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FTSE 100 Steady During Light TradingNews - Friday, July 03, 2009
Trading on the London Stock Exchange was light on Friday, with little in the way of corporate news, and markets in the U.S. closed for the 4th July holiday.
This was in contrast to Thursday, when poor U.S. unemployment figures and a $2 a barrel fall in the price of crude oil, to below $67 a barrel, encouraged selling, and shaved more than 2% off the FTSE 100 index. Share prices recovered slightly on Friday, such that, by midday, the blue chip index was up 8 points at 4,242.
Publisher Reed Elsevier led the way as media stocks received a boost from Credit Suisse, which upgraded the sector to overweight, saying that it had underperformed the market by 24% since its peak in March. Conversely, resource stocks took most points off in the index, reflecting the fall in commodity prices. Cairn Energy and Petrofac were the worst performers amongst oil related stocks, while, in the mining sector, Kazakhyms, Rio Tinto and Vedanta Resources were also major fallers. The largest mining company in the world, BHP Billiton, was also down 0.7%, on the news that it is to sell on Yabulu nickel refinery in Queensland, Australia, writing down an estimated $500 million, plus a further estimated $175 million in unrecoverable tax benefits.
Elsewhere, financial services group Friends Provident was the worst performer amongst FTSE 100 constituent companies, down 6.89%, at 63.40p, as the market adjusted to the de-merger of its 52% stake in F & C Asset Management.
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Want to buy shares online?
Online share dealing enables you to deal in shares via your computer at a time and place that suits you.
Traditionally, shares were purchased through stockbrokers or banks, but these methods can prove costly, time-consuming and cumbersome. The shareholder would have to handle a lot of paperwork including share certificates, company reports and accounts, and stockbrokers could charge a premium for their expertise.
With online share dealing, you have instant access to information on companies and share prices, and can buy or sell shares straightaway. Furthermore, you do not have to hold share certificates, as they are held electronically. Learn more about share dealing.
Share Prices
Receive share prices from the London Stock Exchange within the FTSE 100, 250 and 350. Monitor the days most popular shares alongside the largest risers and fallers within the FTSE
Online Share Dealing
Online share dealing enables you to deal in shares via your computer, therefore giving you flexibility in terms of time and location. It is also easier, quicker and less expensive than traditional methods.
ISA's
It's easy to be confused about Individual Savings Accounts (ISAs). Everything from their name to the amount of cash you could put into an ISA has changed but hopefully we'll help clear up any ongoing confusion.
Investments
The range of investments available nowadays means that the term "investment" can mean different things to different people. Essentially all investments are based on using money to try to make more money.
