London open: Miners under pressure
26th Apr 2011 08:29
Trading has got off to a quiet start after the Easter break, though the mining sector is suffering from falling metals prices. However, it is news of a strike at its main mine that is hurting Hochschild Mining. The Argentine Mining Labour Association initiated the action at the San Jose silver and
Read moreLondon pre-open: Flat start expected
26th Apr 2011 07:49
London is expected to open moderately lower as traders ease back into action after the Easter break. City sources predict the Footsie will open around 10 points down from Thursday's close. Mining titan Rio Tinto has come to an agreement with the government of Guinea, paving the way for work to begi
Read moreGuinea gives green light to Rio's Simandou project
26th Apr 2011 07:05
Mining titan Rio Tinto has come to an agreement with the government of Guinea, paving the way for work to begin on the Simandou iron ore project in the southern part of the country. Rio's subsidiary, Simfer, is to pay $700m to the Guinean Public Treasury upon promulgation of Presidential Decrees gr
Read moreFTSE 100 movers: Autonomy tops risers on record earnings
21st Apr 2011 13:23
Data search software firm Autonomy is topping the risers after it posted record earnings in the first quarter as it benefitted from the increasing popularity of cloud computing, a means of storing data remotely. Retail giant Next is wanted after UBS hiked up its forecasts on a better margin outloo
Read moreSector movers: Mining stocks take a hit
15th Apr 2011 13:03
Mining stocks were under the weather today, as higher-than-expected inflation figures in China have led some to anticipate tightening measures by the government, which could have an impact on the demand in metals. Blue chips Vedanta, BHP Billiton and Rio Tinto are in the red. A big mover in the se
Read moreFTSE 100 movers: Banking shares head south
15th Apr 2011 12:37
The banking sector is heading lower today as sentiment sours after credit rating agency Moody's cut its rating for Ireland's sovereign debt by two levels to Baa3 from Baa1, while retaining its negative outlook. RBS, Lloyds and Barclays are among the worst performers. Also in the red are the blue ch
Read moreThursday newspaper round-up: IMF on banks, UK economy, BP
14th Apr 2011 06:07
Debt-laden banks are the biggest threat to global financial stability and they must refinance a $3.6 trillion "wall of maturing debt" which comes due in the next two years, the International Monetary Fund said in its Global Financial Stability Report. Many European banks need bigger capital cushions
Read moreLondon close: Retailers lift Footsie higher
13th Apr 2011 16:08
While the Footsie came off its daily highs, it still managed to post a gain of close to 1% as strong results from ASOS boosted the retail sector higher. Meanwhile, stocks were recovering from the 89 point sell-off yesterday, its worst one-day fall since mid-March. Strong growth overseas helped the
Read moreLondon midday: FTSE 100 wins back losses
13th Apr 2011 12:03
The top share index has won back most of yesterday's losses, with a rally in the mining sector driving the gains. Fresnillo leads the large cap miners higher. The Mexican miner's silver production slipped slightly in the quarter to 31 March, but expanded capacity at its Soledad-Dipolos mine helped
Read moreLondon open: FTSE 100 advances as miners rally
13th Apr 2011 08:30
A rally in the mining sector has dragged the top share index to within touching distance of the 6,000 point mark it has been bobbing around since the start of the year. Fresnillo leads the large cap miners higher. The Mexican miner's silver production slipped slightly in the quarter to 31 March, bu
Read moreRio counts cost of weather disruptions
13th Apr 2011 07:49
Mining colossus Rio Tinto said first quarter production in Australia was hit by the severe weather in the region but added that most operations are now getting back to normal. Global iron ore production on an attributable share basis in the first quarter was 3% lower than in the corresponding quart
Read moreLondon pre-open: Footsie to make assault on 6,000
13th Apr 2011 07:46
After yesterday's shake out buyers are expected to be back in force this morning with the FTSE 100 index tipped to open around 30 points higher, leaving a handful of points short of the 6,000 level. Mining giant Rio Tinto said first quarter production in Australia was hit by the extreme weather in
Read moreLondon close: Shares slump as worries resurface
12th Apr 2011 16:38
The top share index's losses were almost in the triple digits by the close of trade after a steady day of losses amid worries over global economic growth. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its
Read moreLondon afternoon: More losses after weak US start
12th Apr 2011 15:31
The top share index has run into further selling after a poor start on Wall Street. Worries over global growth have re-emerged. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its growth expectations this y
Read moreLondon midday: FTSE 100 slips below 6,000
12th Apr 2011 12:04
The top share index is back below 6,000 points as concerns over global economic growth weigh on sentiment. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its growth expectations this year from 2%to 1.7%. Me
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