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Mining stocks lead FTSE downturn on weak metal prices

News - Wednesday, June 23, 2010

The FTSE 100 index has opened lower this morning due to weakened commodity prices, disappointing home sale data from the US and a resurgence in global economic recovery concerns. Mining stock is leading the charge for losses with tin, copper, nickel, gold, silver and aluminium prices all between 0.1 per cent and 3.8 per cent down.

Whitbread scores first quarter sales boost driven by Premier Inn

News - Tuesday, June 22, 2010

The UK’s largest hotel and restaurant company Whitbread (LON:WTB) has posted a total 7.6 per cent gain in like-for-like sales across its business in the group’s Q1 results statement, edging the shares up by as much as 4.8 per cent in today’s session.

Budget fears for banks and commodity retreat pulls FTSE lower

News - Tuesday, June 22, 2010

The UK’s blue-chip index has opened this morning with an air of caution as investors wait for Chancellor George Osborne’s emergency Budget annoncement. Osborne is expected to confirm a levy on banks to raise £3bn as well as the biggest spending cuts since the Second World War, causing some investor hesitation around banking stocks. Commodity stocks are also out of favour this morning after confidence urged by China’s decision to make the yuan more flexible faded.

Warner Bros parent group in talks with UK television production firm

News - Monday, June 21, 2010

Time Warner, the US parent group of Warner Bros Entertainment and Home Box Office (HBO), is reportedly in talks to buy UK television production company Shed Media (LON:SHDP) as it looks to add to its London-based production portfolio.

FTSE growth continues on more flexible yuan and miner gains

News - Monday, June 21, 2010

The UK’s blue-chip index is posting a gain of more than one per cent in the opening hours of the first session for the week after China’s central bank said late on Saturday it was prepared to make the yuan more flexible due to the global economic recovery. The news has encouraged investors to begin reconsidering riskier assets and improved the demand outlook for commodities, pushing mining and commodity stocks higher this morning.

Santander confirms offer for 300 RBS branches

News - Friday, June 18, 2010

Royal Bank of Scotland (LON:RBS) shares gained this morning after Spanish banking giant Santander confirmed it had made a bid for 300 British branches of the part-nationalised bank in a deal reportedly worth around £1.8bn.

FTSE hits eighth consecutive day of growth on BP and miner gains

News - Friday, June 18, 2010

The FTSE 100 has ploughed to its eighth day of gains in the early hours of today’s session, headed by BP’s (LON:BP) share price rebuild despite CEO Tony Hayward’s six-hour grilling by US Congress yesterday. Mining stock has recovered from a dip in share price growth yesterday and an upgrade from JPMorgan has edged Aviva (LON:AV) to the heights of the index gainers.

Retail sector booms on World Cup fever

News - Thursday, June 17, 2010

The Office for National Statistics (ONS) has said sales of household goods have been the majority backer behind the 0.6 per cent rise in retail sales growth in May. Football fans snapping up discounts and offers on new TV’s to watch the World Cup have been benefitting high-street retailers the report said.

FTSE 100 heads for seventh advancing session backed by BP and banks

News - Thursday, June 17, 2010

The UK’s blue-chip index has posted gains for the seventh successive session this morning, backed by BP (LON:BP) shares which have proved popular in early trading following the confirmation yesterday that the group will front up a $20bn clean-up fund to cover the cost of the Gulf of Mexico oil spill.

J Sainsbury sales dip on low food price inflation and high fuel costs

News - Wednesday, June 16, 2010

Third largest UK supermarket chain J Sainsbury (LON:SBRY) has posted its smallest rise in quarterly sales for five years it has announced today, dragged down by low food price inflation and higher fuel costs.

Banks and miners continue positive FTSE form

News - Wednesday, June 16, 2010

The UK’s top index looks set to post a six successive growth today with banks and commodities at the forefront of gains. Banking stocks have been buoyed by government bond auctions yesterday and expectations that Chancellor George Osborne will confirm as less intrusive levy on the sector. The successful bond auctions has helped the euro rally against the dollar and sent commodity prices higher.

BSkyB shares shine after rejecting News Corp bid

News - Tuesday, June 15, 2010

British Sky Broadcasting Group (LON:BSY), the leading pay-television provider in the UK, has turned down a £7.8bn offer from Rupert Murdoch’s News Corporation. With BSkyB reportedly wanting News Corp to up its 700p a share offer to at least 800p, the share price for the UK premier sports, movie and entertainment pay-TV coverage provider has rocketed over 20 per cent.

Banks and miners rebound from Greek status downgrade

News - Tuesday, June 15, 2010

The UK’s blue-chip index opened lower today following four consecutive days of strong growth but recovered by 10:00BST. The biggest accountable sector in this morning’s trading is banking after eurozone debt fears re-emerged due to a fresh downgrade to Greece’s debt. Investors concerns of a lack of demand caused by eurozone debt contagion also hit miners with metal prices losing ground, too. But pay television broadcaster BSkyB (LON:BSY) is soaring on the FTSE 100 risers charts after rejecting a proposal by major shareholder News Corp to buy the outstanding 61 per cent of share in the company that it doesn’t already own.

Resolution suspends shares in light of Axa deal

News - Monday, June 14, 2010

Clive Cowdery’s investment acquisition vehicle Resolution (LON:RSL) has announced this morning that it has suspended its shares while the group attempts to complete the buy-out of Axa’s UK life assurance arm.

High metal prices put miners up but BP falls ahead of dividend meeting

News - Monday, June 14, 2010

UK stocks are advancing for the fourth straight session this morning, heavily supported by higher metal prices that have resulted in mining stock heading the FTSE 100 index. But there is no sign of share price growth from BP (LON:BP) this morning as investors wait with caution to hear the outcome of today’s talks of potentially cutting second-quarter dividend to help pay the costs of the US oil spill.

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