Wednesday, June 30, 2010

FTSE 100 falters on falling miners

By Rachel Cooper 126PM GMT eleven March 2010

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FTSE 250

FTSE 100

Commodity bonds fell bank in sunrise trade on Thursday, as tender materials prices retreated on fears that China could move to rein in the sepulchral economy after acceleration rose some-more than approaching in the year to February.

Silver miner Fresnillo was off some-more than 2pc, whilst Kazakhmys, Rio Tinto and Randgold Resources all featured on the crook board. The FTSE was down around twenty-three points - or 0.4pc - at 5617 at lunchtime.

FTSE struggles on some-more bad headlines at home FTSE 100 binds on to benefit as tellurian convene falters FTSE 100 loses gains as tellurian convene fades FTSE 100 rallies after pointy falls FTSE 100 closes somewhat down

Offsetting the descending miners were retailers, buoyed by heartening formula in the sector. Next, Kingfisher and Home Retail Group all rose up the winners joining table. Although the latter - owners of Argos and Homebase - saw a drop in sales, it revised up the distinction superintendence for the second time in 3 months.

Supermarket sequence Morrisons, that posted a surge in the dividend, dipped around 1.8pc after the association gradual the spike in increase with a discreet opinion on the year ahead.

Among the second tier, takeover tittle-tattle one after another apace - this time, it was Connaught in the frame.

The association that maintains amicable housing surfaced the mid-cap leaderboard in early trade on the behind of conjecture that it was set to embrace a bid from in isolation equity organisation 3i. Traders were muttering that 3i was seeking to lift €350m on the down payment marketplace to buy the company.

But after this morning, there were reports that Connaught had perceived no such proceed and the shares were usually up around 1.4pc by lunchtime, carrying progressing climbed as high as 4pc.

Trailing the mid-caps at lunchtime was Computacenter, that slipped around 4.5pc, notwithstanding a surge in profits.


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