Markets
London - The FTSE 100 rallied 104.14 points to close at 5,355.5 yesterday. Commodity related shares led the market higher on the back of a weaker dollar. Fresnillo and Kazakhmys were both finished 4.3% higher. The day’s biggest riser in London was Royal Bank of Scotland, which finished up 5%. This morning the index is 34.40 points lower at 5,321.10. Heavily weighted miners retreat in line with metal prices, Vedanta Resources slides 2%. Lloyds tops the risers’ board after pricing its rights issue at 37 pence a share.

Posted: November 24th, 2009 under Asset Management.
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Markets
London - The FTSE 100 slipped 16.29 points to close at 5,251.41 on Friday. Thomas Cook was the biggest faller on the index, down 4.3%, followed by TUI, down 4%, after Morgan Stanley downgraded the two travel companies. Cable & Wireless was the top riser, up 1.9%, after JP Morgan said the company’s demerger plans would keep management motivated to deliver. This morning the blue chip index has rallied 84.01 points higher at 5,335.42. Miners rebound from losses on Friday to become today’s biggest percentage risers. Eurasian Natural Resources sits on top, up 4.8%.

Posted: November 23rd, 2009 under Asset Management.
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Markets
London - The FTSE 100 dropped 74.43 points to close at 5,267.70 yesterday. Mining stocks dragged the market lower with Xstrata, the world’s fourth biggest copper supplier, falling 5% and Antofagasta, owner of Copper mines in Chile, sliding 5.4%. The day’s biggest riser was the world’s second-largest brewer, SABMiller, which rose 3.4% after its half-year profits beat analysts’ expectations. Today the FTSE is 32.80 points higher at 5,300.50. Miners rebound, led by Fresnillo, up 2.5%. Thomas Cook is the biggest percentage faller after Morgan Stanley downgraded the stock, reflecting a weaker operating environment and more expensive debt refinancing.

Posted: November 20th, 2009 under Asset Management.
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Markets
London - The FTSE 100 slipped 3.8 points to close at 5,342.13 yesterday. Marks and Spencer shares jumped 5.9% to 390p after the retailer said Morrison’s chief Marc Bolland was to become its chief executive in the New Year. In contrast, shares in Morrison’s fell 5% on the news. Cadbury was up 1.2% after US firm Hershey and Italy’s Ferrero said they were considering a bid for the firm. ITV rose 3.5% after it appointed Archie Norman as its new chairman. This morning the index is down 2.75 points at 5,339.38. Morrison, National Grid and Sabmiller are in the spotlight after giving trading updates.

Posted: November 19th, 2009 under Asset Management.
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Markets
London - The FTSE 100 lost 36.74 points to close at 5,345.93 yesterday. Miners dominated the fallers, retreating in line with commodity prices. Intertek Group, the world’s largest tester of consumer goods, sank 2.8% after forecasting slowing growth in the second half. Cable & Wireless rose 2% after it announced plans to raise £200m and said it should have completed its split into two firms by next March. This morning the index is 11.77 points higher at 5,357.7. Today the UK revisits the property theme with Bovis Homes, Land Securities and Wolseley slated to update the market. Wolseley is currently 2.3% lower after its 3Q trading update shows the company continues to experience challenging trading conditions in all of its regions. Miners rebound, with Fresnillo topping the risers, up 2.45%.

Posted: November 18th, 2009 under Asset Management.
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