London open: Footsie drops below 5,000
3rd Oct 2011 08:29
The Footsie plummeted in early trading on Monday, dropping below the 5,000 level, as euro worries continue to dampen sentiment. Despite Greece's tough austerity measures, the debt-stricken country revealed on Sunday that it will miss its deficit target for 2011, as it unveiled plans for job cuts ac
Read moreMan bosses rally round
29th Sep 2011 15:06
Weakness in the share price of Man Group has prompted directors to splash out on big stakes in the hedge fund manager. Man Group, which sponsors the Man Booker literary price, saw a return to form of its flagship fund AHL in the second quarter of its financial year, as its 'alternative style' polic
Read moreRio shouts for more Ivanhoe
27th Sep 2011 07:15
Rio Tinto, the FTSE 100 mining giant, has lifted its shareholding in the Canadian firm Ivanhoe Mines to 49% of Ivanhoe's issued stock. Riot spent £73,075,000 buying 0.5% of Ivanhoe's issued share capital on the 22nd of September, lifting its stake to its maximum under current agreements. Ivanhoe,
Read moreFTSE 100 Movers: Vodafone boosted by new plans
23rd Sep 2011 12:28
Engineering firm Weir group was the biggest faller among FTSE 100 constituents after wiping more the £250m from its market value. The bad news looks set to continue throughout Friday as miners bear the brunt of the current economic turmoil. Worrying economic data from China added to the woes, with
Read moreLondon close: Markets dive on dismal global outlook
22nd Sep 2011 16:30
Gloomy comments from the Federal Reserve last night followed by even gloomier remarks by leading economists terrified the markets on Thursday, with benchmarks in the UK, Europe and the US suffering falls of between 3% and 5% as of 16:30. The FTSE 100 in London was nearly 5% down by the end of the se
Read moreSector movers: Commodity prices drop, miners unwanted
22nd Sep 2011 14:30
Mining stocks led the sell-off on Thursday as the US Federal Reserve yesterday painted a gloomy picture of the state of the US economy, dampening sentiment across global stock markets. "Information received since the Federal Open Market Committee met in August indicates that economic growth remains
Read moreFTSE 100 Movers: No risers, miners leading the fall
22nd Sep 2011 13:25
There were no risers on the FTSE 100 today, after the US unveiled a £250bn rescue plan to revive its flagging economy. Copper miner Antofagasta was the biggest faller, pushed lower by the news that Pakistan's Baluchistan province has voiced objections to a mining lease for a significant copper and
Read moreSector movers: Rio and the miners in the red
21st Sep 2011 15:01
The miners were the worst performers on Wednesday afternoon, with blue chips Antofagasta, Rio Tinto and BHP Billiton dragging the sector down. Rio Tinto reported that some customers have asked for deliveries of metals to be delayed, signalling that global economic weakness is hitting demand for com
Read moreFTSE 100 Movers: Lloyds rising high after FT report
21st Sep 2011 13:03
Lloyds Banking was topping the leaderboard after a report from the Financial Times which said that the firm is set to sell a portfolio of commercial property loans worth around £1bn. Lloyds has declined to comment on the matter. Mining giant Rio Tinto saw a drop in its share price after reporting
Read moreRio Tinto sees slowing metals demand
21st Sep 2011 10:21
Mining giant Rio Tinto has reported that some customers have asked for deliveries of metals to be delayed, signalling that global economic weakness is hitting demand for commodities. "It is noticeable that markets are somewhat weaker," Rio Tinto chief executive Tom Albanese is quoted as saying in t
Read moreUPDATE: Wednesday broker round-up
21st Sep 2011 08:52
Inmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read moreLondon midday: FTSE 100 climbs as stocks rebound
20th Sep 2011 12:23
Stocks have been steadily moving higher and are now posting strong gains in spite of Standard & Poor's downgrade of Italy. The rise comes after the leading share index suffered triple-digit losses yesterday. In a fresh blow to the debt-stricken area, the ratings agency) downgraded its rating on Ita
Read moreLondon open: Markets cautious as debt crisis rages on
20th Sep 2011 08:34
It was a flat start in London, as investors remained concerns with the escalating debt crisis in the Eurozone. In a fresh blow to the debt-stricken area, ratings agency Standard & Poor's (S&P) downgraded its rating on Italian sovereign debt by one notch on Monday night, citing poor economic growth
Read moreRio Tinto increases resource estimate at Utah asset
20th Sep 2011 07:42
Mining colossus Rio Tinto has increased its assessment of the mineral resources at its wholly-owned Kennecott Utah Copper Bingham Canyon Mine in the USA. After the company completed a new programme of surface drilling, the copper mineral resource estimate has been increased by 20m tonnes to 106m to
Read moreLondon close: Triple-digit losses as Euro worries continue
19th Sep 2011 16:50
Shares failed to recover from an early slide as ongoing worries over the Eurozone situation continued to cast a shadow. The FTSE 100 closed down 108 points. Greek Prime Minister George Papandreou has cancelled a planned trip to the US to guide Greece through what could be a critical seven day peri
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