US debt fears cast shadow on stocks July 26, 2011 UK stocks crawled back into the black today as uncertainty over the US debt ceiling continued to cast a shadow over trading. Appetite for risk remained subdued amid a raft of corporate earnings and economic data showing US and UK economies still struggling to return to growth. The FTSE 100 closed just 0.08 per cent [...]
Heartening US data prompts market rally July 1, 2011 Financial stocks have powered ahead today after good economic news from the US and a reduction in concerns over Greece’s debt prompted a market rally. Lloyds, Barclays and RBS, the UK’s three biggest banks, have provided firepower to the FTSE 100, leaving it 0.7 per cent higher at the close, at 5,989.76 and bringing it [...]
FTSE tumbles to three-month closing low on energy worries June 23, 2011 MINERS and energy stocks were the worst hit members of Britain’s sharply lower FTSE 100 index yesterday, hit by heightened fears of a slowdown in global growth. The FTSE 100 ended down 98.61 points, or 1.7 per cent, at 5,674.38, its lowest close since 16 March when markets were plunging in the immediate aftermath of [...]
Banks and commodities fall as Greek debt crisis lingers June 20, 2011 BANKS and commodity stocksdragged Britain’s top index lower yesterday, as Greece’s lingering debt crisis looks likely to stall the FTSE’s progress near-term, analysts said. Investors reacted negatively after European finance ministers postponed a final decision on extending a further €12bn in emergency loans to Greece. The International Monetary Fund weighed in, saying it needed to [...]
ENRC to accelerate governance review June 15, 2011 ENRC will speed up its corporate governance review, City A.M. understands, after concerns over its structure continue to damage investor confidence. The Kazakh miner last week announced a three-month review of its corporate governance. But sources close to the company expect the results to be published sooner, after last week’s boardroom shake-up followed by a [...]
Weak banks help drive FTSE to three-month closing low June 15, 2011 BRITAIN’S top shares ended lower yesterday, weighed down by banks on worries over the UK government’s drive for tougher regulation and Europe’s debt crisis, while commodity stocks also pressured the index. The FTSE 100 closed down 60.58 points, or 1.0 per cent, at 5,742.55, its lowest finish since March 18. Banks fell ahead of chancellor [...]
Glencore barred from ENRC bid for six months June 15, 2011 Glencore will be barred from bidding for embattled miner ENRC for six months under UK takeover rules, after the commodities trader said it was not actively considering a bid. Glencore, the world’s largest diversified commodities trader, said on Wednesday that comments to analysts and reporters during its maiden quarterly results presentation on Tuesday had subjected [...]
Glasenberg plays down talk of plan to make a move on ENRC June 14, 2011 ENRC shares fell sharply yesterday morning after Glencore’s chief executive dismissed reports that it was preparing a bid for troubled metals producer. Ivan Glasenberg took the opportunity to quash the rumours after releasing the Swiss commodities firm’s first set of quarterly profits since its flotation last month. “We can confirm that although we talk to [...]
Oil companies and banks help to push the FTSE 100 higher June 14, 2011 Britain’s top share index rose yesterday, with oil majors and banks gaining as above-forecast data from the United States and signs that the Chinese economy could avoid a hard landing boosted appetite for riskier assets. Britain’s FTSE 100 ended 29.67 points higher, or 0.5 per cent at 5,803.13 points, after inching up 0.1 per cent [...]
FTSE climbs as risk appetite returns June 14, 2011 London stocks are gaining ground this morning after heartening economic data from China led Asia to a positive finish overnight and boosted commodities. Energy and metals prices are rising after data showed China’s inflation rate remains high at 5.5 per cent. That rate was better than some expected, though, while retail sales data also showed [...]