Sector movers: Bearish Goldman fails to dent banks
3rd Dec 2009 12:37
The banking sector has shrugged off a bearish note from Goldman Sachs to post good gains. The broker downgraded the sector to 'neutral' following its recent strong showing, saying that large global retail banks are likely to be the stocks to hold in the sector. Barclays is wanted after the Telegra
Read moreLondon midday: Shares lack direction
3rd Dec 2009 12:11
Banking shares are still marching forward but gains are countered by weakness among miners, 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 of banks today, having downgraded the sector to
Read moreLondon close: Footsie rallies above 5,300
1st Dec 2009 16:14
Strength in the US, a record gold price and fight back by the banks had London at session highs by the close of play. Markets decided that fears about Dubai's debt have been overdone. State-owned Dubai World said it had held "constructive" talks with banks and flagged plans to restructure nearly ha
Read moreLondon afternoon: Triple digit gain for Footsie
1st Dec 2009 14:59
Leading shares kicked on again in the afternoon session after US markets opened firmer, with the number of Footsie constituents showing a loss on the day being countable on the fingers of one hand. Mining stocks are going well on hopes of a sustained recovery in Chinese manufacturing. Silver miner
Read moreFTSE movers: Miners rise
1st Dec 2009 14:03
Mining shares are strong today with both Fresnillo and Xstrata in the top ten Footsie performers. Xstrata has entered into an agreement to sell its 19.9% stake in Indophil Resources NL to Zijin Mining for A$1.28 a share. Zijin has agreed bid terms with Indophil, whose main asset is a 34.23% inter
Read moreLondon close: Footsie bounces back
27th Nov 2009 16:28
Footsie ended the day with good gains as investors' nerves calmed following sharp declines on the back of worries about the financial sector's exposure to a debt default by Dubai World. Shares initially fell, adding to heavy losses yesterday after Dubai stunned financial markets when it announced t
Read moreLondon afternoon: Footsie advancing again
27th Nov 2009 14:11
Footsie has rallied and is now showing modest gains as worries over the Dubai debt situation ease. Royal Bank of Scotland has led teh recovery having calmed nerves by saying it has signed up for the government's asset protection scheme (APS). The bank said in a statement that the agreement was sign
Read moreLondon midday: Footsie still lower
27th Nov 2009 12:41
Footsie is still sitting slightly lower amid continued worries over the Dubai debt situation. But Royal Bank of Scotland is now going well having fallen back in early dealings on fears over the financial sector's exposure to a debt default by Dubai World. RBS calmed nerves by saying it has signed u
Read moreLondon open: Dubai fall-out hits again
27th Nov 2009 08:42
London has opened better than forecast after panic on Asian markets overnight over the problems in Dubai. Japan's Nikkei was down 301 points to 9,081, a new four-month closing low. Banks were bashed on worries about the financial sector's exposure to a debt default by Dubai World. Hong Kong fell ov
Read moreFTSE 100 movers: Miners power forward
23rd Nov 2009 15:16
Miners have soared on a combination of dollar weakness and rumours of a 74.4 tonnes of gold sitting at the $1,200 strike. If the market starts to approach this level, and hits it then the gold price will spike as those contracts would have to be covered, traders say. Other metals have also soare
Read moreSector movers: Miners lead the charge
23rd Nov 2009 11:18
Mining stocks are at the forefront of today's equity advance as metal prices continue rallying. Once again, gold has hit a new record as investors seek shelter from the falling dollar. Copper has reached a 14-month high. Precious metals stocks are also shining, with platinum group Lonmin, silver
Read moreLondon afternoon: Equities drift lower
20th Nov 2009 22:49
Around two thirds of the Footsie's constituents are in the red today as the blue-chip index looks set to finish the week lower than it started it. US bank Morgan Stanley has rained on the parade of package tour operators Thomas Cook and TUI Travel. The bank has cut its rating on both stocks, prompt
Read moreLondon close: Volatile Footsie closes lower
20th Nov 2009 16:34
Footsie ended slightly in the red after a topsy-turvy day which saw UK shares at the mercy of the US dollar. Shares in miner Antofagasta resumed their position near the top of the leaderboard after a brief dip into negative territory that came as commodity prices slipped in line with strength in th
Read moreLondon midday: Holiday firms in the shade
20th Nov 2009 12:11
Leading shares lack direction, with Footsie's early advance turning into a retreat, as early gains on mining stocks are pared. The outlook for package tour operators Thomas Cook and TUI Travel is as miserable as London's weather, according to US bank Morgan Stanley, which has cut its rating on both
Read moreSector movers: SABMiller adds fizz to drinks sector
19th Nov 2009 13:26
The beverages sector is fizzing after SABMiller, the brewer behind such brands as Miller Genuine Draft and Peroni, posted interim profits ahead of expectations. Lager volumes were down by 1% due mainly to weakness in developed markets, but SABMiller managed to offset this by lifting prices. With
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