London pre-open: Banks to feature early on
3rd Nov 2009 07:40
Expect an early 50-point slide as investors assess confirmation of dividend cuts and asset sales from Royal Bank of Scotland and a £21bn cash call from Lloyds Banking Group. RBS will not be allowed to pay dividends for the next two years and have to divest its insurance arm and a raft of other busi
Read moreLegal & General sees confidence returning
3rd Nov 2009 07:26
Insurer Legal & General said worldwide new business was down in the first nine months of 2009 but there are signs of confidence returning to the economy. Worldwide new business in the first nine months of 2008 was down 7% to £1,058m from £1,137m in the corresponding period of 2008. The investment
Read moreSector movers: Miners take the lead
2nd Nov 2009 13:44
Miners are the strongest performers thanks to sharply higher metal prices and news that Randgold Resources is keen to bring the renamed Kibali mine into production as soon as possible. Randgold and its joint venture partner AngloGold Ashanti agreed on Saturday to buy an additional 20% stake in the
Read moreLondon close: Shares end near session high
29th Oct 2009 16:23
London's top stocks closed near its session high on news that the US economy grew faster than expected in the third quarter. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nationalised bank Lloyd
Read moreLondon afternoon: Blue chips track US advance
29th Oct 2009 14:55
America's return to growth in the third quarter, stronger UK banks and a better mining sector have propelled London far into the blue Thursday. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nati
Read moreLondon midday: Banks shine but Footsie falls
29th Oct 2009 12:05
Shareholders in Royal Dutch Shell are grateful to Lloyds Banking Group for wresting investor attention away from the Anglo-Dutch company's poorly received results, as the part-nationalised bank confirmed it is contemplating digging an escape tunnel from the government's asset protection scheme. Llo
Read moreLondon open: Banks cure Shell shock
29th Oct 2009 08:34
UK blue chips continued yesterday's poor form, falling further in early deals as Shell disappointed with a 73% plunge in quarterly profits, but recovering financial plays soon erased the deficit. Royal Dutch Shell's third quarter earnings crashed to just $3bn from $10.9bn a year ago on a current co
Read moreLondon close: Triple-digit losses for FTSE 100
28th Oct 2009 16:26
A poor performance from mining and financial stocks ensured that Footsie ended with triple-digit losses. Insurer Prudential, which saw a surge in US business but posted a fall in UK sales, was a heavy faller. The Pru lifted group-wide retail sales by 10% to £699m in the third quarter thanks largel
Read moreFTSE 100 movers: Miners among the wounded
28th Oct 2009 15:37
The list of blue chip fallers is littered with miners as the dollar's ongoing recovery sends commodity prices lower. Xstrata, Lonmin, Kazakhmys and Rio Tinto are nursing losses, while a fall in oil prices towards $78 a barrel has hurt Petrofac, BP and Shell. Insurer Prudential fell as a 22% dive i
Read moreLondon afternoon: Stocks steady at lower levels
28th Oct 2009 14:10
Miners and financials remain a dead weight around Footsie's neck, but elsewhere, leading shares are slowly beginning to claw back losses. Prudential, which saw a surge in US business but posted a fall in UK sales, is still among the heaviest fallers. The Pru lifted group-wide retail sales by 10% to
Read moreSector movers: Pru drags insurance sector lower
28th Oct 2009 13:30
Life insurance stocks fall back after a dive in UK business sent Prudential's group insurance sales down 9% during the third quarter. The Pru reported insurance sales of £700m for the three months ended 30 September, with nine-month sales also dropping 9% to £2.02bn. UK retail sales slumped 22% to
Read moreLegal & General finance chief invests £670,000
19th Oct 2009 16:00
Legal & General's new chief financial officer Dr Nigel Wilson has bought £670,000 worth of shares less than seven weeks after joining the board of the insurer. Dr Wilson tookup his appointment on 1 September 2009. He did not own any shares at the time. Dr Wilson bought 760,948 shares at 88p each o
Read moreLondon close: Retailers weigh on Footsie
13th Oct 2009 16:46
A poor performance from US shares dragged Footsie into the red and the leading index finished the day with substantial losses. Retailers were out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growt
Read moreLondon afternoon: Retailers sag after sales data
13th Oct 2009 14:26
Leading shares remain mixed, with the Footsie easing back into the red over the lunchtime session. Retailers are out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growth in September accelerated to
Read moreLondon midday: Looking for direction
13th Oct 2009 12:14
The Footsie has crawled into positive territory, helped by miners recovering from their weak opening. Kazakhmys is the pick of the sector after revealing it is in talks with the China Development Bank and JSC Sovereign Wealth Fund Samruk-Kazyna regarding a potential corporate loan facility of aroun
Read more