Editor's Picks
London open: Miners, engineers lead fallers
Tuesday 16 Aug 2011
Just four stocks were making gains in early trading as London's blue chip index slipped 1% lower. The Footsie gave up its gains made on Monday and was trading below the 5,300 mark as miners and engineers provided a drag. Randgold Resources was among the few risers, tracking the price of gold higher. However, sector peers Kazakhmys, Xstrata and Vedanta Resources were out of favour.
Market overview: FTSE 100 down 39
Tuesday 16 Aug 2011
0827: The miners dragged the FTSE 100 lower in early trading, with ENRC and Xstrata among the worst performers. Banks extended losses from yesterday, with Standard Chartered and Barclays among those falling lower. Fresnillo is the best performer, tracking silver and gold prices higher. Resolution is among the risers after its operating profits surged in the six months to 30 June. FTSE 100 down 39
German growth hits the wall
Tuesday 16 Aug 2011
The euro took a dive on foreign exchange markets after German gross domestic product (GDP) in the second quarter grew less than expected.
Resolution on track as profits surge
Tuesday 16 Aug 2011
Resolution, the UK insurance buyout firm founded by Clive Cowdery, has said that it is on target to achieving its restructuring strategy as operating profits more than doubled in the six months ended 30 June.
US close: Markets celebrate M&A Monday
Tuesday 16 Aug 2011
M&A fever boosted gains on Wall Street on Monday, as big gains for Google and Bank of America drove the three benchmarks around 2% higher.
Petroceltic narrows half-year losses
Tuesday 16 Aug 2011
Dublin-based oil and gas firm Petroceltic narrowed its half-year losses during what has been a busy 12 months for the company, which saw it broaden its asset base through a number of deals.
London pre-open: Pause for breath
Tuesday 16 Aug 2011
London's more reflective mood this week looks set to continue, with City traders betting that all of yesterday's gains on the Footsie will be relinquished at the outset. Spread betting quotes suggest the top-share index will open at around 5,310, down 41 points from last night's close. Witan Investment Trust said its performance outstripped its benchmark in the first half of 2011.
Tuesday tips round-up: Michael Page, ACS, Spectris...
Tuesday 16 Aug 2011
Given the current financial turmoil it's probably no surprise that shares in Michael Page International, the recruitment consultant, have fallen off a cliff. Michael Page said yesterday that first half pre-tax profits (before exceptionals) came in at £45.5m against £33m last time. Investors also took fright at a marked slowdown in banking recruitment in recent weeks, together with an admission by
Tuesday newspaper round-up: PwC, Merkel, Google...
Tuesday 16 Aug 2011
PwC is facing the biggest fine imposed on a British accountancy firm after admitting it failed to raise the alarm that JP Morgan was not properly protecting its clients’ funds. The Big Four accountant, which audits JP Morgan, failed to alert the Financial Services Authority that the bank had not properly ringfenced up to $23 billion in client funds for seven years, ...
Europe close: Gains moderate ahead of Paris meeting
Monday 15 Aug 2011
Gains were modest on Monday as indices in Spain and Italy took the day off for a bank holiday, and investors looked ahead to the meeting in Paris between the German chancellor and the French president for solutions to the ongoing sovereign debt crisis across the continent.
London close: Calmer start to the week, Footsie edges 31 higher
Monday 15 Aug 2011
A strong start on Wall Street and large gains from the miners helped London’s blue chip index finish 0.57% higher on Monday. Meanwhile the banks limited gains on the Footsie over concerns over their level of exposure to Eurozone debt. Fluctuations in trading on Monday were not as severe as in recent weeks as the Footsie traded within a narrow intraday range between 5,319 and 5,377,
Dragon's Den's Peter Jones puts up the money
Monday 15 Aug 2011
A round-up of the biggest director deals today so far.
US open: Stocks climb after Google acquisition
Monday 15 Aug 2011
Stocks are expected are higher in early dealings, with some M&A news helping to erase memories of the recent turmoil. The Dow Jones is up 137 at 11,406, the S&P 500 climbed 14 to 1,193 and the NASDAQ added 28 points to 2,535. Today’s big corporate news is that search engine giant Google is to buy t
US pre-open: Stocks set for gains
Monday 15 Aug 2011
Stocks are expected to open higher, though sentiment has been dented a little by news that manufacturing in New York state contracted for the third month in a row. The Federal Reserve Bank of New York’s general economic index for August fell to -7.7 from -3.8 the previous month. Today’s big news is that search engine giant Google is to buy phone
RPC uncorks asset sale
Monday 15 Aug 2011
Plastic packaging firm RPC has sold its Bramlage Verschlüsse wines and spirits closures manufacturing operation in Lohne, Germany.
Broker tips: Rockhopper, Michael Page, Lookers
Monday 15 Aug 2011
Matrix recommends buying shares of North Falkland Basin-based oil and gas group Rockhopper Exploration following the positive resource update on Monday.
US newspaper round-up: Recession, Time Warner, Federal Reserve...
Monday 15 Aug 2011
The chances of the economy slipping into another recession have risen significantly, and forecasts for economic growth and job gains over the next year have been substantially downsized, according to USA TODAY's quarterly survey of top economists.
Desire shares piggy back on Rockhopper
Monday 15 Aug 2011
Shares in Desire Petroleum jumped 13% on the news that there may be more oil than expected in one of its licences off the Falkland Islands.
London midday: FTSE 100 stable after calm start
Monday 15 Aug 2011
Shares are holding onto their gains today amid much calmer trading than the volatility seen last week. In company news, international recruitment firm Michael Page is sharply lower. It made a flying start to 2011 but said profit growth in the banking sector has tailed off in the second half of the year.
Rockhopper ups estimates at Sea Lion
Monday 15 Aug 2011
Rockhopper Exploration, the North Falkland Basin-based oil and gas firm, saw shares climb 8% on Monday after new seismic data suggested that more oil could be found in its Sea Lion Main Complex (SLMC). The firm has raised its ‘low case’ estimate for stock tank oil initially in place (STOIIP) from 516m to 608m barrels.
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