Rally ends as weak miners nudge FTSE down slightly August 10, 2009 THE FTSE 100 edged down yesterday, with investors booking profits from hefty gains in miners and banks last week, while the market searched for direction as the earnings season tailed off. The index ended down 0.2 per cent, or 9.36 points at 4,722.20, not far from a 10-month closing high of 4,731.56 on Friday. A [...]
Bank inflation report due as City heads for holiday season August 9, 2009 With the streets of the City emptying as weary workers head for sunnier climes, the torrent of company results slows to a trickle this week, but the markets will be scrutinising the Bank of England’s quarterly inflation report. The Bank, which releases its report on Wednesday, is expected to predict that inflation will stay low [...]
THE TIPSTER RESULTS AND BUYOUTS TO FUEL MARKET August 9, 2009 Interim results are still dominating the headlines and the markets at the moment so spread betters should be well aware of which companies are reporting and what the market is expecting from them. Insurance company Friends Provident reports interims on Tuesday and investors will be hoping for an update on the Resolution situation. For investors [...]
THE LONDON REPORT August 5, 2009 The FTSE 100 closed down 0.5 per cent yesterday, after weaker than expected economic data in the US dragged equities lower, with oil producers and miners leading the losers. The index ended 24.24 points lower at 4,647.13, shy of Monday’s close when it hit its best closing level since the collapse of Lehman Brothers late [...]
Xstrata gains bid support August 4, 2009 LARGER-than-life Xstrata boss Mick Davies yesterday said he had investor backing from the mining giant’s largest shareholder in its proposed £26bn merger with Anglo American. Glencore International is “very supportive” of the nil-premium merger, Davies said. The chief executive added that the company had no intention of altering the terms of the proposed marriage. Davies [...]
Ex-Ford boss named as the new chairman of BHP Billiton August 4, 2009 BHP Billiton, the world’s largest miner, yesterday said that ex-Ford chief executive Jac Nasser would be its new chairman. Nasser, who has been a non-executive director at BHP since 2006, will step into incumbent Don Argus’ shoes when he steps down next year after a decade at the helm. He beat off competition from John [...]
Small but perfectly formed August 4, 2009 THE FACTS:MINI JCW CONVERTIBLE6-SPEEDMANUAL PRICE: £23,4700-62MPH: 6.9secsTOP SPEED: 146mph (limited)CO2 G/KM: 169g/kmMPG COMBINED: 39.8 THE Met office came in for flak last week after admitting its forecast for a “barbecue summer” was just a little wide of the mark. Darn that jet stream. Well, I’ve come to learn during my road-testing years that waiting for [...]
THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 3, 2009 FINANCIAL TIMES UK ATTORNEY GENERAL VOWS FRAUD CRACKDOWNBritain aims to become the most hostile country in the world to fraudsters, the government’s top law officer has pledged, in an eye-catching riposte to growing criticism about the lack of big financial crime cases being mounted. Baroness Scotland, attorney-general, said domestic investigation agencies would soon be giving [...]
BHP to elect new chairman soon July 30, 2009 The world’s largest miner BHP Billiton is close to announcing a new chairman to replace Don Argus and is understood to have narrowed the field to two candidates. Current non-executive directors Jacques Nasser, the former Ford chief executive and John Schubert, the chairman of Commonwealth Bank of Australia, head the running.