London 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
Read moreLondon 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
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