London close: Chinese data offsets IMF downgrade
20th Jan 2015 17:23
Stocks ended the session with modest gains on the heels of better-than-expected growth figures in China. The FTSE 100 gained 34.57 points to finish the day at 6,629. China's gross domestic product expanded at a 7.4% clip in 2014, markets seemed to draw comfort from the fact that the rate of expansi
Read moreFTSE 100 movers: Chinese data boosts commodities and retail, Unilever sinks on dissapointing growth
20th Jan 2015 13:57
Fast-moving consumer goods giant Unilever was among the fallers after revealing slower-than-expected growth in 2014. Underlying sales were up 2.9%, faster than the markets they operate in but lower than analyst forecasts, with volumes higher by 1% and prices advancing by 1.9%. The company's core
Read moreBroker tips: Tesco, Tullow Oil, Greene King, KAZ Minerals
19th Jan 2015 14:18
Supermarket operator Tesco has scope to materially improve its UK operations, according to Morgan Stanley which upgraded the stock from 'equalweight' to 'overweight' and hiked its target price from 155p to 260p. Together with moves to optimise its portfolio, that should drive the shares to outperfor
Read moreTullow facing funding risk, UBS slashes target price by 30%
19th Jan 2015 11:44
Tullow Oil has $2.4bn of headroom on its debt facilities, but UBS still reckoned that the oil and gas group faced a "funding risk" as it slashed its target price for the stock from 465p to 335p. "A cyclical downturn in E&P asset markets has thwarted Tullow's execution of a key leg of its strategy -
Read moreLondon close: Stocks rally strongly after Swiss move as ECB stimulus hopes rise
15th Jan 2015 16:36
A surprise policy move by the Swiss National Bank (SNB) resulted in a choppy day for UK markets on Thursday, though stocks were able to regain their composure and rally strongly as the dust settled. The FTSE 100 finished the session 110.32 points higher at 6,498.78, up 1.7% on the day due to increas
Read moreLondon midday: Surprise Swiss policy move sinks stocks, FTSE near one-month low
15th Jan 2015 11:57
Markets were back in the red by Thursday lunchtime, erasing earlier gains after a surprise announcement by the Swiss central bank. The FTSE 100, which rebounded to an intraday high of 6,472.91 early on, was down 0.6% at 6,349 by midday after Switzerland scrapping the franc's minimum exchange rate ag
Read moreBroker tips: Tullow Oil, Experian, Home Retail
15th Jan 2015 11:27
News of a multibillion-dollar write-down at Tullow Oil sent the share price in the exploration company lower on Thursday, though analysts at Westhouse Securities retained their positive rating on the stock. While the size of the $2.3bn write-down (after tax), is likely to disappoint investors, the b
Read moreWesthouse upbeat on Tullow despite write-down woe
15th Jan 2015 09:19
News of a multibillion-dollar write-down at Tullow Oil sent the share price in the exploration company lower on Thursday, though analysts at Westhouse Securities retained their positive rating on the stock. The broker kept its 'buy' stance, recommending investors to pick up shares on any weakness.
Read moreLondon open: Stocks rebound after sell-off as earnings impress
15th Jan 2015 08:25
UK stocks advanced on Thursday morning but only partly clawed back losses after a heavy sell-off the previous session. The FTSE 100 was up 1.1% at 6,458 early on, with updates from blue chips Experian, Associated British Foods and Tullow Oil being well-received by the market. The index had dropped
Read moreLondon pre-open: Stocks to rebound after heavy sell-off
15th Jan 2015 07:55
UK stocks are expected to rebound on Thursday after a massive sell-off the previous session on the back of concerns about global growth and plunging commodity prices. City sources predict the FTSE 100 will open 57 points higher than Wednesday's close of 6,388.46. The index dropped 2.4% the previous
Read moreTullow takes massive write-down as profits halve in 2014
15th Jan 2015 07:11
Tullow Oil said write-offs and impairment charges for 2014 would total billions of dollars after profits more than halved last year due to the collapse in crude prices. In a pre-closing trading update on Thursday, the exploration and production company said it expects to write down $1.6bn of assets,
Read moreFTSE 100 movers: Miners plummet as copper hits five-year low, oil companies continue south
14th Jan 2015 13:52
Mining stocks fell across the board though those exposed to the copper sector were hit the hardest after copper prices fell to five and a half year lows to $5,353.25 a metric ton. Antofagasta and Anglo American fared badly, but Glencore fared the worst, falling over 11% to a new record low. On
Read moreLondon close: Retailers provide a lift as inflation data boosts economic hopes
13th Jan 2015 16:48
UK stocks put in decent gains on Tuesday as a sharper-than-expected slowdown in inflation boosted hopes for consumer spending and pushed back projections for the first rate raise. A strong start to corporate earnings season in the States and increased hopes for further stimulus by the European Centr
Read moreFTSE 100 movers: Morrison boosted after axing CEO as grocers dominate risers
13th Jan 2015 13:46
The share price of supermarket group Wm Morrison jumped 5% on Tuesday following the news that chief executive Dalton Philips has been axed after the company delivered the worst Christmas performance of the Big Four. Like-for-like (LFL) sales excluding fuel fell 3.1% in the six weeks to 4 January.
Read moreLondon midday: Retailers rise, housebuilders boosted as UK inflation rate drops
13th Jan 2015 12:08
A sharp drop in the UK inflation rate and well-received updates from a number of Britain's retailers gave London stocks a boost on Tuesday. The FTSE 100 was trading up 0.6% at 6,539 just after midday with retailers and housebuilders offsetting ongoing weakness in the resources sector. Markets were
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