Glencore Xstrata records growth in maiden trading update
13th May 2013 07:19
Glencore Xstrata, the newly merged commodities trader and mining giant listed on the FTSE 100, said that most asset classes from combined operations registered production growth on the year before. However the company, which completed its multibillion-pound merger on May 2nd, did admit that while i
Read moreLondon close: Stocks end week on a high
10th May 2013 16:42
Market Movers techMARK 2,488.54 +1.63% FTSE 100 6,624.98 +0.49% FTSE 250 14,315.66 +0.24% UK shares climbed made decent gains on Friday, finishing the week 104 points higher. The rise was driven in part by an increase in risk appetite, which seemed to take its cue from the sharp move lower in the
Read moreSector movers: Anglo American leads miners lower
10th May 2013 15:30
Anglo American shares took a hit after its Amplats subsidiary announced plans to axe 6,000 jobs in an effort to reduce costs and improve efficiencies. The move comes as part of a number of proposals aimed at restoring profitability to the mining company. Proposals include revising its baseline pro
Read moreFTSE 100 movers: BT Group charges into the top spot on strong results
10th May 2013 15:29
Shares in BT Group soared on Friday after posting very strong results which saw annual pre-tax profit rise 11 per cent. Adding to the gains was the previous day's news that it will soon offer its sports channels free to any BT broadband customer. Shares in Shire also leapt after it announced Thursd
Read moreWednesday broker round-up UPDATE
8th May 2013 09:08
Altitude Group: WH Ireland initiates with a target price of 50p and a buy recommendation. Betfair Group: Deutsche Bank increases target price from 725p to 884p, while staying with its hold recommendation. Nomura raises target price from 766p to 883p and reiterates a neutral rating. Exane BNP ups ta
Read moreLondon midday: Stocks firmer as policy makers move to buttress growth
7th May 2013 11:49
Investor sentiment seems to have firmed a little in the first half of the session. That comes after a cautious start higher after the long weekend and as traders continued to debate about how much further the current push higher in equity markets has to go. Be that as it may, the latest data from t
Read moreLondon open: Buying interest on the rise in commodity space
7th May 2013 08:40
Investors in London have come back from the long weekend with a slightly cautious attitude, as traders continue to debate whether the current push higher in equity markets will be sustained or not. In that regard, Gary Parkison, from The Times, warns today on the recent sharp rise seen in the numbe
Read moreLondon close: US jobs data sends FTSE 100 to seven-week high
3rd May 2013 16:31
The FTSE 100 jumped one per cent higher to a seven-week high on Friday afternoon with stock markets rejoicing as the US jobs report smashed forecasts in April and previous months' data was revised higher. London's benchmark index closed up 61 points (+0.94%) to close at 6,521, a level not seen sinc
Read moreSector movers: Miners jump on improved US outlook
3rd May 2013 15:28
Mining stocks surged on Friday as the outlook for the world's largest economy brightened after labour-market data smashed expectations. Increased risk appetite sent the resource-heavy FTSE 100 up over 1.0% in afternoon trade with ENRC leading the way, gaining 8.3% to 284.2p. Antofagasta, EVRAZ and
Read moreFTSE 100 movers: ENRC leads miners higher
3rd May 2013 15:05
Mining stocks were making decent gains as metals prices improved. ENRC was the standout performer on the back of reports Suleiman Kerimov, the Russian billionaire, has increased his stake in the miner. Also on the rise was newly merged commodities trader and mining giant Glencore Xstrata on its fi
Read moreLondon midday: Miners buoy Footsie ahead of US jobs data
3rd May 2013 11:43
Strength in the mining sector kept the FTSE 100 in positive territory on Friday morning, though the index was rangebound ahead of the all-important US jobs report due out this afternoon. A surprise drop in American jobless claims yesterday pushed the S&P 500 to a new all-time high last night as mar
Read moreLondon close: Stocks gain after ECB rate cut, US data
2nd May 2013 16:32
After a subdued start, the FTSE 100 ended Thursday's session in a volatile fashion as traders digested an underwhelming interest-rate cut from the European Central Bank (ECB), comments from Mario Draghi and better-than-expected economic data from the States. The ECB did what was expected at midday
Read moreFTSE 100 movers: Glencore leaps after merger finally completes
2nd May 2013 15:32
Glencore International was in the top spot after finally completing the merger with fellow miner Xstrata. Oil and gas conglomerate BG Group was also a strong riser after it cheered investors with a one per cent rise in revenue and other operating income. Financial services group Legal & General
Read moreGlencore - Xstrata merger finally completes
2nd May 2013 12:52
The merger of mining giants Glencore and Xstrata has finally reached completion, it was announced Thursday. Under the deal, Xstrata shareholders will receive 3.05 new Glencore shares for every one Xstrata share held. As such, 6.16bn new Glencore shares will be added to to market as of Friday May
Read moreXstrata - Glencore merger update: Court sanctions scheme of arrangement
29th Apr 2013 13:43
Mining giant Xstrata has reported that the High Court of Justice of England and Wales has sanctioned the new scheme to effect the all-share merger of Xstrata and Glencore. The group reported that an application had been made to the UK Listing Authority and the London Stock Exchange requesting that
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