Sector movers: ENRC leads miners lower after profits drop
15th Aug 2012 15:48
Heavy falls for Eurasian Natural Resources Corp (ENRC) and a host of heavyweight resource stocks saw the mining sector fall to bottom of the pile on Wednesday. Diversified mining giant ENRC was trading over 8% lower in afternoon trade after reporting that it was hit by a fall in commodity prices an
Read moreFTSE 100 movers: ENRC profits slide
15th Aug 2012 13:59
Diversified mining giant Eurasian Natural Resources Corp (ENRC) dropped into the bottom spot after being hit by a fall in commodity prices and challenging economic conditions in the first half, meaning that both revenues and profits were significantly lower than the same period in 2011. The group sl
Read moreLondon midday: Footsie stays lower despite jobless data
15th Aug 2012 11:38
- MPC in wait-and-see mode - UK jobless rates falls more than expected - StanChart, Resolution lead the risers UK equities were stuck in the red by Wednesday lunchtime as minutes from the latest rate-setting meeting at the Bank of England dampened expectations that the Monetary Policy Committee (MP
Read moreLondon open: Tobacco stocks provide a drag early on
15th Aug 2012 08:28
- Greece to ask for more time - Markets await MPC minutes - Tobacco stocks fall on Australian plain packaging issue UK stocks slipped on Wednesday morning on the back of concerns over Greece and ahead of a keenly awaited report on US industrial output; tobacco companies were leading the decline in
Read moreLondon close: Stocks finish higher after late rally
8th Aug 2012 16:45
After an early fall, London's benchmark index rallied in afternoon trade to finish a few points higher, extending gains from the previous three sessions. The last time the FTSE 100 finished higher was on April 2nd when it hit 5,875. "Stocks and other risky assets have traded higher since Friday. C
Read moreRio Tinto beats forecasts but prices still a concern - UPDATE
8th Aug 2012 15:52
Rio Tinto may have pleased investors by beating forecasts, but a reduction in prices did some significant damage to the miner's underlying first-half earnings. A decline in price was seen in nearly all of Rio's major commodities, with the exception of gold, pushing underlying earnings lower by $2,
Read moreFTSE 100 movers: Standard Chartered heads back up
8th Aug 2012 15:36
Following a 16 per cent slump yesterday, emerging markets-focused bank Standard Chartered was leading the risers today. It was revealed yesterday that a US banking regulator accused it of collusion with the government of Iran to hide transactions from authorities. Rio Tinto, the mining and resourc
Read moreLondon midday: Sentiment dampened by BoE and Greece
8th Aug 2012 11:46
- ECB optimism fades - S and P cuts Greek outlook to 'negative' - BoE slashes growth forecast The Footsie remained firmly in the red on Wednesday morning as optimism earlier this week about the situation in Europe began to fade, particularly as Greece's credit rating outlook was lowered by Standard
Read moreLondon open: Stocks slip on concerns over Greece
8th Aug 2012 09:02
- S and P cuts Greek outlook to 'negative' - Markets await BoE inflation report - StanChart rebounds after yesterday's sell-off UK stocks slipped in the opening hour on Wednesday, with the Footsie pulling back after a four-month high, after Greece's long-term sovereign rating outlook was cut by Sta
Read moreRio Tinto beats earnings forecast but costs rise
8th Aug 2012 07:24
Rio Tinto, the mining and resources giant, has managed to beat market expectations on earnings but admits price pressures are a problem. Underlying earnings for the first six months of the year were $5.2bn against a consensus forecast of $4.9bn. The figure is still 34% down on 2011, reflecting a dr
Read moreFTSE 100 movers: Miners lead the way
31st Jul 2012 14:25
Vedanta, Rio Tinto, Xstrata, Randgold, Glencore and Polymetal making good gains, boosted by Polymetal, Vedanta and Xstrata which all impressed with their second-quarter and first-half production reports this morning. A notable exception was Mexico-focused precious metals miner Fresnillo, which drop
Read moreLondon midday: Markets in the red despite mining strength
31st Jul 2012 11:26
- Recent global risk rally shows signs of fading - European blue-chips (BP, Weir, UBS, Deutsche Bank) - Markets await central bank action London's equity markets were broadly lower on Tuesday as sentiment was dampened by heavyweight corporates (BP, Weir, UBS, Deutsche Bank) missing analysts' estima
Read moreIvanhoe issue a success as parent Rio Tinto takes its fill
30th Jul 2012 15:02
FTSE 100 mining giant Rio Tinto has pumped in just under a billion dollars into its subsidiary Ivanhoe, by taking up its full entitlement in the Asia and Australia-focused miner's rights issue. Rio paid just under $935m to acquire just over 133.57m Ivanhoe shares, which were being offered to shareh
Read moreLondon open: Market extends losses on euro worries
24th Jul 2012 08:29
- Footsie continues to fall as Spanish yields rise - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Miners, banks provide a drag in London - Moody´s criticizes gradualist approach to crisis resolution - Goldman Sachs AM President calls for radical ECB action -BBC UK stocks edged
Read moreBroker tips: HSBC, Rio Tinto, Booker
18th Jul 2012 11:46
Galvan Research has labelled shares of global banking giant HSBC as a 'near-term sell' given the money-laundering issues that have weighed on the stock recently. "HSBC has been forced to swallow a vey large slice of humble pie following the rather damning issues with money laundering," said Andrew
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