London close: Greek talks bolster late recovery
17th Jun 2011 16:33
As European leaders seemed to come closer to a solution to the Greek crisis, sentiment was lifted across the continent with markets finishing higher across the board. Despite a poor start, London equities got a boost in the late morning period, helping the Footsie back above the 5,700 mark. A strong
Read moreFTSE 100 movers: Miners recover to lift the Footsie higher
17th Jun 2011 13:30
The miners are leading the comeback as metals prices recover slightly. Lonmin, Anglo American, Xstrata and Kazakhmys are among the best performers on the blue chip index, despite falling early on. Following the acquisition of an additional stake in Africa-focused coal miner Riversdale Mining, Rio
Read moreRio takes full control of Riversdale
17th Jun 2011 09:40
Following the acquisition of an additional stake in Africa-focused coal miner Riversdale Mining, Rio Tinto announced on Friday that it has now taken full control of the target, after months of deliberation and deadline extensions. On Thursday, India-based steel manufacturer Tata Steel sold its 26%
Read moreThursday tips round-up: Petrofac, Mouchel, Pennon
16th Jun 2011 07:03
Petrofac shares have experienced pretty much straight-line growth over the past year and had got to a stage, with a price-earnings multiple in the high teens, which was becoming hard to justify. The company has said that by 2015 it will double the basic profits earned in 2010. The shares look high e
Read moreLondon midday: Stocks bounce back
15th Jun 2011 12:10
The top share index headed back towards positive territory late in the morning after an earlier weak spell. Among the stocks moving higher is the property group British Land which is celebrating the government's decision not to list the Broadgate office development in the City of London. The compan
Read moreLondon open: FTSE 100 lower despite Sainsbury's rise
15th Jun 2011 08:22
Shares have edged slightly lower in a continuation of the uncertain trading seen in recent days. But supermarket group Sainsbury is going well after it saw like-for-like (LFL) sales growth in line with management's expectations in the 12 weeks to 11 June, though the growth rate was below some brok
Read moreLondon pre-open: Stocks off the boil
15th Jun 2011 07:41
After yesterday's strong showing London's blue-chips look set to start the day in more subdued mood, with City traders suggesting the Footsie will open around a dozen or so points down from last night's close. Supermarket group Sainsbury saw like-for-like (LFL) sales growth in line with management'
Read moreRio Tinto speeds up Pilbara iron ore expansion
15th Jun 2011 07:11
Mining giant Rio Tinto is speeding up the expansion of its iron ore operations in the Pilbara region of Western Australia. It is pumping in US$676m (£412m) to achieve capacity expansion to 333m tonnes a year in the first half of 2015, six months earlier than planned. The money will be used to devel
Read moreSector movers: ENRC leads miners lower
10th Jun 2011 15:17
The mining sector has taken a knock today, with blue chip metals producers providing a drag. Kazakhstan-focused miner Eurasian Natural Resources Corp is a heavy faller on further speculation of a major boardroom shake-up, as a result of indifferences with minority shareholders. On Wednesday, the
Read moreFTSE 100 movers: ENRC leads the decline
10th Jun 2011 13:54
Kazakhstan-focused miner Eurasian Natural Resources Corp is the heaviest faller on further speculation of a major boardroom shake-up, as a result of indifferences with minority shareholders. On Wednesday, the group initiated a "comprehensive review of its corporate governance" which saw four board
Read moreLondon close: Footsie falls as Greece and US fuel sell-off
2nd Jun 2011 16:55
Despite trading sideways for most of the day after a relatively sharp fall early on, the Footsie took another dive in late afternoon to finish over 1.3% lower. The mood was uneasy on Thursday as a result of sovereign debt fears in Europe and worrying news from the US, amid a host of underwhelming re
Read moreFTSE 100 movers: Johnson Matthey's results disappoint
2nd Jun 2011 15:45
Full-year profits from speciality chemicals group Johnson Matthey came in ahead of market expectations with good performances in all parts of the business. However, investors seemed underwhelmed as the stock sunk on the blue chip index on Thursday. The miners are falling lower, as metals prices dec
Read moreLondon close: FTSE 100 slumps after US jobs shock
1st Jun 2011 16:38
After a directionless start, the top share index fell deep into the red ahead of the close, with some unfavourable US economic data denting sentiment. Rio Tinto held out to finish with gains. The mining giant announced today that it is to establish a large-scale presence in commodity hungry China
Read moreFTSE 100 movers: Ex-div stocks provide a drag
1st Jun 2011 14:07
National Grid, Vodafone and Marks & Spencer were among the blue chips that went ex-dividend today, providing a drag over the lunchtime period. Mining giant Rio Tinto is trading higher after announcing today that it is to establish a large-scale presence in commodity-hungry China with the formation
Read moreLondon midday: Stocks seeking direction
1st Jun 2011 12:16
Stocks are uncertain which way to move after a rally that brought the top share index past the psychologically important 6,000 point barrier yesterday. Rio Tinto is doing its bit to keep the FTSE 100 close to that level. The mining giant announced today that it is to establish a large-scale presenc
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