London midday: Footsie posts good gains
15th Jul 2009 12:17
London's blue chips are now pushing on strongly ahead of what is expected to be a strong start on Wall Street after the good numbers last night from chipmaker Intel. Over here, it is the turn of insurer RSA to enter the frame as a takeover target, with Italy's life assurance group Generali touted a
Read moreAussie PM warns China in Rio spy row
15th Jul 2009 12:07
Australian Prime Minister Kevin Rudd waded into the Rio Tinto spy scandal, warning China about its behaviour over the incident just as Aussie miners stop shipments of iron ore to China's steel producers. China has attracted criticism following its decision to arrest four Rio Tinto employees, one of
Read moreSector movers: Metal rally boost miners
15th Jul 2009 09:33
News from mining stocks is mixed today, but higher metals prices lift the sector. Production jumped 19% at Hochschild during the second quarter, putting the Latin America-focused precious metals miner "firmly on track" to hit its full year production target of 28 million silver equivalent ounces.
Read moreLondon open: Early gains for blue chips
15th Jul 2009 08:59
London is pushing on buoyed by yesterday's recovery in the US from an early loss to 27-point gain by the close of play. Better than expected results from Intel and Goldman Sachs appear to have whetted investors' appetites for equities. Land Securities is going well after it said it is beginning t
Read moreLondon pre-open: Move higher expected
15th Jul 2009 07:36
It looks like being a bright start for London on Wednesday following yesterday's recovery in the US from an early loss to 27-point gain by the close of play. Better than expected results from Intel and Goldman Sachs appear to have whetted investors' appetites for equities. Futures prices indicate a
Read moreRio Tinto cuts aluminium output
15th Jul 2009 07:03
Miner Rio Tinto continued to experience "difficult" conditions at its aluminum business during the second quarter, with production there down 5% on the same time last year. Aluminium enjoyed a slight improvement on the first quarter, though, falling to 942,000 tonnes, 1% lower than the first three
Read moreLondon close: Stocks pull out of tailspin
14th Jul 2009 17:09
Indecision on Wall Street prompted a spell of profit taking in the UK in the middle of the afternoon session which threatened to wipe out the morning's gains, but London's blue-chips rallied at the death to keep the Footsie in the blue. Mining stocks were the best performers with silver miner Fresn
Read moreLondon afternoon: Footsie climbs despite weak retailers
14th Jul 2009 14:10
London's leading shares continue to edge higher, with sentiment given a boost in the afternoon by expectations of a moderately firm start on Wall Street and a strong set of second quarter results from US bank Goldman Sachs, which announced record revenues. Mobile phone giant Vodafone, the third lar
Read moreFTSE 100 movers: Vodafone knocked by UBS downgrade
14th Jul 2009 12:36
Vodafone is losing share in three of its four main European markets according to UBS, which has downgraded its rating of the mobile phone giant. The Swiss bank believes the stock is a short-term sell and has switched its medium-term recommendation to "neutral" from "buy" while cutting its price tar
Read moreLondon midday: Early gains are consolidated
14th Jul 2009 12:11
The Footsie is trading sideways, holding on to gains after a bright start. Inflation data was much as expected, with the inflation rate falling below the Bank of England's 2% target for the first time since September 2007 last month. The Office for National Statistics (ONS) revealed a drop in consu
Read moreLondon open: Early gains for Footsie
14th Jul 2009 08:41
London's blue chips have made early gains after the hundred-point plus surge on Wall St overnight. Miners are leading the way with Fresnillo, Lonmin, Xstrata and Rio Tinto all going well. Defensive stalwarts are the weak spots with Diageo, Imperial Tobacco and Reckitt Benckiser all lower. Enginee
Read moreChina widens Rio bribery probe
14th Jul 2009 07:56
China's probe into alleged bribery and spying by employees working for Rio Tinto has now been widened to include executives at five steel groups based in the country. Baosteel, Anshan Iron & Steel, Laigang and Jigang are the latest steel producers to be investigated into possible rigging of iron or
Read moreLondon close: Footsie falls for fourth week
10th Jul 2009 17:04
London's blue-chip index fell for the fourth week in succession, with insurance and resource stocks the major fallers today. Aviva was the biggest casualty as fears resurfaced about the future of the company's dividend but its fellow life assurance stocks Prudential, Standard Life, Legal & General
Read moreFTSE 100 movers: Life stocks head lower
10th Jul 2009 15:38
Life assurance stocks feature among the weakest performers as global markets continue to drift lower. Aviva, Prudential and Standard Life suffer the biggest falls in the sector. In the mining sector Rio Tinto is still under a cloud after four of its employees were arrested in China. Home Retail G
Read moreLondon afternoon: Equities drift down in quiet trading
10th Jul 2009 14:06
London equities are sleepwalking to a dull end to a dull week. Life assurance stocks feature among the weakest performers as global markets continue to drift lower. Aviva, Prudential and Standard Life suffer the biggest falls in the sector. In the mining sector Rio Tinto is still under a cloud aft
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