London open: Footsie heads lower
10th Aug 2009 08:50
London has opened lower with reports of Lloyds looking at a big cash call overshadowing bid talks restarting between Friends Provident and Resolution. Life insurer Friends Provident says it is now is close to agreeing a takeover by Resolution after the terms of the original offer were improved. In
Read moreMonday newspaper round-up: Rio Tinto, Lloyds Banking, Resolution
10th Aug 2009 06:10
China has accused Rio Tinto of spying on its steel industry for six years, costing the country Rmb700bn ($102bn) in excessive charges for iron ore. The remarks, contained in an editorial in the magazine of the National Administration for the Protection of State Secrets, indicate that Beijing's det
Read moreLondon close: Footsie ends week on a high
7th Aug 2009 16:16
Some better-than-expected jobs data hauled Footsie into the blue Friday afternoon, ensuring the leading share index continued its rally. The Labor Department said 247,000 jobs disappeared in July, far less than the 320,000 predicted by analysts and almost half the 467,000 reported in June. RBS rem
Read moreLondon afternoon: Footsie higher as US data lifts sentiment
7th Aug 2009 14:15
Wall Street has come to the rescue with better-than-expected unemployment report lifting sentiment in London as well. US futures are now expected to start up after the Labor Department revealed data that showed job losses slowing in July to 247,000 against expectations of a fall to 320,000 and agai
Read moreLondon midday: RBS ends banks good run
7th Aug 2009 12:26
Footsie is having a tough morning with banks running into profit taking after Royal Bank of Scotland issued what it describes as a 'poor' set of numbers. RBS made a £15m profit, but bad debts rocketed to £7.5bn and it warned results may not "substantially" improve until 2011. Losses attributable t
Read moreLondon open: Banks on back foot
7th Aug 2009 08:40
London got off to a weak start following last night's losses in the US and as investors tread carefully ahead of this afternoon's US non-farm payrolls. Banks are struggling after RBS published its half-year numbers. It made a £15m profit, but bad debts rocketed to £7.5bn and it warned results may
Read moreLondon open: Footsie on rise again
29th Jul 2009 08:47
London is back on a rising trend after yesterday's blip that ended the eleven day upward streak. A partial recovery in the US last night that saw Wall Street end with just a small loss has helped the mood. Results have been mixed. Reckitt Benckiser demonstrated again that it lives in a different re
Read moreWednesday newspaper round-up: Microsoft, ITV, Rio Tinto
29th Jul 2009 06:16
Microsoft and Yahoo are on the brink of sealing an online alliance that could create a more formidable rival to Google in the search business. The deal had yet to be formally concluded late on Tuesday but the major terms had been agreed in principle and, according to one person close to the discuss
Read moreLondon close: US surge extends Footsie's winning streak
23rd Jul 2009 16:32
Footsie's winning streak extended to nine days as US markets surged ahead on better than expected June home sales and forecast-busting results from a number of US household names. Trading had been quiet up until mid-afternoon, but as soon as the US markets started to pick up buyers returned in earn
Read moreLondon afternoon: Footsie regains 4,500
23rd Jul 2009 13:46
The Footsie's eight day winning streak looks set to become nine days as the blue chip index hit 4,500 again amid more gains for US stocks. On the positive side, miners Fresnillo, Kazakhmys, Vedanta Resources, Rio Tinto, BHP Billiton, ENRC, Xstrata and Lonmin are all among the top ten risers on hope
Read moreLondon midday: OfWat report dilutes equity strength
23rd Jul 2009 11:54
The Footsie's eight day winning streak is in danger of coming to an end today as utility companies weigh down the blue-chip index after water regulator Ofwat outlined proposals for lower water bills. The water regulator's draft proposals would see the average annual water bill fall by £14 to £330 b
Read moreLondon open: Water groups fall
23rd Jul 2009 08:17
London's top stocks have opened slightly lower, with utilities among the main fallers after Ofwat called for lower water bills. The water regulator outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities is leading the fa
Read moreThursday newspaper round-up: Stagecoach, GSK, Water groups
23rd Jul 2009 06:16
Stagecoach, the bus and train operator, was linked with a takeover bid for its crisis-hit rival National Express last night as FirstGroup, a third competitor, walked away from a possible deal, says the Times. GSK, Britain's largest pharmaceuticals company, could make up to £1bn from sales of its s
Read moreChina claims "sufficient evidence" against Rio four
22nd Jul 2009 12:06
Tension has heightened between China and Australia over the detention of four Rio Tinto staff after the Chinese government claimed it had sufficient evidence to support its accusations of bribery and spying. "I stressed that we have sufficient evidence showing that the individuals involved obtaine
Read moreLondon open: Cautious start after great run
22nd Jul 2009 08:53
A late recovery in the US has failed to get London off to a good start and Footsie is struggling to trade higher for the eighth day in a row. Miners are a major weak spot this morning. The underlying trend for metals demand is still being masked by restocking activity, according to BHP Billiton, an
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