Broker snap: Housebuilders' rally a 'false dawn'
24th Jul 2009 11:50
KBC Peel Hunt, a long time bear on the housebuilding sector, is once again exhorting its clients to take profits on the housebuilders in the wake of what it regards as "a positive spin" put on housing market figures by property web site Rightmove. "Rightmove has hailed the bottom of the housing mar
Read moreFTSE 250 movers: Housebuilders on top
20th Jul 2009 14:10
Housebuilders dominate the mid-cap index Monday following bright news on the housing market. Mortgage lending leapt by 17% in June to £12.3bn, its highest since December, according to the Council of Mortgage Lenders (CML). The Bank of England said the six major banks approved 51,000 mortgages for
Read moreLondon close: Footsie gives up gains
7th Jul 2009 16:29
Footsie managed to shrug off a poor performance on Wall Street until late in the day but gave up the fight just before the close to finish slightly in the red. Miners led the risers. Xstrata was wanted as rumours resurfaced that Brazilian mining titan Vale is contemplating reviving bid talks with
Read moreLondon afternoon: Prices hold steady at higher levels
7th Jul 2009 14:09
Equity prices stagnated over the lunch time trading session. Footsie remains modestly higher but volumes are low. Miners lead the advance, with the top 6 performers among Footsie constituents all mining stocks, Miner Xstrata is wanted, as rumours resurface that Brazilian mining titan Vale is con
Read moreLondon midday: Shares comes off the top
7th Jul 2009 12:11
Prices are off the top despite expectations of a moderately firmer opening on Wall Street. Earlier shares had been given a lift by the release of the latest British Chambers of Commerce (BCC) survey showed a rebound of confidence levels in the second quarter. Britain may have seen the worst of the
Read moreBroker tips: Miners, Housebuilders, Aegis
6th Jul 2009 13:11
Mining stocks dragged the Footsie lower on Monday morning despite some positive comment from Deutsche Bank. The German bank has upgraded Latin American copper miner Antofagasta from "sell" to "hold" and bumped up the target price from 317p to 527p. Kazakhi copper miner Kazakhmys also gets the upg
Read moreBroker snap: Bovis and Bellway offer best value
6th Jul 2009 13:09
RBS has taken a look at the UK housebuilding sector and reckons Bellway and Bovis Homes offer the best value in the sector after both stocks went into a slump post-April. Royal Bank of Scotland (RBS) has upgraded both stocks to "buy", with Bellway upgraded from "hold" and Bovis from "sell". Ahead
Read moreLondon close: Good gains for FTSE 100
5th Jun 2009 17:00
Footsie finished with good gains Friday as buoyancy in the mining sector and economic optimism from the US cancelled out the effects of continued political uncertainty here. Mining stocks were at the forefront of the advance on the back of strong metal prices and excitement at closer ties between h
Read moreLondon afternoon: Wall Street boost for London
5th Jun 2009 14:22
London's rise has been given extra impetus by expectations of a strong opening on Wall Street in the wake of better than expected US first-time jobless claims. Mining stocks continue to be at the forefront of the advance on the back of strong metal prices and excitement at closer ties between heavy
Read moreLondon midday: Upward trend continues
5th Jun 2009 12:11
Blue-chips shares continue to push ahead, led by minders in the wake of the decision by Rio Tinto to change tack with regards to its fund raising plans. Rio Tinto has capitulated to shareholder pressure and ditched its controversial $19.5bn refinancing deal with state-owned Chinese aluminium produc
Read moreLondon open: Miners buoyant as Rio raises $15bn
5th Jun 2009 08:56
A buoyant mining sector sent Footsie sharply higher in early dealings as investors rejoiced as Rio Tinto launched a $15.2bn rights issue. The cash call follows confirmation this morning that Rio Tinto had scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco. The deal also
Read moreLondon pre-open: Miners to take centre stage
5th Jun 2009 07:38
The mining sector is likely to be in focus in early dealings after Rio Tinto launched a $15.2bn rights issue. Footsie is expected to open up 35 points. Rio Tinto this morning confirmed it had scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco and instead launched a $15.2
Read moreBellway says southern divisions doing better
5th Jun 2009 07:13
Housebuilder Bellway said the southern based divisions have experienced a marginally stronger market and will see higher turnover by the year end than the northern based divisions whose markets still remain fragile. The group said net reservations since 1 February have continued to average 105 per
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 more