London’s top-flight index sunk deeper into the red as it came under pressure from sliding commodity stocks and a slump from the supermarkets.

London’s top-flight index was dragged into the red yesterday as a lacklustre performance from commodity stocks weighed heavy on the market.

An EU court has ordered the Government to recover over €10m in illegal state aid from Co Limerick-based metals refinery Aughinish Alumina.

European stocks posted their biggest two-day gain since October 2011 on increased investor confidence that central banks will act to support markets.

London’s Ftse 100 collapsed below the 6000 mark yesterday as volatility hit markets across Europe again after a concerted sell-off among miners.

Sinking aluminium prices and a ballooning surplus of the metal have deepened the industry’s worst crisis in years, intensifying pressure on high-cost smelters to embark on another round of production cuts to revive prices from their malaise.

The world’s largest brewer wanted to keep the biggest deal of the year under wraps. Market chatter and the UK’s unique takeover rules got in the way.

Mining and commodities trading firm Glencore yesterday said it would suspend dividends, sell assets, and raise $2.5bn (€2.24bn) in a new share issue to cut its debt by a third to $20bn by the end of next year.

The Ftse 100 slumped to its lowest level in almost three years yesterday, with all individual stocks in the red and miners leading the slide on growing fears of a China-led global economic slowdown.

Britain’s top equity index edged lower yesterday, with a decline for commodities stocks such as BP and Royal Dutch Shell overshadowing gains in travel group TUI.

The London market ended lower yesterday with traders concerned that Greece’s debt talks will see it default next week unless a deal is agreed.

The London market ended the session by posting four straight weeks of losses, despite edging up yesterday.

London’s Ftse 100 index was 2% higher yesterday after the unexpected Conservative election victory added over £40bn to market prices.

The pound rose sharply yesterday after new forecasts from the Bank of England appeared to bring forward the likely timing of an interest rate hike.

The FTSE 100 Index climbed higher yesterday thanks to a revival in supermarket stocks as official figures showing inflation at a 14-year low also boosted sentiment.

Rusal Aughinish on the Shannon Estuary, the largest alumina refinery in Europe, returned to profit last year to record pre-tax profits of $15.59m (€12.15m).

Improved sentiment on Wall Street helped blue-chip shares shake off worries over Ukraine and wipe out early session losses.

The London market started the fourth quarter strongly today as positive economic data from the US and renewed optimism over Spain’s banks boosted investor confidence.

Multibillion-pound plans for the creation of a new natural resources powerhouse were revived today under a last-ditch deal.

Commodities trader Glencore today insisted its increased offer for Xstrata marked a “substantial premium” for the miner as it confirmed last-ditch revised proposals to salvage the €62bn deal.

Commodities giant Glencore remained at the bottom of London’s leading shares index today after it raised its offer for Xstrata to keep hopes of a £56bn mega-merger alive.

Increased optimism that central bankers will pull the trigger on further emergency support measures ensured a robust performance on the London market today.

Disappointment over US Federal Reserve chairman Ben Bernanke’s failure to offer clear signals of imminent economy boosting measures sent the FTSE 100 Index into the red today.

The London market lost ground today as investors eyed events in the eurozone at the start of another vital week in its battle for survival.

France’s long-standing farm co-operatives will need to scale up further and build effective infrastructure to avoid being marginalised as niche players while global commodity giants broaden their footprint on international grain markets.

World markets came under pressure today as gloomy comments from the head of the European Central Bank offset optimism surrounding emergency action taken to boost the UK and eurozone economies.

Shares in commodities giant Glencore fell nearly 4% today amid fears a mega-merger with Xstrata will collapse.

Fresh worries about the eurozone debt crisis and the UK economy meant London’s blue chip shares index struggled to make significant gains today.

Fresh worries about the strength of the economies in the UK and eurozone saw world markets suffer another torrid session today.

Further signs of recovery in the US failed to distract investors from gloomy manufacturing figures in China and the eurozone today as London’s leading shares index closed in the red.

China’s top two state oil firms have agreed to lift about 140,000 barrels of crude oil per day from Libya under term deals for 2012, set to raise China’s crude purchases from the North African exporter after supply disruptions last year.

A lack of progress in talks between Greece and its creditors unsettled investors today as London's leading shares index failed to build on last week's gains.

London’s leading shares index failed to gain significant ground today after a raft of blue-chip results overshadowed optimism in the US and merger talks in the mining sector.

ONE of the biggest landfill sites in Ireland is due to close in the next 12 months, with management planning to grow grass and plant trees on the 236-acre ‘red mud’ pond at the Aughinish Alumina plant.

THE future of the $1.2 billion (€873m) alumina refinery at Aughinish Alumina has been secured until 2030 at least, with the company commissioning a 195-acre development that has the capacity to hold over 17 million tonnes of bauxite residue or “red mud”.

BRITISH stocks climbed for the fifth day in six amid speculation the US Federal Reserve may announce more stimulus measures to help drive the world’s largest economy.

London’s leading index closed higher for a third day running as investors shrugged off fears of a slowdown in the euro region.

THE largest alumina refinery in Europe, RUSAL Aughinish, last year returned to profit after revenues almost doubled to $496.9 million (€344.9m).

The London market made nervous gains today as hopes that the US would announce more stimulus measures were countered by more weak economic data.

London’s blue chips recovered more ground as markets across Europe ended a volatile week on a rising note.