London close: FTSE 100 back at 6,000
2nd Feb 2011 16:39
Strength in the mining sector on the back of higher metals prices and well-received updates drove the FTSE 100 back to 6,000 points. Both factors benefited miner Eurasian National Resources (ENRC). Production matched estimates in the fourth quarter of 2010, while the ferroalloys unit produced a bit
Read moreLondon afternoon: Tobacco giant leads way
2nd Feb 2011 15:07
A limp start on Wall Street isn't helping London, but the leading index remains within reach of 6,000, supported by a strong mining sector and big gains at cigarette maker Imperial Tobacco. Resource plays still dominate the leaderboard. Eurasian National Resources (ENRC) is better on news productio
Read moreLondon midday: Miners underpin FTSE 100 gains
2nd Feb 2011 12:09
Strong gains in the mining sector are helping to keep the top share index close to the 6,000 point mark. Results are also driving shares forward. The best performing miner in the FTSE 100, Eurasian National Resources (ENRC), said production was in line with expectations in the fourth quarter of 201
Read moreLondon open: Miners push Footsie above 6,000
2nd Feb 2011 08:26
Mining stocks are driving London higher in the early going as the price of copper rose to record levels in New York and London, following unexpectedly good US manufacturing figures yesterday. The giants of the mining sector, BHP Billiton and Rio Tinto, are both sporting solid gains, as are Lonmin,
Read moreLondon close: FTSE 100 soars as Egypt worries ease
1st Feb 2011 16:51
Well-received company updates, strong economic figures here and elsewhere and an easing of worries related to the situation in Egypt helped UK shares to strong gains. Miners led the advance, after strong growth in manufacturing in commodity hungry China in January. The UK, eurozone and US also had
Read moreLondon afternoon: Miners and techs in demand
1st Feb 2011 14:15
Shares added to the morning's gains over the lunchtime session, buoyed by the prospect of a firm start on Wall Street. Miners lead the advance, after strong growth in Chinese manufacturing in January, though technology stocks are also in demand. Mining giant Xstrata produced more coking coal, sem
Read moreLondon close: Stocks fall as nervousness sets in
28th Jan 2011 16:51
Shares were nursing big losses by the end of the day as more gloomy economic figures stoked nervousness. Consumer stocks were under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis h
Read moreSector movers: Miners unwanted as metal prices fall
28th Jan 2011 16:15
With the price of the most actively traded gold futures contract hitting its lowest level since 4 October yesterday there is little enthusiasm for the miners. Silver prices are also lower sending shares in precious metals miners Fresnillo and African Barrick Gold southwards. Shares in New World Res
Read moreLondon afternoon: Confidence blow for equities
28th Jan 2011 14:50
Leading shares are lower, with consumer stocks under the cosh after UK consumer confidence in January slumped in January, as the VAT rise kicked in. Insipid weekly trading figures from department store group John Lewis have not helped sentiment. The GfK NOP Consumer Confidence Index dropped eight p
Read moreFTSE 100 movers: Bumper contract for Inmarsat
28th Jan 2011 14:09
Satellite operator Inmarsat is the best performer after it gained a contract worth $115m a year. Inmarsat has commenced phase 2 of its agreement with LightSquared which has led to an immediate payment to Inmarsat of $20.1m. The money is paid quarterly and the initial payment is a partial quarterly
Read moreLondon midday: Footsie stabilises at lower level
28th Jan 2011 12:19
London fell sharply in early dealings on the back of weak overseas markets but it has spent most of the day around the 5,920 mark. S&P's decision to cut its credit rating for Japan and some poor company results hurt the Nikkei in Tokyo on Friday and this has spilled over into London. The market i
Read moreLondon afternoon: Stocks edge higher
27th Jan 2011 14:23
Footsie remains marginally in positive territory after trading sideways over the lunchtime session, with the downgrade of Japan's credit weighting by ratings agency Standard & Poors continuing to weigh on sentiment. Mining stocks are going well, however, after the US Federal Reserve indicated yeste
Read moreFTSE 100 movers: Mining sector boosted by Citi note
27th Jan 2011 13:20
Mining shares are rising today with Fresnillo the biggest mover after Citigroup published a positive note on the sector. Randgold Resources was upgraded from neutral to overweight by HSBC. Satellite broadcaster BSkyB reported a strong rise in profits in the six months to December 2010. Pre-tax p
Read moreLondon close: China concerns sink Footsie
20th Jan 2011 16:31
Blue chips closed down more than 100 points as hefty losses in the mining sector dragged the whole index down. The index fell below 5,900 points for the first time this year as strong growth in China stoked speculation of an interest rate rise to cool the economy and cap inflation. Miners are heav
Read moreSector movers: Mining shares dive
20th Jan 2011 16:09
The mining sector is having a bad day as a potential rate hike in China plays on investors' minds. The Chinese economy grew at a higher-than-expected rate in the fourth quarter which could see the country raise interest rates to curb rising inflation, and in turn, reduce the demand for commodities.
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