London midday: Eurozone worries cast a shadow
19th Sep 2011 12:03
London's blue chip index is stuck below 5,300 points as the Eurozone saga rumbles on. Investors seeking a resolution to the problems were disheartened after a meeting of EU finance ministers in Poland on Friday failed to live up to expectations. "There is a firm 'risk-off' tone to the start of the
Read moreLondon open: Banks unwanted as euro worries continue
19th Sep 2011 08:43
London's blue chip index sank below the 5,300 level in the opening minutes on Monday, as the debt crisis in Europe took centre stage again, dampening sentiment. Investors seeking a resolution to the problems were disheartened after a meeting of EU finance ministers in Poland on Friday failed to li
Read moreRio Tinto invests in Australian iron ore
15th Sep 2011 08:10
Mining giant Rio Tinto has announced an investment of $833m in power and fuel supply projects as it ramps up its iron ore production capacity in Western Australia. The company aims to produce 283m tonnes of iron ore a year by 2013. It will invest a $417m share of a $520m investment on its integrat
Read moreLondon close: Stocks dive on euro worries
9th Sep 2011 16:55
The volatility continued heading into the weekend and stocks were nursing hefty losses at the close of play. The resignation of European Central Bank official Juergen Stark brought the Eurozone crisis into focus. Stark, a German, like many of his compatriots is unhappy about the Bank's policy of b
Read moreSector movers: Miners dragged lower by updates and metals prices
9th Sep 2011 16:04
The miners were out of favour on Friday, dragged lower by some announcements by blue chip metals producers and falling metals prices, Anglo American, the UK-listed multi-metal mining giant allegedly eyeing up a counter bid for Macarthur Coal, has walked away from the potential acquisition, accordin
Read moreLondon midday: Stocks fall after flat start
9th Sep 2011 12:06
Stocks have eased slightly as nerves set in ahead of this weekend's meeting of the G7 grouping of industrialised countries. Motor insurer Admiral is in the slow lane after saying it could see "a small proportion" of its profits put at risk under the government's plans to ban the payment of referra
Read moreLondon open: Footsie flat as investors show caution
9th Sep 2011 08:31
The Footsie opened unchanged from yesterday's close, with the markets digesting an underwhelming jobs speech by President Obama last night. Describing the stalling of US economic growth as a "national crisis", Obama unveiled his much-trailed American Jobs Act, which Obama pledged "will cut payroll t
Read moreRio Tinto invests $310m to boost production in Pilbara
9th Sep 2011 07:43
Multi-metal mining colossus Rio Tinto is to invest $310m to assure a sustainable water supply for its iron ore operations in Pilbara, Western Australia. The coastal water supply project is said to ensure a sufficient resource to help the expansion of annual production capacity up to the planned 333
Read moreLondon close: Another slide for FTSE 100
5th Sep 2011 16:48
Stocks were on the slide Monday, giving up many of last week's gains, with banks bearing the brunt of the selling. Bank shares fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's
Read moreLondon midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreLondon open: Banks take a hit in early trade
5th Sep 2011 08:38
The FTSE 100 opened up nearly 2% down with the banks falling heavily in early trading. The dive follows a tumble on Wall Street on Friday and Asia on Monday on the back of concerns over the global economy, as US payrolls were worse than expected. Meanwhile, Christine Largarde, the head of the Inte
Read moreLondon pre-open: More misery for London
5th Sep 2011 07:24
After taking a triple-digit tumble on Friday following worse-than-expected US jobless data for August, the top-share index is set to take another dive this morning, with City traders predicting the Footsie will open at around 5,200, down from Friday's close of 5,292. Mining giant Rio Tinto is to of
Read moreRio and Anglo lose interest in Palabora
5th Sep 2011 07:21
FTSE 100 mining giants Rio Tinto and Anglo American have announced that they are to offload their respective interests in South Africa-focused copper miner Palabora Mining Company. Rio currently holds a 57.7% stake in Palabora, while Anglo owns a 16.8% interest. "Rio Tinto is no longer the natur
Read moreSector movers: Vodafone rises on Greek deal
1st Sep 2011 13:46
Telecommunications stocks were heading north on Thursday with sector giant Vodafone rising higher, two days after it confirmed that it is talks to merge its Greek telecoms business with privately-owned rival Wind Hellas. Discussions with Largo Limited, the owners of Wind Hellas, were said to be at
Read moreLondon close: Stocks rally but finish lower
26th Aug 2011 16:41
Stocks rallied ahead of the close but finished slightly lower on a day that was dominated by uncertainty surrounding the Federal Reserve annual meeting. The Fed still has tools to stimulate the economy chairman Ben Bernanke said, while declining to provide details as to when they might be used. A
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