Glencore Xstrata reports merger synergies better than expected
20th Aug 2013 07:09
Maiden first-half results from newly-formed Glencore Xstrata showed encouraging progress in integrating the two businesses with cost savings much higher than expected. A statutory goodwill impairment of $7.6bn was made after the merger due to negative mining industry sentiment and the heightened ri
Read moreLondon close: Tapering concerns continue to hit stocks
19th Aug 2013 16:27
Concerns about the future of US stimulus continued to weigh on stocks on Monday with London's mining sector bearing the brunt of a reduction in risk appetite amongst investors. Market sentiment has been fragile in recent weeks due to heightened speculation that the Federal Reserve will taper its qu
Read moreTuesday preview: Glencore Xstrata reports half-way figures
19th Aug 2013 16:00
Glencore Xstrata is expected to announce that it will write down the value of assets inherited from Xstrata by as much as 7.0bn dollars on Tuesday when it reports results. The miner will unveil its first set of results since Glencore's take-over of Xstrata in May. Glencore's management has been r
Read moreFTSE 100 movers: M&S, Petrofac, easyJet
19th Aug 2013 13:58
Marks & Spencer topped the FTSE as the retailer launched its Britain's Leading Ladies campaign to promote its new autumn/winter fashion collection. The advertisement features stars including Helen Mirren, Tracey Emin and Ellie Goulding. Petrofac, which provides facilities services to the oil, gas
Read moreLondon midday: Miners lead markets lower, Fed in focus
19th Aug 2013 12:09
The FTSE 100 was trading slightly lower on Monday morning with heavyweight mining stocks providing a drag as investors scaled back their appetite for risk. Markets were rangebound today with less than 30 points separating the FTSE 100's intraday low (6,477) and high (6,506). This follows the index'
Read moreGlencore to write down value of Xstrata assets
19th Aug 2013 09:29
Glencore Xstrata's shares declined following reports the miner may write down the value of assets inherited from Xstrata by as much as 7.0bn dollars when it reports its half-year earnings this week. The company will on Tuesday unveil its first set of results since Glencore's takeover of Xstrata in
Read moreLondon open: Markets lower, but Kentz rockets after AMEC approach
19th Aug 2013 08:27
The FTSE 100 opened slightly lower on Monday morning as traders continue to speculate about the future of the Federal Reserve's quantitative easing programme. The weak start follows the London benchmark's second weekly decline in a row last week and the worst weekly performance on New York's Dow Jo
Read moreLondon close: Markets edge higher after subdued session
16th Aug 2013 16:30
Friday was a relatively quiet session for equity markets in London with investor confidence shattered after a sell-off the day before and volumes down due to seasonal trends. The FTSE 100 and benchmark indices on Wall Street suffered steep falls on Thursday as better-than-expected jobless claims ig
Read moreSector movers: Mining, housing stocks making gains
16th Aug 2013 14:56
Gold and silver prices cemented recent gains on Friday due to safe-haven demand, pushing shares prices in the mining sector higher in afternoon trade. Precious metals peers Randgold Resources and Fresnillo were standout performers as gold edged closer to a two-month high while silver stayed close
Read moreFTSE 100 movers: Randgold, Fresnillo lead miners higher
16th Aug 2013 14:28
Gold and silver prices cemented recent gains on Friday due to safe-haven demand, pushing shares prices in the mining sector higher in afternoon trade. Precious metals peers Randgold Resources and Fresnillo were standout performers as gold edged closer to a two-month high while silver stayed flat at
Read moreLondon midday: Markets searching for direction after sell-off
16th Aug 2013 12:01
The FTSE 100 was broadly flat on Friday morning, swinging between gains and losses as equity markets searched for direction following a steep sell-off the day before in the UK and US. The London benchmark lost 1.6% on Thursday after better-than-expected jobless claims data in the States ignited con
Read moreLondon open: Markets rangebound after steep sell-off
16th Aug 2013 08:42
The FTSE 100 opened broadly flat on Friday morning with markets rangebound as sentiment still remained fragile following the steep sell-off the day before. The London benchmark lost 1.6% on Thursday after better-than-expected jobless claims data in the States ignited concerns that the Federal Reser
Read moreLondon close: Stocks sold off on concerns over QE taper, Egypt
15th Aug 2013 16:34
Markets largely shrugged off a strong set of UK retail sales figures today, instead choosing to focus on economic data from the States which continues to throw more weight behind the argument to taper quantitative easing. The ongoing violence in Egypt also continues to be a worry for markets after
Read moreLondon midday: Markets underwhelmed by strong UK retail sales
15th Aug 2013 11:54
Better-than-expected UK retail sales failed to give markets a boost on Thursday morning with the FTSE 100 falling heavily as investors remained cautious ahead of a barrage of US economic data due out later on. UK retail sales volumes climbed 1.1% on the month to an all-time high in July as the heat
Read moreBroker tips: Copper miners, Aviva, Cineworld
15th Aug 2013 11:04
JPMorgan Cazenove has named diversified miner Glencore Xstrata its top pick amongst copper producers, while downgrading its rating for Antofagasta. Glencore Xstrata, which derives 35-40% of its EBITDA/NPV from copper, "stands out in our view", JPMorgan said, reiterating its 'overweight' rating and
Read more