London midday: Downward drift continues
10th Jul 2009 12:23
Equities continue to drift lower with blue-chips faring worse than second-liners. Better than expected Producer Prices data has limited the falls in London but expectations of a weak opening on Wall Street has not helped matters. UK producer output prices in June fell 0.2%, after rising 0.4% in May
Read moreLondon afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its clients to take advantage of recent share price weakne
Read moreTechnical Analysis: Commodity prices extend losses
8th Jul 2009 12:52
The rally in commodity prices over the last 4 months appears to have run its course with a number of important commodity indices starting to exhibit increased weakness. This weakness has translated across to equity markets on both sides of the Atlantic as both the FTSE100 and S&P500 have either br
Read moreBroker tips: Astra, Tullow, Miners
8th Jul 2009 12:02
Producers of generic alternatives to AstraZeneca's prostate cancer drug Casodex have been slow off the mark and this has created an unexpected windfall for the UK drugs giant. US drugs firms Mylan and Caraco received approval from the US Food and Drugs Administration (FDA) yesterday to start shippi
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
Read moreBroker snap: Bargains to be had in mining sector
8th Jul 2009 11:12
Mining stocks have fallen out of favour over the last month, with the sector down by one-seventh, and this has encouraged brokers Investec and Citigroup to advise clients to look at the sector for bargains. Investec has upgraded BHP Billiton and Rio Tinto from "hold" to "buy" in the wake of share p
Read moreLondon open: Down as banks await fate
8th Jul 2009 09:00
Footsie has slipped in early dealings after a three-digit fall on Wall Street last night. Miners are going well despite the fall on Wall St overnight led by Rio Tinto, BHP Billiton and Antofagasta. Banks will be in focus later on when Chancellor Alistair Darling unveils the government's White Pape
Read moreRio Tinto staff accused of spying by China
8th Jul 2009 08:13
Four Shanghai-based employees of Rio Tinto have been detained by China on spying charges, a move that threatens to spark a diplomatic row with Australia. The Australian government has called for urgent talks with the Chinese after it confirmed that Stern Hu, Rio Tinto's iron ore marketing chief in
Read moreWednesday newspaper round-up: Bank regulation, Rio Tinto, Marks & Spencer
8th Jul 2009 06:17
Banking executives will have their pay linked to long term profitability under new rules designed to prevent a repeat of last year's financial meltdown. Alistair Darling will tell MPs today that salaries will be aligned to the earnings and overall financial health of institutions when he presents h
Read moreFTSE 100 movers: Miners rally aids Footsie
7th Jul 2009 14:47
Miners have rallied with the pick-up in the Dow yesterday. Rio Tinto, Kazakhmys and Vedanta are leading the sector higher. AB Foods is lower after a Bank of America downgrade. It has cut its rating to "underperform" from "hold" after its strong performance over the past three months. Reports that
Read moreLondon close: Late rally fizzles out
6th Jul 2009 16:37
Footsie made a brief attempt to lift itself into the blue in late trading but finished where it spent most of the day: firmly in negative territory. Declining metal and oil prices took their toll on resource stocks. Copper miners Lonmin and Kazakhmys are among the big fallers, despite both stocks b
Read moreLondon afternoon: Defensives in favour as stocks slide
6th Jul 2009 14:26
Footsie is halfway to a triple digit fall as resource stocks drag the market lower, with many pundits suggesting that the market may have bounced back too far since it reversed course in March. Declining metal and oil prices are taking their toll on resource stocks. Copper miners Lonmin and Kazakhm
Read moreLondon midday: Miners drag Footsie down
6th Jul 2009 12:07
Resource stocks have dragged Footise lower and with Wall Street predicted to open lower there is little prospect of a transatlantic boost in the afternoon session. Declining metal and oil prices are taking their toll on resource stocks. Copper miners Lonmin and Kazakhmys are among the big fallers,
Read moreLondon open: Weak start for Footsie
6th Jul 2009 08:56
London has opened sharply lower in early deals as traders await the return of Wall Street, back after Friday's Independence Day holiday. Miners are the worst performers after concern that the poor US jobs data heralds more economic woe for the country. Xtrata, Rio Tinto, Lonmin and Fresnillo are wo
Read moreRio Tinto sells Alcan arm for $1.2bn
6th Jul 2009 07:28
Mining giant Rio Tinto has further cut its debt pile with the sale to US packaging firm Bemis of the US food packaging division of aluminium subsidiary Alcan fro $1.2bn. Bemis will pay a consideration of $1bn in cash and $200m in shares. Australian packaging Amcor, meanwhile, has said it is interes
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