UPDATE: 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
Read moreLondon 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
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