London midday: Rebound falters as stocks pare gains after weak economic data
11th Mar 2015 11:57
London's stocks rose on Wednesday after plunging to a seven-week low, though any hopes for a full reversal of the prior day's sell-off were shattered by gloomy data from China and weak production figures from the UK. London's FTSE 100 was up just 0.08% at 6,708.24 by midday, having quickly erased ga
Read moreBroker tips: Tullow Oil, Smith & Nephew, Johnson Matthey, Cairn Energy
11th Mar 2015 11:33
Westhouse Securities has maintained a 'buy' recommendation on Tullow after the oil producer and explorer delivered a positive update on its appraisal programme in Kenya. "Tullow is now trading at an unprecedented 36% discount to our core net asset value [forecast] despite having high margin producti
Read moreGrowth is "exhausted" at Johnson Matthey, says Exane BNP Paribas
11th Mar 2015 10:01
Exane BNP Paribas sees lower medium-term structural growth and growing risks at Johnson Matthey, as it lowered its stance on the chemicals outfit from 'outperform' to 'neutral'. The broker, which cut its target price by 7% to 3,300p, said that growth was "exhausted" at the company, which specialises
Read moreLondon pre-open: Flat start expected after PBoC rate cut, investors await data
2nd Mar 2015 07:39
UK stocks were expected to open broadly flat on Monday ahead of a raft of economic data, with investors continuing to act cautiously with markets near all-time highs. City sources predict the FTSE 100 will open a few points lower than Friday's close of 6,946.66. The index set a new intraday record
Read moreJohnson Matthey completes $75m acquisition of Clarinet
2nd Mar 2015 07:14
Sustainable technology company Johnson Matthey has completed its acquisition of battery materials business Clarinet, as of 28 February. The transaction was first announced on 29 October 2014 and totalled $75m. Chief executive Robert MacLeod commented: "The further strengthening of our battery techn
Read moreFTSE 100 movers: Experian boosted by new growth strategy, Anglo disappoints with 2015 guidance
28th Jan 2015 13:35
Credit-checking firm Experian was a high riser after unveiling an unexpected $600m share buyback and outlining plans to "deliver annual average growth in organic revenue in the mid-single digit range". The company also said it has the potential for "strong growth" in earnings per share. Copper miner
Read moreLondon midday: Stocks erase gains as Greek fears rattle markets
28th Jan 2015 11:47
After a positive start, UK stocks had dropped into the red by Wednesday lunchtime with nerves surrounding Greek politics dampening sentiment, as investors awaited a policy decision later on by the US central bank. London's FTSE 100 was down 0.2% at 6,797 by midday, pulling back after reaching an int
Read moreLondon open: UK stocks rise ahead of FOMC meeting
28th Jan 2015 08:26
Strong results from US blue chips Apple and Yahoo after the closing bell on Wall Street led to a higher open in London on Wednesday, as investors took an optimistic approach ahead of the Federal Reserve meeting. The FTSE 100 was up 0.2% at 6,827 in early deals. US markets finished with sharp losses
Read moreLondon pre-open: Strong start expected after Apple and Yahoo impress
28th Jan 2015 07:01
A strong showing by US tech giant Apple and internet titan Yahoo after the closing bell on Wall Street is expected to filter into a positive open in London on Wednesday. City sources expect the FTSE 100 to open 50 points higher than Tuesday's close of 6,811.61. Apple's shares jumped after the close
Read moreLondon close: Oil price slide fuels fall in equities as rouble tumbles
15th Dec 2014 16:45
Oil prices embarked on fresh falls on Monday, dragging the London market down with them. The price of a barrel of US light crude had dropped about 3.7% to $57.8 towards the end of the trading session while a barrel of Brent crude fell just under 3% to $61.85. The falls fueled a 117.91-point fall in
Read moreFTSE 100 movers: Miners sink while oil companies recover slightly
15th Dec 2014 14:48
Anglo-Australian miner BHP Billiton dipped following a downgrade at RBC Capital Markets to 'underperform' from 'sector-perform'. Other mining companies, including Fresnillo, Randgold Resources and Glencore, were also hit by a forecast of an extended period of low iron ore prices, due to over-supply
Read moreLondon midday: Stocks steady ahead of US data
15th Dec 2014 11:15
UK stocks were holding higher ahead of a week full of potential risk events. Significantly, on Sunday Bloomberg reported that Libya was forced to declare "force majeure" at two of its ports, Es Sider and Ras Lanuf, which have a combined capacity to export 560,000 barrels of oil per day. Somewhat ir
Read moreLondon open: Stocks bounce back with oil after Libyan port closures
15th Dec 2014 08:19
After an initial drop the FTSE 100 Index recovered to trade slightly in the black, led by oil companies' shares. Over the weekend the United Arab Emirates' energy minister, Suhail Al-Mazrouei, said the Organisation for Petroleum Exporting Countries (OPEC) would be willing to withstand a drop in the
Read moreJohnson Matthey sells gold and silver refining business for £118m
15th Dec 2014 07:10
Chemical firm Johnson Matthey has agreed to sell its gold and silver refining business to Asahi Holdings for £118m in cash. The business, based in the US and Canada, refines primary and secondary gold and silver materials and reported sales of £44m in the financial year ended 31 March. "The divestm
Read moreSector movers: Chemical stocks rise as broker upgrade lifts Croda
1st Dec 2014 15:15
The chemical sector was the best-performing category in London on Monday with Yorkshire-based Croda International providing a lift after an upgrade from Deutsche Bank. Deutsche Bank lifted its rating for Croda from 'hold' to 'buy' and hiked its target price from 2,350p to 2,800p, causing shares to a
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