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UK Market Update Archive:

ArcelorMittal Buys Miner; BAA May Sell Airports Aug 20, 3:46 PM ET

Miners rise on firmer prices of metal. Tullow Oil gains on rating upgrage from UBS.

The Competition Commission today blamed BAA Ltd for poor services and air delays and may order the company to sell Gatwick or other airports. Selling airports is not likely to solve any problem unless new runways are added. The Ferrovial SA unit disagreed with the assessment. London Heathrow Airport is one of the most expensive airports in the world to fly to or transit through and has one of the worst delays in last one year.

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European Markets Fall, Weak Banks Aug 19, 2:37 PM ET

Banks in the region fell sharply after an estimate of $4 billion loss at Lehman Brothers made rounds.

Stocks in London trading fell as in the region on estimates of large losses at Lehman Brothers and a sharp rise in inflation in Germany and in the U.S. European markets across the region fell 2% or more. A further indication of global economic slowdown lowered market averages. The Bank of Japan left its key rate at 0.5% and cited further weakening in the global economy. July producer price index in Germany rose at 2% from June and surged 8.9% from the month a year ago.

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Home Prices Fall; Weak Economic Forecast Aug 18, 5:38 PM ET

The British trade association forecasted weak economy till the end of the year 2009. UK home prices fell in August.

Stocks in London fell sharply after house prices fell 4.8% in August and a report by the British Chambers of Commerce indicated that economic growth will fall to negative or zero in the next three quarters. Bradford & Bingley said 72% of its shareholders rejected offer to participate in rights offering and appointed new chief executive. Woolworths rejected bid from Iceland Foods that involved complex restructuring.

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Pound Falls, Page Rejects Adecco Offer Aug 15, 3:55 PM ET

Metals and energy stocks fell as crude oil and metals prices declined. Michael Page rejected takeover offer from Adecco.

UK stocks declined as weakness in oil and metals prices dragged benchmark index lower. Anglo American, BHP Billiton and Rio Tinto declined between 4% and 6%. Michael Page dropped 5% after it rejected an offer from Adecco SA that valued the company at $2.4 billion or 400pence a share. The pound dropped for the second week in a row as interest rates are likely to decline on weakening economy. The pound dropped 1% before recovering to close 0.3% lower in the session and lost 3% in the week.

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Metals, Oil Fall as Dollar Rises Aug 15, 3:57 PM ET

In the commodities trading metals and crude oil fell sharply today as dollar rebounds from its historic lows against euro and pound.

Commodities fell sharply in the morning trading after dollar rose and sentiment improves in the favor of the currency. Gold 3% to $772 before recovering to $791 an ounce but silver dropped 11%, platinum declined 9% and crude oil fell 2%. U.S. stocks are expected to open mix as dollar continues to climb from its lows against euro and pound. The pound has lost nearly 5.5% in the last two weeks of trading.

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Stocks Gain Trimmed, Commodities Rise Aug 14, 3:09 PM ET

UK stocks gains were trimmed after the release of inflation data in the U.S. and Euro zone. Commodities related stocks rebounded from six-month low.

UK stocks gained as much as 1.7% on a sharp rise in commodities stocks. The benchmark index closed up 0.9% after the release of inflation data in the U.S. Euro zone inflation reached 4% in the last month according to the latest data released today. British Air, American Airlines and Iberia signed a joint business tie up and plan to seek approval from the U.S. and European authorities. Barclays fell after analyst at Goldman Sachs estimated £1.5 billion of losses in the next 18 months.

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BoE Lowers Growth, Pound Falls Aug 13, 5:05 PM ET

UK unemployment rose to 2.7% in July after rising at 2.6% in June and wage growth fell to a 5-year low.

The Bank of England lowered its economic growth estimate for UK economy to 0.1% from 1% in the first quarter of 2009. The lowered economic expectations dragged British pound to the lowest level in nearly two years. Interest rates are likely to fall in the coming months as economy falters. Financials fell after ING reported a earnings fall of 28%. Barclays, Royal Bank of Scotland and HSBC declined.

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Retailers Lead, Producer Prices Rise 10% Aug 11, 8:28 PM ET

Retailers Wolseley, Marks & Spencer, Next and Carphone Warehouse rose 5% on a fall in crude oil.

UK stock indexes rose fractionally after Wolseley led retailers higher and crude oil prices fell despite the simmering conflict between Russian and Georgia. The conflict if widens may disrupt energy supplies in Europe. The conflict if widens may disrupt energy supplies to Germany and Italy. The producer price index rose 10% in the year to June. Ireland home prices fell 0.6% in June from May and fell 5% from a year ago.

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Schroders Profit Falls, RBS Loss Aug 08, 5:23 PM ET

UK stocks edged higher after a steady drop in crude oil prices. The decline lifted airlines and consumer stocks. Miners fell.

Stocks in London rose fractionally after a steady decline in crude oil prices lifted airlines, retailers and transportations companies. However, miners fell after commodities prices declined. Of the 102 FTSE 100 stocks 72 rose, and 30 declined. British Airways led advancers in the index shares with a rise of 8.14% after crude oil prices for September delivery plunged 3.3% to $116.10 a barrel. Schroder profit fell 28% and RBS reported its first quarterly loss in four decades.

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BoE, ECB on Hold; Barclays Profit Decline 35% Aug 07, 4:59 PM ET

Barclays reported 35% decline in profit after it reported twice the amount of write downs than a year ago.

The Bank of England left its key rate unchanged at 5% and ECB left its key rate at 4.25%. UK is facing slowing housing market and manufacturing and service sectors and retail sales are falling as well. However, food and energy prices are rising. The economies in Europe and UK are slowing down but inflation pressures are expected to rise. The comments of the ECB chief were interpreted as further hikes in the rates are less likely and may be lowered by the end of the year.

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