London close: Flat finish as Carnival and Imperial warn on profits
13th Jun 2011 17:07
Shares finished slightly higher on another choppy day for the FTSE 100, with bid-talk surrounding ENRC helping offset profit warnings from Imperial Tobacco and Carnival. Imperial Tobacco fell back after it slashed profit expectations for its Spanish business as competition in the country forced it
Read moreLloyds to axe more jobs
13th Jun 2011 14:58
Banking giant Lloyds is to axe another 15,000 jobs on top of the 28,000 that have already been shed. The latest job cuts come as part of a plan to save £1bn in costs. Lloyds is set to announce a strategic review at the end of the month. The Sunday Times reported that the plans were being implement
Read moreSector movers: Lloyds, Barclays pull banks higher
13th Jun 2011 14:44
The banking sector is in demand on Monday with blue chips Lloyds and Barclays among the notable risers. Lloyds is making gains amid speculation that it is planning to get rid of 15,000 jobs in an attempt to rein in costs. The Sunday Times reported that the plans were being implemented by its new he
Read moreFTSE 100 movers: ENRC, Glencore higher amid speculation
13th Jun 2011 14:16
Eurasian Natural Resources Corp (ENRC) has advanced on speculation that commodities trading house Glencore is drawing up a bid. The Sunday Times said that Glencore's Chief Executive Ivan Glasenberg has held talks in recent weeks with ENRC's three founders and key shareholders Alexander Mashkevitch,
Read moreLondon midday: FTSE 100 fights back
13th Jun 2011 12:15
Shares have climbed higher after an indifferent start, with mining stocks and banks sending the top share index higher. Imperial Tobacco is lower though after it slashed profit expectations for its Spanish business as competition in the country forced it to cut prices for cigarettes. Imperial, whos
Read moreFTSE 100 movers: Weir leads engineers higher
9th Jun 2011 15:39
Engineer Weir Group is the highest riser after its earnings estimates were lifted by RBC Capital Markets. There have been reports today that two companies in China have been given fines of £1m after manufacturing illegal duplicates of Weir pumps. Automotive and aerospace engineer GKN, oilfield eng
Read moreLloyds led gains on the FTSE 100, Nomura thinks it's cheap
8th Jun 2011 19:49
Lloyds Banking Group led gains on the FTSE-100 today on the back of several pieces of good news; in particular after announcing the sale of Hill Hire, the truck and trailer rental solutions provider, for £151m, to US-based Ryder System. Also supporting its stock price, the U.K. Chancellor of the Ex
Read moreLondon close: FTSE 100 slides as worries persist
8th Jun 2011 16:38
Stocks finished firmly in negative territory as worries over the state of the global economy continued. Stocks finished lower in the US last night after downbeat comments from Federal Reserve president Ben Bernanke on US economic prospects. After a hesitant start, London's leading share index took
Read moreFTSE 100 movers: Sharp drop for Antofagasta
8th Jun 2011 15:14
Antofagasta is heading the fallers, losing more than 5%, after warning that the ramp-up of the Esperanza plant in northern Chile is taking longer than expected, causing the group to scale back its total copper production guidance for 2011. Group copper production for 2011 is expected to be between
Read moreFTSE 100 movers: Glencore rises, Lloyds drops
6th Jun 2011 15:24
Glencore, the newly-listed commodity trading house, is the top riser, helped by Deutsche Bank issuing a 'buy' recommendation on the stock. Meanwhile, Lloyds Banking Group is heading the other way, trading at its levels not seen since last February, on the back of reports over the weekend that chief
Read moreSunday newspaper round-up: US Weakness, QE3 and Crabs
5th Jun 2011 11:45
Commenting on the recent string of poor economic indicators out in the United States David Rosenberg, of Gluskin Sheff, has said to the Financial Times´ weekend edition that, "Last year we saw what happens when the government withdraws its stimulus (...) Now, once again, we are seeing what the emper
Read moreUK house prices to fall 10%, Morgan Stanley says
1st Jun 2011 12:24
In a research note issued this morning to their clients analysts at Morgan Stanley write that they expect to see another 10% fall in UK house prices by the end of 2012, as compared to levels at the end of last year (Q4 2010). The above on the basis of its expectations for the Bank of England's inter
Read moreLondon close: Stocks hold on to gains
27th May 2011 16:46
Stocks held on to gains going into a long weekend, as Wall Street opened up higher. After a sharp rise in early trading, the Footsie maintained its level around the 5,930-40 mark for the rest of the day, helped by strong showings from the miners and the banks. Just seven stocks finished in the red.
Read moreFTSE 100 movers: Essar rises over 5% to lead risers
27th May 2011 14:10
Energy firm Essar Energy is topping the risers, making a +5% gain as of Friday afternoon. Meanwhile, Cairn Energy is the heaviest faller, edging just 0.5% lower. Only five stocks are in the red, all recording minor losses. The miners are tracking metals prices higher. Antofagasta, Kazakhmys, Rio Ti
Read moreLondon midday: Banks provide a boost
27th May 2011 12:05
The Footsie is around 1% higher at the midday point, holding on to early gains. The banking sector is performing well today after positive comments from Citigroup. The US bank upped its rating on European banks to 'overweight', saying that the recent decline in the share prices provides a good entr
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