London pre-open: Footsie set for strong start
21st Mar 2011 07:39
The firmer trend seen towards the end of last week has continued this morning as the situation in Libya looks like it is coming to a head while repair work gets underway at the damaged Fukushima Daiichi power plant in Japan. City traders predict the top share index could open around 70 points highe
Read moreRio extends Riversdale offer period
21st Mar 2011 07:17
Mining giant Rio Tinto is extending the acceptance period for its A$3.9bn bid for Australian coal miner Riversdale by three days. The extension applies both to the acceptance period, which now runs to 6 April, and the deadline by which more than 50% of Riversdale shareholders must accept the offer
Read moreRio Tinto's Riversdale bid backed by a third
18th Mar 2011 07:53
Rio Tinto has crept closer to getting enough backing for its improved $3.9bn (£2.4bn) offer for coal miner Riversdale, but it still needs at least one of its two big shareholders to say yes. It has received acceptances totalling 13.68% and has a relevant interest in 19.36% of the shares for a total
Read moreLondon close: Heavy losses despite recovery
15th Mar 2011 16:42
The FTSE 100 closed deep in the red Tuesday amid continuing worries over the situation in Japan, though losses were more than halved following a slide in the morning as nerves calmed. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation le
Read moreLondon afternoon: Stocks stabilise
15th Mar 2011 14:27
Leading shares remain deep in the red and the best that can be said is that the situation did not get materially worse over the lunch time session. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation leak and sparked panic selling on the
Read moreLondon midday: Slide continues in quake aftermath
15th Mar 2011 12:09
The blue chip index continues to be hurt by the crisis in Japan as sentiment remains battered by fears of a nuclear disaster. While off its lows for the day so far, the FTSE 100 still remains over 2% under at around 5,640, a level not seen this year. A third explosion at the Fukushima Daiichi nucle
Read moreAdditional disclosure by Rio satisfies accounting panel
15th Mar 2011 11:32
The Financial Reporting Review Panel of the Financial Reporting Council (FRC) has had Rio Tinto's accounts under review but it says it "regards its enquiries as concluded" after the mining giant added more information on environmental and social issues to its 2010 annual review. A complaint had be
Read moreWife of outgoing FD sells British Land shares
14th Mar 2011 17:19
Diane Roberts, the wife of British Land finance director Graham Roberts, has raised more than £1m by selling more than three-quarters of the couple's stake in the property investor. She sold 191,780 shares at 562.8p each, which raised £1.08m. The couple are left with 50,464 shares in British Land.
Read moreLondon close: Japanese concerns knock Footsie
14th Mar 2011 16:47
London closed near to its low for the day as a decline on Wall Street dragged the market lower later in the day and there were concerns about the possible effects of the Japanese earthquake on financial markets and global economies. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick o
Read moreLondon afternoon: Shares stuck lower as Japan casts shadow
14th Mar 2011 14:57
London's blue chips have turned lower again following falls on Wall Street as traders continue to mull the possible effects of the Japanese earthquake. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggrek
Read moreLondon open: Aggreko in demand in wake of earthquake
14th Mar 2011 08:47
Mining stocks are shoring up the Footsie but the blue-chip index is still in the red, despite the price of oil ebbing. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggreko, which may find its services c
Read moreRio Tinto half way to Riversdale success
14th Mar 2011 07:54
Rio Tinto's improved $3.9bn (£2.4bn) offer for coal miner Riversdale is a step nearer reality as the sector heavyweight increased its stake in the Mozambique-focused to more than a quarter. It told the Australian Securities Exchange the number of shares it either owned or had received acceptances i
Read moreLondon close: Footsie in full retreat
10th Mar 2011 16:57
Blue chips took a beating as investors focused on weak economic data from China and a downgrade for Spanish debt, rather than the Bank of England decision to keep its key lending rate at 0.5%. China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shut
Read moreLondon afternoon: Drugs firms provide some cheer
10th Mar 2011 14:47
Investors are finding plenty of reasons to be fearful but at least the Bank of England has stuck to the script and held its key lending rate at 0.5%. Otherwise, weak economic data from China and a downgrade for Spanish debt has put the situation in Libya into the shade today. China posted a trad
Read moreRio sweetens Riversdale bid
10th Mar 2011 08:15
Rio Tinto has enhanced its bid for Riversdale after losing patience with dawdling shareholders, which means it could end up paying A$3.9bn (£2.4bn) for the coal miner. The mining heavyweight, which first offered just $15 a share for Mozambique-focused Riversdale, had raised that to $16. Now it's pr
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