London open: Strong start for FTSE 100
3rd May 2011 08:32
Shares have hit the ground running following the long weekend. Hedge fund manager Man Group is setting the pace after it announced the launch of an AHL open-ended fund in Japan, Nomura Global Trend, which has raised $1.5 billion. The fund began trading at the end of April 2011. Catering giant Co
Read moreRio Tinto to delist Riversdale
3rd May 2011 07:26
Mining giant Rio Tinto signalled the end of its protracted takeover bid for Riversdale by announcing that the Australian coal miner would be delisted from the Australian Stock Exchange. Rio Tinto, which controls more than 73% of Riversdale's shares after a bid battle stretching back to Christmas 20
Read moreLondon close: Company updates lift FTSE 100
26th Apr 2011 16:33
Shares were boosted by well-received earnings news at home and overseas. Shares sprang into life after a sluggish start, helped by well-received updates from US giants such as carmaker Ford and conglomerate 3M. There were also a few big risers here in the FTSE 250. Shares in Heritage Oil jumped af
Read moreFTSE 100 movers: IAG tops the risers
26th Apr 2011 14:31
Airline IAG, luxury brand Burberry and chip giant ARM are the best performing blue chips. Rio Tinto is edging higher after coming 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. Meanwhile, sector
Read moreLondon midday: Calm before the storm
26th Apr 2011 12:07
Shares are little changed on a quiet beginning to a week that will spark into life tomorrow with a stream of updates and preliminary first quarter GDP figures. There are some interesting movers today though. Shares in Heritage Oil jumped after the oil explorer announced that it is buying back $100
Read moreLondon 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
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