London afternoon: Utilities in demand
24th Jun 2010 14:23
Leading shares continued to pare losses over the lunch time session and though the Footsie remains in negative territory, much of that us due to the weakness of mining stocks. ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrataare the big losers in the sector as concerns about Europe's debt crisis resu
Read moreLondon midday: Stocks off the bottom
24th Jun 2010 12:06
Leading stocks are off their lowest levels but the Footsie remains in the red with little hope of a boost in sentiment from Wall Street, where US stocks are expected to open moderately lower. Mining stocks are out of favour after an initially bright start. Early enthusiasm for miners was engendere
Read moreMARKET TALK: Mining Stocks Attractive On Earnings - Ambrian
24th Jun 2010 11:10
1010 GMT [Dow Jones] The change in Australian leadership might be a small positive but is not the reason Ambrian recommends buying mining shares, it says. The brokerage says: "We recommend buying the miners because we believe the sector offers the best earnings (and dividend) growth on the London St
Read moreLondon open: Stocks in the red
24th Jun 2010 08:49
Having posted quick gains at the start, London's top stocks have reversed into the red. Miners are the main instigators for the decline with 9 out of the top ten fallers from the sector. Kazakhmys, Rio Tinto, Eurasian Natural Resources and Fresnillo are the biggest decliners so far. BP said the lo
Read moreLondon close: US housing data hits shares
23rd Jun 2010 17:03
Disappointing housing data from the US endured that London's leading share index finished firmly in the red. Shares were already sluggish, but turned sharply lower after new home sales in the US dropped 32.7% in May to 300,000 annual rate, the lowest level since recordkeeping began. In the mining
Read moreLondon afternoon: Stocks dip in quiet trading
23rd Jun 2010 14:24
London had an up and down lunch time session with the Footsie ending the period more or less where it started it, in the red. Trading is a bit sluggish, however, and the suspicion is that traders are more interested in this afternoon's crunch World Cup match between Slovenia and England than in th
Read moreFTSE 100 movers: Banks move higher
23rd Jun 2010 14:13
The banks are rising again today even though they were hit by a new tax yesterday. Royal Bank of Scotland and Lloyds are both higher. BP is also heading higher now that Bob Dudley is taking control of the day-to-day handling of the Gulf of Mexico oil leak crisis from chief executive Tony Hayward.
Read moreMARKET TALK: Miners Rise As Australian PM Reportedly Quits
23rd Jun 2010 13:25
1225 GMT [Dow Jones] Miners are on the rise in London after Sky TV reports that the Australian Prime Minister has agreed to resign from his post. Traders note that miners with links to the region are rallying hard. BHP Billiton is +0.6% and Rio Tinto is +0.8%. Furthermore, the FTSE 350 mining sector
Read moreLondon close: Lower finish after budget
22nd Jun 2010 16:40
The budget did little to change the overall direction of the leading share index, which fell in early dealings and remained stuck in the red, though there was movement in specific sectors. A widely expected rise in Capital Gains Tax (CGT) was implemented, with higher rate payers to pay 28% from mid
Read moreSector movers: Supermarkets jump after budget
22nd Jun 2010 15:24
Supermarkets are among the best performing stocks today following Chancellor George Osborne's announcement that VAT will rise to 20% from 17.5%. The measure could squeeze supermarkets' profits by forcing consumers to cut back on expenditure, but the rise will not come into effect until January 4 a
Read moreLondon afternoon: Market takes tax hikes on chin
22nd Jun 2010 14:17
Footsie is still in the red after chancellor George Osborne's first Budget, which contained a huge raft of tax and benefit changes, most of which will raise revenue for the government. VAT is going up from 17.5% to 20%, capital gains tax is rising to a flat rate of 28% while the banks and building
Read moreLondon midday: Budget casts shadow over Footsie
22nd Jun 2010 12:04
Footsie is lower ahead of today's emergency Budget with markets uneasy given the tough rhetoric beforehand from chancellor George Osborne. The sentiment boost enjoyed yesterday following the announcement that China is to stop pegging its currency to the US dollar has worn off, as can be seen by the
Read moreLondon open: Lower ahead of Budget
22nd Jun 2010 08:46
Footsie has opened lower ahead of the coalition government's eagerly awaited emergency budget, which will be revealed around lunchtime. Chancellor George Osborne has been vocal about making Britain competitive by cutting corporation tax so that big businesses find it worthwhile to come to the coun
Read moreFTSE 100 movers: Miners move higher
18th Jun 2010 15:19
Footsie has edged higher with mining companies leading the push higher. Miners Fresnillo, Lonmin and Randgold Resources are all higher. BT is lower due to worries about a potential strike. The Communication Workers Union wants BT to increase its 2% pay offer. UBS has cut its ratings for outso
Read moreLondon close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
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