London close: Footsie in full retreat
10th Mar 2011 16:57
Blue chips took a beating as investors focused on weak economic data from China and a downgrade for Spanish debt, rather than the Bank of England decision to keep its key lending rate at 0.5%. China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shut
Read moreFTSE 100 movers: Chinese trade deficit knocks miners
10th Mar 2011 15:18
News of China's trade deficit in February has knocked miners today. Fresnillo and ENRC are down the most in the sector. Concerns that ARM will be hit by poor sales of non-Apple tablet computers has knocked the share price. That part of the market accounts for less than 3% of ARM's revenues but i
Read moreLondon afternoon: Drugs firms provide some cheer
10th Mar 2011 14:47
Investors are finding plenty of reasons to be fearful but at least the Bank of England has stuck to the script and held its key lending rate at 0.5%. Otherwise, weak economic data from China and a downgrade for Spanish debt has put the situation in Libya into the shade today. China posted a trad
Read moreWednesday tips round-up: Provident Financial, GKN, Fresnillo...
2nd Mar 2011 06:43
Long-term sceptics of doorstep lender Provident Financial say the big concern is Provident's capital position. The company again refused to give a figure for its surplus cash position - the concern being that it wouldn't be great news and could be as low as £20m rather than £50m or £60m that is ofte
Read moreLondon close: Shares in late dive as Mideast worries resurface
1st Mar 2011 16:43
The spectre of higher oil prices sent a chill down traders' spines late in the afternoon, sending shares plummeting into the red. The turmoil in the Arab World is behind the spike in crude, with a barrel for April delivery rallying towards $100 in New York. Worries over the possibility of protests
Read moreLondon afternoon: Hard going for Footsie
1st Mar 2011 14:53
It's proving a struggle in London with not long to go until the close, as Wall Street fails to inject much excitement and miners either see gains trimmed or disappear completely. Aerospace and vehicles engineer GKN has few friends. It bounced back into the black last year as all divisions bar aeros
Read moreFTSE 100 movers: Capita rises on Zurich talks
1st Mar 2011 13:39
Capita is the best performer in the footsie after the outsourcer revealed that it is in talks with insurer Zurich about performing some administrative tasks. The talks cover the UK and as well as some of Zurich's European administrative operations. Mexican miner Fresnillo is investing $800m in it
Read moreLondon midday: FTSE 100 gives up gains
1st Mar 2011 12:07
The top share index is flat after giving up early gains, while company updates in the FTSE 250 have sparked big moves in both directions. Capita is the best performer in the FTSE 100 after the outsourcing group said it was in talks with Zurich about performing some administrative tasks for the ins
Read moreLondon open: Miners lift Footsie
1st Mar 2011 08:50
Overnight gains on Wall Street and an improvement in Asia this morning have propelled London higher first thing Tuesday. Copper miners Antofagasta and Kazakhmys are the best performers so far. CD and computer games retailer HMV has issued another profits warning and begun talks with its banks abou
Read moreLondon pre-open: Footsie to retake 6,000
1st Mar 2011 07:36
Overnight gains on Wall Street and an improvement in Asia this morning look set to propel London higher first thing Tuesday. News that billionaire investor Warren Buffett is on the lookout for major acquisitions helped push the Dow Jones up 95 points yesterday. The FTSE 100 is expected to react
Read moreFresnillo profits double to $1bn
1st Mar 2011 07:10
Record gold and silver production coupled with soaring metal prices more than doubled Mexican miner Fresnillo's profits last year to over $1bn. "Record levels of silver and gold production, the start-up of a new mine, and substantial progress at development and exploration sites attest to the group
Read moreFTSE 100 movers: Miners lead the fall
23rd Feb 2011 14:20
Declining metals prices have pushed Antofagasta, Xstrata and Fresnillo lower. Consumer packaging giant Rexam has been hit by profit-taking even though it grew underlying profit by a bigger than expected 45% in 2010 and expects further progress this year. Profit before tax and exceptional items jum
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 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 close: Shares fall as Libya crisis intensifies
21st Feb 2011 16:53
The top share index was nursing big losses at trading's close as worries over the turmoil in Libya sent the oil price soaring and continued high usage of the European Central Bank's marginal lending facility stoked nervousness over banks. Banks are granted the right to seek overnight loans from th
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