London close: Stocks plummet after ECB
8th Dec 2011 16:43
The Footsie took a tumble in the afternoon as initial optimism following the European Central Bank (ECB) decision to cut rates quickly faded after a press conference with its president Mario Draghi. In the last two-or-so hours of trade, London's blue chip index dropped more than 100 points from its
Read moreLondon midday: Stocks pare gains, euro in focus
7th Dec 2011 11:49
The Footsie was trading well below its intraday high of 5,626 reached in early trading. However, the index was still making moderate gains - up 0.33% at 5,587 by midday - on fresh optimism over the Eurozone, as leaders draw up plans to increase the region's firepower against the crisis. Miners domi
Read moreLondon open: Investors raise a glass to RBS's pub sale
2nd Dec 2011 08:51
The equity bandwagon is back on the road after pulling over into a lay-by for repairs yesterday, after French President Nicolas Sarkozy said last night it is necessary 'to put an end to all doubts' over the European Union's commitment to sorting out the region's debt crisis. In what may be a sneak
Read moreLondon pre-open: Footsie to regain 5,500
2nd Dec 2011 07:30
Having fallen below 5,500 yesterday the blue-chip index is set to move back above that level at the outset this morning, with City traders betting the FTSE 100 will open up around 29 points from yesterday's close of 5,489. Mining colossus Rio Tinto has given the green light to an additional $2.7bn
Read moreRio Tinto gives green light for $2.7bn investment
2nd Dec 2011 07:23
Mining giant Rio Tinto has given the go-ahead to an additional $2.7bn capital investment to modernise its aluminium smelter in Kitimat, British Columbia. The new investment will allow for completion of the $3.3bn project in 2014. President of Primary Metal at Rio Tinto Alcan Jean Simon said: "Fo
Read moreLondon midday: Footsie nudges higher despite poor data
1st Dec 2011 12:02
UK stocks have jumped into positive territory after European bond auctions saw strong demand, but gains are likely to be limited by a string of poor manufacturing data out this morning. Investors will still be digesting the news of a co-ordinated intervention by major central banks to provide cheap
Read moreLondon open: Equities becalmed
1st Dec 2011 09:19
Footsie has been bobbing above and below the 5,500 level this morning as the market takes a pause for breath after yesterday's mad rush higher. REPAIR TO THE PUB DIY retailer Kingfisher is a top performer after a well-received trading update. The B&Q owner saw year-on-year like-for-like (LFL) sale
Read moreRio Tinto claims victory in Hathor bid
1st Dec 2011 08:16
Rio Tinto, the Anglo-Australian mining giant, has claimed victory in its agreed bid for Canadian firm Hathor. So far, shareholders representing just over 70% of the Canadian uranium explorer's issued share capital have accepted Rio's offer, which values Hathor at $654m. The rival offer for the com
Read moreLondon close: Footsie at two-week high after central bank action
30th Nov 2011 16:32
Benchmark indices across Europe and the US were making gains of between 3-5% on Wednesday afternoon after a united move by central banks to ease conditions in the global financial system. The FTSE 100 in London finished over the 5,500 mark, a closing level it has not reached since 16 November. CENT
Read moreLondon close: Footsie nudges higher, Ecofin meeting eyed
29th Nov 2011 16:37
The FTSE 100 nudged higher in afternoon trading after swinging between gains and losses all day, as some better-than-expected US economic data boosted equities stateside. Lifting sentiment late on was the Conference Board's consumer confidence index which rose from a revised 40.9 in October to 56 t
Read moreFTSE 100 Movers: Randgold shines again
29th Nov 2011 15:20
Randgold Resources was the top performer, rising over 5%, climbing its way back after yesterday's fall. On Monday, the firm cut its production forecast for the year after running into a number of difficulties at its Tongon mine in Côte d'Ivoire. The firm said that it now expects group production for
Read moreTuesday broker round-up - UPDATE
29th Nov 2011 09:15
Senior: Credit Suisse keeps at neutral, raises target to 175p from 165p. Icap: Credit Suisse keeps at outperform, lowers target to 420p from 510p. G4S: HSBC upgrades to overweight from neutral. Rio Tinto: UBS cuts target from 6,000p to 5,650p, buy rating kept [28 November]. BP: Nomura keeps neut
Read moreTuesday tips round-up: Senior, Johnson Matthey, Cove
29th Nov 2011 07:31
The timing is auspicious for Senior's purchase of Airbus-parts supplier Weston, as the market for large commercial aircraft is just starting to take off, notes Tempus in The Times. The deal, at £54m, or the equivalent of one year's sales or eight times' annual earnings, might look an expensive one,
Read moreBroker snap: Nomura resumes coverage of BHP at buy
28th Nov 2011 11:45
Analysts at Nomura have this morning published a research note highlighting how, in their opinion, fear has provoked a divergence between investor sentiment and mining valuation fundamentals. Thus, they argue that mining equities are already pricing in further falls (in commodity prices) and that v
Read moreMonday broker round-up
28th Nov 2011 10:52
Burberry: UBS keeps at neutral, cuts target to 1,250p from 1,450p BHP Billiton: Nomura reinitiates coverage at buy; raises target to 2,500p from 2,400p. Rio Tinto: Nomura reinitiates coverage at buy; establishes a target of 97p. Xstrata: Nomura keeps at buy; cuts target to 1,500p from 2,200p. EN
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