London 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
Read moreLondon midday: Stocks slip but share-buying boosts Admiral
26th Aug 2011 12:18
Stocks have drifted into the red amid apprehension ahead of this afternoon's annual meeting of the US Federal Reserve. The results stream has slowed sharply, giving investors an opportunity to digest figures released earlier this week. AMEC, which yesterday reported a strong performance in its min
Read moreLondon open: FTSE 100 falls into red, markets await Bernanke
26th Aug 2011 08:31
The FTSE 100 fell into the red in early trading, with heavyweights AMEC, Resolution and ARM Holdings dragging the blue chip index lower, after a poor performance on Wall Street last night and a mixed session in Asia. Meanwhile, financials were on the rise, with Hargreaves Lansdown, Lloyds, RBS and
Read moreLondon pre-open: Flat start ahead of Bernanke speech
26th Aug 2011 07:17
Today is the big day of the week, with Federal reserve chairman Ben Bernanke set to make an eagerly awaited speech at the central bankers' conflab in Jackson Hole, Wyoming. Investors seem disinclined to commit themselves ahead of Bernanke's speech, with the Footsie expected to open barely changed.
Read moreCoal and Allied okays improved Rio offer
26th Aug 2011 07:04
The independent directors of Australian Stock Exchange-listed miner Coal & Allied have given the green light to plans by mining giant Rio Tinto and Japanese trading house Mitsubishi Corporation to take full ownership of the company. The decision to recommend an improved offer from Rio and Mitsubish
Read moreLondon pre-open: Wall Street's late surge provides boost
25th Aug 2011 07:19
The top-share index is set to open around 25 points higher as UK investors take heart from the late surge yesterday on Wall Street which saw US markets finish higher for the third day in succession and the Dow enjoy a triple-digit gain. International engineering group IMI saw headline profit before
Read moreRio Tinto ups Ivanhoe stake to 48.5%
25th Aug 2011 07:03
Mining behemoth Rio Tinto has exercised its right to acquire more shares in Asia-Pacific focused miner Ivanhoe Mines, taking its stake up to 48.5% from 46.5% previously. The price paid per share was C$18.98 and the total consideration for the exercise of this subscription right was C$529.5m. Rio
Read moreLondon close: Stocks slump again
18th Aug 2011 16:40
Volatility returned with a vengeance on Thursday, with the leading share index slumping back towards the lows it hit last week. The day got off to a bad start after a gloomy report on global economic growth from Morgan Stanley and things got worse after some more poor figures from the US. The glob
Read moreLondon midday: More losses amid global worries
18th Aug 2011 12:03
London's leading share index is nursing heavy losses now, with global worries over economic growth continuing to hurt sentiment. Miners are among the worst performers, with Kazakhmys, Vedanta and Rio Tinto deep in the red. FTSE 100 mining giants Anglo American, BHP Billiton and Xstrata also fall d
Read moreLondon open: Miners drag Footsie below 5,300
18th Aug 2011 08:34
Just five stocks were making gains at 8.35am on Wednesday, as the blue chip index opened below the 5,300 level. The miners were among the worst performers, with Kazakhmys, Vedanta and Rio Tinto among the heaviest fallers, partially offsetting the gains made yesterday. FTSE 100 mining giants Anglo
Read moreLondon midday: Stocks tumble as jitters grip markets
8th Aug 2011 12:14
London's leading share index has given up a short-lived rally and is posting triple-digit losses as nerves over the global economic situation grip the markets again. Mining giants such as Rio Tinto and ENRC are out of favour, though precious metal miners such as Randgold Resources and Fresnillo are
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