London afternoon: Stocks slide as Brown sides with Obama
22nd Jan 2010 14:43
Barely more than a dozen FTSE 100 constituents are showing rises as the market looks set to slide for the third day in succession, after dipping sharply following comments from Prime Minister Gordon Brown's spokesman that appeared to lend support to President Obama's hard line stance against excessi
Read moreLondon midday: Banks and shops drag Footsie lower
22nd Jan 2010 12:15
Footsie has turned down sharply with retailers joining banks in the doldrums after some subdued sales data from December. Retail sales volumes rose by much less than expected in December, as price rises kept the UK consumer away from the shops over the Christmas period. Sales were up by 0.3% from
Read moreLondon open: Banks in early drop
22nd Jan 2010 08:11
Banking shares are dragging London's top stocks lower in early dealings on Friday, after President Obama revealed tough new measures to curb risk-taking among the big Wall Street banks. Obama proposed rules to limit bank mergers and consolidation, while also restricting involvement in hedge funds,
Read moreLondon pre-open: Weak start expected
22nd Jan 2010 07:38
Yesterday's late swoon in London looks set to continue Friday morning, with City traders predicting the FTSE 100 will open around 22 points lower at around 5,313. Resource stocks, at least, had some early good news for investors, with miner Xstrata and oil company Tullow giving updates on their act
Read moreTullow strikes again in Uganda
22nd Jan 2010 07:31
Tullow Oil has found more oil and gas in the Butiaba region of Uganda Block 2, this time at the Kasamene-2 appraisal well 1km north-east of the Kasamene-1 discovery. The well encountered 39 metres of net oil pay and 8 metres of net gas pay within a 132 metre gross interval. 'Reservoir quality is ex
Read moreLondon close: Banks and miners drag Footsie lower
21st Jan 2010 16:30
Leading UK shares lurched lower in the afternoon as US shares weakened and investors waited nervously for President Obama's new bank reforms. The US President's proposals prohibit commercial banks from owning or investing in hedge funds or owning, investing or advising private equity funds, while a
Read moreLondon afternoon: Banks face 'tsunami' of pressure
21st Jan 2010 14:44
Leading shares traded sideways over the lunchtime session, albeit with a small dip at 1:30pm when the US market opened a tad lower. Banks and miners are impeding Footsie's progress, with the latter still friendless on concerns about demand from China. Pundits are predicting that the Chinese authori
Read moreBroker tips: Tullow, Morrisons, NCC
21st Jan 2010 12:44
Brokers are holding fire on updating their net asset valuations on Tullow Oil until they have more information on the Irish oil company's 'significant' oil and gas find at its Tweneboa-2 exploratory appraisal well in Ghana. 'Although further appraisal is needed, today's news is positive for Tullow
Read moreBroker snap: Tullow find underpins premium valuation
21st Jan 2010 12:31
Brokers are holding fire on updating their net asset valuations on Tullow Oil until they have more information on the Irish oil company's 'significant' oil and gas find at its Tweneboa-2 exploratory appraisal well in Ghana. 'Although further appraisal is needed, today's news is positive for Tullow
Read moreLondon midday: Footsie ahead after mixed morning
21st Jan 2010 12:01
Footsie can't make up its mind this morning and after dropping into the red after miners gave up early gains the index is making good progress again. Xstrata, Rio Tinto, Anglo American, Fresnillo, Kazakhmys and Vedanta Resources remain the main blue chip fallers on concerns about demand from China.
Read moreLondon open: Footsie fights back
21st Jan 2010 08:17
United Utilities, Tullow Oil and a bunch of miners are leading London's blue chips higher in early dealings following yesterday's sharp losses. Water company United Utilities is to cut its dividend to 30p in fiscal 2010/11 from 34.3p as it seeks to conserve cash to meet the requirements of the indu
Read moreTullow cheers 'significant' oil & gas find
21st Jan 2010 07:23
Tullow Oil said its Tweneboa-2 exploratory appraisal well, some 6 km southeast of the Tweneboa-1 discovery, has intersected a significant combined hydrocarbon column. Results of drilling, wireline logs and samples of reservoir fluids establish that Tweneboa is a major oil and gas-condensate field.
Read moreLondon pre-open: Stocks set to bounce back
21st Jan 2010 07:16
Despite the shake out on Wall Street overnight, leading shares in London look set to open firmer, with the Footsie tipped to open 20 points or so to the good. Supermarket giant Morrisons reported a 6.5% rise in like-for-like sales over the Christmas period, beating comparable figures from rivals Te
Read moreTuesday newspaper round-up: Cadbury agrees Kraft takeover
19th Jan 2010 06:20
The iconic British chocolate manufacturer Cadbury fell last night to an £11.7bn takeover by the US food conglomerate Kraft, the Times reports. The deal, struck after hours of negotiations, brings to a conclusion one of the most fiercely contested takeover battles the City has seen in recent years.
Read moreLondon close: Good gains for FTSE 100
18th Jan 2010 16:33
Footsie finished the day in the blue despite a sharp reversal in the fortunes of International Power, which earlier had soared on speculation of a takeover by French power giant GDF Suez. Shares in the energy company slid from their earlier highs after it admitted it held talks with GDF Suez about
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