London close: Banks and miners drag Footsie lower
21st Jan 2010 16:30
Leading UK shares lurched lower in the afternoon as US shares weakened and investors waited nervously for President Obama's new bank reforms. The US President's proposals prohibit commercial banks from owning or investing in hedge funds or owning, investing or advising private equity funds, while a
Read moreLondon afternoon: Banks face 'tsunami' of pressure
21st Jan 2010 14:44
Leading shares traded sideways over the lunchtime session, albeit with a small dip at 1:30pm when the US market opened a tad lower. Banks and miners are impeding Footsie's progress, with the latter still friendless on concerns about demand from China. Pundits are predicting that the Chinese authori
Read moreLondon midday: Footsie ahead after mixed morning
21st Jan 2010 12:01
Footsie can't make up its mind this morning and after dropping into the red after miners gave up early gains the index is making good progress again. Xstrata, Rio Tinto, Anglo American, Fresnillo, Kazakhmys and Vedanta Resources remain the main blue chip fallers on concerns about demand from China.
Read moreLondon close: Healthy gain for Footsie
14th Jan 2010 16:26
London blue chips rose near the close to finish the day handily ahead, despite a disappointing response to the latest retail updates. Primark and British Sugar owner Associated British Foods was one of the few risers. The group had a better than anticipated end to 2009 and expects a 'significant in
Read moreFTSE 100 movers: Miners on the up again
14th Jan 2010 15:29
Miners kept Footsie in the blue yet again, with Xstrata, Rio Tinto, Kazakhmys and Antofagasta among the best performers. Rio Tinto hailed another very strong quarter for iron ore production, driven by continuing high demand from China' as it published its fourth quarter operations review. The comp
Read moreLondon afternoon: US data hits London
14th Jan 2010 14:28
Disappointing US retail sales for December had repercussions this side of the pond, prompting the morning's gains to be pared. US retail sales fell by 0.3% month-on-month in December, against expectations of a slight rise. Miners remain wanted with Xstrata, Rio Tinto, Kazakhmys and Antofagasta am
Read moreLondon midday: Miners lift Footsie
14th Jan 2010 12:08
Footsie is in the blue as strength in the mining sector offsets weakness among retailers following a stream of updates from the sector. Xstrata, BHP Billiton, Rio Tinto, Kazakhmys, Eurasian Natural Resources and Antofagasta are all among the best performers. Rio Tintohailed another very strong qu
Read moreLondon open: Miners leading the way
14th Jan 2010 08:25
Miners are leading London's top stocks higher in early dealings on a busy day on the company news front. Xstrata, Vedanta Resources, BHP Billiton, Rio Tinto, Kazakhmys, Eurasian Natural Resources and Antofagasta are all among the best performers. Rio Tinto hailed another very strong quarter for ir
Read moreLondon pre-open: Strong performance in store
14th Jan 2010 07:50
It's been a hectic start to the day with mostly favourable trading updates from the big hitters. Share prices look set to follow Wall Street's lead and open higher, with the FTSE 100 index expected to open up 47 points higher at 5,520. Mining giant Rio Tinto hailed 'another very strong quarter for
Read moreRio Tinto sees recovery, cautious on 2010
14th Jan 2010 07:02
Mining giant Rio Tinto hailed ‘another very strong quarter for iron ore production, driven by continuing high demand from China’ as it published its fourth quarter operations review. The company’s global iron ore production was 49% higher in the fourth quarter of 2009 than in the final quarter of 2
Read moreLondon close: Footsie finishes below 5,500
12th Jan 2010 17:17
Equities staged a rally in the afternoon session but it was not enough to push the Footsie back into the black, largely because of weak miners, which took fright at moves by the Chinese central bank to cool down the economy by increasing the reserves ratio for Chinese commercial banks. Fresnillo, L
Read moreLondon afternoon: Chinese banking move sparks selling
12th Jan 2010 14:47
News that China has raised the reserve requirements for its banks in an attempt to choke growth in the economy has spooked global markets, including London. The prospect of China slowing down economic expansion does not sit well with miners such as Fresnillo, Lonmin, Kazakhmys, Vedanta and Xstrata,
Read moreLondon midday: Retreat picks up pace
12th Jan 2010 12:11
The market's retreat is picking up pace, as the losses suffered by miners lengthen in the wake of disappointing results from Alcoa, the US aluminium producer. Alcoa, which kicked off the fourth quarter earnings reporting season in the US, declared a slightly worse than expected loss from continuing
Read moreLondon close: Footsie gives up gains
11th Jan 2010 16:41
The leading share index gave up early gains to finish only slightly higher as euphoria over strong trade figures from China in December gave way to renewed fears over recovery prospects. China's December imports jumped by 55.9% from the same month the previous year, while exports were 17.7% higher
Read moreLondon afternoon: Stocks back on the climb
11th Jan 2010 14:16
Leading shares, which had been surrendering early gains at the end of the morning, picked up again over the lunch time session, helped by expectations of a firm start by Wall Street. In the absence of much in the way of corporate events to attract attention, traders have been focused on broker note
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