FTSE 100 movers: Miners among the wounded
28th Oct 2009 15:37
The list of blue chip fallers is littered with miners as the dollar's ongoing recovery sends commodity prices lower. Xstrata, Lonmin, Kazakhmys and Rio Tinto are nursing losses, while a fall in oil prices towards $78 a barrel has hurt Petrofac, BP and Shell. Insurer Prudential fell as a 22% dive i
Read moreLondon afternoon: Stocks steady at lower levels
28th Oct 2009 14:10
Miners and financials remain a dead weight around Footsie's neck, but elsewhere, leading shares are slowly beginning to claw back losses. Prudential, which saw a surge in US business but posted a fall in UK sales, is still among the heaviest fallers. The Pru lifted group-wide retail sales by 10% to
Read moreLondon midday: Miners join financials on the slide
28th Oct 2009 12:05
Miners have joined financial stocks in the dog house as the Footsie dives below 5200 and threatens to carry on going to sub-5100 levels. With metal prices in retreat miners such as Xstrata, Lonmin and Kazakhmys have muscled aside insurer Prudential in the race to be worst performing Footsie stock.
Read moreLondon open: Shares start down
28th Oct 2009 08:21
London's blue chips have opened lower as investors consider a slew of big corporate announcements and rumours surrounding the British banking sector. The European Commission is expected to approve plans to break up and sell Northern Rock, according to press reports. The Independent is quoting a Br
Read moreRio Tinto doubles Ivanhoe stake
28th Oct 2009 08:02
Rio Tinto has paid $388m for another 9.8% of Canada's Ivanhoe Mines after completing the second tranche of its private placement investment, taking its total interest to 19.7%. The mining heavyweight, which bought 46.3m shares at $8.38 each, could own 258m shares, or 43.1%, if it exercised and conv
Read moreLondon open: BP heads advance
27th Oct 2009 08:35
BP has helped investors get over last night's three-figure dive on Wall Street, leading London higher in early deals. Index heavyweight BP kicked off the oil majors results season with third quarter figures that showed a smaller than feared drop in profits. Profit attributable to shareholders came
Read moreLondon close: Footsie suffers reversal of fortunes
26th Oct 2009 16:21
Stocks had looked like making a decent start to the week, but a dramatic and sudden sell-off on Wall Street quickly sent London into the red. The Dow Jones turned an early three-digit gain into a 100-point loss as US analyst Dick Bove downgraded Fifth Third Bancorp, SunTrust Banks and US Bancorp.
Read moreLondon afternoon: Stocks get lift from Wall Street
26th Oct 2009 14:20
After crawling higher throughout the morning session London's leading shares received a boost from a firm start on Wall Street. The market is buoyant despite weakness in the banking sector, where the market is holding its breath for the anticipated cash call by Lloyds Banking. Elsewhere in the sect
Read moreLondon midday: Shire gives Footsie boost
26th Oct 2009 12:03
Footsie is sitting just above the zero mark, with drug group Shire given a boost by some positive regulatory news. Shire is one of the top risers after it announced that the US Food and Drug Administration (FDA) has affirmed its prior decision to grant five-year New Chemical Entity (NCE) exclusivit
Read moreLondon open: Shire drags FTSE higher
26th Oct 2009 08:36
Miners and drug group Shire are giving Footsie a lift in early dealings on Monday. Lonmin, Rio Tinto and Anglo American are among the best performing miners. Pharma firm Shire is leading the risers after it announced that the US Food and Drug Administration (FDA) has affirmed its prior decision to
Read moreBroker snap: Credit Suisse upgrades miners
23rd Oct 2009 12:57
Mining stocks were doing their bit to drive Footsie forward on Friday morning, helped by an upgrade on the sector by Credit Suisse, which now has a 'benchmark' rating for the miners, having downgraded the sector back in May. 'We upgrade mining because: a) global excess liquidity is at an all-time h
Read moreLondon close: Blue chips slip lower
16th Oct 2009 16:50
London's blue chips closed lower as investors used a 100 point plus fall for the Dow as an excuse to take profits. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutc
Read moreLondon afternoon: Stocks remain lower
16th Oct 2009 14:54
London's blue chips are still in the red in midday dealings after the Dow dropped more than 100 points in the US. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutch
Read moreLondon midday: Footsie gains evaporate
16th Oct 2009 12:07
London is back where it finished yesterday's session as a sell-off in the mining sector on weaker metal prices gathered pace near lunchtime. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning.
Read moreLondon close: Triple digit gains for FTSE 100
14th Oct 2009 16:36
Footsie ended with gains in excess of 100 points amid a backdrop of cheery economic news and encouraging earnings from the US. Shares started well after US chip-maker Intel smashed forecasts with its third quarter results, were given a boost by a smaller than expected rise in unemployment, then cli
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