London open: Stocks under pressure as debt ceiling looms
9th Oct 2013 08:22
Markets dropped sharply once again on Wednesday as investors' appetite for risk continues to be eroded by the ongoing government shutdown in the US. Not even the news that well-known dove Janet Yellen will be nominated as the next chair of the Federal Reserve lifted stocks this morning, with the FT
Read moreLondon close: Stocks at one-month low on looming US shutdown
30th Sep 2013 16:36
Stocks were firmly lower on Monday as risk appetite was reduced in the face of a looming partial shutdown of the US government after a weekend of no progress in Washington. Political instability in Italy also dampened the mood today as well as disappointing economic data from China, with falls in t
Read moreSector movers: Housebuilders boosted by 'Help to Buy', economic data
30th Sep 2013 14:28
An improving outlook for the UK housing market gave stocks in the home construction sector a bit of a boost on Monday, one of the few categories immune to the wider market sell-off. Stocks were lifted by the weekend's news that the second phase of the government's housing stimulus scheme, 'Help to
Read moreFTSE 100 movers: Miners weigh heavily after Chinese data disappoints
30th Sep 2013 14:19
Mining stocks declining sharply today on the back of the disappointing data from the world's top metals user, China. Fresnillo, Anglo American, Antofagasta, Glencore Xstrata and Rio Tinto were all falling sharply. China´s manufacturing sector purchasing managers´ index (PMI) for the month of Septe
Read moreBroker tips: UK banks, Housebuilders, Countrywide
30th Sep 2013 12:00
Bank of America Merrill Lynch (BAML) said that the top-line recovery across the European banking sector should be the most striking in the UK, helped by the ongoing improvement in the macro-economic picture. "Helping explain the preference for the UK banks is the economy recovery underway currently
Read moreLondon midday: Miners drag FTSE 100 to one-month low
30th Sep 2013 11:42
Concerns over a potential government shutdown in the US, political chaos in Italy and disappointing economic figures from China sparked steep falls on equity markets across Europe on Monday morning, with the FTSE 100 slipping to levels not seen in a month. The FTSE 100 was trading around 0.85% lowe
Read moreBroker snap: JPMorgan upgrades Persimmon and Barratt Developments
30th Sep 2013 11:27
Housebuilding peers Persimmon and Barratt Developments were making gains on Monday morning after JPMorgan Cazenove upgraded its ratings for both stocks to 'overweight'. The wider sector was given a lift after the government announced this weekend that it will launch the second phase of the 'Help to
Read moreLondon open: US and Italian politics weigh on risk appetite
30th Sep 2013 08:44
Political uncertainty in the US and Italy along with disappointing economic figures from China weighed heavily on risk appetite on Monday morning with mining stocks bearing the brunt of the selling. The FTSE 100 opened around 0.8% lower at 6,458.29 in early trading; the last time it closed lower wa
Read moreMonday broker round-up UPDATE
30th Sep 2013 08:23
African Minerals: Canaccord Genuity raises target price from 330p to 370p and keeps a buy recommendation. Avon Rubber: WH Ireland ups target price from 530p to 590p keeping a buy recommendation. WH Ireland takes target price from 530p to 590p and reiterates a buy recommendation. Barratt Developmen
Read moreLondon close: Stocks sink to three-week low on policy uncertainty
27th Sep 2013 16:32
A cautious start turned into a market-wide sell-off by the close of trade on Friday as nervous investors booked profits ahead of the weekend. The UK's benchmark FTSE 100 index finished 52.93 points lower at 6,512.66, its worst closing level in three weeks. The last time it closed lower was on Septe
Read moreFTSE 100 movers: IMI jumps on appointment of new CEO
27th Sep 2013 14:49
Engineering group IMI rose into the top spot after hiring former Weir boss Mark Selway as its new Chief Executive. He will take the reins from company veteran Martin Lamb who will step down at the end of this year after nearly 13 years at the helm. Utility peers SSE and Centrica were also high ris
Read morePersimmon to cut down on Welsh developments
27th Sep 2013 14:48
Persimmon, the FTSE 100 listed house builder, will no longer construct as many properties in the south Wales valleys as they fail to generate sufficient profit. The group, which has built around 1,000 new homes in Wales each year, said that developments north of Pontypridd sold for too low a cost
Read moreFive board members stock up at Chariot Oil & Gas
25th Sep 2013 16:14
Chariot Oil & Gas announced on Wednesday that five of its directors had collectively purchased just over one million shares of the group, just a few days after it posted results for the first half of the year. Non-Executive Chairman George Candar purchased 159,000 shares for a total of £29,892, wh
Read moreSector movers: Housebuilders gain on construction data
13th Sep 2013 14:51
The household goods and home construction sector was the best-performing category on Friday, extending its impressive surge over the last year. Investors seemed to be shrugging off heightened fears of a 'bubble' in the UK housing market and instead are focusing on a continuing improvement in econom
Read moreLondon close: Markets finish lower despite late rally
20th Aug 2013 16:39
Markets slumped to a six-week low on Tuesday as investors trimmed positions and scaled back risk appetite ahead of minutes of the latest US policy meeting due out tomorrow. The FTSE 100 dropped to an intraday low of around 6,400 early on after a series of disappointing corporate earnings, but ralli
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