London close: US optimism lifts blue chips
13th Aug 2009 16:32
Optimism over the state of the US economy, fuelled by yesterday's statement from the Federal Reserve helped Footsie post good gains. Miners were in demand. Kazakhmys led the mining sector higher, with Xstrata, Lonmin, ENRC, Rio Tinto, Vedanta, and Antofagasta also going well. Anglo American is
Read moreLondon afternoon: Advance slowed by US retail sales data
13th Aug 2009 14:15
Optimism over the state of the US economy, fuelled by yesterday's statement from the Federal Reserve that the US economy may have seen the worse of the recession, took a knock from the release of US retail sales figures which unexpectedly showed a fall in July. The news took the shine off some of th
Read moreLondon midday: Shares hold on to early gains
13th Aug 2009 12:17
The Footsie has been trading sideways since around 10:00am after a bright start that was inspired by yesterday's statement from the Federal Reserve that the US economy may have seen the worse of the recession. The news has spurred demand for commodities stocks on expectations that a recovery in the
Read moreRio's Cloud Peak makes new IPO application
13th Aug 2009 09:30
Rio Tinto's US coal business Cloud Peak Energy has filed an application with the Securities and Exchange Commission (SEC) for an IPO worth as much as $500m. The move follows a previous application for a $1bn float about a year ago, then one for a less ambitious $250m fundraising last autumn. Cloud
Read moreLondon open: Miners help early rise
13th Aug 2009 08:17
London's top stocks have made a positive start to the day after upbeat economic data from the Continent and a strong performance on Wall Street last night. Figures out this morning showed that Germany and France staged an unexpected return to economic growth in the second quarter of the year, rais
Read moreLondon close: Stocks near session high
12th Aug 2009 16:14
Footsie closed near a session high on Wednesday as London's top stocks continued to add to gains in afternoon trade, with banks among the best performers. Lloyds Banking finished up more than 6%, closely followed by fellow part-nationalised lender Royal Bank of Scotland . The FSA unveiled a new co
Read moreLondon afternoon: Gains trimmed
12th Aug 2009 14:10
London is clinging onto positive territory as Wall Street gears up for a slow start ahead of tonight's Federal Reserve policy statement. Banks continue to do well. Royal Bank of Scotland agreed to sell its Pakistan unit to MCB Bank for $87m (£53m). The UK lender, 70%-owned by the British governmen
Read moreLondon midday: Footsie rallies despite BoE caution
12th Aug 2009 12:16
Footsie has rallied despite a mixed morning for UK economic news with unemployment hitting a new 14-year high and low key comments about UK recovery from the Bank of England. In the central bank's quarterly inflation report, Bank governor Mervyn King said the sustainability and strength of any reco
Read moreLondon open: Dull start for Footsie
12th Aug 2009 08:45
London's leading share index is in reverse gear again as the banks drift lower with miners also weak after BHP Billiton's figures and four Rio executives being charged with bribery by China. Full-year profits have halved at miner BHP Billiton as the recession slashed volumes and sent prices tumbli
Read moreWednesday newspaper round-up: Bank bonuses, Rio Tinto, Dividends
12th Aug 2009 06:20
The City watchdog may come under fire today for softening its proposals on bankers' bonuses. The Financial Services Authority will say it has abandoned some of the more draconian proposals it suggested in its March consultation paper, on the grounds that it could hurt the City's competitiveness. Pu
Read moreLondon close: Struggling Footsie finishes lower
10th Aug 2009 16:41
Footsie fought to lift itself into the blue all day but remained in the red as banks and miners weigh on the index. Lloyds Banking, which is apparently mulling a £15bn fundraising to keep down the cost of insuring toxic debt with the Government, fell. Reports in the weekend press suggest the Treasu
Read moreSector movers: Miners retreat
10th Aug 2009 15:20
Mining stocks fall back, including Rio Tinto, which was accused by China of overcharging the country's iron mills by over $100bn over the past six years. The allegations were published by the National Administration for the Protection of State Secrets, which claimed Rio Tinto had spied on Chinese s
Read moreLondon afternoon: Stocks still softer
10th Aug 2009 15:01
The Footsie continues to trade lower, but in a narrow range as weaker banks and miners easily offset gains among the insurers. Lloyds Banking is apparently mulling a £15bn fundraising to keep down the cost of insuring toxic debt with the Government. Reports in the weekend press suggest the Treasury
Read moreChina claims Rio overcharged by $102bn
10th Aug 2009 12:44
China ramped up its row with Rio Tinto's over alleged spying by its employees by another notch as it accused the miner of overcharging its iron mills by over $100bn over the past six years. The allegations were published by the National Administration for the Protection of State Secrets, which clai
Read moreLondon midday: Banks drift drags Footsie lower
10th Aug 2009 12:03
Banks are leading the Footsie lower amid talk that Lloyds is mulling a fund raising. Weekend reports said Lloyds Banking may raise up to £15bn from the stock market to keep down the cost of insuring toxic debt with the Government. The Treasury is understood to back the bank's tentative plans to ra
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