FTSE 100 movers: Index hits year-high
12th Oct 2009 11:31
Footsie hit a new 12-month high as buyers continue to shrug off concerns about the recent market rally being too far, too fast. Insurers are the best performers led by Old Mutual. Platinum specialist Johnson Matthey, another South African-focused group, is also going well. Lloyds Banking is the w
Read moreLondon close: Footsie slides with Wall Street
1st Oct 2009 16:28
Footsie closed sharply lower after the US reacted badly to worse than expected dole claims. The Dow is now down more than 100 points with investors nervous ahead of the big monthly non-farm payrolls figure tomorrow. BAE struggled after the Serious Fraud Office asked the Attorney General if it can p
Read moreLondon afternoon: Blue chips drifting along
1st Oct 2009 14:05
Footsie has recovered a little ahead of the US open, but the index is still in the red with weapons group BAE Systems especially under the cosh. Early indications are for the Dow to drop between 15-18 points, with intital jobless claims a bit higher than expected. The big jobs figure comes tomorro
Read moreLondon midday: Footsie slips after record quarter
1st Oct 2009 12:08
Footsie has paused for breath after its record-breaking quarter with weapons group BAE Systems especially under the cosh. The Serious Fraud Office has asked the Attorney General if it can prosecute the defence contractor over alleged bribery in a number of countries. The SFO is deciding if it shou
Read moreLondon open: Healthy start to Q4
1st Oct 2009 08:40
London set off higher Thursday as buyers snapped up miners and Legal & General (L&G) continued to attract speculative interest. Persistent talk that Resolution is circling L&G had the insurer higher again in early deals, while yesterday's upgrade by Deutsche Bank helped. The broker also thinks Av
Read moreLondon pre-open: Flat start expected
1st Oct 2009 07:42
After celebrating the biggest quarterly rise in its history yesterday the Footsie seems reluctant to move at all at the start of the new quarter, with traders predicting a flat opening. Interdealer broker ICAP expects revenue to increase by about 6% in the half year ended 30 September 2009, but pro
Read moreJohnson Matthey buys Applied Utility Systems
1st Oct 2009 07:32
Specialty chemicals firm Johnson Matthey said it has bought the assets of Applied Utility Systems from Catalytic Solutions for $8.5m in cash plus $1.5m subject to certain contingencies. California based Applied Utility Systems designs and supplies systems used in gas turbines for power generation,
Read moreLondon open: Flat start as markets catch breath
18th Sep 2009 08:44
Footsie has made a slow start after Wall St paused for breath overnight on concerns the recent equity market surge may have got ahead of itself. Part-nationalised bank Lloyds Banking Group is making the headlines. It has confirmed talks with the government about changes to the terms of it joining a
Read moreLondon close: Stocks gain on economic cheer
15th Sep 2009 16:40
Footsie put further distance between itself and the 5,000 point mark as the global economic outlook brightened. The US recession is 'very likely' to have ended, Federal Reserve chairman Ben Bernanke said. Here, the UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest si
Read moreLondon afternoon: Weak retailers out of step
15th Sep 2009 14:18
Leading shares are consolidating the morning's gains, though retailers decline to join the party. Confusion and speculation surrounds the acquisition and fund raising intentions of general insurer RSA. Reports in today's FT suggest RSA indicated at a recent investors conference that it was looking
Read moreLondon midday: RSA's bid plans unclear
15th Sep 2009 12:11
After a quiet but tospy-turvy session the blue-chip index ended the morning in positive territory, despite the UK inflation picture not improving as much in August as expected. The UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest since level since February 2005 and do
Read moreLondon close: Footsie fights back
14th Sep 2009 16:34
After toiling in the red all day, Footsie made a late push into positive territory to close above the 5,000 point mark. Miners were weak spot. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile co
Read moreFTSE 100 movers: Oil shares slip with crude price
14th Sep 2009 14:15
Oil shares have taken over from the miners as the weak spot today. The price of crude has fallen back to under $69 per barrel, clipping recent gains in Cairn Energy, Tullow and BG, which announced a monster oil find in Brazil last week. Marks & Spencer picked up as Morgan Stanley upped its price ta
Read moreLondon afternoon: Resource stocks lose favour
14th Sep 2009 14:11
Resource stocks are friendless today as oil and metals prices shift into reverse. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile copper prices have fallen for the fourth day in a row on over-s
Read moreSector movers: Chemical sector reacts to Johnson Matthey downgrade
14th Sep 2009 14:00
Johnson Matthey is helping drag the chemicals sector lower. The platinum refiner and catalytic converter maker was downgraded to 'equal-weight' from 'overweight' at Morgan Stanley. Elsewhere in chemicals, Plant Health Care falls back slightly after depressed agricultural markets resulted in widenin
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