London close: Stocks rise as debt talks continue in Washington
15th Oct 2013 16:45
Stocks finished at a three-week high on Tuesday on hopes that politicians Stateside can come to an agreement to avert a default with just two days to go before the government hits its borrowing limit. London's FTSE 100 benchmark index finished 41.46 points higher at 6,549; the last time it has clos
Read moreSector movers: Rio Tinto, Anglo American lead miners higher
15th Oct 2013 16:13
London-listed mining stocks were trading higher on Tuesday as risk appetite returned to the markets in hopes that US lawmakers can strike a deal over the debt ceiling. Rio Tinto was a high riser, up 4.2% at 3,214.5p, after enjoying a good third quarter of production, having produced and shipped a
Read moreFTSE 100 movers: Burberry bombs as CEO announces departure plans
15th Oct 2013 14:36
High-end luxury brand Burberry dropped today after the surprise exit of Chief Executive Officer (CEO) Angela Ahrendts and appointment of Chief Creative Officer Christopher Bailey. Ahrendts is to leave the company in mid-2014 and move to Apple to take up a newly created position. The news came as the
Read moreBurberry at three-month low as Bailey replaces Ahrendts as CEO
15th Oct 2013 14:34
Burberry's share price took a battering on Tuesday as investors gave a cool reaction to the surprise exit of long-running Chief Executive Officer (CEO) Angela Ahrendts, who is set to join Apple in a newly created position next year. Chief Creative Officer (CCO) Christopher Bailey, widely seen as on
Read moreLondon midday: Markets jump on signs of progress on Capitol Hill
15th Oct 2013 11:33
Progress on Capitol Hill pushed the UK market to its highest level in three weeks on Tuesday morning as investors showed optimism that lawmakers can strike a deal to avert a dreaded default. The FTSE 100 in London was trading up 0.7% at around 6,560 this morning; the last time it has closed higher
Read moreLondon open: Stocks rise on hopes of US debt ceiling deal
15th Oct 2013 08:19
UK stocks jumped in early trading on Tuesday as investors showed optimism that US politicians can avert a default by agreeing to raise the debt ceiling. The FTSE 100 in London was trading up 0.6% at around 6,550 this morning; the last time it has closed higher was on September 26th when it finished
Read moreLondon pre-open: Strong start expected on FTSE as US hopes grow
15th Oct 2013 07:35
City sources predict the FTSE 100 will open around 35 points higher than yesterday's close of 6,507.65, tracking US stocks higher after they rallied to finish in positive territory on hopes that lawmakers are closing in on a deal to raise the debt ceiling and avert a default. The deal, which has ye
Read moreBailey to replace Ahrendts as Burberry CEO - UPDATE
15th Oct 2013 07:15
Angela Ahrendts, Burberry's Chief Executive Officer (CEO) since 2006, is joining US tech giant Apple next year, leaving Chief Creative Officer (CCO) Christopher Bailey in charge. The news came as the company reported 14% growth in underlying sales in the first half, helped by strong demand from Chi
Read moreThursday broker round-up UPDATE
10th Oct 2013 08:36
Ashmore Group: Canaccord Genuity takes target price from 380p to 400p and retains a hold recommendation. Numis shifts target price from 380p to 390p reiterating its hold recommendation. Ashtead Group: Numis upgrades to add with a target price of 670p. Berkeley Group: Panmure Gordon moves target pr
Read moreLondon close: US budget impasse continues to knock investor sentiment
7th Oct 2013 17:15
Stocks bounced off their lows on Monday but still finished firmly in the red as the US government shutdown extended into its second week with politicians continuing to wrangle over the budget and impending debt ceiling. The FTSE 100 in London finished 16.6 points lower at 6,437.28, rallying in aft
Read moreSector movers: Burberry, M&S drag peers lower
7th Oct 2013 15:39
Personal goods and retail stocks were out of favour on Monday with sector giants Burberry and Marks & Spencer providing a drag. Shares in British luxury brand Burberry were under heavy selling pressure after its Chief Executive Officer Angela Ahrendts told French newspaper Les Echos that the slowdo
Read moreFTSE 100 movers: M&S hit by Credit Suisse comments
7th Oct 2013 15:17
High Street department store Marks & Spencer was trading in the red after Credit Suisse retained its 'underperform' rating, saying that full-year forecasts "look demanding" after a weak first-half. The bank said the shares - trading at a 20 per cent premium to the long-term average - look "overbough
Read moreLondon midday: US budget impasse weighs heavily on stocks
7th Oct 2013 11:22
Markets started the new week on a dull note with the FTSE 100 dropping sharply on Monday morning in light of the ongoing government shutdown Stateside. US stock futures were also heading in the same direction ahead of the opening bell on Wall Street given that an absence of economic data from acros
Read moreBurberry's shares slide on China slowdown
7th Oct 2013 09:47
Burberry's shares fell after the luxury goods maker's Chief Executive Officer Angela Ahrendts said sales were slowing in China due to a weak market. In an interview with French newspaper Les Echos, the head of the British fashion house said the slowdown in China could lengthen in the luxury goods
Read moreLondon open: M&S, Burberry lead FTSE 100 lower as US shutdown persists
7th Oct 2013 08:29
An ongoing government shutdown Stateside continued to weigh on market sentiment on Monday with London's FTSE 100 registering losses in morning trade. US lawmakers failed to reach an agreement on either the budget or the debt-ceiling over the weekend, heightening fears that the US could run out of t
Read more