Wednesday tips round-up: Amec, Standard Life, Anglo American...
8th Dec 2010 07:02
Amec, once a workaday building contractor, has spent the past decade retooling itself as a consulting engineer and project manager. About 45% of the workload now comes from oil and gas, mining and nuclear. Amec shares do not come cheap on 17 times 2011 earnings, although this falls to less than 14
Read moreFirst Anglo American zinc disposal goes through
6th Dec 2010 07:51
The sale of Anglo American's Skoprpion zinc mine to fellow mining firm Vedanta Resources has finally gone through. The sale is part of the purchase by Vedanta of Anglo American's zinc portfolio, first announced on 10 May. Anglo American will receive $707m in cash from Vedanta for the Skorpion mine
Read moreLondon close: Lower finish as Irish relief fades
22nd Nov 2010 16:51
Footsie was nursing significant losses as trading closed after relief over the Irish bail-out gave way to concerns that the problems will now spread to other eurozone countries. Royal Bank of Scotland, which has strong exposure to Ireland on both sides of the border through its subsidiary Ulster B
Read moreLondon midday: Footsie gives up gains
22nd Nov 2010 12:06
Footsie has turned lower as the relief over the EU bail-out of Ireland fades. Miners got a boost on hopes the bail-out will stabilise the global economy but are now mixed. Xstrata is slightly higher but BHP Billiton and Rio Tinto are among the fallers. It's a slow start to the week on the compa
Read moreLondon open: Ireland gives market a lift
22nd Nov 2010 08:42
Markets opened strongly on hopes that Ireland's decision to accept a bail-out will mean some stability for the battered eurozone. Miners are leading the market higher with banks also in demand. Xstrata, Kazakhmys and Vedanta are the best of the metals-focused firms, while Lloyds and Barclays have p
Read moreLondon pre-open: Relief over Ireland rescue
22nd Nov 2010 07:37
Ireland's decision to accept a bailout worth up to €100bn is set to relieve markets Monday following weeks of speculation and concern about the former 'tiger' economy. The FTSE 100 could add around 50 points in early deals, according to futures prices. It's a slow start to the week on the company
Read moreAnglo American to sell Callide coal mine
22nd Nov 2010 07:04
Mining heavyweight Anglo American has puts its Callide thermal coal mine up for sale. The mine in Central Queensland, a low cost coal producer, will go as part of Anglo's focus on growing its metallurgical coal and high margin export thermal coal businesses. It mostly supplies domestic power stati
Read moreLondon afternoon: Gloomy miners
16th Nov 2010 14:10
Footsie retreated further over the lunch time session with mining stocks largely responsible for the decline, as metal prices pull back on fears that China will act to cool down its economy in the interests of reining in inflation. Antofagasta, Kazakhymys, Fresnillo, Xstrata and Rio Tinto are t
Read moreLondon midday: Battering for blue chips
16th Nov 2010 12:16
Footsie is deep in the mire after the late swoon on Wall Street last night and concerns over the health of the entire eurozone. Miners have tanked with metals prices, while banks are still edgy over the sovereign debt situation in Ireland. Kazakhymys, Fresnillo, Xstrata, Anglo American and Antofa
Read moreAnglo American sells grinding media assets
15th Nov 2010 07:45
Mining giant Anglo American is to raise $932m through the sale of Moly-Cop and AltaSteel. Australian steel manufacturer OneSteel is acquiring the businesses on a debt and cash free basis. Moly-Cop and AltaSteel were the grinding media and steel products businesses of Anglo American located in Nort
Read moreMonday newspaper round-up: BHP Billiton, Ireland, eBay...
15th Nov 2010 06:23
BHP Billiton has abandoned its $39bn bid for Canadian fertilizer company Potash and agreed to return $4.2bn to shareholders through a previously suspended buyback programme. Announcing its decision to drop the takeover bid, Australian-based BHP had said that the concessions demanded by the Canadian
Read moreLondon midday: Footsie flat after recovery
12th Nov 2010 12:13
Shares are looking for direction now after staging an impressive recovery from this morning's losses. Aero-engine maker Rolls-Royce is going well despite warning solving the problems on its Trent 900 engine will mean it making less money than expected in 2010. Centrica is also higher after the Br
Read moreLondon open: Blue chips take a tumble
12th Nov 2010 08:48
London has opened sharply lower, with sentiment not helped by a mild profit warning from Rolls-Royce and a bad-tempered G20 meeting. Aero-engine maker Rolls-Royce is one of the few risers in fact, despite warning solving the problems on its Trent 900 engine will mean it making less money than expec
Read moreFTSE 100 movers: Profit-taking in miners
10th Nov 2010 13:59
Miners are on the slide and dragging down Footsie. Gold and silver reached new highs yesterday and eight of the worst ten performers are miners as investors take profits. Kazakhmys and Randgold are the biggest fallers but Anglo American is bucking the trend. Tullow Oil's interim management state
Read moreFTSE 100 movers: Strong growth for Inmarsat
8th Nov 2010 14:30
Satellite operator Inmarsat achieved strong growth in its aeronautical and leasing services in the third quarter. Total revenue in the three months ended 30 September rose 19% to $308.8m from $260m the year before. Pay TV and internet service provider BSkyB has reached its target of 10m TV custome
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