FTSE 100 movers: Political issues in South Africa hit Old Mutual again
11th Dec 2015 14:25
(ShareCast News) - The FTSE 100 has failed to regain any traction on the week, with the blue chip market down 21.60 points (2.00%) to 5,966.45 by mid-afternoon Friday. Old Mutual again led the fallers, still reeling from political issues in South Africa. It's the second day of major falls for the co
Read moreFTSE 100 movers: Old Mutual hit by rand and rating downgrade, Debt plan drives Glencore up
10th Dec 2015 14:07
(ShareCast News) - The FTSE 100 remained in negative territory on Thursday, sitting down 34.53 points (0.56%) on 6,092.15 by mid-afternoon. Old Mutual, which generates a large chunk of its profits from South Africa, sank as a broker downgrade and weaker rand weighed on the stock. The rand fell near
Read moreLondon midday: Equities slide as BoE keeps interest rates unchanged
10th Dec 2015 11:09
(ShareCast News) - UK equities declined as the Bank of England voted 8-1 to keep interest rates unchanged. The BoE left interest rates at 0.5% and the asset purchase programme at £375bn, as expected by analysts, amid a slowdown in emerging economies, low inflation and a strong pound. The minutes of
Read moreGlencore may float agriculture business, in talks about asset sales
10th Dec 2015 09:16
(ShareCast News) - Glencore has revealed it is examining a potential initial public offer (IPO) of the commodity group's agriculture business and has been in talks about the potential sale of some infrastructure assets. The FTSE 100 group's chief financial officer Steven Kalmin revealed on an invest
Read moreGlencore increases debt reduction targets
10th Dec 2015 06:58
(ShareCast News) - Glencore has increased its planned target of reducing debt and preserving capital to the tune of $13bn (£8.6bn). It follows the FTSE 100 mining company's debt reduction initiatives announced in September, which included a target of $10.2bn. In a trading update issued Thursday, it
Read moreGlencore set to outperform, Macquarie says
7th Dec 2015 09:45
(ShareCast News) - Management at Glencore would not waste the chance to reassure investors about its ability to safeguard its credit metrics at its next investor update, analysts at Macquarie said. "More than any miner" the commodities trader had the capacity to surprise, so the Australian broker re
Read moreGlencore to axe majority of jobs at Australian mine
7th Dec 2015 08:28
(ShareCast News) - Glencore has announced it will cut 180 jobs at its Collinsville mine in north Queensland, Australia, ABC News reported on Monday. The company said in a statement that cuts at the mine, which employs 230 people, are a result of falling coal prices and market oversupply, leading to
Read moreBroker tips: Debenhams, Greene King, Glencore
3rd Dec 2015 12:11
(ShareCast News) - Debenhams shares were under pressure on Thursday after Goldman Sachs downgraded the stock to 'sell' from 'neutral', pointing to slowing space growth. "As one of the UK general retailers wrestling with the online channel shift dynamic, and in recent times suffering from store-based
Read moreRBC starts Glencore at neutral
3rd Dec 2015 12:07
(ShareCast News) - RBC saw possible short-term catalysts for Glencore, but added that the outlook was 'mixed'. The shares should rally further as the commodities trader unveiled further asset sales and operational improvements, with a 10 December update serving as one potential catalyst, Tyler Broda
Read moreFTSE 100 movers: Glencore's reported Libya deal sends shares soaring
20th Nov 2015 14:18
(ShareCast News) - Despite a quiet day news-wise on the markets, the FTSE 100 was up marginally by mid-afternoon Friday to 6,345.49 - a 15.56 point rise (0.25%). Glencore surged on reports that it has agreed a deal to buy as much as half of the oil Libya currently exports as it looks to offset decli
Read moreGlencore reportedly signs oil deal with Libya
20th Nov 2015 12:04
(ShareCast News) - Glencore has reportedly agreed a deal to buy as much as half of the oil Libya currently exports as it looks to offset declining profits from mining. Reuters cited unnamed market sources as saying that as part of the agreement with Libya's state-run National Oil Corp (NOC), which b
Read moreBarclays cuts European mining sector to 'neutral' on cloudy outlook
10th Nov 2015 10:36
(ShareCast News) - Barclays downgraded its stance on the European mining sector to 'neutral' from 'positive', noting that 2015 has been another bad year. The bank pointed out that the last five years have marked the worst performance since 1966 and said it's hard to see what might pull the sector ou
Read moreFTSE 100 movers: Mining millstone reverses, IHG and IAG jump
6th Nov 2015 14:10
(ShareCast News) - The FTSE 100 spiked in mid afternoon on Friday, rebounding on the back of the US jobs report, before promptly being yanked back into negative territory by the millstone of depressed mining stocks. Falling metals and oil prices cast initial pressure on the natural resources sectors
Read moreFTSE 100 movers: Miners lead market on back of Chinese data
4th Nov 2015 14:11
(ShareCast News) - The FTSE 100 had a strong start to the day on Wednesday, up 48.94 points (0.77%) to 6,432.55 by mid-afternoon. Glencore was the biggest riser of the day after it reported "significant progress" on plans to cut net debt to the low $20bns by the end of 2016 and increased output from
Read moreGlencore optimistic on cutting debt as quarterly production rises
4th Nov 2015 07:08
(ShareCast News) - Commodities giant Glencore reported "significant progress" on plans to cut net debt to the low $20bns by the end of 2016 and increased output from its mines generally in line with estimates. Net debt is now expected be roughly $25bn by year end, the FTSE 100 company said, helped b
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