Stock Market News
London close: China bank move hits miners
12-02-2010 17:11
| Add To Google +1 | Tweet |
It was a jittery day for the FTSE 100, with stocks' early gains wiped out following a move by the Chinese authorities to lift the reserve requirements for banks by half a percentage point in order to cool down the Chinese economy.
The leading share index actually crept back into the blue, but a poor performance from US shares helped send stocks back into the red.
Miners, dependent on China for metals demand, were among the heaviest fallers.
Fresnillo, Antofagasta, Kazakhmys, Xstrata and Vedanta fell back but fellow miner Rio Tinto's fall was cushioned by reports that it is pushing for a hefty hike in the price of iron ore.
Banks were also out of favour with the results season about to get underway next week starting with Barclays. Lloyds Banking, Royal Bank of Scotland and Barclays were the worst performers, as uncertainty over the Greek bail-out takes its toll.
On the company front, Micro Focus, the enterprise application modernisation and testing software company, said it is on track to meet full year expectations after a solid third quarter. The group said it experienced an improvement in organic revenue growth in the quarter ended 31 January compared to the first six months of the year.
Buoyant conditions over Christmas sparked healthy tenant demand for Shaftesbury's properties in the West End of London, especially for shops and restaurants and now offices. The property group says it continues to secure lettings at or above its valuers' last estimated rental value, with the number of vacant outlets dropping to 55,000 square feet at end January from 70,000 at end September.
Sticking with the property sector, Helical Bar is seeing signs that the London office market is recovering and, while still cautious, is confident of growth in the 'foreseeable future'. Chief executive Michael Slade also says good progress is being made at its mixed use schemes at Fulham Wharf, King Street Hammersmith and White City.
Petropavlovsk, formerly Peter Hambro Mining, has made Blackrock's former star fund manager Graham Birch a non-executive director with immediate effect. Birch announced his departure from Blackrock, where he was responsible for around $40bn of assets, in January following a nine-month sabbatical.
Durex condoms and Scholl footcare products maker SSL has exercised an option to increase its stake in the holding company for its CIS (Commonwealth of Independent States) business BLBV to 75%. SSL said it has agreed a further option to take its shareholding in BLBV to 100% which is exercisable in 2011.
Theatre production promoter First Artist has sold its agent's business for a net £175,000 as part of its plan to focus solely on its media promotion business. Trading in these ongoing media businesses, however, remains mixed with results for the 15 months to end November now forecast to come in lower than previous expectations.
Packaging maker Robinson has slowed the decline in revenues with sales down just 2% in the second half following a 15% slump in the first six months of the financial year. The group, which publishes figures for the year ended 31 December on 26 March, says annual revenue of £23.8m is down 8% but in line with management's expectations.
Christmas went well for card, crackers and stationery group International Greetings, with sales for the last 10 months on track. "Customer sell-through was strong and we maintained high levels of customer service. We were pleased to further strengthen our business in the growing discount and value retail market," it said.
FTSE 100 - Risers
National Grid (NG.) 640.00p +2.56%
BT Group (BT.A) 122.50p +2.17%
United Utilities Group (UU.) 538.00p +1.70%
TUI Travel (TT.) 264.00p +1.69%
International Power (IPR) 329.20p +1.42%
GlaxoSmithKline (GSK) 1,229.00p +1.40%
Reckitt Benckiser Group (RB.) 3,313.00p +1.31%
Diageo (DGE) 1,030.00p +1.18%
Man Group (EMG) 220.50p +1.10%
Reed Elsevier (REL) 489.00p +0.87%
FTSE 100 - Fallers
British Airways (BAY) 195.50p -4.12%
Lloyds Banking Group (LLOY) 46.59p -3.24%
Rolls-Royce Group (RR.) 506.50p -2.69%
Legal & General Group (LGEN) 69.80p -2.65%
Vedanta Resources (VED) 2,363.00p -2.52%
Xstrata (XTA) 1,005.00p -2.47%
Barclays (BARC) 262.00p -2.37%
Petrofac Ltd (PFC) 988.00p -2.27%
Royal Bank of Scotland Group (RBS) 31.25p -1.95%
Aviva (AV.) 359.90p -1.91%
FTSE 250 - Risers
Ferrexpo (FXPO) 230.00p +9.42%
PV Crystalox Solar (PVCS) 51.95p +6.02%
Catlin Group (CGL) 344.70p +2.65%
DS Smith (SMDS) 112.00p +2.38%
HMV Group (HMV) 73.80p +2.36%
Hargreaves Lansdown (HL.) 320.00p +2.30%
Rathbone Brothers (RAT) 815.00p +2.26%
Kier Group (KIE) 954.00p +2.03%
Big Yellow Group (BYG) 338.00p +1.96%
BTG (BGC) 175.20p +1.86%
FTSE 250 - Fallers
Pace (PIC) 172.10p -6.01%
Trinity Mirror (TNI) 134.00p -5.23%
Ashtead Group (AHT) 77.45p -5.03%
Computacenter (CCC) 285.00p -5.00%
Punch Taverns (PUB) 76.00p -5.00%
Game Group (GMG) 84.70p -4.99%
Cranswick (CWK) 737.50p -4.10%
Tullett Prebon (TLPR) 267.40p -4.09%
Enterprise Inns (ETI) 104.90p -3.94%
Dana Petroleum (DNX) 998.00p -3.67%
The leading share index actually crept back into the blue, but a poor performance from US shares helped send stocks back into the red.
Miners, dependent on China for metals demand, were among the heaviest fallers.
Fresnillo, Antofagasta, Kazakhmys, Xstrata and Vedanta fell back but fellow miner Rio Tinto's fall was cushioned by reports that it is pushing for a hefty hike in the price of iron ore.
Banks were also out of favour with the results season about to get underway next week starting with Barclays. Lloyds Banking, Royal Bank of Scotland and Barclays were the worst performers, as uncertainty over the Greek bail-out takes its toll.
On the company front, Micro Focus, the enterprise application modernisation and testing software company, said it is on track to meet full year expectations after a solid third quarter. The group said it experienced an improvement in organic revenue growth in the quarter ended 31 January compared to the first six months of the year.
Buoyant conditions over Christmas sparked healthy tenant demand for Shaftesbury's properties in the West End of London, especially for shops and restaurants and now offices. The property group says it continues to secure lettings at or above its valuers' last estimated rental value, with the number of vacant outlets dropping to 55,000 square feet at end January from 70,000 at end September.
Sticking with the property sector, Helical Bar is seeing signs that the London office market is recovering and, while still cautious, is confident of growth in the 'foreseeable future'. Chief executive Michael Slade also says good progress is being made at its mixed use schemes at Fulham Wharf, King Street Hammersmith and White City.
Petropavlovsk, formerly Peter Hambro Mining, has made Blackrock's former star fund manager Graham Birch a non-executive director with immediate effect. Birch announced his departure from Blackrock, where he was responsible for around $40bn of assets, in January following a nine-month sabbatical.
Durex condoms and Scholl footcare products maker SSL has exercised an option to increase its stake in the holding company for its CIS (Commonwealth of Independent States) business BLBV to 75%. SSL said it has agreed a further option to take its shareholding in BLBV to 100% which is exercisable in 2011.
Theatre production promoter First Artist has sold its agent's business for a net £175,000 as part of its plan to focus solely on its media promotion business. Trading in these ongoing media businesses, however, remains mixed with results for the 15 months to end November now forecast to come in lower than previous expectations.
Packaging maker Robinson has slowed the decline in revenues with sales down just 2% in the second half following a 15% slump in the first six months of the financial year. The group, which publishes figures for the year ended 31 December on 26 March, says annual revenue of £23.8m is down 8% but in line with management's expectations.
Christmas went well for card, crackers and stationery group International Greetings, with sales for the last 10 months on track. "Customer sell-through was strong and we maintained high levels of customer service. We were pleased to further strengthen our business in the growing discount and value retail market," it said.
FTSE 100 - Risers
National Grid (NG.) 640.00p +2.56%
BT Group (BT.A) 122.50p +2.17%
United Utilities Group (UU.) 538.00p +1.70%
TUI Travel (TT.) 264.00p +1.69%
International Power (IPR) 329.20p +1.42%
GlaxoSmithKline (GSK) 1,229.00p +1.40%
Reckitt Benckiser Group (RB.) 3,313.00p +1.31%
Diageo (DGE) 1,030.00p +1.18%
Man Group (EMG) 220.50p +1.10%
Reed Elsevier (REL) 489.00p +0.87%
FTSE 100 - Fallers
British Airways (BAY) 195.50p -4.12%
Lloyds Banking Group (LLOY) 46.59p -3.24%
Rolls-Royce Group (RR.) 506.50p -2.69%
Legal & General Group (LGEN) 69.80p -2.65%
Vedanta Resources (VED) 2,363.00p -2.52%
Xstrata (XTA) 1,005.00p -2.47%
Barclays (BARC) 262.00p -2.37%
Petrofac Ltd (PFC) 988.00p -2.27%
Royal Bank of Scotland Group (RBS) 31.25p -1.95%
Aviva (AV.) 359.90p -1.91%
FTSE 250 - Risers
Ferrexpo (FXPO) 230.00p +9.42%
PV Crystalox Solar (PVCS) 51.95p +6.02%
Catlin Group (CGL) 344.70p +2.65%
DS Smith (SMDS) 112.00p +2.38%
HMV Group (HMV) 73.80p +2.36%
Hargreaves Lansdown (HL.) 320.00p +2.30%
Rathbone Brothers (RAT) 815.00p +2.26%
Kier Group (KIE) 954.00p +2.03%
Big Yellow Group (BYG) 338.00p +1.96%
BTG (BGC) 175.20p +1.86%
FTSE 250 - Fallers
Pace (PIC) 172.10p -6.01%
Trinity Mirror (TNI) 134.00p -5.23%
Ashtead Group (AHT) 77.45p -5.03%
Computacenter (CCC) 285.00p -5.00%
Punch Taverns (PUB) 76.00p -5.00%
Game Group (GMG) 84.70p -4.99%
Cranswick (CWK) 737.50p -4.10%
Tullett Prebon (TLPR) 267.40p -4.09%
Enterprise Inns (ETI) 104.90p -3.94%
Dana Petroleum (DNX) 998.00p -3.67%
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- UK 100 Shares
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways share price
- Centrica share price
- Tesco share price
- National Grid share price
- RBS share price
- GSK share price
- Marks and Spencer
- Rolls Royce share price
- Banco Santander price
- Rio Tinto share price
- Amec Share price
- Corac share price
- Lookers share price
- Telecom plus share price
- Kier share price
- Punch taverns price
- Blinkx share price
- Tan share price
- Yell share price
- Rsa share price
- Pendragon share price
- Logica share price
- Bat share price
- Sky share price
- Kingfisher share price
- Dragon Oil share price
- Desire Petroleum share price
- RRL share price
- BPC share price
- VOG share price
- SAR share price


Prices

