Sector movers: Rio Tinto extends gains
11th Feb 2011 16:11
Mining stocks are doing well with giant Rio Tinto among the risers after it revealed record full-year profits yesterday, as well as a $5bn share buy-back and a 20% increase in the dividend. Today, the stock was given a lift by comments by Credit Suisse, which said that the buy-back is a good sign t
Read moreBroker tips: Rolls-Royce, Rio Tinto, SABMiller
11th Feb 2011 13:06
Valuation levels at Rolls-Royce are starting to look more compelling, according to Nomura, which reiterates its positive stance on the engine maker. The group delivered solid results yesterday, with profits 4% better than expected, despite challenging market conditions and the £56m financial charge
Read moreBroker snap: Buy-back brings comfort at Rio Tinto
11th Feb 2011 12:57
Credit Suisse says that Rio Tinto's recent $5bn share buy-back should settle concerns over its use of cash, keeping the stock on its 'Focus List'. The broker says that the buy-back, announced Thursday, is a good sign that the mining giant is willing to increase cash returns alongside a capital expe
Read moreFriday tips round-up: Rio Tinto, Rolls-Royce, Diageo...
11th Feb 2011 06:59
Rio Tinto, which in the bad days of spring 2009 had debts of $39bn (£24.2bn) after the badly timed purchase of Alcan in 2007, exited last year with just $4.3bn of borrowings, or gearing of 6%. It generated a record $23.5bn of cash last year, up 70% on 2009. This is by any standards a staggering tu
Read moreLondon close: Footsie lower as results disappoint
10th Feb 2011 16:29
Footsie staged a late rally to climb back over 6,000, but still ended the day lower amid a very mixed bag of company results. It was a day for corporates to keep their head down as even those companies posting good numbers got whacked. Miner Rio Tinto fell after record full-year profits, a $5bn sha
Read moreLondon afternoon: Footsie hovers around 6,000
10th Feb 2011 15:18
Footsie has slumped below 6,000 with insurers and miners featuring prominently among the laggards. Miner Rio Tinto is lower even though it had plenty to please shareholders, with record full-year profits, a $5bn share buyback and 20% increase in the dividend. The Anglo-Australian group made a net
Read moreFTSE 100 movers: Smith & Nephew bucks trend
10th Feb 2011 12:37
Medical products supplier Smith & Nephew reported a strong rise in 2010 profit as well as the departure of its boss. Smith & Nephew saw revenue in the final quarter of 2010 remain more or less unchanged from a year earlier at $1,066m. That brought full year revenue up to $3,962m, up 4% from $3,772
Read moreLondon midday: Shares stuck lower after Bank holds rates
10th Feb 2011 12:29
Shares remain firmly in the red following the Bank of England's decision to leave interest rates and quantitative easing unchanged. The Bank has kept interest rates on hold at a record low of 0.5% Mixed results have added to the unsettled mood. Drinks giant Diageo raised revenues in the six months
Read moreLondon open: FTSE 100 lower after mixed updates
10th Feb 2011 08:29
Shares are moving in both directions after updates, but the FTSE 100 is lower overall. Price rises and improved volumes in North America and continuing growth in emerging markets helped drinks giant Diageo lift revenues in the six months to December 31, but weakness in Europe resulted in profits m
Read moreRio Tinto profits triple
10th Feb 2011 07:46
Miner Rio Tinto had plenty to please shareholders Thursday, with record full-year profits, a $5bn share buyback and 20% increase in the dividend. The Anglo-Australian group made a net profit of US$14.3bn in 2010, up from $4.9bn the year before, as prices improved for almost all Rio's major commodit
Read moreLondon close: Good gains for FTSE 100
7th Feb 2011 16:40
Shares held onto their gains after a decent start on Wall Street to close well in advance of 6,000 points. Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profi
Read moreLondon afternoon: Gains pared
7th Feb 2011 14:19
Leading shares saw gains trimmed over the lunch time session but the Footsie remains comfortably in positive territory, due in no small part to the strength of mining stocks, Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp in
Read moreLondon midday: Miners push FTSE 100 past 6,000
7th Feb 2011 12:04
Strength in the miner sector has helped lift the FTSE 100 well above 6,000 points. Gold miner Randgold Resources as among the best performers after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profit befo
Read moreSunday newspaper round-up: Bank bonuses, BP, Pfizer...
6th Feb 2011 11:02
Britain's biggest banks are poised to pay out a combined £6bn in bonuses despite government demands for restraint on City pay. The size of the payout will embarrass George Osborne, the chancellor, who is hoping to announce a peace deal with the City this week that will include targets for lending t
Read moreLondon close: FTSE 100 back at 6,000
2nd Feb 2011 16:39
Strength in the mining sector on the back of higher metals prices and well-received updates drove the FTSE 100 back to 6,000 points. Both factors benefited miner Eurasian National Resources (ENRC). Production matched estimates in the fourth quarter of 2010, while the ferroalloys unit produced a bit
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