London close: Late gains for FTSE 100
8th Feb 2011 16:59
The top share index closed with good gains after a late spurt. It was a see-saw day for miners after China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point to 3%. Mining giant Xstrata started the say well after r
Read moreLondon afternoon: Inmarsat takes flight
8th Feb 2011 14:40
Though miners remain a drag on the index following the Chinese interest rate hike, Footsie struggled back into positive territory over the lunch time session. China raised its key interest rates for the third time since October, with the benchmark one year lending rate hiked by a quarter of a point
Read moreLondon midday: China rate rise hits miners
8th Feb 2011 12:10
Shares are slightly under pressure after China's interest rate rise, but stocks move in both directions after updates. China has raised interest rates for the second time in just over a month as the fast-growing east Asian economy continues battling inflation. Mining giant Xstrata is in the red no
Read moreLondon close: FTSE 100 back at 6,000
2nd Feb 2011 16:39
Strength in the mining sector on the back of higher metals prices and well-received updates drove the FTSE 100 back to 6,000 points. Both factors benefited miner Eurasian National Resources (ENRC). Production matched estimates in the fourth quarter of 2010, while the ferroalloys unit produced a bit
Read moreFTSE 250 movers: Centamin declines amid Egyptian crisis
2nd Feb 2011 15:45
Set-top box maker Pace is racing ahead, surging 8% on Wednesday afternoon, which Centamin is still on shaky ground. Egypt-based miner Centamin is the highest faller as the crisis in the nation escalates. Yesterday, shares rallied after the group issued a reassuring statement over the impact of the
Read moreLondon afternoon: Tobacco giant leads way
2nd Feb 2011 15:07
A limp start on Wall Street isn't helping London, but the leading index remains within reach of 6,000, supported by a strong mining sector and big gains at cigarette maker Imperial Tobacco. Resource plays still dominate the leaderboard. Eurasian National Resources (ENRC) is better on news productio
Read moreLondon midday: Miners underpin FTSE 100 gains
2nd Feb 2011 12:09
Strong gains in the mining sector are helping to keep the top share index close to the 6,000 point mark. Results are also driving shares forward. The best performing miner in the FTSE 100, Eurasian National Resources (ENRC), said production was in line with expectations in the fourth quarter of 201
Read moreLondon open: Miners push Footsie above 6,000
2nd Feb 2011 08:26
Mining stocks are driving London higher in the early going as the price of copper rose to record levels in New York and London, following unexpectedly good US manufacturing figures yesterday. The giants of the mining sector, BHP Billiton and Rio Tinto, are both sporting solid gains, as are Lonmin,
Read moreLondon pre-open: Footsie has 6,000 in its sights
2nd Feb 2011 07:35
After Wall Street's surge yesterday traders are realistically contemplating the Footsie rising above 6,000 again, though it will have to add to expected early gains, as the blue chip index is forecast to open at around 5,980, up 22 points from last night's close. Tobacco company Imperial Tobacco ha
Read moreJD pounces as JJB raises £30m
2nd Feb 2011 07:11
JD Sports has confirmed speculation it has made an offer for struggling rival JJB Sports, though adds discussion are at a very early stage. "There can be no certainty that an offer will be made by JD Sports Fashion for JJB Sports, nor as to the terms on which any offer might be made," it said. "
Read moreJD Sports buys Champion
25th Jan 2011 13:43
Sports fashion retailer JD Sports Fashion has exchanged contracts to acquire Irish rival Champion Sports Holdings. JD Sports is advancing €17.1m to Champion in the form of a secured loan. This will be used to pay off Champion's debt, excluding €2.5m of finance lease commitments. JD Sports says t
Read moreLondon close: Lower finish as US jobs disappoint
7th Jan 2011 16:35
Leading shares were in the red heading into the weekend after a weak jobs report in the US. Monthly nonfarm payrolls revealed just 103,000 jobs were added in December. Much less than economists had hoped for. Back over here, miners were mostly lower as commodity prices struggle. Copper specialists
Read moreLondon afternoon: Footsie still in red
7th Jan 2011 14:58
Leading shares remain in negative territory as a weak jobs report in the US prevents Wall Street from heading higher. The Dow Jones is currently down a couple of points after monthly nonfarm payrolls revealed just 103,000 jobs were added in December. Much less than economists had hoped for. Back o
Read moreBroker tips: Carnival, JD Sports, JKX
7th Jan 2011 13:14
Nomura expects cruise operator Carnival to recover the pricing power lost during the recession caused by the booking curve, and raises its earnings estimates for 2011. The Japanese broker says that Carnival's results during 2010 have reflected this recovery, with net revenue yields at constant curr
Read moreBroker snap: Upgrades at JD after update
7th Jan 2011 12:57
Broker finnCap says that shares in JD Sports remain cheap at a discount to the retail sector, and the stock is worth a 'buy' following a great trading update that beat expectations. The sport-themed fashion chain reported Friday that like-for-like sales over the 5-week Christmas period were up 2.5%
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