London afternoon: Miners retain most of their gains
25th Oct 2010 14:28
London has lost some of its gains in the early afternoon but it is showing signs of a renewed upturn. Miners remain the best performers on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adhered to, bring an end to so-called currency w
Read moreLondon midday: Banks miss out
25th Oct 2010 12:05
Having got off to a flying start London spent the mid-morning period slowly relinquishing its gains before regaining impetus just before midday. Miners continue to lead the advance on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adh
Read moreFTSE 100 movers: Miners head lower
22nd Oct 2010 14:56
Mining companies are leading the market down. Lonmin is the biggest loser with ENRC and Vedanta following it down. Reckit Benckiser is lower after it said that its finance director Colin Day is leaving after 10 years in the job. TUI Travel is recovering after yesterday's fall on its accounting
Read moreLondon close: Footsie rallies after shaky start
18th Oct 2010 16:48
After a sluggish start to the day, shares closed with good gains following a lively start on Wall Street. Better than expected profits on the back of a decline in provisions for bad loans at Citigroup sparked buying interest. Mining giants BHP Billiton and Rio Tinto have confirmed that their propo
Read moreLondon afternoon: Equities push on
18th Oct 2010 14:54
Leading shares added to the morning's gains over the lunch time session though miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in D
Read moreLondon midday: HSBC says get out of copper producers
18th Oct 2010 11:26
The blue-chip index ended the morning barely changed which, given that virtually all of the mining stocks were lower, counts as some sort of moral victory. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The c
Read moreLondon open: Slow start for blue chips
15th Oct 2010 08:50
Footsie has made an unconvincing start to the day but has just about reversed the weaker trend seen at the death yesterday. Banks are going well and have recouped most of yesterday's losses. Barclays, Royal Bank of Scotland and Lloyds are all in demand this morning. HSBC is ready to step away fro
Read moreLondon close: Weak end to dull day
14th Oct 2010 16:35
Leading shares closed lower on a poor day for the banks and a tumble for African Barrick. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices are back on the rise as the dollar heads
Read moreLondon afternoon: Footsie bottoms out
14th Oct 2010 14:17
Leading shares trod water over the lunchtime session, leaving Footsie still stranded in the red. Banks remain in the doldrums. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls has unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices
Read moreFTSE 100 movers: Cash call fears hit banks
14th Oct 2010 14:00
Banks are leading the Footsie lower as investors worry that they will follow the lead of Standard Chartered and ask for more cash. RBS is the worst performer but Barclays and Lloyds are close behind. Miners are on the rise, except for African Barrick Gold, as metals prices are firming. Rio Tin
Read moreLondon midday: Downward drift quickens
14th Oct 2010 11:56
US markets may be expected to open firmer but London is determined to go its own way today, heading lower, despite a buoyant mining sector. Metal prices are back on the rise as the dollar heads in the opposite direction. That is not enough to prevent gold miner African Barrick Gold taking a tumble,
Read moreThursday newspaper round-up: Banks, Lloyds, airlines
14th Oct 2010 06:25
Britain's biggest banks have admitted for the first time that there was a problem with lending to small businesses and that they should offer greater support. In a wide-ranging report published last night, the banks - Barclays, Royal Bank of Scotland, Lloyds Banking Group, HSBC, Santander and Stand
Read moreLloyds culls 4,500 IT jobs
13th Oct 2010 12:42
Government-controlled bank Lloyds Banking is to axe 4,500 jobs from its IT department, taking the total number of posts cut to over 22,000 since Lloyds and HBOS merged in 2009. Some 4,000 Group Information Technology jobs will be slashed, out of a total workforce of 10,000. Most of the jobs lost ar
Read moreLondon open: Wall St rally boosts Footsie
13th Oct 2010 08:48
Last night's recovery on Wall St following the Federal Reserve's hint at further stimulus measures has boosted London early on despite a big bank cash call. Standard Chartered, the emerging markets focused bank, is preparing for stricter capital requirements for banks with a £3.26bn cash call. The
Read moreInvista loses Lloyds contracts
12th Oct 2010 11:54
AIM-quoted Invista Real Estate Investment Management Holdings says that it believes it is best to liquidate its assets following the termination of its contract with Lloyds, which account for more than two-fifths of the business. Invista Real Estate was demerged from HBoS in September 2006, when i
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