London midday: Footsie up 2% as BoE injects more money
6th Oct 2011 12:07
The Footsie has held onto gains following the Bank of England's surprise move to increase its asset purchase programme by a bigger-than-expected £75bn. In an announcement at midday, the central bank revealed that it has maintained its key Bank Rate at the historically low level of 0.5%, but raised
Read moreLondon close: Greek worries continue as Footsie drops 1%
3rd Oct 2011 16:48
Losses in London were trimmed by the end of trade on Monday after a relatively better start on Wall Street, as US benchmarks fell by just a few points. Nevertheless, concerns over the Greek deficit continued to weigh on sentiment in Europe, with major markets across the continent suffering falls of
Read moreLondon close: Weak finish to volatile week
30th Sep 2011 16:54
Stocks were on the back foot heading into the weekend amid continuing worries over global growth. Data showing consumer confidence has risen for the first time in four months failed to lighten the mood. The index of sentiment remained firmly negative in September at -30, up a point from the previo
Read moreFTSE 100 Movers: Fresnillo bucks mining trend
30th Sep 2011 13:16
Miners are among the fallers after the Chinese Purchasing Managers' Index (CPMI) was unchanged from the previous month at 49.9 in September. A reading below 50 signifies a contraction, so the August reading is bad news for miners, as China is a resource hungry country. However, silver miner Fresnil
Read moreLondon close: Stocks soar as euro talks proceed
27th Sep 2011 16:33
The top share index surged in early dealings and continued heading higher towards the close amid optimism that European leaders will get to grips with the euro crisis. Talks are still ongoing about an expansion of the European Financial Stability Fund, with conflicting signals over whether an agree
Read moreFTSE 100 Movers: Miners bounce back
27th Sep 2011 14:41
Fresnillo was heading north after broker Citi raised its rating on the silver miner to "hold" from "sell". The move was prompted by the firm's unusual price fall lately, in line with a decline in the broader precious metals market. Fresnillo wasn't the only miner on the up; Vedanta, Antofagasta
Read moreBroker snap: Fresnillo oversold, says Citi
27th Sep 2011 13:05
The unusual price fall in Fresnillo lately, in line with a decline in the broader precious metals market, has prompted the broker Citi to raise its rating on the silver miner to "hold" from "sell". "We see the immediate future of FRES as bright because it has a healthy string of greenfield and brow
Read moreLondon midday: Stocks advance on Euro hopes
27th Sep 2011 12:00
Stocks have built on their early morning gains as optimism that some kind of end to the Eurozone crisis is in sight continues. Talks are still ongoing about an expansion of the European Financial Stability Fund, with conflicting signals over whether an agreement is near failing to put investors of
Read moreLondon open: London follows Wall Street higher
27th Sep 2011 08:24
London's leading share index is posting big gains following a strong performance from Wall Street overnight. RBS leads the way as banks continue their strong performance from yesterday, while silver specialist Fresnillo leads the mining sector's recovery. Optimism that European leaders are making
Read moreFirst broker round-up of the morning
27th Sep 2011 08:21
Fresnillo: Citi upgrades to 'hold' from 'sell'. Lonmin: Citi cuts target price 9% to £12.37. Burberrys: Credit Suisse says today, "We still see better risk-reward elsewhere in the space (e.g., Hugo Boss) at current levels." Ricardo: RBS stays at 'buy'. Easy Jet: RBS reiterates 'buy' and 450p t
Read moreLondon close: Financials soar on Eurozone bailout hopes
26th Sep 2011 17:15
In a battle between booming banks and melting miners, the banks emerged on top, as Footsie reversed early losses to finish in the blue. Hopes that Eurozone governments will get their act together and seriously bumnp up the Eurozone bailout fund, while pushing through more severe "haircuts" - reduc
Read moreLondon midday: Banks power FTSE 100 rebound
26th Sep 2011 12:10
Stocks have rebounded strongly from their weak start, with a buoyant performance from the banking sector helping to offset continued weakness in mining stocks. Precious metals stocks in particular are in the firing line as prices for gold and silver continue their downward turn, bucking the usual r
Read moreLondon open: RBS, Barclays and Lloyds shrug off decline
26th Sep 2011 08:31
The top share index has recovered partially after tumbling below the 5,000 point mark on continuing worries over the Eurozone situation. Plans by European policymakers to up the amount of funds set aside to deal with the ongoing problems in Greece have failed to reassure markets. Miners lead the
Read moreLondon close: Markets dive on dismal global outlook
22nd Sep 2011 16:30
Gloomy comments from the Federal Reserve last night followed by even gloomier remarks by leading economists terrified the markets on Thursday, with benchmarks in the UK, Europe and the US suffering falls of between 3% and 5% as of 16:30. The FTSE 100 in London was nearly 5% down by the end of the se
Read moreSector movers: Commodity prices drop, miners unwanted
22nd Sep 2011 14:30
Mining stocks led the sell-off on Thursday as the US Federal Reserve yesterday painted a gloomy picture of the state of the US economy, dampening sentiment across global stock markets. "Information received since the Federal Open Market Committee met in August indicates that economic growth remains
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