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The FTSE 100 had a good day today, finishing at a 2 month high, which was well received. It closed 73.1 points on the day, or 1.3%, at 5,601.2, whilst the FTSE 250 closed up 134.6 points at 9,271.7.

Over the pond, better-than-expected data showing that the economy over there is growing better than expected soon helped the UK market too. This data helped the financial and retail sectors. The US economy grew at 3.3% annual rate for the 2nd quarter, which is far better than expected. Consumer spending and net exports were both firmer than estimated, with inventories falling slower.

Back here in London, the banks had a really good day. RBS, Barclays, HSBC, Lloyds TSB, Standard Chartered and HBOS were all up well.

Staying in the financials, RSA Insurance closed up nearly 6% on further rumours of a bid from Zurich Financial Services, with neither company wishing to comment.

On to the black stuff, which fell back nearly 3 bucks to just over US$115 bbl. This caused the major oilers to pull back from recent gains, with BP, RD Shell, BG Group, and Cairn Energy all down today.

On to the miners, where there was a mixed day. Kazakhmys was top of the loser board, off 2.5% on the day, after posting over 20% drop in H1 earnings, blaming poor weather. Some peers were also down, with ENRC, Xstrata and Vedanta Resources all down on the day too. However, in favour Rio Tinto and BHP Billiton were up, as were Anto, Anglo American and Ferrexpo.

In to retail, namely supermarkets, where bid rumours saw J Sainsbury close at 344p, up 8% on the day, with the chain declining to comment on the rumours. On to the High Street, where Marks & Sparks had a decent day too, closing up nearly 4%, whilst clothing peer Next rose the same amount, and B&Q owner Kingfisher closed up over 5%.

On to water, where Severn Trent closed down at 1,375p (over 2% fall) after a Goldman Sachs downgrade from ‘neutral’ to ’sell’, with a target down from 1,585p to 1,396p.

On to telecoms, where BT Group had a nice day after a Goldman Sachs uopgrade to ‘buy’ from ‘neutral’. BT closed up nearly 4.5%.

On to property, where media reports that Australia’s Westfield had nearly completed its filling of the retail space ouitlets at the new White City shopping mall at Shepherds Bush was received well. Other commercial property stocks also did well, with Hammerson, British Land and Land Securities all doing well.

Building materials distributor Wolseley also had a decent day, up nearly 6% after the US upbeat news. Wolsely is heavily exposed in the US, hence its recent hammering.

Savills estate agents jumped on the property climbing band wagon, closing up nearly 20% after some good H1 figures. News from Nationwide, the building society, was not so positive, with news that UK house prices were down 2% in August.

On a closing note, Bank of England policymaker David Blanchflower said that a possible 2 million Britons may be out of work by Christmas, adding that some decenmt cuts to UK interest rates are more than needed as soon as possible so to try and prevent the UK economy heading into recession; a ‘deep and prolonged slump’.

The FTSE 100 closed up 57.4 points today at 5,528.1, whcih was up about 93 points from the session’s low.  The FTSE 250 closed up 3.5 points at 9,137.1.

Over the pond, news in the US that new orders for long lasting manufactured goods was up 1.3% for July helped the US markets early doors over there. Also higher commercial aircraft orders was taken as very positive.

On to the black stuff, where US$118 bbl was passed today during session trading. This helped the sector, as did news from Tullow Oil that its H1 profit was up 250% on last time. Tullow closed up 3% on the day. All the heavyweights did well too, with BP, RD Shell, BG Group and Cairn Energy also doing well. Petrofac also announced H1 profit haighrer than expected, up 57% on last year for the same period, helping the oil and gas services firm to close up over 6% on the day.

On the the miners, where Antofagasta announced nearly a 9% rise in H1 earnings, citing copper price increases, helping a nigh-on 4% rise in the share price today. Peers also enjoyed a good day, with commodity prices all rising.  BHP Billiton, Rio Tinto, ENRC and Xstrata all did well today.

On to the banks, where some possible bottom feeding came in to play. RBS, Barclays, HSBC, and HBOS all having apositive day.

On to the housebuilders, where Taylor Wimpey lost alot of its ground made yesterday, closing down over 7% after announcing a drop in H1 profit and adding that it won’t be paying an interim divvy, either. Peers fell in sympathy, with Persimmons, Batrratts and Bovis Homes all closing down.

On to the pharmas, where some profit taking was in play after such a good run with the majors. GlaxoSmithKline, AstraZeneca and Shire Pharma were all down.

Enterprise Inns fell heavily, down nearly 5% after a cazenove downgrade to ‘underperform’ from ‘in-line’.

News from Group 4 - G4S, the security firm, said a 26% rise in H1 operating profit, adding that this year still looks good, helped the shares rise some 6% today.

Some of the FTSE 100 went ex-div, including: commercial property giant Liberty International, Capita Group, insurance group Admiral Group and InterContinental Hotels.
 

The FTSE had a slow start this morning, staying flat in its first hour around the 5,471 level. The commodities were still in fashion, though, with the metals and oil on the up.

Over the pond, the US durable goods data for July is out later on.  This will give a guide on how things are going over there. News that nearly 120 US banks were reported as ‘in trouble’ at the end of the 2nd quarter was concenring. This figure is up from 90 for the 1st quarter. 
 
Back with oil, which was up near US$117 bbl due to the Hurricane in the Gulf of Mexico threatening supplies.  The heavyweights gained, with BP, RD Shell, BG Group, Tullow Oil all up this morning, with Tullows saying profit was up to £126m for the first half of the year.  Oil and gas services firm Petrofac also announced some good figures, with profit up nearly 60% on last year for the same first half, also helping its share price jump 1.5% already today.

On to the miners, where the commodity prices helped the majors.  BHP Billiton, Rio Tinto, Vedanta Resources, Ferrexpo and Anglo American were all up, and Antofagasta up even more, with announcing an 8.8% rise in 1st half earnings helping the Chilean focused group.  Gold was up to $830 ounce as the diollar retreated from a 6 month high.

On to the banks, where a positive start was seen by RBS, Barclays, HSBC, Standard Chartered, and HBOS ll up early doors. RBS was one of the higher performaers, as the bank appointed 3 new directors.

Another positive was BSkyB, which received a Goldman Sachs approval nod, adding the broadcaster to its ‘conviction to buy list’.

On to the housebuilders, where Taylor Wimpey had a poor start today after announcing a heavy fall in H1 profit and added that it won’t be paying its interm divvy, either. Peers also fell, with Persimmon down over 2.5% early doors, barratts down 2% and Bovis down nearly 4% this morning.

The pharma heavyweights also took a hit this monring, with GlaxoSmithKline and Astrazeneca both down this morning. Even Taylor Nelson Sofres was down after news that Germany’s GfK was no longer trying to takeover the mid-cap pharma company.

Some stocks went ex-div, causing a fall back.  These included: Liberty International, Intercontinental Hotels, Insurance giant Admiral Group, and Capita Group.
 
Enterprise Inns fell nearly 4% after a Cazenove downgrade to ‘underperform’ from ‘in-line’.

After returning the Bank Holiday weekend, the FTSE 100 closed down 34.9 points today at 5,470.7, although this was up about 101 points from its low of the day, whilst the FTSE 250 closed down 49.1 points at 2,795.1. The rally came after the US opend, where US consumer sentiment data was better than expected.

Despite oil at US$117 bbl, the oil stocks fell today. BP, RD Shell, BG Group, Tullow Oil and cairn energy were all down, with the worst off 3% on the day.

On to the miners, where the heavyweights also had a poor day, with Xstrata, Anglo American, Vedanta Resources and Antofagasta all down today up to 2.5% each, whilst Kazakhmys & ENRC were both off over 3% on the day.  Rio Tinto tried to boost things by announcing a 55% rise in H1 earnings, but the shares still fell one half of a percent. Rio profits were boosted by the takeover of Alcan last year as well as the increased demand coming from China.  Ukrainian iron ore producer Ferrexpo had the worst day, though, closing down nearly 9% on the day.

On to financials, and our very own London Stock Exchange (LSE:LSE), which didn’t have a good day, closing nearly 3% down after concerns about the new pan-European trading platform was considered, plus the genral negative sentiment around the sector not helping, either.

On to the banks, where a bad day all round was the par for the course, but with one exeption, being HSBC, which closed up 1% on the day.  Not so good for the other banks, where RBS, Barclays, Lloyds TSB, Standard Chartered and HBOS were all down from about half of one percent to 2.5% on the day.

Liberty International had a good day, closing up over 5% after news that US property investor Simon Property Group had upped its holding to 4.22%. Rumours of a full bid did the ropunds, expectedly. Australia’s Westfield Group also announced it was now holding nearly 3% in the firm too.

On to the housebuilders, where Taylor Wimpey had a very good day, closing up over 14% on the day after rumors that a deal had been done on its debt with the banks.  Taylor Wimpey will announce its interims tomorrow. Peers liked the rumours, with Bovis Homes up 3% on the day despite announcing a slump in H1 profit.

The FTSE closed up 135.4 points at 5,506.6 today, finishing the day up 2.5%, and 0.6%on the week, but off 15% on the year. The FTSE 250, meanwhile, closed up a healthy 243.6 ponts at 9,182.7.

The banks were back in demand today, with sentiment actually changing positive, with some belief that the floor was now behind.  RBS, Barclays, HSBC, Standard Chartered, Lloyds TSB, and HBOS were all up well today. Bradford & Bingley had the best day in the sector, though, after informing the market that the underwriters and the banks that had taken up the new 427m shares in the rights issue had agreed to a lock-in period of at least 20 days.

Regarding the major banks’ rises, the cynic in us says that the rise was actually all the traders closing their short positions before the bank Holiday weekend.  But that’s just us.  Although fundamentals will always come through in the end. Just because we all technical trade, longer term positions should obviously be with the facts and figures, especially with share prices that are volotile.

Over the pond, by the time London closed, the DJI was up 155 points at 11,585.56, whilst the S&P500 was up over 9 points at 1,287, and the Nasdaq up nearly 21 points at 2,401. The US Federal Reserve Chairman, Ben Bernanke, said the now the dollar was stabilising and that commodity prrices seem to have peaked and are falling back, this can be seen as encouraging.  News that investment bank Lehman Brothers could end up in a deal with the State-run Korea Development Bank, with the Koreans confirming Lehamns as one option for acquisition.

Back here in the UK, figures showed that the UK economy had actually stalled in the 2nd quarter, meaning trade-weighted £ sterling was now at its lowest in nearly 12 years.

On to the miners, where the price of the shiny stuff, namely gold, was falling back again. The miners have had such a good year, it seems expected that they will tail off for a period of correction, returning to some sort off reality.  Although, let’s not forget that the commodities will always be in demand.  ENRC closed down over 2.5% today, with peers also faalling.  Xstrata also had a bad day, and Anglo closed down too.  Two that ignored the rest were the duo who will end up as one - BHP and Rio, who both turned round their negative start to the day by closing up after dismissing news that their planned merger deal, worth some £128 bln, could face problems with the regulators.

It seemed that despite the price of the black stuff falling back from its spike this week, the oil heavyweights were in demand.  Bp, RD Shell, and BG Group had a good day, whilst smaller but still heeavy Tullow Oil & Cairn Energy closed down a little.

Imperial Energy, the Russia targeted oil explorer, closd up nearly 3% after press news that India’s Oil and Natural Gas Corp will be taking over with a deal worth some £2.8 bln.

Carrying on from this morning, advertising group WPP closed up some 3.5% after announcing H1 like-for-like sales growth and that it will up its divvy by 20%, all unexpected.

Rentokil Initial didn’t have such a good day, though, after announcing a 55% drop in H1 pre-tax profit, adding that it sees this trend continuing, at least for the rest of the year. Rentokil closed down 4.5p at 69.3p, off 6%.

Back to financials, where UK insurance broker Benfield announced news that US insurance broking giant AON Corporation had made a recommended cash offer for Benfield, who share price promptly jumped 74.5p to 345.5p, up 27.5%.

The FTSE 100 was up 22 points this morning at 5,392, with the energy stocks helping the index, as have the banks, which seem to look on or near the floor again.

The banks were up on some bottom feeding, with RBS, Barclays, HSBC, Lloyds TSB, HBOS, and Standard Chartered all up this morning. Peer Bradford & Bingley was up 2% after informing the market that other banks had entered a lock-in agreement saying they will not dispose of the 426.7m new shares issued for 20 days.

On to oil, where it rose above US$$121 bbl in Far East trading, mainly due to the tension between USA & Russia, although this helped the related stocks. Oil is up about 6% this week, just as we all thought it was returning to some sort of support level.

Gold was also up this morning, sitting at about US$832.75 ounce.

In the Far East today the Nikkei 225 closed down to its lowest level in 5 months.

On to the miners, where BHP Billiton and Rio Tinto didn’t have a positive start,m but peers did look in favour. ENRC was up, as was Xstrata, Anglo American, Antofagasta, and Lonmin.

Oil was up at US$121 bbl, helping the heavyweights this morning. BP, RD Shell, BG Group, Tullow Oil and Cairn Energy all up early doors, with investors seeing commodities and energy as safe.

Imperial Energy was up nearly 2% this morning after newspaper reports that it looks like something permanent could come with India’s Oil and Natural Gas Corp. The deal would value the Russian focused Imperial Energy at US$2.68 bln.

On to advertising, which has been under pressure of late.  WPP group was down this morning even though H1 sales growth was up and said they’d be upping the divvy by 20%.

Rentokil Initial had a poor start, down 6% this morning after announcing a 55% drop in H1 pre-tax profit, adding that this looks like to continue for at least this year.

Travel by bus - Arriva, on the other hand, jumped over 5% after reporting a 40% rise in pre-tax profit.  This included the new revenue from its CrossCountry rail franchise.

The FTSE was about even today.  Well, it closed down 1.6 points at 5,370.2, mainly due to the miners, who had a good day on the strength of the metal prices, and the oil stocks, which also had a good day, with the price of the black stuff having another flurry, up at US$121 bbl.

The price of gold also did well.

Tullow Oil was at the top of the board, though, up almost 8% on speculation of possible bid criteria, and that next week’s figures would be better than originally expected. Peer Cairn Energy also had a very good day.

As mentioned above, the miners did very well today. ENRC announced a 160% rise in H1 earnings, helping the shares leap some 3.4%, saying higher metal prices and better production assisting the rise.  Peers also did well, with Kazakhmys and Anglo American both standing out.

The banks didn’t have such a good day, though, with RBS, Barclays, HSBC, Staandard Chartered, HBOS, and Lloyds TSB all falling today, with the worries over the two mortgage giant problems in the US being the talk.

On to the High Street, where news that July’s retail sales were actually up being aa surprise, but many blaming poor weather meaning people just had to get out! And this despite prices rising so fast. None of this helped the bigger store chains, with Marks & Sparks carrying on from this morning, closing down over 2% on the dy, with othyers such as Next and supermarket chain J Sainsburys also having a bad day.  Sainsburys still reeling over the broker downgrade yesterday.

Associated British Foods was hindered by a Citigroup reminder of its ’sell’ stance, with the share price closing down over 2% on the day.

On to the housebuilders, where Persimmons closed up nearly 10% on the day as investors saw the results as better than originally feared and considered this one oversold, despite the company announcing a 64% drop in H1 pre-tax profit.  The company also cut the divvy from 18.5p to 5p, which was expected. Peer Barratts also had a good day, as did Taylor Wimpey.

The FTSE was down 50 points this morning at 5,321, with the US wwoes being blamed for the negative sentiment in London.

Over the pond it was the mortgage giants’ problems that were on everyone’s minds. With the more and more distinct possibility that the US government will have to move in to bail the duo out, concerns mounted. UK press reports that the [up 'til now] well respected Lehman Brothers investment bank had been in talks with a Chinese investment & securities giant togteher with a large Korean finance house also helped the sentiment fall further down, especially when it was said that both Asian parties had turned their noses up to any deal and the fundaments were nowheer near the value placed on any possible deal. Goodwill can only go so far on a balance sheet.

Back here in London, it was the banks under pressure again, with all the majors, including RBS, Barclays, HSBC, Standard Chartered and HBOS all down heavily this morning.

On to the miners, where the FTSE can thank them for preventing another too sour day, as higher commodity prices lifted the heavyweights. ENRC announced a 160% rise in H1 EPS, citing the higher metal prices and better output as the assistants, helping a nigh-on 4% rise this morning. Its bigger peers also had a good start, with BHP, Rio, Anto, Xstrata and Anglo American all up early doors.

On to oil, where Russian explorer Imperial Energy had a better monring, up healthily after news that India’s government has approved India’s state-run Oil and Natural Gas Corp’s US$3 bln offer to buy Imperial.

On to the High Street, where Marks & Sparks was down again, with investors concerned on sales performances.  peers were also down, with Next and B&Q owner Kingfisher both down heavily early doors.  Supermarket chain J Sainsbury also continued its fall after the broker downgrade yesterday, off another 2% on yesterday’s close price.

Insurance group Old Mutual fell heavily after news that Fortis will offload the 49% owned by ABN AMRO in the Chinese Asset Management JV, Teda Fund Management, for €165m to Old Mutual. Investors didn’t think this was in best interests.

On to the housebuilders, where recently demoted Persimmon announced some fairly respectable H1 figures that were better than expected, with a 64% drop in H1 pre-tax profit, but will pay a 5p per share divvy, down from 18.5p last year.
 

The FTSE 100 closed up 51.4 points today at 5,371.8, which made a change from the last 3 days.  The miners and oil majors helped today, although any joy was not with confidence, as recession and inflation worries are always present. This can also be seen with the thin volumes. Many are still on holiday of course, as well. The FTSE 250 closed up 29.7 points at 8,897.3.

 Over the pond, by the time London closed the DJI was up about 48 points at 11,396, whilst the S&P 500 was up 5 points at 1,271, and the Nasdaq up 10 points at 2,395.

Back here in London, it was the miners and oil majors helped today, although any joy was not with confidence, as recession and inflation worries are always present. This can also be seen with the thin volumes. Many are still on holiday of course, as well.

The miners boosted the FTSE today as commodities were on the up, with Chinese growth appearing to be immune to the rest of the world’s plight. China needs metals, and with recent deals done by a couple of the majors with China on pricing, it was the miners that benefited today.  One almost think any excuse for a loittle bit of positive news is what everyone is grabbing. BHP and Rio had good days, as did ENSR, Xstrata, and Anglo American.

On to oil, where the price of a barrel fell back a little, but the oid stocks were still stronger.  BG Group having the best day, with RD Shell and BP also doing well, as did tullow Oil, where a UBS upgrade to ‘buy’ from ‘neutral’ saw the explorer up nearly 7% on the day.

On to interest rates here in the UK, where 7 from 9 of the Bank of England committee  voted to keep at 5%.  No surprise there, then.

On to the banks, where it was a mixed day. Barclays and RBS had a poor day, both closing down on the session, although Barclays did go ex-div, whilst HSBC, Standard Chartered, Lloyds TSB and HBOS had a much better day, closing to the good.

There were a few unrelated stocks who went ex-div too, today, with Thomson Reuters closing down, as did FT owner Pearson, cruise ship operator Carnival, finance house Schroders, and Scottish & Southern Energy all roughly seeing the yield taken out of the price.

On to the High Street, well supermarket, where J Sainsbury received a JP Morgan downgrade to ‘neutral’ from ‘overweight’, closing down nearly 4% on the day as Morgan do slipped 3.7 percent after JPMorgan said it was the weakest of the 4 major chains.

Michael Page was in the news again, closing up over 30p at just shy of 361p after the Chief Executive saidd that Adecco, the Swiss peer, could be making a bit aat at least 6-quid a share for the recruitment group.

Carrying on from this morning, BAE Systems had a poor day after newspaper reports said that the defence ministry had agreed a £2 bln contract to secure the future of BAE Systems owned Royal Ordnance.