Friday August 8, 03:31 PM
Market overview: FTSE 100 up 10
LONDON (ShareCast) - 1525: Footsie (news) has bounced back after falling deep into the red. The lower oil price dictates much of the movement, with British Airways (LSE: BAY.L
- news) leading the risers but oil stocks featuring among the heaviest fallers. Kazakhmys (LSE: KAZ.L - news) leads mining stocks down in line with falling metals prices. FTSE 100 up 10 at 5,488.1430: Footsie is sharply lower now, with struggling resource stocks now winning out against buoyant travel stocks. Kazakhmys leads miners lower as metals prices fall, while Tullow is the oil stock worst hit by the lower crude price. Travel agents Thomas Cook (LSE: TCG.L - news) and TUI Travel (LSE: TT.L - news) benefit from the prospect of cheaper fuel though, as do British Airways and cruise operator Carnival (NYSE: CCL - news) . FTSE 100 down 59 at 5,418. 1255: Footsie has edged a little lower, with resources stocks slipping back in line with lower metal and oil prices. Miner Kazakhmys is the heaviest faller, while Tullow leads oils stocks down on falling crude prices. Real (Frankfurt: BJU.F - news) estate giant Liberty International falls after JP Morgan downgraded it to 'underweight' from 'neutral'. Thomas Cook leads the risers, helped by cheaper oil. FTSE 100 down 16 at 5,461. 1145: Footsie is still flat, with travel stocks going well on lower crude prices, but oil and mining companies tracking commodities lower. Travel agent Thomas Cook leads the risers, joined in the top 10 by TUI Travel and British Airways. Among the other risers are RBS (LSE: RBS.L - news) , whose £691m loss was not as bad as feared. British American Tobacco (LSE: BATS.L - news) is down after saying it is seeking approval from the Johannesburg Stock Exchange to obtain a secondary listing there to help Richemont and Remgro restructure their stakes in the company. Kazakhmys leads miners lower in line with falling metals prices. Cairn Energy (LSE: CNE.L - news) and Tullow Oil (Dublin: TQW.IR - news) slip back in line with the lower oil price. FTSE 100 down 3 at 5474. 1050: Footsie is broadly flat now, with building supplies group Wolseley (LSE: WOS.L - news) now leading the way. The lower oil price boosts British Airways and cruise operator Carnival, but sends Tullow Oil lower. Kazakhmys leads miners lower in line with falling metals prices. In the FTSE 250 (news) , Northern Foods (LSE: NFDS.L - news) moves up after Goldman Sachs (NYSE: GS - news) raised its rating on the Goodfella's pizza maker to 'buy' from 'neutral'. FTSE 100 down 3 at 5474. 0920: Footsie stays lower, with mining companies the main fallers on lower metals prices. Ferrexpo (LSE: FXPO.L - news) leads the sector, and the FTSE 100, lower. Oil prices are lower though, helping fuel guzzlers stocks British Airways and cruise operator Carnival to advance. FTSE 100 down 8 at 5,468. 0830: Footsie has started lower with British American Tobacco down after Richemont said it would restructure its stake in the tobacco firm. RBS is higher despite reporting its first loss in 40 years as a publicly traded company after booking credit market writedowns of £5.9bn. The £691m loss for the half-year was lower-than-expected. FTSE 100 down 17 points to 54.
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
