London Financial report

Now for a look at this week's financial news in London. In London this week, the UK's FTSE 100 fell by almost 0.4% reaching fifty-three, sixty-five at market close on Thursday. Barclays shares were down on Thursday due to a decline in investment banking revenue, even though the group reported first-half profits rising by 29 percent. Mining giant Rio Tinto shares were up on Thursday after the group reported a rise in earnings of 125 percent in the first half of the year. Rio Tinto said it has already approved three billion US dollars for investment and capital expenditure on facility expansion and other projects, which is expected to rise to six billion dollars in the full year. Another mining company, Randgold Resources, shares' were down 5.6% on the FTSE 100 closing at fifty-three, ninety-three on Thursday despite the reported rise in half-year profit. Recent increases in mining profits have been helped by higher gold prices.

View Count: 0 Date: August 6, 2010

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