London close: Japanese concerns knock Footsie
14th Mar 2011 16:47
London closed near to its low for the day as a decline on Wall Street dragged the market lower later in the day and there were concerns about the possible effects of the Japanese earthquake on financial markets and global economies. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick o
Read moreLondon afternoon: Shares stuck lower as Japan casts shadow
14th Mar 2011 14:57
London's blue chips have turned lower again following falls on Wall Street as traders continue to mull the possible effects of the Japanese earthquake. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggrek
Read moreLondon midday: Blue chips turn lower on volatile day
14th Mar 2011 12:21
London's blue chips have turned lower again as investors await the US markets' reaction to Japan's devastating earthquake. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggreko, which may find its service
Read moreJapan quake could mean higher energy prices for UK
14th Mar 2011 10:06
Friday's devastating earthquake and a second explosion at Japan's Fukushima Dai-ichi nuclear plant may send global gas and electricity prices higher. Analysts at broker Matrix warn that Japan may lose at least 5% of its generation capacity permanently. This will be made up by gas fired power, requi
Read moreLondon open: Aggreko in demand in wake of earthquake
14th Mar 2011 08:47
Mining stocks are shoring up the Footsie but the blue-chip index is still in the red, despite the price of oil ebbing. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggreko, which may find its services c
Read moreLondon close: Rally falls short as Libya casts shadow
22nd Feb 2011 17:00
Strong consumer confidence figures in the US sparked an impressive rally from the top share index this afternoon following earlier gloom over the Libyan turmoil and the higher oil price, but worries re-emerged and the FTSE 100 finished below 6,000. BHP Billiton is one of those that has limped into
Read moreLondon afternoon: Modest rally continues
22nd Feb 2011 14:12
Shares continued to pare the morning's losses over the lunch time trading session, and from a position at the mid-morning stage where only five FTSE 100 constituents were in positive territory, by 2pm that number had grown to around 20. BHP Billiton is one of those that has limped into the black. T
Read moreBroker tips: Thomas Cook, HSBC, Drax
22nd Feb 2011 13:41
Panmure Gordon has downgraded travel firm Thomas Cook as the broker struggles to identify any near-term catalysts to the share price following the recent turmoil in the Middle East. Thomas Cook noted in its first quarter statement that the political unrest in Tunisia and Egypt would have an impact
Read moreLondon midday: FTSE plunges below 6,000 on Libya worries
22nd Feb 2011 12:10
Shares are under pressure today as the Libya crisis pushes up oil prices, though precious metal miners are benefitting from defensive buying. Oil prices are higher again, with Brent crude for April settlement rising past $108 a barrel, not good news for British Airways owner IAG, which is one of to
Read moreBroker snap: Drax powers ahead this winter
22nd Feb 2011 12:09
The ability to respond flexibly to demand created by the colder weather at the end of 2010 was the key driver to power provider Drax's better than expected 2010 results, says financial services firm Matrix. "Despite being strongly contracted, the company has retained the flexibility to benefit fro
Read moreLondon open: FTSE 100 below 6,000 as Libya casts shadow
22nd Feb 2011 08:24
The FTSE 100 is back below 6,000 points as the ongoing turmoil in Lybia continues to jangle traders' nerves. Oil prices are higher again, not good news for British Airways owner IAG, which is one of today's notable fallers. The high gold price as investors seek a safe haven has lifted African Barri
Read moreLondon pre-open: Footsie to go sub-6,000
22nd Feb 2011 07:39
Yesterday's Libya-fuelled sell-off looks set to continue this morning with traders predicting the blue-chip index will open below the 6,000 level at somewhere around 5,980, 35 points below last night's close. Higher oil prices won't worry coal-fired power station operator Drax, however, though the
Read moreSmokin' figures from Drax
22nd Feb 2011 07:12
Earnings from power provider Drax in 2010 were ahead of expectations, thanks to record breaking operational plant performance and the strong forward sales the group enjoyed at the start of the year. "We began the year with a strong hedged position, contracted at higher average margins than for 2009
Read moreTuesday preview: Drax, Informa
21st Feb 2011 15:42
The winter chill will have given a boost to power provider Drax, which brings out full year results on Tuesday. The market has pencilled in a figure of £305.4m for the coal-fired power station owner's pre-tax profits, on turnover of £1,426m. Broker Matrix predicts earnings before interest, tax, dep
Read moreSector movers: Anglo American leads miners lower
18th Feb 2011 15:01
The mining sector is being weighed lower by blue chip Anglo American which is losing nearly 3%. The group is in the red despite reporting that underlying earnings leapt to $4.98bn last year from $2.57bn in 2009 on revenue up 34% to $32.93bn. It's also agreed a 50:50 joint venture with Lafarge to
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