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Mining Stocks Under Pressure

News - Friday, February 19, 2010

The US Federal Reserve made its first monetary policy for over a year – a surprise increase of 0.25% in its lending rate to banks to 0.75% – on Thursday. This, in turn, strengthened the dollar against the euro and put pressure on mining stocks on Friday morning due to a softening of metal prices.

Copper Acquisition Boosts ENRC

News - Thursday, February 18, 2010

Firmer metal prices led to strong gains for commodity stocks on Thursday afternoon with heavyweight mining stocks leading the FTSE 100 higher. In fact, Britain's leading share index closed up 48.85 points or 0.9% at 5,325.09, its highest closing level for nearly a month.

BAE Systems Tops FTSE Risers

News - Thursday, February 18, 2010

The parlous state of public finance in Britain was revealed on Thursday morning with the announcement that the government borrowed £4.3 billion in January, the first time it had done so since records began in 1993. The announcement had little effect on the FTSE 100 index which climbed above 5,300 for the first time in three weeks to stand at 5,303.40, up 26.8 points or 0.6%, shortly after midday. Sterling was weak against the dollar, however, falling below $1.56.

Financial Stocks Lift FTSE

News - Wednesday, February 17, 2010

Unemployment in the UK may have fallen 3,000 to 2.46 million in the final quarter of 2009 according to figures from the Office for National Statistics (ONS), but the news was not all good, with the number of people claiming Jobseeker's Allowance rising by 23,500 to 1.64 million, the highest level since April, 1997, in January.

Man Group Jumps on Takeover Speculation

News - Wednesday, February 17, 2010

Strong gains on Wall Street overnight fuelled by positive corporate earnings and manufacturing data were reflected on the London Stock Exchange on Wednesday morning. Shortly before midday the FTSE 100 was up 30.14 points or 0.6% at 5,274.20, up for the third day in a row and touching a two-week high.

Banks and commodities lead FTSE 100 gain of 1.5%

News - Tuesday, February 16, 2010

Barclay's announcement of a higher than expected profit boosted banking stocks in morning trading. Rising metals and oil prices contributed to today's positive market as commodity stocks finished the day higher. With afternoon trading continuing the morning's trends the 100 FTSE ended the day at 5,244.06, up 76.59 points - showing gains for a second consecutive day.

Banks drive FTSE higher as Barclays reports better than expected profits

News - Tuesday, February 16, 2010

Beating forecasts, Barclays promoted high interest in banking shares which drove the FTSE index higher rising by 0.7% at midday. Commodity stocks also rose based on higher metals and oil prices.

Banks in Focus on Thin Trading Day

News - Monday, February 15, 2010

There is a possibility that the part-nationalised British banks, Royal Bank of Scotland (RBS) and Lloyds Banking Group could face sanctions from the government after admitting that they are unlikely to hit business lending targets imposed as part of their respective bail-outs by the Treasury.

British Airways Receives Tentative Approval

News - Monday, February 15, 2010

Struggling airline British Airways finally received some good news on Monday morning after the US Department of Transport offered tentative approval for a proposed joint venture with American Airlines and Iberia, amongst others, to create a global pact.

Defensive Stocks in Favour

News - Monday, February 15, 2010

The move by the Chinese authorities to increase reserve requirements for banks weighed not only on British banks but on the market as a whole on Friday afternoon and the FTSE 100 closed down 19.03 points or 0.4% at 5,142.45.

Concerns Over China and Europe Weigh on FTSE

News - Friday, February 12, 2010

A decision by the Beijing authorities to lift the capital requirements of commercial banks by 0.5% – a move that few were expecting, particularly after inflation in China during January was surprisingly low – heralded a rapid about-turn by mining stocks on Thursday morning. Shortly after midday the FTSE 100 had surrendered early gains and was down 7.795 points or 0.2% at 5,153.53, after recording gains in the four previous sessions.

BHP Billiton Reports Increased First-Half Profits

News - Thursday, February 11, 2010

Investors had the opportunity to digest positive first-half results from BHP Billiton – the largest mining group in the world – on Thursday afternoon and by 16.12 GMT its share price had risen 30p or 1.62% to 1,886.5p. That figure does, however, still represent a fall of nearly 12% in the share price since it reached its peak for the year so far at 2,115.50p on 8th January and the company remained cautious about economic recovery.

Rio Tinto Results Better Than Expected

News - Thursday, February 11, 2010

Metal prices recovered from a modest fall in the previous session on Thursday morning – three-month copper on the London Metal Exchange, for example, leapt $203 to $6,743 a tonne in early trading – following news that Chinese banks lent more money in January than in the previous three months and Australian unemployment fell in January despite expectations of a slight rise.

Financial Stocks in Demand

News - Wednesday, February 10, 2010

The FTSE 100 index closed with a modest gain of 20.15 points or 0.4% at 5,131.99 on Tuesday after a volatile session which saw the leading share index as high as 5,181.21 in the morning and as low as 5,105.30 in the afternoon.

Aviva Leads FTSE 100 Higher

News - Wednesday, February 10, 2010

Aviva, the largest insurance group in the UK and the fifth largest in the world, was one of the best performers in the FTSE 100, up 18.5p or 5.37% at 363p.

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