London open: Good run continues
23rd Dec 2009 08:49
Footsie has continued its strong run ahead of the Christmas break, though trading is light with news slowing to a trickle. The release of the minutes from the most recent meeting of the Bank of England's Monetary Policy Committee will have the usual suspects poring over the statement searching for
Read moreSector movers: Balfour Beatty builds gains
23rd Dec 2009 08:39
Balfour Beatty helps lift the construction and materials sector higher after the support services contracting firm said it has won a facilities management contract from defence technology outfit QinetiQ. The seven year contract has a base-line value of £15m per annum, and will be supplemented with
Read moreFresnillo tops Goldcorp bid for Canplats
23rd Dec 2009 08:20
Minera Penmont, the joint venture 56% owned by silver miner Fresnillo, has made a bid to snatch Canadian mining company Canplats Resources from bullion producer Goldcorp. Minera is offering C$4.20 in cash plus one share, with a notional value of C$0.20, in a new exploration company for every Canpla
Read moreLondon close: Oils and pharmas shine
22nd Dec 2009 17:09
London equities added to the previous day's gains although a late pull-back ensured that rises were not as extensive as yesterday. Oil stocks and pharmaceuticals led the way higher. Cairn Energy enjoyed another strong day after it announced yesterday that it would start its drilling programme in G
Read moreFTSE 100 movers: Financials push market higher
16th Dec 2009 15:54
Financials and miners have been pushing the FTSE 100 index higher, while investors appear to be deserting the good old solid companies and looking for riskier investments with more potential upside. Rentokil Initial led the way as Deutsche Bank increased its price target for the support services
Read moreLondon close: Losses narrow
15th Dec 2009 16:33
Top shares fought back late afternoon to halve losses, but most financial issues stayed lower, while oil plays also ended friendless. Turmoil in the Greek banking sector since credit ratings agency Fitch downgraded the country's sovereign debt last week continued to hurt. Barclays and HSBC were am
Read moreLondon afternoon: Banks continue to weigh
15th Dec 2009 14:51
London is off its worst levels of the day, but remains deep in the red as finance plays suffer on fears about the strength of European peers. Barclays and HSBC are among the worst performers as Greek rivals slump on worries about their country's budget deficit. Reports, later denied, that Austria'
Read moreLondon midday: Footsie drifts back
15th Dec 2009 12:12
Footsie has drifted slightly lower as banks and miners join British Airways among the heaviest fallers. The airline is in focus amid expectations of a 12-day strike over Christmas. BA said it is mulling "all options" to cope with the planned action by cabin crew over the Christmas period. BA is
Read moreLondon close: Glum faces as stocks slide
8th Dec 2009 16:40
A weak start on Wall Street and serious concerns about Greece's public finances and Dubai's debt restructuring ensured London ended deep in the red Tuesday. Fears over the solvency of Greece reached new levels after Fitch downgraded its outlook on the country by one rating to 'negative'. Fellow rat
Read moreFTSE 100 movers: RBS remains a concern
8th Dec 2009 11:20
It has been a mixed day for banks. Royal Bank of Scotland tops the worst performers and Standard Chartered is also in decline but Lloyds Banking Group is one of the best performers. The prospect of the inclusion a windfall tax on bonuses in tomorrow's pre-budget report is worrying the sector, but
Read moreLondon close: Lower finish for FTSE 100
7th Dec 2009 16:59
Footsie staged a recovery after a poor start early on and edged into positive territory in the afternoon but closed slightly lower. Rumours of a windfall tax in Wednesday's pre-Budget report rattled the banks. Royal Bank of Scotland, Lloyds Banking, Barclays and HSBC fell on suggestions that the Ch
Read moreLondon afternoon: Banks slide on tax fears
7th Dec 2009 14:39
Leading shares recouped some of their losses over the lunchtime trading session but the Footsie remains in negative territory, largely due to the weakness of banks and miners. Rumours of a windfall tax in Wednesday's pre-Budget report has rattled the banks. Royal Bank of Scotland, Lloyds Banking, B
Read moreLondon close: Rate rise fears fuel late slide
4th Dec 2009 17:17
Euphoria over the better than expected US jobless figures proved short-lived as week-end profit taking took hold and miners headed underground. Metal prices weakened in the afternoon session, taking mining stocks with them, as some pundits suggested that with the better than expected jobless figure
Read moreFTSE 100 movers: Banks in demand
3rd Dec 2009 18:06
Barclays was wanted after the Telegraph reported that it is set to award its 22,000 investment bankers pay rises of up to 150%. Lloyds Banking was also higher, as was Royal Bank of Scotland. Market makers initially marked RBS lower on news that that the bank's board is threatening to resign en mas
Read moreLondon close: Miners eclipse banks to send index lower
3rd Dec 2009 16:35
London closed on a low note as a good day for bank shares was offset by dips for the miners and oil groups. Banking shares marched forward despite an assertion by influential US bank Goldman Sachs that commodity prices are set to rise in 2010. Goldman Sachs also seems to be out of step in its view
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