for $4.4bn, said di
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 open: Bank news knocks Footsie
8th Jun 2009 08:40
Banking shares have dominated early trading after news from both Barclays and Lloyds, but investors have reacted cautiously in both instances. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includ
Read moreLondon pre-open: Footsie to start lower
8th Jun 2009 07:40
Banking shares are likely to be in focus Monday morning after updates from both Barclays and Lloyds. Traders expect Footsie to drop 25 points early on. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), whi
Read moreBarclays confirms BlackRock talks
8th Jun 2009 07:09
Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includes its iShares business. Reports over the weekend suggested Barclays is poised to conclude a deal that would see BlackRock buy BGI for £8.1bn, w
Read moreMonday newspaper round-up: Lloyds, Barclays, Ferrexpo
8th Jun 2009 06:17
Lloyds Banking Group is expected to repay about £2.3 billion to the Government this week, becoming the first lender in Europe to return bailout money to the taxpayer. The £2.3bn cheque addressed to the Treasury could not have come at a better time for Gordon Brown. The repayment is being made far s
Read moreSunday newspaper round-up: Barclays and Blackrock mull funds merger
7th Jun 2009 09:53
Barclays is finalising a deal to merge its $1trn (£625bn) fund management arm with BlackRock of the US. Details of the transaction are still being negotiated by the two sides, but it is likely to involve Barclays taking an economic interest in the combined fund management group of as much as 20%,
Read moreComment: Lloyds' merger mystery party
5th Jun 2009 17:13
The Lloyds Banking Group AGM on Friday was no party for directors as shareholders took the opportunity to vent their spleen at the company's hasty takeover of the toxic debt receptacle that is HBOS, with one shareholder at the AGM declaring the acquisition a 'disaster'. Many shareholders bought int
Read moreFriday newspaper round-up: Rio launches $15.2bn rights, ties with BHP
5th Jun 2009 06:15
Rio Tinto launched a deeply-discounted $15.2bn rights issue, scrapped a proposed $19.5bn tie-up with China's Chinalco and struck a joint venture deal with arch rival BHP Billiton in a string of announcements on Friday that will transform the Anglo-Australian mining group's long term future, the FT r
Read moreLondon close: Rio bombshell pulls back Footsie
4th Jun 2009 17:03
Rio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreLondon afternoon: Rio dives on Chinalco rumours
4th Jun 2009 14:27
Disappointment with the Bank of England's decision not to expand its quantitative easing programme prompted a downturn in the market, wiping out the morning's gains. London's blue-chip index is also struggling with the burden of a weak mining sector, which has moved further into the red after rumou
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
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