London close: Modest gains as US struggles
9th Jul 2009 16:33
Equities held onto gains despite a lacklustre final session as Wall St struggled to make headway. Mining stocks continue to dominate the list of risers. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Rand
Read moreLondon afternoon: Rally gathers pace
9th Jul 2009 14:46
Equities pushed higher over the lunch-time session, boosted by expectations of a firm start on Wall Street. Mining stocks continue to dominate the list of risers. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold min
Read moreLondon midday: Mining stocks in the driving seat
9th Jul 2009 12:17
Mining stocks are behind the wheel once again and today they are driving the market higher. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Randgold Resources to "hold" from "buy". Elsewhere in the sector An
Read moreLondon open: Miners provide early boost
9th Jul 2009 08:33
Miners are giving London's blue chips a lift in early dealings ahead of the Bank of England's decision on interest rates and the quantitative easing programme later today. Fresnillo is the best performer, up more than 5%, closely followed by Kazakhmys, Anglo American, Vedanta Resources, Antofagasta
Read moreLondon pre-open: London gets pep from Wall St. rally
9th Jul 2009 07:44
The late rally yesterday on Wall Street has put traders in a positive frame of mind ahead of the Bank of England's decision today on interest rates and the quantitative easing programme. City sources predict the FTSE 100 will open around 21 points up from the previous close of 4,140. Fund manager
Read moreFUM at Man dip as investors withdraw funds
9th Jul 2009 07:02
Fund manager Man Group reported a slight dip in assets under management in the first quarter as customers withdraw funds, but said it is well placed to grow market share. Funds under Management (FUM) at 30 June stood at $43.3bn compared with $44bn announced at end May (31 March: $46.8bn) Private i
Read moreThursday preview: BoE rate decision, AB Foods, Man Group
8th Jul 2009 17:52
The Bank of England's Monetary Policy Committee (MPC) announces its interest rate decision on Thursday. The decision itself is likely to prove a non-event with the MPC unanimously expected to keep the Bank's key lending rate unchanged, but there may be an update on the quantitative easing (QE) progr
Read moreTuesday newspaper round-up: Key plank of bank reform may be delayed
7th Jul 2009 06:16
The centrepiece of the Government's plan to overhaul financial regulation has been delayed, perhaps until after the election, it has emerged, the Telegraph writes. The long-awaited White Paper on financial regulation, due to be published on Wednesday, will offer no firm proposals on how authorities
Read moreLondon close: Footsie adds 2%
1st Jul 2009 16:34
Miners were rampant Wednesday on stronger commodity prices, leaving the sector heavyweights dominating the blue chip index. There was healthy demand for gold on the metal markets, while copper also improved. The red metal headed higher following strong Chinese manufacturing data, while decreasing s
Read moreFTSE 100 movers: Miners prove popular
1st Jul 2009 15:37
Miners are hot property midweek as metal prices rally. Vedanta Resources, Eurasian Natural Resources, Antofagasta, Kazakhmys and Xstrata hog the top spots as gold jumped over $13 an ounce and copper improved. The red metal headed higher following strong Chinese manufacturing data, while decreasing
Read morePaddy Power non-exec trims stake
19th Jun 2009 17:30
Tom Grace, senior independent director of Paddy Power, has cut his stake in the Irish bookie, which has seen a rally in the share price since February. Grace, a former Irish rugby international and the treasurer of the Irish Rugby Football Union, sold €165,000 worth at €10 per share. Grace joined t
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 moreUpdate: Man slides after profit slump
28th May 2009 13:35
Hedge fund manager Man Group slumped over 10% at one point today as troubles in the global financial markets in the past year dragged on profits. Funds under management at 31 March came in at $46.8bn against $74.6bn last year. The figure was $0.9bn lower than the trading update it announced in Marc
Read moreSector movers: Tate and Lyle fails to sweeten food sector
28th May 2009 13:27
Tate and Lyle is among the companies dragging the food producers sector into the red. The sugar and sweetener firm posted a sharp fall in profits after facing impairment charges and tough trading conditions. Profit before tax in the year to 31 March fell to £113m from £182m the previous year even
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