Rio Tinto CFO to retire next year
12th Jul 2012 07:28
Rio Tinto's long-standing Chief Financial Officer (CFO) Guy Elliott is to retire at the end of next year, the group announced on Thursday, along with a few other senior management changes. Elliot has worked for the mining group for 32 years, which includes ten years on the board. "I would like to
Read moreLondon open: Stocks flat after Eurogroup meeting
10th Jul 2012 08:47
- Eurogroup gives Spain extra time - Chinese trade surplus at three-year high - M&S maintains guidance despite LFL sales falling The Footsie opened broadly flat on Tuesday morning with investors digesting the the developments from yesterday's Eurogroup meeting. Eurozone finance ministers decided t
Read moreBroker tips: Glencore, Xstrata, Michael Page...
9th Jul 2012 11:08
Jefferies expects commodities marketer and producer Glencore to bump up its proposed merger ratio for Xstrata and says that following the stocks' recent underperformance, shares of both groups are now more attractively valued. "We continue to have a positive view on shares of BHP Billiton and Rio T
Read moreBroker snap: Glencore likely to raise offer for Xstrata, says Jefferies
9th Jul 2012 10:24
Jefferies expects commodities marketer and producer Glencore to bump up its proposed merger ratio for Xstrata and says that following the stocks' recent underperformance, shares of both groups are now more attractively valued. The broker had said recently that mining peers BHP Billiton and Rio Tint
Read moreSector movers: US jobs data sees investors flee from risk
6th Jul 2012 15:14
With disappointing jobs figures from the US prompting a sell-off in global stock markets, the defensive sectors were benefitting from the risk-off environment. The US Labor Department revealed that 80,000 non-farm payrolls were added in June, less than the 100,000 expected by analysts. The jobless
Read moreFTSE 100 movers: Aviva leaps after Delta Lloyd sale plans
6th Jul 2012 13:39
Having promised on Thursday that it would raise money from disposals, insurance giant Aviva moved quickly to act on that pledge by saying it will sell more of its stake in Delta Lloyd than originally intended, prompting a sharp rise in its share price. Also providing a lift was Societe Generale whic
Read moreLondon midday: Stocks fall as investors shrug off central bank action
6th Jul 2012 11:37
- Markets look ahead to US jobs report - Investors shrug off central bank action - Aviva jumps on Delta Lloyds disposal The Footsie was trading within a narrow range on Friday morning as investors showed caution ahead of a pivotal employment report due out in the US in the coming hours. Stocks o
Read moreFTSE 100 movers: Aberdeen off on Credit Suisse placement
3rd Jul 2012 13:57
Making headlines this morning was the news that Bob Diamond has called its quits at Barclays, bowing in to political pressure following last week's news that the bank was involved in Libor manipulation. Marcus Agius, who said yesterday that he would resign as Chairman, is to become a full-time Chair
Read moreLondon midday: Barclays, miners provide a lift in London
3rd Jul 2012 11:44
- Investors welcome departure of Barclays CEO - Stimulus hopes drive gains for equity markets - Miners track metals prices higher Trade was choppy on Tuesday morning, but the Footsie edged higher on the back of strength in the mining sector. However, the index stayed within a narrow range with just
Read moreLondon open: Stocks rise on stimulus hopes; Barclays in focus
3rd Jul 2012 08:31
- US, UK, China and ECB stimulus hopes drive gains - Barclays hits headlines after CEO departs - Miners rise as metals prices advance Hopes that central banks will inject more stimulus into the global economy were boosting UK stocks on Tuesday morning. Yesterday's disappointing manufacturing data
Read moreFTSE 100 movers: Barclays wobbles after 'serious failings'
29th Jun 2012 13:45
Following Barclays's 16 per cent drop yesterday after it was found to have manipulated interbank lending rates, shares were swinging between gains and losses today after the Financial Services Authority (FSA) revealed it has found "serious failings" in the way lenders sold complicated interest rate
Read moreLondon midday: Summit developments catch markets by surprise
29th Jun 2012 12:01
- EU leaders announce measures to combat crisis - Spanish, Italian bond yields tumble - Banks involved in another scandal Markets across Europe celebrated this morning what most experts consider to have be surprising 'breakthrough' agreements from the first day of the European Council summit. The
Read moreLondon close: Eurozone uncertainties fuel risk aversion
25th Jun 2012 16:43
- Cautious mood ahead of EU summit - Spain officially asks for EU aid - Shire finishes down 11 per cent on generic competition issues Mining stocks were dragging London's FTSE 100 sharply lower on Monday, as investors sold off 'riskier' assets. However, it was Shire that finished the day as the wor
Read moreSector movers: Miners unwanted as investors flee from risk
25th Jun 2012 15:24
Mining stocks were heavily out of favour on Monday afternoon on the back of risk aversion, as Eurozone uncertainty continues to cloud the outlook for the global economy. Investors are currently waiting anxiously for the European Summit on June 28-29th which will see leaders discuss, and hopefully d
Read moreFTSE 100 movers: Shire dives on rival application
25th Jun 2012 13:59
Shares in pharmaceutical giant Shire tanked after the US Food and Drug Administration approved a rival's application to make a generic version of its attention deficit and hyperactivity disorder (ADHD) drug, Adderall XR. IAG was also out of favour on reports that nationalised Spanish bank Bankia a
Read more