London open: Currency issues lift miners
25th Oct 2010 08:48
Blue chip rose sharply as the softer dollar lifted commodity prices higher. Most Asian markets did well as the G20 economic powerhouses promised to work together to avoid "competitive devaluation" of currencies. That has been interpreted as a signal for the dollar to slide further, which has encou
Read moreLondon close: Footsie shrugs off spending cuts
20th Oct 2010 16:51
A strong performance on Wall Street breathed life back into Footsie after the leading share index suffered a weak spell following the Compehensive Spending Review (CSR). One sector to give the CSR the thumbs up was bus companies such as Stagecoach, Go-Ahead, FirstGroup and National Express. The sub
Read moreLondon afternoon: Shares drift lower
20th Oct 2010 14:21
Shares turned south over the lunchtime session though it is difficult to ascribe any of the losses to the impact of the Comprehensive Spending Review, much of which was widely as expected. Mining stocks are doing their bit to counteract the effects of Footsie stalwarts BAE Systems, Smiths Group and
Read moreFTSE 100 movers: S&N heads risers
20th Oct 2010 13:18
Medical devices supplier Smith & Nephew has won its appeal over a patent dispute with Kinetic Corporation. A court in Texas says that the wound management patents are "invalid due to obviousness". S&N has already won similar cases in the UK and Germany. Xstrata has given the thumbs up to the $710
Read moreLondon midday: Shares sit higher ahead of Spending Review
20th Oct 2010 12:39
Shares are still sitting in the blue as trader's prepare themselves for chancellor George Osborne's Comprehensive Spending Review. The leading share index moved into positive territory after minutes from the Bank of England's Monetary Policy Committee meeting earlier this month showed that one memb
Read moreLondon open: Nervous wait for spending review
20th Oct 2010 08:54
An overnight slump on Wall Street has made for a muted start as investors wait for minutes from the Bank of England's last policy meeting and the government's spending review. The coalition's Comprehensive Spending Review is fully expected to be a bloodbath, but the City will want clear evidence th
Read moreLondon pre-open: Small retreat predicted
20th Oct 2010 07:27
An overnight slump on Wall Street looks like upsetting London in early deals, but all eyes will be on minutes from the Bank of England's last policy meeting and the government's spending review. The FTSE 100 is expected to open down just 12 points despite a 165-point dive in the US Tuesday. Trader
Read moreRio pumping extra $3.1bn into Pilbara
20th Oct 2010 07:03
Rio Tinto has earmarked another US$3.1bn (£2bn) for its Pilbara operations, doubling new investment there just days after the company scrapped its iron ore joint venture with BHP Billiton. The mining giant, which is chipping in $2.1bn (£1.3bn) of its own money, says the move will increase annual in
Read moreWednesday tips round-up: BAE Systems, Chemring, Rio Tinto...
20th Oct 2010 06:50
BAE, Europe's largest defence company, will update the City in a trading statement tomorrow on how it expects the defence spending review to affect its British operations. It would be reasonable to assume that its UK business will be broadly flat in the coming years as the upside from Typhoon, JSF
Read moreFTSE 100 movers: Chinese interest rate rise hits miners
19th Oct 2010 14:00
Miners are leading the market down today following a surprise rise in Chinese interest rates. Xstrata says that trading has been strong since the end of the first half. Coal, copper and nickel volumes were all good. Even so, the miner tops the worst performers. Rio Tinto continues to fall after
Read moreSector movers: Miners under pressure
18th Oct 2010 15:40
Miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in December of last year to establish a production joint venture covering the entire
Read moreLondon afternoon: Equities push on
18th Oct 2010 14:54
Leading shares added to the morning's gains over the lunch time session though miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in D
Read moreLondon pre-open: Heading south
18th Oct 2010 07:35
It's looking like a downbeat start to the week following Friday's losses on Wall Street and a far from certain performance in Asia. Investors - facing a 20-point drop for the FTSE 100 first thing - also have a crop of UK news to consider. Mining giants BHP Billiton and Rio Tinto have confirmed th
Read moreBHP and Rio give up on iron ore collaboration
18th Oct 2010 07:07
Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed iron ore joint venture is dead in the water. The companies had agreed in December of last year to establish a production joint venture covering the entirety of both companies' Western Australian iron ore assets, but the hoo
Read moreMonday newspaper paper round-up: Spending review, BHP/RIO, Betfair
18th Oct 2010 06:38
George Osborne is planning further big cuts in welfare spending this week, as part of an audacious drive to prove that the coalition can match Labour's pre-election pledge to protect key frontline services. The chancellor wants to squeeze the welfare budget, releasing cash for spending on those are
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