London afternoon: Footsie bottoms out
14th Oct 2010 14:17
Leading shares trod water over the lunchtime session, leaving Footsie still stranded in the red. Banks remain in the doldrums. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls has unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices
Read moreFTSE 100 movers: Cash call fears hit banks
14th Oct 2010 14:00
Banks are leading the Footsie lower as investors worry that they will follow the lead of Standard Chartered and ask for more cash. RBS is the worst performer but Barclays and Lloyds are close behind. Miners are on the rise, except for African Barrick Gold, as metals prices are firming. Rio Tin
Read moreLondon midday: Downward drift quickens
14th Oct 2010 11:56
US markets may be expected to open firmer but London is determined to go its own way today, heading lower, despite a buoyant mining sector. Metal prices are back on the rise as the dollar heads in the opposite direction. That is not enough to prevent gold miner African Barrick Gold taking a tumble,
Read moreLondon open: Footsie builds on gains
14th Oct 2010 08:24
London has crept higher following yesterday's gains, with a stream of updates giving investors plenty to ponder. Starting with the bad news, African Barrick Gold has suspended 40% of the mining department at its Buzwagi mine in Tanzania following a fuel theft it suspects was an inside job. The shar
Read moreLondon pre-open: Advance expected to continue
14th Oct 2010 07:35
London is expected to pick up where it left off yesterday with solid gains foreseen. City traders think the FTSE 100 index will open about 17 points firmer. Mining stocks are in focus early on. The third quarter was more of the same for mining giant Rio Tinto with operations running at or close to
Read moreRio Tinto going flat out
14th Oct 2010 07:02
The third quarter was more of the same for mining giant Rio Tinto with operations running at or close to capacity. "This quarter we achieved record production in iron ore, alumina and coking coal," said chief executive Tom Albanese. Mined copper and gold were down 19% and 33% respectively on third
Read moreLondon close: Strong gains for FTSE 100
13th Oct 2010 16:36
Footsie moved up gear following a strong start on Wall Street, and was nearly posting triple-digit gains at trading's close. US stocks are going well following strong results from processor group Intel and banking giant JP Morgan and strong indications from the Federal Reserve that further stimulus
Read moreLondon afternoon: Still up over 1%
13th Oct 2010 14:45
The leading index broke above 5,750 briefly ahead of the opening bell on Wall Street, its highest since the end of April, led by a powerful mining sector. US stocks have started well - the Dow Jones is up almost 70 points - following strong results from Intel and JP Morgan and strong indications fr
Read moreFTSE 100 movers: Miners stimulated by US hopes
13th Oct 2010 13:31
Xstrata, Vedanta Resources, Anglo American and Rio Tinto are higher on hopes of a fiscal stimulus in the US. Oil services group Petrofac is upgraded to 'overweight' from 'equal-weight' by broker Morgan Stanley, which thinks business opportunities in Britain, Iraq and Algeria will boost the company
Read moreLondon midday: Footsie boards the Fed express
13th Oct 2010 12:05
Hints from the US Federal Reserve that it will resume its bond buying programme sooner rather than later galvanised the UK market in the morning session with mining stocks going particularly well. Xstrata, Anglo American, Rio Tinto and Antofagasta are the pick of a mining sector buoyed by the pros
Read moreLondon open: Wall St rally boosts Footsie
13th Oct 2010 08:48
Last night's recovery on Wall St following the Federal Reserve's hint at further stimulus measures has boosted London early on despite a big bank cash call. Standard Chartered, the emerging markets focused bank, is preparing for stricter capital requirements for banks with a £3.26bn cash call. The
Read moreLondon close: Footsie rallies but falls short
8th Oct 2010 16:37
Footsie made a late charge for positive territory ahead of the close, in line with buoyancy in the US, but fell just short. The positive performance in the US was in spite of non-farm payrolls declining 95,000 in September when they had been expected to remain virtually unchanged. The 'glass half f
Read moreLondon afternoon: Shares rally on QE hopes
8th Oct 2010 14:37
US jobless data proved to be much worse than expected, with non-farm payrolls declining 95,000 in September when they had been expected to remain virtually unchanged, but the 'glass half full' optimists have taken the view that this makes a resumption of economic stimulus by the Federal Reserve more
Read moreLondon open: Quiet start ahead of jobs data
8th Oct 2010 08:52
London has opened quietly as traders focus on the US where September's non-farm payrolls numbers are due to be released this afternoon. Expectations are for a 5,000 increase in non-farm payrolls, while the unemployment rate is expected to nudge up to 9.7% from 9.6% in August. Until those numbers a
Read moreLondon close: Higher finish for Footsie as miners march ahead
6th Oct 2010 16:48
It was the surge in US shares yesterday rather than today's nervous performance that provided a lead for Footsie, helping London's top share index close with good gains. A nasty jobs report sent jitters through US markets. Private sector employers cut 39,000 jobs in September, against a gain of 10,
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