London rises as miners and energy companies set pace March 1, 2010 LONDON’S top share index rose one per cent yesterday as big gains from miners and energy stocks, boosted by firmer commodity prices, outpaced faltering banks following disappointing results from HSBC. The FTSE 100 closed 51.42 points higher at 5,405.94 points, having hit a five-week high earlier in the session of 5,420.83. The index has rebounded [...]
Oil company starts Falklands drilling February 23, 2010 DESIRE Petroleum (DES) has begun drilling for oil in the waters off the Falkland Islands despite growing tensions between Britain and Argentina. The FTSE 250 group said its Ocean Guardian rig, which left Scotland at the end of November, arrived on Friday and the Liz 14/19-A exploration well was spudded yesterday afternoon. The well is [...]
Mining charter contracts boost Skywest Airlines February 22, 2010 AUSTRALIAN regional carrier Skywest Airlines will this morning reveal it has swung into the black over the first half of the year, despite a worldwide slump in demand for air travel in the downturn. Skywest, which charters planes to ferry employees of some of the world’s largest mining groups to and from resource developments in [...]
Good day for blue-chips sees FTSE flirt with the 5,300 level February 17, 2010 Britain’s top share index rose for the third consecutive day yesterday, led by financials and miners on bullish corporate results and economic data, and adding to growing optimism over the health of the global economy. The FTSE 100 ended up 32.58 points, or 0.6 per cent at 5,276.64, touching a two-week high during the session [...]
Strong Barclays results help FTSE to chalk up solid gains February 16, 2010 BRITAIN’S top shares closed sharply higher yesterday as Barclays led a banking sector rally after its 2009 forecast-beating results, and oils and miners were buoyed by firmer commodity prices. The FTSE 100 ended up 76.59 points, or 1.5 per cent, at 5,244.06, extending gains into a second consecutive session after closing 0.5 per cent higher [...]
Buy on the dips to make your profits February 14, 2010 TROUBLES in the Eurozone have caused a retrenchment in risk appetite over the past couple of weeks, and as a result, we have seen equity indices lose their upward momentum. At the start of last week the US Dow dipped below the 10,000 mark for the first time since early November, while the FTSE 100 [...]
Banks suffer as concerns over their Greek exposure weigh February 11, 2010 BRITAIN’S top share index closed 0.6 per cent higher on Thursday, as gains in commodities outpaced falls in banks, which remained mired in uncertainty over Eurozone’s plans to deal with Greece’s debt problems. BT Group slumped 8.8 per cent, topping the losers’s list on the FTSE 100 and hitting a more than six-month low after [...]
BEST OF THE BROKERS February 11, 2010 BHP BILLITON Standard & Poor’s says that BHP’s first-half earnings were stronger than expected, although still 28 per cent lower year-on- year. The broker agrees with the group’s statement that China is key to short-term prospects, and thinks that concerns over monetary tightening are overdone. Maintains its “Buy” recommendation. PUNCH TAVERNS Collins Stewart’s target price [...]
Possible solution to Eurozone debt woes boosts FTSE 100 February 10, 2010 BRITAIN’S leading shares added 0.4 per cent yesterday as financial issues drew strength from a possible solution to Eurozone debt worries, offsetting a retreat by heavyweight commodity shares. The FTSE 100 ended 20.15 points higher at 5,131.99, recovering from a session low of 5,105.30 in the afternoon but still well below the morning peak of [...]
BHP Billiton is set to go on a buying spree February 10, 2010 GLOBAL mining heavyweight BHP Billiton today announced plans to ramp up its spending despite its interim profits falling victim to the commodity downturn in 2009. The FTSE 100 group posted a seven per cent drop in profit to $5.7bn (£3.7bn) in the final six months of 2009 as “significant volatility and continued uncertainty in the [...]