London close: Footsie takes small step back
29th Oct 2010 17:24
The movements of the FTSE 100 index appeared to be directed by a lackadaisical Grand Old Duke of York today, and the blue-chip index finished (more or less) neither up nor down. British Airways was lower even though it swung to a profit in the first half as the airline improved yields and cut costs
Read moreLondon afternoon: Footsie returns to blue
29th Oct 2010 15:15
London has finally pulled itself back into the blue helped by a solid start on Wall Street after GDP numbers disappointed slightly. Over here, GfK NOP's consumer confidence index improved to -19 in October, confounding economists' expectations of a slide to -22 or even lower. The survey was taken b
Read moreChink of light for BP
29th Oct 2010 14:02
The US National Commission examining the events surrounding the Deepwater Horizon oil spillage in the Gulf of Mexico says that the cement used by Halliburton may be a factor in the disaster, thereby taking some of the heat off of BP. The commission claims that Halliburton and BP both knew the ceme
Read moreWeek Ahead: US elections, US & UK QE, BP
29th Oct 2010 13:14
The first week of November is a very busy one for UK corporate activity but, even so, activity may be eclipsed by events in the USA where the Democratic party is expected to get a battering in mid-term elections on Tuesday, while the Federal Open Market Committee of the US Federal Reserve will annou
Read moreLondon midday: Miners pull index lower
29th Oct 2010 11:52
Weak miners and a poor reception to results from British Airways have discouraged buyers generally, despite some encouraging news on the consumer confidence front. GfK NOP's consumer confidence index improved to -19 in October, confounding economists' expectations of a slide to -22 or even lower. T
Read moreLondon open: Slow progress for blue chips
29th Oct 2010 08:42
London has made modest early gains despite a poor session in Asia and unconvincing display on Wall Street overnight. British Airways is lower even though it swung to a profit in the first half as the airline improved yields and cut costs. It made a pre-tax profit of £158m in the six months ended 30
Read moreFriday newspaper round-up: BP, Air tax, Eurozone debt...
29th Oct 2010 06:22
BP and contractor Halliburton were aware the cement used in the well in the Gulf of Mexico was unstable, an official US commission investigating the fatal explosion said. The US company conducted four tests between February and April on the cement slurry that were relevant to the Macondo well, wit
Read moreTuesday newspaper round-up: Mervyn King, KPMG, BP...
26th Oct 2010 06:21
Mervyn King last night called for radical reforms of the "hazardous" banking sector, warning that new global standards were only a "small step" towards a safer financial system, the Times reports. In a speech that will cause deep disquiet in the City of London, the Bank of England Governor denounce
Read moreLondon close: Miners keep Footsie in the blue
25th Oct 2010 17:04
Were it not for the strength of miners today Footsie would undoubtedly have ended in the red, as many share prices experienced a late swoon. Miners were wanted on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adhered to, bring an end
Read moreLondon afternoon: Miners retain most of their gains
25th Oct 2010 14:28
London has lost some of its gains in the early afternoon but it is showing signs of a renewed upturn. Miners remain the best performers on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adhered to, bring an end to so-called currency w
Read moreLondon midday: Banks miss out
25th Oct 2010 12:05
Having got off to a flying start London spent the mid-morning period slowly relinquishing its gains before regaining impetus just before midday. Miners continue to lead the advance on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adh
Read moreLondon open: Currency issues lift miners
25th Oct 2010 08:48
Blue chip rose sharply as the softer dollar lifted commodity prices higher. Most Asian markets did well as the G20 economic powerhouses promised to work together to avoid "competitive devaluation" of currencies. That has been interpreted as a signal for the dollar to slide further, which has encou
Read moreBP offloads four Gulf of Mexico fields
25th Oct 2010 08:17
BP is selling four mature producing deepwater oil and gas fields in the Gulf of Mexico for $650m (£413m) in cash just seven months after agreeing to buy them as part of a wider $7bn deal with Devon Energy. Marubeni Oil has agreed to buy the assets - a 25% interest in the Magnolia oil and gas field,
Read moreTuesday newspaper round-up: Defence review, BP, Apple...
19th Oct 2010 06:32
David Cameron is set to announce that Britain will delay replacing the submarines that can launch Britain's independent nuclear deterrent by between three to five years in a move that significantly cuts capital costs of Trident over the next decade. In an announcement that will be warmly greeted by
Read moreLondon close: Footsie rallies after shaky start
18th Oct 2010 16:48
After a sluggish start to the day, shares closed with good gains following a lively start on Wall Street. Better than expected profits on the back of a decline in provisions for bad loans at Citigroup sparked buying interest. Mining giants BHP Billiton and Rio Tinto have confirmed that their propo
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