London close: Fed optimism bolsters Footsie gains
21st Aug 2009 16:31
Footsie finished with strong gains going into the weekend after US Federal Reserve chairman Ben Bernanke said prospects for a return to global growth look good. 'After contracting sharply over the past year, economic activity appears to be levelling out, both in the United States and abroad, and th
Read moreLondon afternoon: Footsie bursts through 4800
21st Aug 2009 14:15
Trading remains very thin in London but that has not stopped the Footsie from moving above the 4,800 level for the first time since October of last year. Insurance companies, with their huge investment portfolios, are naturally big beneficiaries of the continued market revival and they lead today
Read moreLondon midday: London's streak continues
21st Aug 2009 12:04
The wobble by global stock markets on Monday following last Friday's dismal US consumer sentiment figures seems a long time ago now as London looks well set to advance for the fourth day in a row. Insurance companies lead the advance in the wake of yesterday's surge by fallen US insurance giant AI
Read moreLondon open: Shares start lower
21st Aug 2009 08:17
London's top stocks have opened lower on profit taking ahead of the weekend and weaker Asian markets. Last night's gains in the US and yesterday's 10½ month high in London counted for nothing in the East today where stocks have tumbled. Hong Kong stocks were unsettled by fears the China's banking
Read moreLondon pre-open: Early slip in store
21st Aug 2009 07:39
UK blue chips are expected to give back a little of their recent gains early Friday, about 25 points, on profit taking ahead of the weekend and weaker Asian markets. Last night's gains in the US and yesterday's 10½ month high in London counted for nothing in the East today where stocks have tumbled
Read moreRio gets US clearance for Jacobs Ranch sale
21st Aug 2009 07:01
Mining giant Rio Tinto has received clearance from the US Federal Trade Commission on the pending sale of its Jacobs Ranch coal mine to Arch Coal. The deal is expected to close within the next six weeks. Rio announced the $761m sale of Jacobs Ranch, which shipped 42.1 million tons of coal in 2008
Read moreFriday tips round-up: Rio Tinto, ENRC, SIG
21st Aug 2009 06:13
Rio Tinto's earnings were hit in the first half with big losses in aluminium and diamonds while iron ore and copper profits were scythed. But Rio is cutting $1 billion in costs from its aluminium portfolio and the iron ore JV should deliver more cost savings. If you have a patient long-cycle view of
Read moreLondon close: Blue chips at 10½-month high
20th Aug 2009 16:28
A brace of better than expected US data reinvigorated markets early afternoon Thursday, helping London close at it highest since early October. The Philadelphia Fed manufacturing index rose to +4.2 in August from -7.5 in July, while the Conference Board's index of leading economic indicators rose 0
Read moreLondon afternoon: Prices bubble over
20th Aug 2009 14:14
Equity prices came off the top over the lunch-time session but remain firmly in the blue, albeit in thin trade, largely due to the strength of miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lowe
Read moreBroker tips: Rio Tinto, WPP, TT Electronics
20th Aug 2009 13:01
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year, particularly in the area of debt reduction. The overall tone of the
Read moreBroker snap: Rio a viable alternative to BHP
20th Aug 2009 12:42
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year. Jackson is a lot more comfortable with the current level of financi
Read moreLondon midday: Retail sales give a boost
20th Aug 2009 12:10
July's retail sales figures have given a lift to an already buoyant equity market. Figures revealed sales grew 0.4% from June, putting the annual increase to 3.3%, the highest since May 2008. Economists had predicted a rise of just 0.2% for July following June's 1.2% gain and a 2.7% year-on-year imp
Read moreLondon open: Decent gains posted
20th Aug 2009 08:23
Decent gains posted by Footsie after the open with the early pacesetters financials, especially banks, and miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lower commodity prices amid tough econom
Read moreRio Tinto profits slump 50%
20th Aug 2009 07:19
Mining giant Rio Tinto saw profits fall by more than half in the six months to June 30 as it felt the impact of sharply lower commodity prices amid tough economic conditions globally. Pre-tax profits for the period totalled $4.39bn, compared with $9.82bn over the same period the previous year, as s
Read moreLondon pre-open: Rally to continue
20th Aug 2009 07:03
London is set to continue the firmer trend seen late in the afternoon session yesterday with sentiment boosted by Wall Street's strength yesterday and strong gains overnight in Japan and Hong Kong. City sources predict the FTSE 100 will open 45 points up from the previous close of 4,690. Mining gi
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