Broker snap: Housebuilders' rally a 'false dawn'
24th Jul 2009 11:50
KBC Peel Hunt, a long time bear on the housebuilding sector, is once again exhorting its clients to take profits on the housebuilders in the wake of what it regards as "a positive spin" put on housing market figures by property web site Rightmove. "Rightmove has hailed the bottom of the housing mar
Read moreLondon close: Footsie finishes ahead
20th Jul 2009 16:41
London's top stocks remained in the same range and closed with good gains as financials and miners had a strong day. Wall Street starting higher also helped. Sentiment was lifted in the US after reports that lender CIT Group has obtained a last-minute emergency financing rescue deal worth $3bn. Ll
Read moreLondon afternoon: Strong US opening keeps Footsie ahead
20th Jul 2009 15:47
A strong start on Wall Street has kept Footsie in the blue though it has lost some of its early momentum. Lloyds Banking is the best performer on a weekend report it could post an interim profit despite enormous bad-debt provisions. Some of its most toxic sub-prime investments have clawed back bill
Read moreFTSE 250 movers: Housebuilders on top
20th Jul 2009 14:10
Housebuilders dominate the mid-cap index Monday following bright news on the housing market. Mortgage lending leapt by 17% in June to £12.3bn, its highest since December, according to the Council of Mortgage Lenders (CML). The Bank of England said the six major banks approved 51,000 mortgages for
Read moreLondon midday: Banks lead Footsie higher
20th Jul 2009 12:21
Blue chips have continued their recent surge with banks among the top risers as sentiment in the sector is boosted by last week's earnings reports from US rivals. Lloyds Banking is the best performer on a weekend report it could post an interim profit despite enormous bad-debt provisions. Some of i
Read moreLondon close: Modest gains as US struggles
9th Jul 2009 16:33
Equities held onto gains despite a lacklustre final session as Wall St struggled to make headway. Mining stocks continue to dominate the list of risers. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Rand
Read moreLondon afternoon: Rally gathers pace
9th Jul 2009 14:46
Equities pushed higher over the lunch-time session, boosted by expectations of a firm start on Wall Street. Mining stocks continue to dominate the list of risers. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold min
Read moreLondon midday: Mining stocks in the driving seat
9th Jul 2009 12:17
Mining stocks are behind the wheel once again and today they are driving the market higher. Silver miner Fresnillo is the best performer after being upgraded to "buy" by Citigroup. In contrast the US bank had downgraded gold miner Randgold Resources to "hold" from "buy". Elsewhere in the sector An
Read moreHomebuilders bemoan mortgage constraints
9th Jul 2009 11:21
Homebuilders Barratt and Redrow have said that the lack of mortgage availability is stunting the recovery of the housing market. But the Council of Mortgage Lenders (CML) said today there are signs that lenders may relax their criteria in the coming months. In the last year, banks have drasticall
Read moreFTSE 250 movers: Cautious Barratt slips back
9th Jul 2009 11:03
Housebuilder Barratt Developments slips after it said it remains cautious about the outlook and will continue to match work in progress to demand, whilst reducing debt and controlling costs. Engineering IT systems provider Aveva falls back after saying that, while it has traded in line with expecta
Read moreLondon open: Miners provide early boost
9th Jul 2009 08:33
Miners are giving London's blue chips a lift in early dealings ahead of the Bank of England's decision on interest rates and the quantitative easing programme later today. Fresnillo is the best performer, up more than 5%, closely followed by Kazakhmys, Anglo American, Vedanta Resources, Antofagasta
Read moreBarratt sees stability but still cautious
9th Jul 2009 07:59
Housebuilder Barratt Developments said it remains cautious about the outlook and will continue to match work in progress to demand, whilst reducing debt and controlling costs. The group since the start of 2009, it has continued to see signs of stability in the new housing market albeit at lower v
Read moreThursday preview: BoE rate decision, AB Foods, Man Group
8th Jul 2009 17:52
The Bank of England's Monetary Policy Committee (MPC) announces its interest rate decision on Thursday. The decision itself is likely to prove a non-event with the MPC unanimously expected to keep the Bank's key lending rate unchanged, but there may be an update on the quantitative easing (QE) progr
Read moreWednesday newspaper round-up: Bank regulation, Rio Tinto, Marks & Spencer
8th Jul 2009 06:17
Banking executives will have their pay linked to long term profitability under new rules designed to prevent a repeat of last year's financial meltdown. Alistair Darling will tell MPs today that salaries will be aligned to the earnings and overall financial health of institutions when he presents h
Read moreFTSE 250 movers: Persimmon leads risers
7th Jul 2009 13:30
Housebuilder Persimmon leads the risers after saying it has seen both volume and revenues improve recently and expects that trend to continue against the weak conditions experienced throughout the second half of 2008. Fellow housebuilders Barratt and Bovis, due to report on Thursday and Friday resp
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