FTSE 100 movers: Oil prices sink blue chip market
15th Jan 2016 14:29
(ShareCast News) - The FTSE 250 is set to end the week on a sour note, with the blue chip market sitting down 119.49 points (2.02%) at 5,798.74 by mid-afternoon Friday. Falling oil prices affected most of the market's biggest fallers, as oil stayed below $30 a barrel. That hit the mining sector, esp
Read moreBHP Billiton takes $7.2bn writedown on US oil assets
15th Jan 2016 07:26
(ShareCast News) - Mining giant BHP Billiton expects to book a $7.2bn (£5m) impairment charge on the value of its onshore US assets in its half-year results due to the steep drop in oil prices. The writedown, which will cut the company's onshore US net operating assets to around $16bn, is the second
Read moreFriday newspaper round-up: BHP Billiton, Massive immigration, State pensions
15th Jan 2016 06:59
(ShareCast News) - BHP Billiton has announced a multi-billion-dollar writedown of its US assets as the commodities giant struggles with plummeting prices. The company could be forced to halve its dividend to weather the storm in the commodities sector, blamed "significant volatility and much weaker
Read moreCiti upgrades BHP Billiton and offers dividend and capex cutting advice
14th Jan 2016 16:38
(ShareCast News) - Citi has upgraded BHP Billiton shares to 'buy' after the price more than halved last year, but called for the miner's to cut its dividend and capital expenditure. The US bank set a price target of £7.50 BHP, down from a previous £8.50, with the rating upgraded from 'neutral'. Wit
Read moreFTSE 100 movers: Jakarta bombs force IHG to fall
14th Jan 2016 14:18
(ShareCast News) - After a mostly positive week, the FTSE 100 was down 100.16 points (1.68%) to 5,860.81 by mid-afternoon Thursday. InterContinental Hotels Group led the fallers, with TUI AG also featuring in the bottom 10 after a series of bomb blasts rocked Jakarta. A Canadian and an Indonesian w
Read moreCitigroup upgrades BHP Billiton but says capex and dividend cuts needed
14th Jan 2016 10:58
(ShareCast News) - Citigroup upgraded BHP Billiton to 'buy' from 'neutral' following the steep fall in the share price and despite downgrades to iron ore and gas prices. The bank said there are still risks, from the fallout of the Samarco dam burst and volatile commodity prices, "but board/managemen
Read moreMiners might put in a better showing as the year progresses, Citi says
13th Jan 2016 09:07
(ShareCast News) - Shares of miners may perform better as the year progresses driven mainly by improvements in their balance sheets and cash flows, whereas markets appeared to be most worried at present with their spot earnings, Citi said on Wednesday. A regression analysis carried out by the analys
Read moreBroker tips: Centrica, BHP Billiton, Premier Oil
12th Jan 2016 12:22
(ShareCast News) - Exane BNP Paribas upgraded Centrica to 'outperform' from 'neutral', maintaining a 250p price target, saying the stock has had a tough couple of years but this is now all in the price. It noted the shares fell 20% in 2015 following a 20% drop the previous year. The group is expose
Read moreHSBC downgrades BHP Billiton to 'reduce'
12th Jan 2016 10:23
(ShareCast News) - HSBC downgraded BHP Billiton to 'reduce' from 'hold' and cut the price target to 590p from 1,100p saying the company faces further headwinds from oil and iron ore. The bank said it assumes a 50% dividend cut and eliminates most non-essential capex, which leaves BHP around $2bn cas
Read moreBHP Billiton says waste from dam burst less than initially thought
8th Jan 2016 08:11
(ShareCast News) - BHP Billiton said on Friday that the amount of mining waste spilled as a result of the dam burst at its Samarco joint venture iron ore mine in Brazil last November was a lot less than previously thought. Samarco estimated that the volume of tailings material released during the da
Read moreFTSE 100 movers: Miners and oil stocks drag down market over China woes
7th Jan 2016 13:56
(ShareCast News) - The FTSE 100 continued to fall on Thursday, down 156.34 points (2.57%) to 5,917.04 by mid-afternoon. Miners again dragged the market down amid growing concerns about China, one of the world's largest commodities consumers, after the country had its shortest trading day in history.
Read moreThursday newspaper share tips: Falling oil prices threaten BHP Billiton's strategy
7th Jan 2016 10:49
(ShareCast News) - Falling oil prices are threatening BHP Billiton's strategy to diversify into oil and gas, The Telegraph's Questor wrote on Thursday. Oil prices have been plummeting amid geopolitical flare-ups in the Middle East and oversupply concerns continuing to dominate market sentiment. Que
Read moreFTSE 100 movers: Miners drive down blue chip market
6th Jan 2016 14:59
(ShareCast News) - The FTSE 100 had dropped 86.42 points (1.41%) by mid-afternoon Wednesday, down to 6,050.82 points. Miners were again on the list of risers and fallers for a second day in a row, but this time on the negative side. Anglo American, BHP Billiton, Rio Tinto, Glencore and Antofagasta a
Read moreLondon close: Stocks end lower on slump in commodities
30th Dec 2015 16:19
(ShareCast News) - UK stocks slumped on Wednesday as shares in mining and oil producers declined. Oil prices reversed the previous day's gains on concerns about a supply glut after a report showed an unexpected rise in US crude inventories. The Energy Information Administration said US crude invent
Read moreSector movers: Oil producers and mining stocks under pressure
30th Dec 2015 16:00
(ShareCast News) - Commodity producers were under the cosh on Wednesday as oil and metal prices slipped. Oil prices reversed Tuesday's gains with Brent crude down 2.9% to $36.70 per barrel and West Texas Intermediate down 3.07% to $36.74 per barrel. The decline came after the Energy Information Adm
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