London open: Heavyweights drag Footsie lower
24th Sep 2010 08:57
Footsie has opened lower with the heavyweight sectors of banks and miners both heading south. Speculation over the power struggle at the top of global banking giant HSBC has dominated early proceedings in London. Reports suggest that current chief executive Mike Geohegan will leave at the end of th
Read moreLondon pre-open: Sparks fly at HSBC
24th Sep 2010 07:33
Speculation over the power struggle at the top of global banking giant HSBC is likely to dominate early proceedings in London. Reports suggest that current chief executive Mike Geohegan will leave at the end of the year after failing to get the job of executive chairman. City traders suggest the FT
Read moreRio Tinto to expand Pilbara
24th Sep 2010 07:11
Rio Tinto is to plough US$230m into its operations at the Dampier Port in Western Australia to expand capacity. The expansion will result in an additional 5m tonnes annual capacity (Mt/a), taking total annual capacity for the Pilbara region to 230 Mt/a in the first quarter of 2012. This investment
Read moreLondon close: Stocks close lower as rally fizzles out
22nd Sep 2010 17:00
Footsie gave up a brief rally to close in the red on an uncertain day's trading in the wake of Federal Reserve chairman Ben Bernanke's nervous comments on US economic prospects yesterday. Shares in the US moved lower despite having rallied earlier. Similar sentiments to those expressed by Bernank
Read moreLondon afternoon: Miners shore up Footsie
22nd Sep 2010 14:45
Leading shares made steady progress over the lunch time session returning the blue-chip index more or less back to where it finished overnight. Mining stocks are primarily responsible for the Footsie's level position, with industrial metal miners such as Antofagasta, Kazakhmys and Rio Tinto now do
Read moreLondon open: Bright start for blue chips
20th Sep 2010 08:37
UK blue chips have made good ground in early dealings with oil and mining groups in demand. BP is the top performer after the US coast guard signalled that the oil spill into the Gulf of Mexico has been permanently sealed. US authorities described the leak from the Macondo well in the Gulf of Mexic
Read moreFriday tips round-up: Kesa, Booker, BTG...
17th Sep 2010 06:46
Retailer Kesa was noticeably cautious yesterday, accepting that markets would remain "challenging" until next spring. The shares, well down from their peaks in 2009, sell on 11 times this year's earnings and enjoy a yield of about 5.6%. But even if you are tempted to invest in retail, there is bet
Read moreSector movers: Retailers rise as Next impresses
15th Sep 2010 15:24
Next is giving the retail sector a lift after results. The fashion retailer did pretty much as expected in the six months to July given that its last update was only a month ago, but the market is impressed nonetheless. Fellow fashion chain Marks & Spencer is up in sympathy. Kingfisher, the company
Read moreLondon close: Footsie makes round trip
14th Sep 2010 16:52
Footsie finished the day as it started it, marginally in positive territory, but for much of the day it languished in the red, as investors turned their attention to gold. The most actively traded contract in the yellow stuff has risen to a record high of $1,269.50 an ounce in New York trading, as
Read moreLondon afternoon: Public sector gloom lifts a little
14th Sep 2010 14:11
The afternoon session has been much like the morning one with Footsie drifting sideways. There has been some focus on companies that rely, in part, on contracts from the public sector, and the feeling is that the worries about the government tap being turned off may have been overdone. Telecoms
Read moreLondon midday: Busy going nowhere
14th Sep 2010 12:02
Footsie has been unable to make early gains stick and despite the strength of resource stocks is hovering close to its starting point for the day. Inflation data did little to boost sentiment, with the annual inflation rate remaining unchanged at 3.1% in August against expectations of a slight eas
Read moreLondon open: More gains for Footsie
14th Sep 2010 08:50
Footsie has defied predictions of a fall early on and has pushed on again. The index has been rising steadily now for nearly two weeks. Lloyds and Royal Bank of Scotland are two of the best performers as banks go well again in the wake of the new Basel III guidelines announced yesterday. Rio Tint
Read moreLondon pre-open: Footsie to ease after gains
14th Sep 2010 07:34
Footsie is expected to fall back slightly in early dealings after strong gains yesterday. Rio Tinto is spending US803m ramping up the block cave project at its Argyle diamond mine in Western Australia to take advantage of strong demand in emerging markets. The money will finance the move from an o
Read moreRio Tinto commits $803m to take Argyle underground
14th Sep 2010 07:02
Rio Tinto is spending US$803m (£522m) ramping up the block cave project at its Argyle diamond mine in Western Australia to take advantage of strong demand in emerging markets. The money will finance the move from an open pit operation to an underground mine that'll be up and running in 2013 and ex
Read moreSector movers: Miners on the march
13th Sep 2010 17:36
Mining stocks were strong as commodity prices advanced in line with strong figures from metal hungry China. Chinese industrial production jumped a better than expected 13.9% year on year in August, calming fears about the global slowdown. Aside from big-hitters such as Rio Tinto and Antofagasta, C
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