London close: Footsie jumps over 3% to finish above 5,100
5th Oct 2011 16:37
The Footsie finished near its intraday highs, as it jumped back towards the 5,100 level, after a modest start on Wall Street. Global sentiment was lifted last night after on the back of comments from the European commissioner for economic and monetary affairs. In an interview with the Financial Ti
Read moreFTSE 100 Movers: Miners leading the way
5th Oct 2011 16:10
Mining companies - sensitive to swings in the global economic outlook - were heading north after markets were buoyed by the news that European Union finance ministers agreed on a plan for the co-ordinated recapitalistion of finance institutions. Xstrata, Vedanta Resources, Kazakhmys, Rio Tinto and
Read moreLondon midday: Retailers in focus, markets shrug off Italian downgrade
5th Oct 2011 12:09
Outweighing concerns over Italy's credit rating were hopes that the Europe will strengthen its struggling banks as stock markets across the continent extended their gains at lunchtime on Wednesday. In London, the Footsie was trading well over 2% higher, following on from a dramatic rally on Wall St
Read moreLondon open: Footsie jumps back above 5,000, retailers mixed
5th Oct 2011 08:37
The Footsie has clawed its way back over the 5,000 level on Wednesday morning, with just four stocks registering losses, following on from a dramatic rally on Wall Street late Tuesday night. Driving the bull market in the last hour in the US - which saw the Dow swing 400 points - were reports from
Read moreLondon midday: Stocks off intraday lows after manufacturing data
3rd Oct 2011 12:13
While losses have been trimmed since the open, Greek deficit fears continued to weigh on stocks at midday, with the banking peers Standard Chartered, Barclays and Royal Bank of Scotland among the heaviest fallers. Banks across Europe joined in with the sell-off, with French lenders BNP Paribas and
Read moreLondon 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
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