London close: Shell continues to provide a drag
3rd Feb 2011 17:05
Footsie failed to hang on to yesterday's 6,000 level and finished 0.28% lower despite Wall Street beginning to recover from its early morning lows towards the end of the London trading session. Royal Dutch Shell stayed the heaviest faller in London despite more than quadrupling fourth quarter profi
Read morePetrofac picks Cairn's Murray as chairman
31st Jan 2011 07:30
Oil services group Petrofac has a new chairman after buying the services of venture capitalist and chairman of Cairn Energy Norman Murray. The 62-year-old, a co-founder and former chairman of Morgan Grenfell Private Equity, will replace Rodney Chase following six years in the role after the AGM on
Read moreFTSE 100 movers: Pearson increases guidance
19th Jan 2011 12:53
Pearson is top performer after the FT owner said 2010 earnings will be ahead of expectations. All of its major businesses did well throughout last year. The educational publisher expects full year operating profits to come in around 20% higher than 2009's level, at about £850m. GlaxoSmithKline h
Read moreLondon close: Shares buoyant as updates impress
18th Jan 2011 16:42
The top share index closed near its highs, helped in part by well-received company updates. Burberry was in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group, with revenue up by 30% and profits now set to hit the top
Read moreLondon afternoon: Gains get trimmed
18th Jan 2011 14:35
Share prices came off the boil over the lunch time session though Footsie remains firmly in the red, as things continue to look rosier in the eurozone. Burberry is in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group
Read moreFTSE 100 Movers: Burberry grows internationally
18th Jan 2011 13:15
Burberry is leading the market higher after strong third quarter figures. Revenue grew by 30% in the third quarter and full year profit is expected to be at the top end of market expectations. The growth is coming from around the world. Oil services provider Petrofac has won a $1.2bn oil field d
Read moreLondon midday: Shares keep gains
18th Jan 2011 12:17
The top share index remains buoyant as mining sector strength and company updates attract buyers. Miners are strong led by Vedanta, Kazakhmys and ENRC.Rio Tinto's global iron ore operations set a new quarterly production record in the final three months of 2010. The group produced 65m tonnes in the
Read morePetrofac wins £750m Algeria gas field contract
18th Jan 2011 12:16
Oil services group Petrofac's shares moved ahead after it said it has been awarded a $1.2bn (£750m) contract to help develop gas fields in Algeria. The work was awarded by In Salah Gas, an association comprising BP, the Algerian state-owned company Sonatrach and Norway's Statoil. Petrofac will be
Read moreLondon close: Strong start to 2011 continues
5th Jan 2011 16:44
An afternoon rally helped the FTSE 100 build on yesterday's strong start to the year and stay at levels not seen since the first half of 2008, well in advance of the global economic crash. The turnaround in fortunes was inspired by some strong US jobs data, with payroll processor ADP reporting a re
Read moreLondon afternoon: Footsie back above 6,000
5th Jan 2011 14:04
Footsie has scrambled back above 6,000 over the lunch time session though the blue-chip index remains slightly lower on the day. Miners remain a drag on the index, with the likes of Antofagasta, Anglo American, BHP Billiton and Kazakhmys falling back in line with softer metals prices. Retailers
Read moreLondon midday: Shares give back some gains
5th Jan 2011 12:07
The FTSE 100 is firmly in the red after yesterday's strong gains amid weakness in the mining and retail sectors. With metals prices falling back following a strong run recently, miners such as Antofagasta, BHP Billiton and Kazakhmys are weak. Retailers are in focus, with Next one of the top riser
Read moreLondon open: Blue chips open lower
5th Jan 2011 08:56
London has opened weaker, continuing the softer trend seen towards the end of yesterday's session with retailers and food groups under pressure. The snow lost Next an estimated £22m of full price sales in the run-up to Christmas - about 2.2% of the season's total sales - although the high street fa
Read moreLondon pre-open: Retailers in focus
5th Jan 2011 07:37
London looks set to open weaker, continuing the softer trend seen towards the end of yesterday's session. City traders expect the FTSE 100 index will open down by about 6 points from last night's close. Retailers are in focus in the early going. The snow lost Next an estimated £22m of full price sa
Read moreEx-BP man Inglis joins Petrofac
5th Jan 2011 07:07
Oil fabrications giant Petrofac has confirmed the appointment of Andy Inglis, the former head of BP's exploration and production and who was in charge of safety at the time of the Gulf of Mexico oil spill. Inglis will head up Petrofac's Energy Developments and Production Solutions businesses. He wi
Read moreLondon close: Footsie winds down as 2011 nears
30th Dec 2010 16:55
London closed shy of the 6,000 mark after a late dip in very light volumes with little for either buyers or sellers to get their teeth into. Fresnillo was an exception thanks to another strong day on the metals exchanges as silver hit a new 30-year high. Copper traded above $9,500 per tonne on the
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