London close: US gloom offsets company cheer
29th Jul 2010 16:33
Footsie closed slightly in the red, despite starting well on the back of well-received company updates, as weakness in the US spread across the Atlantic. AstraZeneca closed sharply higher. The group's potential blockbuster heart drug Brilinta has received the backing of a US advisory panel just as
Read moreDe Beers Gets Offers For Two South African Mining Assets
29th Jul 2010 16:22
JOHANNESBURG (Dow Jones)--De Beers SA, the world's largest producer of uncut diamonds, said Thursday it has been approached by investors interested in acquiring two assets in South Africa. The approaches come on the back of the recovery in the diamond market, which was hard hit by a fall in dema
Read moreEARNINGS PREVIEW: Anglo American Operating Profit Seen +95%
29th Jul 2010 15:00
Anglo American (AAL.LN): 1H Earnings Due: July 30 at 0600 GMT Company Survey of 12 Analysts Average Operating Profit: $4.1B, up 95% ($2.1B in 1H 2009) Average Underlying EPS: $1.73, up 90% ($0.91 in 1H 2009) Note: a significant portion of Anglo American's earnings have already been reported via
Read moreLondon afternoon: Footsie off the top
29th Jul 2010 14:28
The Footsie drifted lower over the lunch time session though still remained in positive territory, thanks in large part to enthusiastic responses to results from heavy hitters AstraZeneca, BT and Reed Elsevier. AstraZeneca is sharply higher. The group's potential blockbuster heart drug Brilinta has
Read moreLondon midday: PartyGaming jumps on bwin merger
29th Jul 2010 11:57
Company results have given traders plenty to ponder and shares are broadly higher, but online betting group PartyGaming is the star performer after announcing a merger with Austrian rival bwin. PartyGaming said the merger would create the world's largest listed online gaming business. Elsewhere i
Read moreEARNINGS FORECAST TABLE: AngloAmerican 1H 2010
29th Jul 2010 11:32
FRANKFURT (Dow Jones)--The following is a summary of analysts' forecasts for Anglo American plc's (AAUK) half-year results, based on a poll of 5 analysts by Dow Jones Newswires (in million USD, EPS and dividend in USD, target price in pence, according to IFRS). Earnings figures are scheduled to be r
Read moreLondon open: Astra leads advance
29th Jul 2010 08:49
London's blue chips are cautiously higher in early dealings on Thursday as investors consider a bunch of corporate figures. AstraZeneca is the best performer in early dealings. The group's potential blockbuster heart drug Brilinta has received the backing of a US advisory panel just as the drug gia
Read moreChile boost for Xstrata and Anglo
29th Jul 2010 08:27
An "impressive uplift" in the mineral resource estimate at Collahuasi, Chile's third largest copper mine, is good news for Xstrata and Anglo American who each own a 44% stake in the business. Following new drill results, modeling changes and metal price assumption adjustments, the new Measured, Ind
Read moreXstrata: Increased Copper Mineral Resource At Collahusi
29th Jul 2010 07:29
LONDON (Dow Jones)--Compania Minera Dona Ines de Collahuasi SCM, in which Xstrata PLC (XTA.LN) has a 44% interest, Thursday announces a revised mineral resource estimate with significantly improved confidence levels and an increase to total mineral resources and ore reserves. MAIN FACTS: -Th
Read moreChile Collahuasi Copper Mine Sees 40% Increase In Resources
28th Jul 2010 21:32
By Erin McCarthy Of DOW JONES NEWSWIRES SANTIAGO (Dow Jones)--Chilean copper mine Dona Ines de Collahuasi has seen a 40% increase in the total amount of its mineral resource, in light of new drilling results, the company said Wednesday. It estimates that it has mineral resources of 7.09
Read moreCORRECT:EARNINGS PREVIEW: Miners See Strong 1H,Eyes On Growth
28th Jul 2010 11:28
("EARNINGS PREVIEW: Miners See Strong 1H, Eyes On Organic Growth," published at 0743 GMT, missstated the spelling of Xstrata in the 13th paragraph. The correct version follows.) By Alex MacDonald Of DOW JONES NEWSWIRES TAKING THE PULSE: UK-listed miners are expected to deliver higher ea
Read moreUPDATE: ArcelorMittal South Africa Scraps Steel Surcharge
28th Jul 2010 09:45
(Adds detail, background.) By Robb M. Stewart Of DOW JONES NEWSWIRES JOHANNESBURG (Dow Jones)--South Africa's largest steel producer, a unit of ArcelorMittal (MT), said Wednesday it has scrapped a surcharge on its products after agreeing a stopgap deal with its primary iron ore supplier
Read moreArcelorMittal South Africa Scraps Steel Surcharge
28th Jul 2010 09:01
By Robb M. Stewart Of DOW JONES NEWSWIRES JOHANNESBURG (Dow Jones)--South Africa's largest steel producer, a unit of ArcelorMittal (MT), said Wednesday it has scrapped a surcharge on its products after agreeing a stopgap deal with its primary iron ore supplier in a dispute it continues to co
Read moreAustralia's MRRT To Cost Coal Producers A$7.4B Over 5 Years -Woodmac
28th Jul 2010 03:20
SYDNEY (Dow Jones)--The Australian government's deal on a new mining tax will cost coal producers an extra A$7.4 billion over the first five years if coal prices remain at current levels, a new study showed Wednesday. Industry consultant Wood Mackenzie said the tax burden risks adding to long-te
Read moreMARKET TALK: Goldman Increases Anglo American Price Target
27th Jul 2010 10:45
0945 GMT [Dow Jones] Goldman Sachs increases Anglo American (AAL.LN) price target to 4480p from 4085p, reflecting the substantial increase in the brokerage's platinum group metal (PGM) price forecasts for FY '11-'14. Given this, Goldman's expectations for the earnings stream from Anglo Platinum in t
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