Sector movers: Real estate, Oil&Gas pace gains, mining down
19th Jul 2016 10:54
(ShareCast News) - Real estate investment trusts led to the upside despite the International Monetary Fund and European Commission's decision on Tuesday to take a knife - as might have been expected - to their forecasts for the British economy next year. In the case of the Washington-based
Read moreBHP Billiton says Samarco unlikely to reopen this year
14th Jul 2016 09:24
(ShareCast News) - BHP Billiton said on Thursday that its Samarco joint venture iron ore operations in Brazil are unlikely to restart this year, adding that it has begun discussions with a view to cutting the workforce by around 40%. The company said Samarco was unlikely to have in place the necessa
Read moreFTSE 100 movers: Antofagasta leads miners' rise and Barratt the builders' fall
13th Jul 2016 13:36
(ShareCast News) - The FTSE 100 index was scuttling crabwise on Wednesday, as markets held their powder dry as Britain appointed a new Prime Minister later in the day and a day ahead of the Bank of England expected policy tinkering. Commodities heavyweights Antofagasta, Glencore, BHP Billiton and
Read moreLondon midday: Miners pace gains on stimulus hopes, upbeat US jobs data
11th Jul 2016 12:10
(ShareCast News) - London stocks were continuing to push higher come midday, carried by positive sentiment from Asia and the US, with domestic thoughts turning to the Bank of England monetary policy meeting scheduled for later in the week. Asian stocks finished the session with strong gains, as some
Read moreRio Tinto sells coal mine for A$1 as industry struggles
4th Jul 2016 15:08
(ShareCast News) - Mining giant Rio Tinto sold its interest in a coal mine in Australia for A$1 as the commodity market continues to struggle. The mine was sold for less than the price of a cup of coffee, the Financial Times reported on Monday. Rio Tinto's new chief executive said he wants to grow
Read moreLondon open: Equities slightly higher on stimulus hopes
1st Jul 2016 08:17
(ShareCast News) - London stocks opened higher on Friday, underpinned by expectations of fresh stimulus from the Bank of England and possibly from the European Central Bank. The FTSE 100 was trading almost flat at 6,505.65, up by just 0.02%, despite a backdrop of positive trading overnight on Wall S
Read moreBHP Billiton Samarco settlement suspended by Brazil court
1st Jul 2016 07:03
(ShareCast News) - BHP Billiton's plans to settle claims over the 2015 Samarco mine disaster suffered a blow on Friday when a Brazilian court reinstated a AUD$8bn public civil claim. BHP and joint-venture partner Vale agreed a $3bn settlement in March, however Brazil's Superior Court issued an inter
Read moreCredit Suisse restarts Glencore at outperform, raises target on Anglo American
30th Jun 2016 15:22
(ShareCast News) - Credit Suisse gave the mining sector a boost on Thursday as the broker raised its projections for the average price of some key base base and precious metals, while re-jigging its target prices on a large swathe of the mining space in the process. The outlook continued to be cloud
Read moreBHP Billiton to spend $900m on exploration next year
27th Jun 2016 08:36
(ShareCast News) - BHP Billiton said on Monday that it plans to spend around $900, or 18% of its overall capital budget on exploration next financial year. Speaking at Citigroup's Mining Exploration Day in Sydney, the company's head of geoscience, Laura Tyler, said BHP's petroleum exploration progra
Read moreMacquarie somewhat surprised by organisational reshuffle at Rio Tinto
22nd Jun 2016 12:10
(ShareCast News) - The decision of Andrew Harding, Rio Tinto's ex-Iron Ore chief to depart the company was not unexpected, but the organisational reshuffle of the company's organisational structure was "somewhat of a surprise", analysts at Macquarie said. Harding had been seen as a "strong" candidat
Read moreLondon close: Market fixated on looming referendum
21st Jun 2016 16:56
(ShareCast News) - Stocks ended higher for a second day, with banks and insurers clocking in with the biggest gains as traders waited for Thursday's referendum. The Footsie finished the day up by 0.73% or 45.24 points to 6,249.24. The pound on the other hand was knocked lower from its intra-day hig
Read moreLondon midday: Banks pace gains following latest Brexit polls
21st Jun 2016 12:11
(ShareCast News) - UK shares recovered after a modest dip at the start of the session, with banks again clocking in with the biggest gains as traders digested another flurry of poll results suggesting Thursday's vote will not result in Brexit. As of 12:00 BST the FTSE 100 was trading higher by 0.03%
Read moreRio Tinto seals $3bn debt reduction
21st Jun 2016 09:47
(ShareCast News) - Rio Tinto has arranged a further $3bn reduction in its gross debts after agreeing further purchases of its bonds in New York. The mining group's has agreed to buy back $1.252 billion of debt under a 'maximum tender offer', which began on 7 June. This comes on top of the $1.748bn
Read moreLondon open: Stocks edge lower ahead of Yellen speech
21st Jun 2016 08:14
(ShareCast News) - London stocks began the session trading slightly lower following a surge on the previous day, ahead of a key speech from US central bank chair Janet Yellen scheduled for later in the session, with the pound trading at its early May highs. As of 08:10 BST the FTSE 100 was trading l
Read moreBHP targets further $600m in cost cuts from coal ops
21st Jun 2016 07:19
(ShareCast News) - BHP Billiton said it was targeting another $600m in coal production costs by the end of the 2017 financial year. BHP also increased its forecast for coal output for the current year to 43m tonnes, with plans to lift production to 46m tonnes in 2018. "While cost compression has be
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