Financial News

LONDON (ShareCast) - 1540: Footsie (news) has shrugged off its early torpor and is now powering ahead driving by a renewed surge of buying on Wall Street. The Dow is up over 140 points on the back of a string of better than expected earnings statements. In the UK, it is the miners that are leading the rally. Fresnillo (LSE: FRES.L - news) , ENRC and Kazakmys are the best of a strong bunch. FTSE 100 up 45 at 4,539.

1445: For the second day in a row Footsie is hovering around the zero mark as it struggles to hold onto recent gains. Water companies are under pressure after Ofwat's initial price review for the next five years, but miners are going well. FTSE 100 down 2 at 4,490.

1351: Footsie is picking up ahead of the US open with modest gains predicted for the Dow. Tate & Lyle is pushing ahead on an upbeat trading statement, but water companies are under pressure after Ofwat's initial price review for the next five years. FTSE 100 down 1 at 4,493.

1204: Footsie is drifting lower with the water companies under pressure from a surprisingly tough price review from Ofwat. United Utilities (LSE: GB0006462336.L - news) , Severn Trent (LSE: SVT.L - news) and Pennon are all under the cosh. Compass is also hard hit after disappointing third quarter sales. Miners have bounced back led by Fresnillo, Vedanta and ENRC, which is limiting Footsie's decline. FTSE 100 down 13 at 4,480.

1030: London is down 4 at 4,489, still within easy reach of positive territory and a possible ninth consecutive day of gains. US futures are currently indicating a positive start when trading gets underway later. Over here, each of the top 10 risers is a miner, led by Fresnillo, Kazakhmys (LSE: KAZ.L - news) , Eurasian Natural Resources and Vedanta on better metal prices. Utilities remain stunned by Ofwat's proposals. Severn Trent is off 7%, United Utilities 6% and Pennon 4%.

0930: London's top stocks are just below flat as utility firms are pushed lower after water regulator Ofwat outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities, Severn Trent, Pennon Group (LSE: PNN.L - news) and Centrica (LSE: CNA.L - news) are all down. Miners are still trying to keep the markets higher with Fresnillo, Kazakhmys, Vedanta Resources (LSE: VED.L - news) , Xstrata (LSE: XTA.L - news) and Rio Tinto (LSE: RIO.L - news) are the five biggest risers for the day. FTSE 100 down 5 to 4488.

0822: London's top stocks have opened slightly lower, with utilities among the main fallers after Ofwat called for lower water bills. The water regulator outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities is leading the fallers, while Severn Trent, Pennon Group and Northumbrian are also down.

On the positive side, miners Fresnillo, Kazakhmys, Vedanta Resources, Rio Tinto, BHP Billiton (LSE: BLT.L - news) and Anglo American (LSE: AAL.L - news) are all among the top ten risers. FTSE 100 is down 4 points at 4,490.