London midday: Shares remain dull
3rd Jul 2009 12:02
Trading remains quiet in London, today after yesterday's excitement following dismal US unemployment figures. Friends Provident is the worst performing blue-chip as the market adjusts its share price to take account the demerger of its 52% stake in F&C Asset Management. Resource stocks are friendl
Read moreLondon close: Heavy losses for Footsie
2nd Jul 2009 16:37
Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures. WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% org
Read moreLondon afternoon: Slide accelerates after US open
2nd Jul 2009 15:00
Investors are bailing out of equities in the US ahead of the long holiday week-end in the States, prompting the decline in UK equities to pick up pace. Rio Tinto is the day's worst performer despite a strong response to its $15.2bn rights issue. Shareholders have taken up 96.97% of the shares offer
Read moreSector movers: Rio weighs on miners
2nd Jul 2009 14:34
Miner Rio Tinto shareholders have taken up 96.97% of the shares offered to them as part of the miner's $15.2bn fully underwritten rights issue. Major shareholder Chinalco has taken up its entitlement in full. Fresnillo, Anglo American and Lonmin are also lower. Meanwhile, Sierra Leone-focused mine
Read moreFTSE 100 movers: Miners hit by market wobble
2nd Jul 2009 14:27
Miners have run into more prpfit taking following very weak US jobs numbers. Rio Tinto, BHP Billiton and Anglo American lead the sector lower on fears that the US economy is struggling to turn around. US job losses showed unemployment rising to 9.5%, while the number of people losing their jobs ros
Read moreUpdate: Chinalco takes up Rio Tinto rights
2nd Jul 2009 12:11
Chinalco, Rio Tinto's biggest shareholder, has taken up its full entitlement to the miner's $15.2bn fully underwritten rights issue. The Chinese firm, which holds 9% in Rio, spent about $1.5bn on the shares. A Chinalco spokesman told the Financial Times that the group wanted to prevent the dilutio
Read moreLondon midday: Struggle for blue chips
2nd Jul 2009 12:11
London's top stocks are struggling to make headway with the index heading back down as buyers sit on the sidelines. London Stock Exchange is the biggest faller after it announced a new pricing scheme yesterday. The stock market operator says the new tariff would have resulted in £3m worth of tradin
Read moreLondon open: Footsie starts down
2nd Jul 2009 08:18
London's top stocks have dropped in early dealings Thursday after Wall Street steadily declined from morning highs on Wednesday. Rio Tinto shareholders have taken up 96.97% of the shares offered to them as part of the miner's $15.2bn fully underwritten rights issue. The group said on Thursday it r
Read moreLondon pre-open: Drop likely as US gains slashed
2nd Jul 2009 07:42
Wall Street's steady decline from morning highs on Wednesday is likely to leave London lower in early trade. Futures prices are currently indicating an initial deficit of about 25 points. Rio Tinto shareholders have taken up 96.97% of the shares offered to them as part of the miner's $15.2bn fully
Read moreRio Tinto cash call gets 97% take-up
2nd Jul 2009 07:03
Rio Tinto shareholders have taken up a healthy 96.97% of the shares offered to them as part of the miner's $15.2bn fully underwritten rights issue. The group received valid acceptances in respect of 508.58m of the £7.1bn of shares available in London. Underwriters Credit Suisse and J.P. Morgan Caz
Read moreLondon open: Footsie strongly ahead
1st Jul 2009 08:50
It is all blue this morning so far with demand for miners adding to well received trading statements from Marks & Spencer and International Power. Bus and rail group National Express is the big story. It has handed back the East Coast franchise after failing to renegotiate terms. The service will n
Read moreTuesday newspaper round-up: Royal Bank of Scotland, Lloyds, Candover
30th Jun 2009 06:13
Neelie Kroes, the European Union competition commissioner, is on Tuesday set to warn UK banks for a second time within a week that they may have to make disposals as a condition for the granting of state aid. Ms Kroes's tough message to the British Bankers' Association conference emphasises the ha
Read moreLondon close: Stocks finish in the red
26th Jun 2009 16:25
London's leading shares finished in the red by close as Wall Street remained in negative territory. Insurer were down with Friends Provident, Prudential and Legal & General lower while miners Eurasian Natural Resources, Rio Tinto and Vedanta were also down. The banks are in a healthier condition
Read moreLondon afternoon: Footsie in red
26th Jun 2009 14:13
London has slipped into negative territory, led by insurers and some wayward miners, while Wall Street is seen starting lower. Friends Provident, Prudential and Legal & General are among the biggest fallers, joined by Eurasian Natural Resources, Rio Tinto and Vedanta. The banks are in a healthier
Read moreLondon close: Late rally not enough
25th Jun 2009 17:01
A late rally by UK equities was not enough to prevent the blue-chip index closing in negative territory, largely as a result of weak miners, which were weighted down by softer metals prices. Lonmin, Vedanta, Rio Tinto and BHP Billiton were all stuck in the red. Elsewhere in the sector, Anglo Americ
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