London open: Miners on the march
9th Dec 2010 08:44
The leading share index is posting good gains this morning, with the mining sector on the march as metals prices advance. Platinum specialist Lonmin leads the FTSE 100 higher. Copper miners Antofagasta, Kazakhmys and ENRC are also in demand, as are the Australian iron ore duo Rio Tinto and BHP Bill
Read moreLondon close: Footsie slips back on sluggish day
8th Dec 2010 16:56
Shares struggled to snap out of their earlier sluggishness all day, closing just a few points in the red. Bid-related activity was the main source of excitement. Medical devices group Smith & Nephew was swept more than 9% higher by talk of a possible acquisition. US private equity firms are though
Read moreLondon afternoon: Footsie loses grip
8th Dec 2010 15:19
The 5,800 level is under pressure as a weak start on Wall Street begins to drag London back into negative territory. Insurers Prudential, Aviva and Resolution are doing their best to keep the market's head above water, but losses in the mining sector - Rio Tinto, Randgold and Anglo American have fa
Read moreLondon close: Footsie advances as takeover activity excites
6th Dec 2010 16:56
Shares closed with decent gains as bid activity and higher oil prices whetted investor appetites. There has been no shortage of takeover news to keep traders occupied on an otherwise fairly quiet day. FTSE 250-listed De La Rue was the star performer. The banknote printer enjoyed a second wind Mond
Read moreLondon afternoon: Oil stocks give a lift
6th Dec 2010 14:24
Leading shares are mixed but the Footsie is clinging on to positive territory, largely on the strength of oil stocks, which advance as the price of crude oil moves to levels not seen in more than two years. There has been no shortage of takeover news to keep traders occupied on an otherwise fairly
Read moreLondon midday: Bid action boosts shares
6th Dec 2010 12:04
Shares are broadly higher, with bid activity in the mid-cap index helping to generate excitement. De La Rue has received a bid, the FTSE 250-listed banknote printer confirmed Monday, thought to be from French rival Oberthur Technologies. Talk is the all-cash deal valued the UK company, also respons
Read moreLondon open: Bid speculation enlivens dull market
6th Dec 2010 08:47
The prospect of mergers and acquisitions activity is livening up an otherwise sedate opening session for London. De La Rue has received a bid, the banknote printer confirmed Monday, thought to be from French rival Oberthur Technologies. Talk is the all-cash deal valued the UK company, also responsi
Read moreRio Tinto offers £2.2bn for Riversdale
6th Dec 2010 08:27
Rio Tinto has offered £2.2bn (A$3.5bn) for Riversdale Mining, a Sydney-based firm with interests in African coal. Riversdale confirmed Monday it had held talks with the Anglo-Australian mining giant about a deal valuing the business at A$15 a share. "The company has had discussions with Rio Tinto
Read moreSunday newspaper round-up: Glencore, Energy bills, RBS...
5th Dec 2010 10:38
Glencore, the world's biggest commodities trader, is poised for a £31bn float that should be one of the largest ever on the London Stock Exchange. The Switzerland-based group has lined up three investment banks ? Credit Suisse, Citigroup and Morgan Stanley ? to prepare for a stock market debut as e
Read moreLondon close: Lower finish after weak US jobs data
3rd Dec 2010 16:51
Footsie closed in the red after a sluggish day's trading, with the calm only briefly interrupted by jitters following weak US jobs data in the afternoon. Non-farm payrolls increased by 39,000 during the month, down from a revised increase of 172,000 in October and well short of expectations that ab
Read moreLondon afternoon: Footsie dives on US jobs data
3rd Dec 2010 14:30
Jobs growth slowed sharply in the US in November and unemployment unexpectedly rose, which was not the result the market had been hoping for. The data sent shares on this side of the pond into a dive, and pushed Footsie into the red. Non-farm payrolls increased by 39,000 during the month, down fro
Read moreLondon midday: Shares still sluggish ahead of US jobs figure
3rd Dec 2010 12:10
The strong gains of the past couple of days have given way to sluggishness as traders pause for breath and await US jobs data later in the afternoon. Non-farm payrolls in the world's biggest economy are due at lunchtime. In company news here, mining giant Rio Tinto is to be the junior partner in
Read moreLondon open: Lacklustre start ahead of US jobs
3rd Dec 2010 08:52
Footsie has drifted lower with the freezing temperatures and transport chaos keeping many City folk away from work. All eyes will be on the US non-farm payrolls report at lunchtime, but ahead of that data there has been some profit taking after the big gains of the previous two days. Mining giant
Read moreLondon pre-open: Cautious start ahead of US jobs data
3rd Dec 2010 07:33
London is set to creep higher at the outset but with the eagerly awaited US jobs data due out this afternoon investors look to be reluctant to over commit themselves. City traders expect the FTSE 100 will open up with a single digit rise. Mining giant Rio Tinto is to be the junior partner in a joi
Read moreRio Tinto in JV with Chinalco
3rd Dec 2010 07:05
Mining giant Rio Tinto is to be the junior partner in a joint venture with the Aluminium Corporation of China, better known as Chinalco. Chinalco, which is a major customer and shareholder of Rio Tinto, will own 51% of the joint venture (JV) which has been formed to explore mainland China for world
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