London afternoon: Shares off the top
22nd Sep 2009 14:07
Shares drifted lower over the lunchtime session but are still up on the day, helped in no small part by the strength of miners, which are rising in line with firmer metals prices. Rio Tinto is wanted after it sold off another chunk of Alcan. The heavily indebted miner sold Alcan Composites, part of
Read moreLondon midday: Rio's assets sale continues
22nd Sep 2009 12:10
Miners continue to lead the market higher as investors return to the market after yesterday's pause for breath. Rio Tinto is wanted after it sold off another chunk of Alcan. The heavily indebted miner sold Alcan Composites, part of the Alcan Engineered Products division, to Swiss firm Schweiter Tec
Read moreSector movers: Miners resume rally
22nd Sep 2009 09:29
Mining stocks are going well as metals prices resume their rally after a pause yesterday. Among the risers is the FTSE 100 giant Rio Tinto, which said today that it is to continue its selling spree by selling Alcan Composites, part of its Alcan Engineered Products division. Selling news also boo
Read moreLondon open: Bright start for Footsie
22nd Sep 2009 08:46
London's blue chips have made good progress this morning, buoyed by Wall St clawing back some of Monday's early losses in late trading in the US. It is resource stocks that lead the way again. Tullow Oil has recovered from the profit taking of the past two days, while Lonmin and Fresnillo are leadi
Read moreLondon pre-open: Buyers to return
22nd Sep 2009 07:38
Last night's brave effort on Wall Street should help London claw back some of Monday's losses, according to early indications. The FTSE 100 is predicted to rise about 20 points early on after the Dow Jones narrowed its deficit to 41 points, helped by strength among heavyweight tech issues. Over he
Read moreRio Tinto sells another part of Alcan
22nd Sep 2009 07:21
Indebted mining giant Rio Tinto is to continue its selling spree by selling Alcan Composites, part of its Alcan Engineered Products division. The business is being sold for US$349m to Swiss company Schweiter Technologies. The deal is expected to complete by the end of the year once the regulatory f
Read moreLondon close: End of road for winning run
21st Sep 2009 16:21
London's six-day rally ended Monday after banks were sold on fundraising talks and as miners retreated on weaker metal prices. Part-nationalised lender Royal Bank of Scotland (RBS) was the biggest faller on reports it is mulling a share issue of between £3-4bn to reduce its dependence on the UK gov
Read moreLondon afternoon: RBS's rights plans disappoint
21st Sep 2009 14:26
Share prices are drifting lower as investors take stock following the market's recent strong run. Royal Bank of Scotland (RBS) is lower on reports that it is mulling a share issue of between £3-4bn to reduce its dependence on the UK government's toxic asset protection scheme (APS). Lloyds confirmed
Read moreLondon midday: Miners in a hole
21st Sep 2009 12:24
Investors took an opportunity to bank profits in what has been a quiet session for news, with miners wearing the worst of the losses. Weaker metal prices have Fresnillo, Xstrata, Kazakhmys, Vedanta and Rio Tinto deep in the red. Even Antofagasta is lower now despite a positive note from Goldman Sac
Read moreSector movers: Brighter economic outlook lifts miners
16th Sep 2009 12:33
Mining stocks are advancing on optimism an improvement in global economic conditions will fuel demand for raw materials. Sentiment was lifted by US Federal Reserve chairman Ben Bernanke who said the world's largest economy had 'very likely' come out of recession. ENRC, Rio Tinto, Xstrata and Lonm
Read moreLondon open: Bright start for Footsie
16th Sep 2009 08:42
London's blue chips have made a strong start following on from Wall St's rise after US Fed chief Ben Bernanke called the US recession over. Miners are pushing on in sympathy with Bernanke's comments led by the majors Xstrata, Rio Tinto and Anglo American. Tullow Oil is the best performer after the
Read moreLondon close: Footsie fights back
14th Sep 2009 16:34
After toiling in the red all day, Footsie made a late push into positive territory to close above the 5,000 point mark. Miners were weak spot. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile co
Read moreLondon afternoon: Resource stocks lose favour
14th Sep 2009 14:11
Resource stocks are friendless today as oil and metals prices shift into reverse. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile copper prices have fallen for the fourth day in a row on over-s
Read moreLondon midday: Footsie stuck in the red
14th Sep 2009 12:32
Miners continue to weigh on the leading share index. ENRC and Kazakhmys are lower. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the sector. Cooper prices have fallen for the fourth day in a row. Platinum refiner Johnson
Read moreLondon open: Dull start to week
14th Sep 2009 08:47
Footsie has dipped below 5,000 this morning with miners running into profit taking on talk that the recent metal price rally has run too far. Johnson Matthey, ENRC and Kazakhmys are the worst performers. Reports over the weekend suggested some commentators are concerned by the amount of speculative
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