London close: Shares give up gains as Libya worries persist
7th Mar 2011 16:39
Shares closed in the red having spend most of the day in the blue after recovering from a weak start. Once again, the Libya turmoil has been casting a shadow. Oil prices are still an issue. Light crude rose to a 30-month high above $106 on Monday as fighting rages in Libya while reports that the un
Read moreLondon afternoon: Stocks consolidate gains
7th Mar 2011 14:18
Shares came off the top at the beginning of the afternoon before recovering some of their poise toward the end of the lunch time session as futures markets indicated a moderately firm start in store on Wall Street. Oil prices are still an issue. Light crude rose to a 30-month high above $106 on Mon
Read moreRolls-Royce and Daimler in Tognum takeover talks
7th Mar 2011 12:37
Engine maker Rolls-Royce has confirmed that it is in discussions, together with German car maker Daimler, about the possibility of acquiring engine group Tognum. "Constructive discussions with the supervisory board and management board of Tognum are being held," Rolls said. Daimler already owns a
Read moreBroker tips: Rolls-Royce, International Power, Weir
16th Feb 2011 11:18
UBS is no longer a seller of engine maker Rolls-Royce, but still sees little scope for the group to materially beat expectations. The broker upgrades Rolls-Royce to a 'neutral' recommendation following its 2010 results, saying that "assuming [it's] premium valuation will persist, then there is less
Read moreBroker snap: Rolls upgraded but upside risk limited
16th Feb 2011 10:15
UBS is no longer a seller of engine maker Rolls-Royce, but still sees little scope for the group to materially beat expectations. The broker upgrades Rolls-Royce to a 'neutral' recommendation following its 2010 results, saying that "assuming [it's] premium valuation will persist, then there is less
Read moreLondon close: Flat finish for FTSE 100
14th Feb 2011 16:42
The top share index finished flat after a sluggish day's trading. Takeover talk pushed the price of engineering stalwarts Weir Group and Invensys higher, with engineering colossus Siemens said to have cash burning a hole in its pocket. The German company's chief financial officer, Joe Kaeser, sai
Read moreLondon afternoon: Footsie in red despite miners
14th Feb 2011 14:29
Mining stocks are buoyant after China's economy grew 9.8% in the final quarter of 2010, but demand for miners has not prevented the blue-chip index from sliding into the red. Takeover talk is pushing the price of engineering stalwarts Weir Group and Invensys higher, with German engineering colossu
Read moreLondon midday: FTSE 100 turns lower
14th Feb 2011 12:13
The top share index is slightly under pressure now though there is some excitement among oil-related stocks in the mid-cap index. Shares in John Wood have roared ahead after the oilfield services group said it is returning money to shareholders, and is to pay out $1.7bn after it agreed to sell it
Read moreLondon open: Egypt gives early boost
14th Feb 2011 08:45
The departure of Egypt's president Hosni Mubarak and gains on Asian markets have given Footsie an early lift. Miners are going well after strong trade figures from China. Xstrata and Rio Tinto lead the sector higher. Reports that China's inflation numbers tomorrow may be better than expected has a
Read moreLondon pre-open: Egyptian afterglow still evident
14th Feb 2011 07:46
The boost given to stock markets by the departure of Egypt's president Hosni Mubarak is still evident, with London set to open the week on a firm footing. City traders expect the FTSE 100 index to open around 20 points higher. Engine maker Rolls-Royce has won a $2.2bn (£1.4bn) contract with Emirate
Read moreRolls-Royce bags £1.4bn Emirates support deal
14th Feb 2011 07:05
Engine maker Rolls-Royce has won a $2.2bn (£1.4bn) contract with Emirates to look after its Trent engines on 70 of the airline's new Airbus A350XWB aircraft. The latest batch, due to come online in the next few years, brings the number of Emirates planes under the UK company's TotalCare agreement t
Read moreBroker tips: Rolls-Royce, Rio Tinto, SABMiller
11th Feb 2011 13:06
Valuation levels at Rolls-Royce are starting to look more compelling, according to Nomura, which reiterates its positive stance on the engine maker. The group delivered solid results yesterday, with profits 4% better than expected, despite challenging market conditions and the £56m financial charge
Read moreBroker snap: Rolls-Royce to see strong growth in 2011
11th Feb 2011 13:01
Valuation levels at Rolls-Royce are starting to look more compelling, according to Nomura, which reiterates its positive stance on the engine maker. The group delivered solid results yesterday, with profits 4% better than expected, despite challenging market conditions and the £56m financial charge
Read moreFriday tips round-up: Rio Tinto, Rolls-Royce, Diageo...
11th Feb 2011 06:59
Rio Tinto, which in the bad days of spring 2009 had debts of $39bn (£24.2bn) after the badly timed purchase of Alcan in 2007, exited last year with just $4.3bn of borrowings, or gearing of 6%. It generated a record $23.5bn of cash last year, up 70% on 2009. This is by any standards a staggering tu
Read moreLondon close: Footsie lower as results disappoint
10th Feb 2011 16:29
Footsie staged a late rally to climb back over 6,000, but still ended the day lower amid a very mixed bag of company results. It was a day for corporates to keep their head down as even those companies posting good numbers got whacked. Miner Rio Tinto fell after record full-year profits, a $5bn sha
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