FTSE 100 higher as US stockmarket prepares to open October 31, 2012 The large cap index was trading marginally higher this morning, led by an upswing in mining stocks thanks to an uptick of base metal prices. Following two days of closure, the US stockmarket is preparing to open today. Airline group IAG was the top blue-chip riser this morning, while utility stocks and Barclays made up [...]
Total profits jump on strong refining margins October 31, 2012 French oil company Total posted a 20 per cent rise in third quarter profit this morning to €3.3bn (£2.7bn), up from €2.8bn last year. Europe’s third-largest oil company benefited from a temporary widening between the price of crude and the selling price of its fuels, thanks mainly to refinery closures in the US and Europe, [...]
Barclays posts third quarter loss as profit hit by PPI October 31, 2012 High street bank Barclays this morning posted a third quarter loss of £47m, following charges to cover costs relating to missold payment protection insurance (PPI). The loss compares with a £2.4bn profit over the third quarter of last year. Adjusted profits for the bank, which do not take into account additional items, came in at [...]
ArcelorMittal slashes dividend on weak third quarter results October 31, 2012 Steelmaker ArcelorMittal said this morning it would cut its annual dividend, as it reported a net loss for the third quarter. ArcelorMittal reported a third quarter core profit of $1.34bn (£833.1m), in line with market expectations, but its lowest level in three years. That resulted in a net loss of $709m. The world’s largest steelmaker [...]
BP results boost FTSE 100 October 30, 2012 The blue chip index was trading up this morning, as a strong performance from oil major BP pushed up the FTSE 100. Trading volumes were expected to be thinner than usual, as hurricane Sandy shut Wall Street for a second consecutive day. Oil behemoth BP, which this morning announced it was hiking its dividend by [...]
UBS cuts 10,000 jobs in restructuring October 30, 2012 Swiss bank UBS today said it would cut its headcount by 10,000 in a winding-down of its fixed income business. The move will refocus the firm around its private and investment bank. The headcount will drop to around 54,000 in 2015, from around 64,000 today. The cuts are aimed at saving the bank around CHF3.4bn. [...]
Bank of Japan expands stimulus programme October 30, 2012 The Bank of Japan boosted stimulus for the second consecutive month today, to support its sagging economy. The central bank increased its asset buying programme by 11 trillion yen (£85.86bn) to 91 trillion yen, which was broadly in line with expectations. It marks the first time since 2003 that the central bank has eased policy [...]
BP hikes dividend on strong third quarter profit October 30, 2012 BP this morning announced a quarterly dividend hike of 12.5 per cent, on the back of strong third quarter results. The dividend, which will increase to nine cents a share, will be paid in the fourth quarter. Third quarter profit came in at $5.2bn (£3.2bn), up from $3.7bn in the previous quarter, which was boosted [...]
Hitachi confirms UK nuclear project purchase October 30, 2012 Japanese electronics company Hitachi this morning confirmed it had bought Horizon Nuclear Power from RWE and E.ON to build two nuclear plants in Anglesey and Gloucestershire. The contract involves building between two and three 1,300 MW plants in Wylfa, Anglesey, and Oldbury in Gloucestershire. The first unit will become operational in the first half of [...]
Hurricane Sandy drags FTSE 100 down October 29, 2012 The FTSE 100 fell in early trading, spooked by hurricane Sandy which has already shut the US stockmarket. Financial and mining shares dragged the main blue chip index down in early trading, with Hargreaves Lansdown the biggest loser on the FTSE 100, dropping 3.95 per cent. Insurers were also big fallers on the stock market [...]
