Market overview: Footsie closes lower after choppy day
Nov 20, 2009
Print this article
16:30 Close Footsie closed slightly in the red Friday after a volatile day's trading.
Among the risers was the miner Antofagasta, which jumped in early dealings, but then fell back as metal prices gave up their early gains only to recover later in the afternoon. Gold miner Randgold also finished near the top.
Further speculation over a possible joint bit from Ferrero and Hershey sweetened the share price of Dairy Milk maker Cadbury. Reports say Ferrero may be interested in the UK firm's sweet and gum division as part of a break-up.
US bank Morgan Stanley has rained on the parade of package tour operators Thomas Cook and TUI Travel. The bank has cut its rating on both stocks, prompting sharp mark downs of both stocks.
Meanwhile, in the FTSE 250, National Express raced ahead to lead the risers in the FTSE 250 after its deputy chairman Jorge Cosmen spent more than £1.7m lifting his stake in the train and bus operator.
FTSE 100 closed down 16 at 5,251.
16:05 Shares in National Express have raced ahead to lead the risers in the FTSE 250 after its deputy chairman Jorge Cosmen spent more than £1.7m lifting his stake in the train and bus operator. Meanwhile in the FTSE 100 platinum refiner Johnson Matthey leads the risers while package tour giants Thomas Cook and TUI Travel are the two worst performing blue-chip stocks after Morgan Stanley downgraded both. FTSE 100 down 10 at 5,257.
15:00 The US has opened lower but Footsie has seen an improvement and is now flat again. Platinum refiner Johnson Matthey is now the best performer, closely followed by copper miner Antofagasta. Package tour giants Thomas Cook and TUI Travel are the two worst performing blue-chip stocks after Morgan Stanley downgraded both. FTSE 100 flat at 5,268.
13:55 Footsie is still in the red after its sharp turnaround earlier today. Package tour giants Thomas Cook and TUI Travel are the two worst performing blue-chip stocks after Morgan Stanley downgraded both. Thomas Cook has been cut to 'underweight' from 'equal weight' and its price target chopped to 230p from 270p, while TUI Travel has been downgraded to 'equal weight' from 'overweight', and its price target reduced to 290p from 320p. FTSE 100 down 23 at 5,246.
12:40 Footsie has tumbled into the red amid a sharp reversal in the fortunes of mining stocks. Silver miner Fresnillo had been the top riser as commodity prices rallied but is now in the red as prices for metals come back. Thomas Cook and TUI Travel are still at the bottom of the pile after downgrades from Morgan Stanley. FTSE 100 down 39 at 5,228.
11:50 Footsie is flat now as strength in the dollar hits commodity prices which in turn dents some of the gains posted by miners this morning. Silver specialist Fresnillo is now the only mining stock in the top 10. Thomas Cook and TUI Travel are still at the bottom of the pile after downgrades from Morgan Stanley. FTSE 100 flat at 5,267.
10:45 Among the stocks lifting Footsie today is the telecommunications group Cable & Wireless, which has announced a telephony tie-up with supermarket Tesco. Miners are among the risers as they recover from yesterday's losses. Silver specialist Fresnillo leads the sector higher. FTSE 100 up 21 at 5,289.
10:00 Precious metal stocks are leading Footsie higher, with silver miner Fresnillo leading the way and platnium specialist Lonmin not far behind. Mining stocks have rebounded following losses yesterday. Thomas Cook and TUI Travel are still at the bottom of the pile after downgrades from Morgan Stanley. FTSE 100 up 40 at 5,308.
09:10 Miners have Footsie in the blue after recovering some of yesterday's losses. Silver specialist Fresnillo leads the sector higher. Among the fallers are Thomas Cook, downgraded to 'underweight' from 'equal-weight' at Morgan Stanley and fellow travel group TUI, downgraded to 'equal-weight' from 'overweight'. FTSE 100 up 30 at 5,298.
08:40 Blue chips are moving upward again with the miners back in favour. Lonmin, Kazakhmys and Randgold are the best of the bunch. Cable & Wireless is also doing well on its telephony tie-up with Tesco. Travel groups Thomas Cook and TUI Travel are faring badly so far. FTSE 100 up 32 at 5,301.
Related articles
