London pre-open: FTSE to track US stocks lower
1st Mar 2013 07:36
City sources predict the FTSE 100 will open down 20 points from yesterday's close of 6,361, tracking losses seen in the US in late trading last night. The decline came after it became clear the automatic budget cuts of $85bn were likely to come into play on Friday after neither a Republican nor a
Read more'Glenstrata' merger deadline to be pushed back again
1st Mar 2013 07:02
The multi-billion dollar merger of mining giants Glencore and Xstrata is now not expected to be completed before the current deadline, the companies revealed on Friday. The long-stop date for the 'Glenstrata' tie-up, valued at $33bn, has already been pushed back two times as the firms await the app
Read moreGlencore is said to build stake in Ferrous Resources - Bloomberg alleges
27th Feb 2013 11:28
FTSE 100-listed integrated commodities producer Glencore International has reportedly purchased a stake in Ferrous Resources and is considering increasing its holding further, a news report published by Bloomberg alleged on Wednesday, citing "people with knowledge of the matter" as its sources. Acc
Read moreLondon close: Markets volatile after mixed news on Italian election
25th Feb 2013 17:11
The FTSE 100 saw a volatile end to the trading session on Monday as a number of conflicting news reports emerged from the Italian exit polls. Milan's FTSE MIB index gained as much as 4.0% earlier in the day after it was rumoured that centre-left Pier Luigi Bersani could win a majority in both the l
Read moreLondon close: Stocks gain as BoE divided on QE
20th Feb 2013 16:40
Gains were trimmed by the close of trade on Wednesday as heavy falls in the insurance and mining sectors partially offset earlier optimism about further stimulus from the Bank of England (BoE). RSA Insurance was leading the fallers on the FTSE 100 after a surprise cut to its dividend, while preciou
Read moreSector movers: Insurers and miners take a hit
20th Feb 2013 15:21
Insurance and resources stocks were taking a hit on Wednesday with some heavy falls from RSA weighing on the insurance sector and falling metals prices dampening the mining category. Full-year results from RSA came in broadly in line with analysts' estimates, but a 33% reduction in the dividend sur
Read moreFTSE 100 movers: RSA dives after firm unveils dividend cut
20th Feb 2013 15:13
Full-year results from RSA Insurance were largely in line with estimates, with extreme wet weather in the UK and earthquakes in Italy contributing to a 5.9 per cent fall in operating profit. However, shares tanked after the firm unveiled a 33 per cent cut in its annual dividend due to the likelihood
Read moreGlencore denied chance to gain full ownership of Kazzinc
14th Feb 2013 13:34
Samruk-Kazyna, a wealth fund owned by Kazakhstan, revealed Thursday that it paid 1.65bn dollars for its newly acquired 29.8 per cent stake in Kazzinc, a zinc producer controlled by commodities giant Glencore. The transaction means that Glencore has been unable to proceed with its intention to gain
Read moreFTSE 100 movers: Tullow Oil rises on strong set of results
13th Feb 2013 15:50
Oil and gas group Tullow rose strongly today after posting a four per cent rise in annual pre-tax profits on the back for strong sales and output. Pre-tax profits in 2012 totalled 1.11bn dollars, ahead of analysts' expectations. Irish building materials group CRH was one of the best performers on
Read moreLondon open: Stocks open lower ahead of inflation report
13th Feb 2013 08:27
UK stocks opened moderately lower ahead of the Bank of England's (BoE's) inflation report due out at 10:30, as well as a number of important economic indicators elsewhere. "European stock markets are largely mixed Wednesday, staying in a tight range as traders tread carefully ahead of the G-20 meet
Read moreWednesday tips round-up: Glencore, ICAP
13th Feb 2013 06:46
It has been a bad time for the big beasts in mining since Glencore and Xstrata started their attempt to merge a year ago. RIP Tom Albanese, forced to quit as chief executive of Rio Tinto after massive writedowns. The global mining industry was never prone to high-level defenestrations, but many of t
Read moreLondon close: Barclays leads stocks higher as risk appetite increases
12th Feb 2013 17:00
Strong gains in the banking sector helped push the FTSE 100 one per cent higher on Tuesday afternoon, as markets welcomed news of a turnaround plan at UK lender Barclays. "European stock markets picked up some pace in Tuesday's session as traders upped their exposure to risk following recent weakne
Read moreFTSE 100 movers: Barclays leaps after results
12th Feb 2013 15:16
UK banking group Barclays was performing well today after releasing the details of its strategic review, which includes 3,700 jobs cuts. Meanwhile, the company said that adjusted profits before tax grew 26% to £7.05bn in 2012, helped by a 46% improvement in Corporate and Investment Banking and 52%
Read moreLondon midday: Banks pull Footsie into positive territory
12th Feb 2013 11:47
Stocks had pulled into positive territory by Tuesday lunchtime helped by strength in the banking sector as full-year results and the outcome of a strategic review at Barclays were well-received by the markets. Providing some support this morning was the news that credit ratings agency Standard & Po
Read moreLondon open: Stocks flat despite banking strength
12th Feb 2013 08:28
UK stocks opened broadly flat on Tuesday morning ahead of some UK inflation data, with markets pausing for breath after a strong rise in the year to date. The FTSE 100 had a subdued day yesterday on the back of a lack of economic news and low trading volumes, partly owing to the closure of Asian ma
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