London afternoon: Stocks drift lower
23rd Feb 2010 15:16
A weak opening on Wall Street has dragged Footsie lower, though the number of fallers among the blue-chip index's constituents barely outnumbers the risers. Wolseley is leading the risers, after surprising the market with an unscheduled trading update. The building supplies group said it expects p
Read moreLondon midday: Leading shares mixed
23rd Feb 2010 12:13
For the second day in succession the FTSE 100 has turned lower after a moderately bright start. Comments on the fragility of the UK economy from Bank of England governor Mervyn King have given investors pause for thought. King, appearing before a parliamentary committee, said: 'There have been some
Read moreLondon open: Shares start strongly
23rd Feb 2010 08:38
Shares have started strongly as company updates are given a warm reception. Shares in Wolseley jumped after the building supplies group said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to
Read moreRio unveils boring partners
23rd Feb 2010 08:33
Mining giant Rio Tinto has selected three more partners to work with it on its heavily automated ‘Mine of the Future’ programme. Aker Wirth, the equipment supplier focused on the resources industry, and power tools and assembly systems outfit Atlas Copco will individually work with Rio Tinto to dev
Read moreThursday Preview: Diageo, Rio Tinto, Smith & Nephew
10th Feb 2010 17:19
With the results from the major oil companies behind us, focus tomorrow will be on the producer of a different kind of 'black stuff', Guinness owner Diageo. Nomura is expecting the half-year report to be positive in tone, with the drinks brands giant, which also owns a wide range of spirits, guidin
Read moreLondon close: Third day of gains
2nd Feb 2010 16:39
A strong start in the US helped London rise for the third day in a row and finish at its highest in over a week, with commodity plays the pick of the bunch. Investors piled into miners as metal prices took off and brokers backed a further recovery in share prices. Eurasian Natural Resources (ENRC)
Read moreLondon afternoon: Stocks in consolidation mode
2nd Feb 2010 13:57
Leading shares drifted sideways over the lunchtime session, leaving the Footsie in the blue, largely thanks to the strength of miners, which are getting lots of love from brokers. Eurasian Natural Resources (ENRC), Kazakhmys and Rio Tinto, Lonmin, Xstrata and Anglo American are the best performers
Read moreFTSE 100 movers: BP gets a beating
2nd Feb 2010 13:11
BP shares are main sufferers on fourth quarter results that failed to hit market forecasts, but not all brokers are dismayed. Charles Stanley said the figures confirmed the difficult trading in the global refining industry but the operating performance remains good and cash flow performance encoura
Read moreSector movers: BP weighs on oil sector
2nd Feb 2010 11:44
The oil sector falls back after BP's fourth quarter results failed to meet expectations. Underlying replacement cost profit in the fourth quarter was up 70% on a year earlier at $4.38bn, but fell short of analysts' forecasts of around $4.7bn. Recovery in the major economies of the US and Europe is
Read moreRio Tinto completes Alcan sale
2nd Feb 2010 07:50
Miner Rio Tinto has completed the sale of its Alcan packaging business to Australian packaging firm Amcor for $1.95bn. The sale was announced last year as part of Rio's attempt to lower its debt burden following the £38.1m takeover of Canadian aluminium producer Alcan in 2007, which came ahead of
Read moreLondon close: Strong finish for FTSE 100
29th Jan 2010 16:38
Footsie gave up a recent weak spell to finish the week with good gains. Whitbread was the star performer. Following an investor day yesterday, Barclays Capital raised its price target on the Costa Coffee and Premier Inn owner to 1,700p from 1,600p. The broker thinks Whitbread will benefit from new
Read moreLondon midday: RBS unit sued for $8bn
29th Jan 2010 12:10
After a mid-morning dip blue-chips are on the rise again, though it is not the sort of advance that is likely to change investors' view that January was a month to forget. For once, the miners are not moving in lock step with each other. Sector giants Rio Tinto and BHP Billiton are firmer, while go
Read moreLondon open: Footsie tries to break losing streak
29th Jan 2010 08:48
London's blue chips have kicked on this morning despite the bad night for tech stocks on Wall Street. Huge numbers from Microsoft after the US market closed did restore some calm, while a rally by the miners has helped Footsie reverse its recent losing trend. Rio Tinto and Randgold lead the way. A
Read moreLondon close: US slide drags down Footsie
28th Jan 2010 16:45
London slumped near the close mirroring heavy falls in the US where technology stocks ran into heavy selling seemingly on disappointment with Apple's new iPad. AstraZeneca led the fallers after the Anglo-Swedish pharmaceuticals firm saw fourth quarter earnings rise 10% but warned that its predicted
Read moreLondon afternoon: Banks lead rally
28th Jan 2010 14:31
Blue chips put on a spurt over the lunch time session despite drugs giant Astra issuing disappointing fourth quarter figures. The Anglo-Swedish pharmaceuticals firm saw fourth quarter earnings rise 10% but warned that its predicted 2010 revenues would be hit by the loss of exclusive rights to sell
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