March 18, 2011

National Grid leads utilities, FTSE 100 higher in London

by Elaine Frei
European equities markets were higher Friday after the G-7 group of nations agreed to intervene to weaken the Japanese yen and on the announcement of a cease-fire in Libya. Libya’s foreign minister announced the cease-fire shortly after the United Nations Security Council passed a resolution approving any action necessary short of foreign troops on the ground in the North African nation to protect the safety of civilians there, with approved actions ...

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March 17, 2011

ARM Holdings adds 5.85 percent in London

by Elaine Frei
European equities markets were higher Thursday, with gains coming on hopes that an emergency meeting of finance ministers from the G-7 nations will help soothe nervous investors worried about the economic effects of last week’s earthquake and tsunami in Japan, and the ongoing nuclear crisis triggered by the disaster. The FTSE 100 added 1.75 percent to 5,696.11 in London, while the FTSE 250 was up 1.84 percnet to 11,236.4. Chipmaker ARM Holdings ...

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March 16, 2011

Standard Life leads insurers, FTSE 100 lower

by Elaine Frei
European equities markets were lower again Wednesday, with declines coming on concerns that conditions in Japan will worsen on reports that the containment vessel at a unit of the Fukushima nuclear power plant may have been breached, which could result in the release of more radiation into the atmosphere. Also hurting markets was a report from the US Commerce Department that US housing starts were down by 22.5 percent in February, ...

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March 15, 2011

National Grid leads London utilities lower

by Elaine Frei
European equities markets were lower Tuesday on concerns about nuclear contamination after Japanese Prime Minister Naoto Kan warned that the danger of larger radiation leaks at the Fukushima nuclear power plant is growing, asking those within 30 km (19 miles) of the plant, damaged in Friday’s earthquake, to remain inside their homes. There have been three explosions and a fire at the nuclear power facility since a magnitude-9.0 earthquake and tsunami ...

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February 24, 2011

House prices still under pressure

by Brian Turner
The Telegraph reports on a recent release from Rightmove that there are now double the amount of properties on the market than mortgages being approved. Of especial concern is that sellers are proving very reluctant to reduce prices to increase the chances of a sale. The bottom line is that any property is only worth what someone is willing to pay, and the lack of First Time Buyers in the market ...

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RBS loses £1 billion, crisis not over yet

by Brian Turner
Reminder: the financial crisis is anything but over. This is underlined by the fact the Royal Bank of Scotland posted a £1.1 billion loss. While the loss is particularly linked to Ulster Bank, which is a RBS subsidiary and has guaranteed 100% mortgages in the Irish Republic, it demonstrates how the European banking system is still in crisis. We still have issues of denial about the extent of problems in the ...

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January 19, 2011

Banks lower as FTSE loses 1.32%

by Brian Turner
Despite general gains throughout the day, the FTSE 100 was down 1.32% (79.73 points) by the end of trading as the markets saw profit selling and taking after gains over recent months. Banks tended to especially lose out after performing well over recent weeks, with Barclays down 3.32%, Lloyds down 2.36%, RBS down 1.28%, and HSBC down 0.73%. Other losers among the big companies included Imperial Tobacco Group (-5.04%), Taylor Wimpey ...

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January 14, 2011

FTSE 100 muted Friday

by Brian Turner
The FTSE 100 was down 0.36% today after a few days of gains in the banking and energy sectors, with the FTSE 250 and FTSE all share down 0.21% and 0.33% respectively. Atlantic Coal and PPA (Pan Pacific Aggregates) were the biggest gainers among the small caps, gaining 13.02% and 19.35%, with some other small energy companies following suit. Recent gains among banks slowed, but Barclays continued up 1.63% to 311 pence ...

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January 11, 2011

Banks and energy leads London up

by Brian Turner
London trading saw a return of confidence, not least after Japan and China affirmed their commitment to buying up European bonds to support the region's sovereign rescue fund. Banks gained from increased investor confidence, with Barclays (BARC) leading the rally, up 5.53% on the day, with HSBC (HSBCA) up 2.42%, Lloyds (LLOY) up 1.52%, and RBS (RBS) up 1.92%. Energy stocks also saw gains: BP continued to engage investor confidence, not least ...

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January 22, 2010

Crude, precious metals prices fall; base metals mixed

by Elaine Frei

Crude oil prices fell again Friday, with March contracts for West Texas Intermediate crude down $1.23 to $74.85 per barrel at about half an hour before the close of floor trade on the New York Mercantile Exchange, while March Brent crude was $1.49 percent lower on the ICE Futures Europe exchange in London. Nymex February gasoline futures were a cent ...

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January 13, 2010

Oil prices fall as US inventories swell

by Elaine Frei

Oil prices slid Wednesday after the US Energy Information Administration said that crude oil stockpiles were higher last week. In midday trade, February contracts for West Texas Intermediate crude were down 99 cents to $79.80 per barrel after going as low as $78.37 per barrel earlier in the session in the New York Mercantile Exchange, while at last report February ...

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January 11, 2010

Crude oil trades lower, but most metals prices rise

by Elaine Frei

Crude oil prices were lower Monday by late morning in New York after having been up slightly earlier in the session on demand from China, a weaker dollar and cold weather in the United States, but the retail price for gasoline in the US continued its upward spiral overnight. February contracts for West Texas Intermediate crude was 32 cents ...

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January 6, 2010

Crude prices up despite rising oil, gasoline inventories in US

by Elaine Frei

Crude oil prices were down Wednesday directly after the US Energy Information Administration issued its weekly US inventories report, but by midday prices in New York had more than made back those early declines. The EIA reported that crude oil inventories grew by 1.3 million barrels last week, while gasoline stockpiles jumped by 3.7 million barrels when they ...

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January 4, 2010

Crude oil, metals prices start year with gains

by Elaine Frei

Crude oil prices rose to begin the New Year on Monday, starting out at nearly twice its price at the beginning of last year on a weaker US dollar and on weather forecasts that say that the eastern half of the US will have colder than normal weather through the middle of January. February contracts for West Texas Intermediate crude ...

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December 22, 2009

Crude prices up, metals lower ahead of holidays

by Elaine Frei

The price of crude oil was higher Tuesday, regaining early declines after the US dollar dropped gains versus the euro and on new data from the National Association of Realtors showing that existing home sales in the US grew by 7.4 percent in November over the previous month. Meanwhile, the Organization of Petroleum Exporting Countries left production quotas unchanged ...

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December 17, 2009

Natural gas prices rise as other energy, metals prices decline

by Elaine Frei

Natural gas prices were higher Thursday after the US Energy Information Administration reported that inventories dropped the most ever last week, falling 207 billion cubic feet to 3.57 trillion cubic feet , still nearly 14 percent above the five-year average for this time of year. The drawdowns came as cold weather hit major population centers in the ...

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December 16, 2009

Crude oil, metals prices jump on data

by Elaine Frei

Crude oil prices saw gains Wednesday after the US Energy Information Administration reported that crude oil and distillates inventories fell more than expected last week and gasoline stockpiles grew less than had been anticipated, while a weaker US dollar also boosted prices. Crude oil inventories were down 3.7 million barrels in the US in the week ending 11 December, while distillates ...

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December 14, 2009

Crude falls in New York, metals gain on session

by Elaine Frei

Crude oil prices were mixed Monday, falling slightly in New York trade about fifteen minutes before the close of floor trade but gaining slightly in London. January contracts for West Texas Intermediate crude were 16 cents lower to $69.71 per barrel not long before the close of the floor trade session on the New York Mercantile Exchange, while Brent ...

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December 9, 2009

US inventories send oil prices lower

by Elaine Frei

Crude oil prices were lower Wednesday after the US Energy Information Administration reported that while crude oil stockpiles fell by 3.8 million barrels during the week ending 4 December, gasoline inventories added 2.2 million barrels and distillates, including heating oil and diesel fuel, added 1.6 million barrels to storage. At about half an hour before the close of floor trade on the ...

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December 8, 2009

WTI, Brent see declines on stronger dollar

by Elaine Frei

Crude oil prices were lower again Tuesday, dropping for a fifth session in a row, as the US dollar strengthened and after disappointing reports on manufacturing from Germany and the U.K. January contracts for West Texas Intermediate crude was down $1.31 to $72.62 per barrel on the New York Mercantile Exchange, while January Brent crude dropped 91 cents to $75.52 per ...

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