FTSE 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
Read moreLondon open: Miners and banks head a strong start
27th May 2011 08:28
The Footsie has started strongly, rising over 1% as the index climbs above the 5,900 level. The miners are in demand, with Lonmin, Rio Tinto, Xstrata and Kazakhmys heading higher. The latter announced this morning that it's proposed listing on the Hong Kong stock exchange will not involve the issu
Read moreSector movers: Burberry lower ahead of results
25th May 2011 15:52
Burberry, the luxury fashion brand, is dragging the personal goods sector lower. The group is due to report its final results on Thursday, and revealed in April that it expects profits for the year to 31 March to be at the top end of forecasts, after a strong final quarter. Shares have risen by ar
Read moreLondon close: Modest gains for FTSE 100
24th May 2011 16:47
Stocks finished in the blue although off earlier highs and the gains were modest against yesterday's losses. In company news, high street stalwart Marks & Spencer eased even after it said it was winning market share in both clothes and food sales as it posted pre-tax profits in line with expectati
Read moreSector movers: Victrex boosts chemicals sector
24th May 2011 16:42
The chemicals sector was bolstered by gains made by plastics group Victrex on Tuesday after the company reported its half-year results. Victrex said profit surged 57% while sales volumes rose 22% in the last six months after a strong performance in all of its major markets. The group, which manuf
Read moreFTSE 100 movers: Miners rise on metals prices
24th May 2011 15:40
The miners are in demand as precious metals prices continue to ascend. Fresnillo is the highest riser, gaining over 4%. Cairn Energy, Antofagasta, Kazakhmys, Randgold Resources, Xstrata and Rio Tinto are also firmer. Oil groups BG and BP are rising higher, along with crude oil prices. Goldman Sa
Read moreLondon midday: FTSE 100 on the ascent
24th May 2011 12:04
Shares are still in positive territory, but the gains are modest compared to yesterday's slide. Higher commodity prices are boosting the likes of South American copper miner Antofagasta and South African platinum miner Lonmin. The banking sector is under pressure though, with Moody's considering d
Read moreMoody's may downgrade UK banks
24th May 2011 08:58
Shares in UK banks took a knock after the ratings agency Moody's said it is considering downgrading Lloyds Banking, Royal Bank of Scotland and 12 other banks in response to the UK regulator appearing less willing to bail out lenders in the future. "The reassessment is not driven by either a deterio
Read moreLondon open: Shares win back some losses
24th May 2011 08:29
The top share index has made a modest recovery following yesterday's slide, with mining stocks setting the pace. Higher commodity prices are boosting the likes of South American copper miner Antofagasta and South African platinum miner Lonmin. The banking sector is under pressure though, with Mood
Read moreSunday newspaper round-up: Morrisons, RBS, Betfair ...
22nd May 2011 11:15
Wm. Morrison, the number four player in the UK supermarket sector, is plotting a £1.5bn bid for Iceland, the frozen food retailer, according to The Sunday Times. A takeover of the chain would nearly triple the number of Morrisons stores and bring its market share to within a whisker of Asda and Sain
Read moreTuesday newspaper round-up: Banks, IMF, BP
17th May 2011 06:24
The City will miss out on £1bn of fees if the Government goes ahead with an unusual method of bank privatisation recommended yesterday by Lord Saatchi and other influential Conservatives. The Centre for Policy Studies think-tank, chaired by the Tory peer, has urged the coalition to shun a normal sal
Read moreBanks cave in over PPI
9th May 2011 14:45
The banking industry has admitted defeat in its legal battle over the mis-selling of payment protection insurance (PPI). The British Bankers' Association (BBA) announced on Monday it would not appeal against a ruling by the High Court in favour of tough new rules on selling PPI. Several million pe
Read moreFTSE 100 movers: Inmarsat rises, banks fall
9th May 2011 13:32
Satellite communications giant Inmarsat is topping the risers after first quarter revenue rose by 15% boosted by payments from its agreement with US telecom group LightSquared. The banking sector is under the weather: Barclays' shares fell after it reported that it is setting aside £1bn to cover t
Read moreBarclays to take £1bn PPI hit
9th May 2011 09:10
Barclays is setting aside £1bn to cover the cost of mis-selling of Payment Protection Insurance (PPI), the bank has announced. It said it will not participate in any application to appeal against a High Court Judgement dismissing a bid by the British Bankers' Association to overturn a ruling that b
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