London open: ICAP leads strong rise for Footsie
1st Feb 2012 08:23
The Footsie opened in positive territory, rising well above the 5,700 level, after better-than-expected Chinese data and rumours of progress in Greece lifting the mood early on. European markets have opened strongly as investors await Eurozone manufacturing data later this morning. The HSBC China m
Read moreLondon pre-open: Small rise expected in early trading
1st Feb 2012 07:23
City sources predict the FTSE 100 will open up 5 points from yesterday's close of 5,682, taking its lead from small gains made in Asia on the back of better-than-expected manufacturing data in China. The two Anglo-Australian giants of the mining sector, Rio Tinto and BHP Billiton, have been doing
Read moreRio doubles stake in South African smelter as BHP sells up
1st Feb 2012 07:00
Anglo-Australian mining colossus Rio Tinto has taken majority control of South African firm Richards Bay Minerals (RBM) after buying up a stake from fellow mining heavyweight BHP Billiton. BHP has agreed to exercise a put option - a contract to sell shares - agreed with Rio Tinto as part of RBM's r
Read moreLondon midday: Stocks fall ahead of EU summit
30th Jan 2012 11:55
London's blue chip index had fallen close to its lowest levels of the day by lunchtime ahead of the EU summit in Brussels. Meanwhile, markets were still digesting the downgrade of five Eurozone nations on Friday and the talks between the Greek government and private creditors that are still ongoing.
Read moreMonday broker round-up - UPDATE
30th Jan 2012 08:57
Rio Tinto: Goldman Sachs upgrades from neutral to buy. Whitbread: Credit Suisse downgrades from outperform to neutral, 1,818p target maintained. Weir: Credit Suisse ups target from 2,200p to 2,275p, outperform rating kept. ARM Holdings: Nomura raises target from 570p to 580p, neutral recommendati
Read moreLondon close: US data, Greek talks weigh on FTSE 100
27th Jan 2012 16:26
With economic growth in the world's largest economy surprising to the downside, miners and oil stocks were sold off on Friday, dragging the Footsie near to its lowest levels of the day by the close. Meanwhile, uncertainty in regards to debt-swap talks in Greece continued to weigh on investors' minds
Read moreFTSE 100 movers: Kazakhmys leads miners higher
26th Jan 2012 13:42
With the Federal Reserve pledging to do its best to strengthen the US economy last night, the dollar weakened against the euro, sending metals prices higher. As such, the miners were dominating the risers on Thursday afternoon. Kazakhstan-based copper miner Kazakhmys was in the top spot after sayin
Read moreLondon midday: Miners gain after Fed, Polymetal rises on merger rumours
26th Jan 2012 11:50
- Miners surge as Fed pledges low rates. - IIF willing to accept coupon rate of below 4%. - Ireland returns to international bond markets. The Footsie was up 1% by midday with miners leading the advance after the Federal Reserve's move to keep interest rates low last night weakened the dollar and m
Read moreLondon open: Miners jump after Fed pledges low rates
26th Jan 2012 08:33
London's blue chip stocks rose in early trading on Thursday, following on from a surge last night on Wall Street after the Federal Reserve pledged to keep the federal funds rate low until late 2014. Meanwhile, Greece is again in focus as talks resume between private creditors and the government. The
Read moreRio makes its move on Ivanhoe and raises stake to 51%
24th Jan 2012 17:25
Rio Tinto did what many had expected on Tuesday by moving to take a majority stake in Asia Pacific-focused company Ivanhoe Mines. Following the announcement by Ivanhoe last Thursday that it would dispose of its shareholder rights plan (leaving the door wide open for Rio), the UK-listed miner has no
Read moreIvanhoe plans to make way for Rio takeover
19th Jan 2012 14:18
Asia Pacific-focused company Ivanhoe Mines, has announced plans to dispose of its shareholder rights plan, a move which will leave the door wide open for mining giant Rio Tinto to up its already sizeable stake in the firm and gain control of the Mongolian Oyu Tolgoi copper-gold mine. Rio's 49% res
Read moreLondon open: Footsie flat despite euro optimism
19th Jan 2012 08:22
The FTSE 100 opened flat on Thursday morning, following gains made yesterday after the news that the International Monetary Fund (IMF) is boosting its lending capacity by at least $500bn. Lifting sentiment was a source from the Greek finance ministry, who told French news agency Agence France-Pre
Read moreLondon midday: Essar recovery pushes Footsie into the blue
18th Jan 2012 12:01
The Footsie pushed into positive territory in late morning trade, helped the blue chip index nudge above the 5,700 mark, helped by a strong recovery from Essar Energy and a well-received trading update from Man Group. Nevertheless, investors are keeping a close eye on Athens today as Greek private
Read moreNcondezi signs new infrastructure agreement
18th Jan 2012 10:56
Mozambique-focused coal miner Ncondezi Coal has signed a new rail and port infrastucture agreement with Rio Tinto Coal Mozambique and Minas de Revuboeas as part of the company's strategy to export coal from its Ncondezi Project. The aim of the agreement is to further study the Integrated Transport
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
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