London close: Miners drag Footsie down 2.3%
14th Dec 2011 16:42
The FTSE 100 index finished at its lowest levels of the day on Wednesday, closing over 100 points down from Tuesday's close of 5,490. Just one stock in London, Morrison, finished in the blue, while the heavyweight mining sector dominated the downward direction. Markets remain concerned with the ong
Read moreFresnillo and Essar hit by new FTSE requirements
14th Dec 2011 14:31
Companies wanting to be included in the FTSE UK Index Series will have to have to raise their minimum free float requirement from 15% to 25%, FTSE Group has said. After consulting with "market participants from all sectors of the investment community", the index and analytical solutions provider ha
Read moreFTSE 100 Movers: Miners drag index down
14th Dec 2011 14:19
Miners were among the worst performers. Dollar-denominated metals prices were on the decline as the greenback strengthened following the Federal Open Market Committee (FOMC) statement. Fresnillo, Rio Tinto, ENRC and Antofagasta were all registering steep falls. Last night, the FOMC decided, as expe
Read moreLondon midday: Resource stocks pull Footsie to daily lows
14th Dec 2011 12:00
There were just seven risers on London's FTSE 100 at midday, as miners and oil stocks pulled the blue chip index to its daily low of 5,438, a fall of around 1%. In economic news, UK unemployment rose by 128,00 in the three months to October to a reach a total of 2.64m, according to the Office for
Read moreLondon open: Miners follow gold price lower
14th Dec 2011 08:15
Mining stocks are dragging London lower after the US central bank, the Federal Reserve, decided yesterday not to pump more funds into its quantitative easing programme. Silver and gold miner Fresnillo leads the mining sector lower, while fellow precious metals miner Randgold is also in the dog-hous
Read moreLondon close: Footsie drops 1.8% on Eurozone worries
12th Dec 2011 16:46
London's Footsie finished at its lowest levels of the day after Wall Street bourses opened sharply in the red. The Eurozone crisis appeared to be weighing heavily on investors' minds (as usual) following some downbeat comments from Moody's. The FTSE 100 finished 1.8% down at 5,428, some 101 points o
Read moreFTSE 100 Movers: Miners drag footsie lower
12th Dec 2011 15:07
Kazakhstan-focused miner, Eurasian Natural Resources (ENRC), hit the bottom spot on reports that it is said to be examining allegations of corruption at a Kazakh iron ore subsidiary - although denied on Sunday that it was the subject of a formal investigation by Britain's Serious Fraud Office (SFO),
Read moreLondon close: Banks provide a boost after summit
9th Dec 2011 16:45
The EU summit has of course dominated markets today and investors have taken the news reasonably well, with benchmark indices across Europe finishing between 2-3% higher after Eurozone nations (and some others) reached an agreement on enhancing fiscal discipline and strengthening economic policy coo
Read moreFTSE 100 Movers: Banks and miners head north
9th Dec 2011 14:44
The banks - Lloyds, RBS and Barclays - took the top spots, rising around 3% each, as markets digest last night's developments from the EU summit. Mining peers Fresnillo, ENRC, Kazakhmys, Xstrata and Antofagasta were also making gains. EU leaders have failed in a bid to make changes to the treatie
Read moreLondon midday: Footsie extends gains, banks jump
9th Dec 2011 12:02
A strong performance by the banks and the miners lifted the FTSE 100 into positive territory by lunchtime, despite a fall early on, as markets digest last night's developments from the EU summit. Bourses across the Eurozone were all in the blue ahead of the conclusion of the meeting this afternoon.
Read moreFTSE 100 Movers: Wolseley on the rise
6th Dec 2011 13:57
Wolseley, a distributor of plumbing and heating products, hit the top spot after reporting that it has seen like-for-like revenue growth of 5% in the three months to the end of October, compared to the same period of 2010. Total revenues were £3,641m. On a like-for-like basis Wolseley's biggest mar
Read moreLondon open: Flat start after S&P warning
6th Dec 2011 08:23
UK stocks opened flat on Tuesday morning as yesterday's optimism surrounding the key Merkel-Sarkozy meeting and an upcoming EU summit was outweighed by some worrying comments from Standard & Poor's (S&P). S&P WARNS OF MASS EUROZONE DOWNGRADE Reports of a impending credit rating agency action on th
Read moreFresnillo adds $300m interim dividend
6th Dec 2011 07:06
FTSE100 miner Fresnillo said it will pay a second interim dividend of $300m after the firm's cash pile was boosted by metal prices in 2011. The pay out, equivalent to 41.85c per share, will be made on 30 December 2011 to shareholders on the register on 16 December. The firm said it has decided on
Read moreLondon midday: Footsie nudges higher despite poor data
1st Dec 2011 12:02
UK stocks have jumped into positive territory after European bond auctions saw strong demand, but gains are likely to be limited by a string of poor manufacturing data out this morning. Investors will still be digesting the news of a co-ordinated intervention by major central banks to provide cheap
Read moreFTSE 100 movers: Miners recover, Vedanta tops the risers
24th Nov 2011 13:41
With metals prices recovering on Thursday after yesterday's falls - on the back of ongoing worries in the Eurozone and some disappointing Chinese manufacturing data - the miners were in demand. Vedanta Resources, Fresnillo, Kazakhmys and Xstrata were all performing well. The sector was making an av
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