Ivanhoe plans to make way for Rio takeover
19th Jan 2012 14:18
Asia Pacific-focused company Ivanhoe Mines, has announced plans to dispose of its shareholder rights plan, a move which will leave the door wide open for mining giant Rio Tinto to up its already sizeable stake in the firm and gain control of the Mongolian Oyu Tolgoi copper-gold mine. Rio's 49% res
Read moreLondon open: Footsie flat despite euro optimism
19th Jan 2012 08:22
The FTSE 100 opened flat on Thursday morning, following gains made yesterday after the news that the International Monetary Fund (IMF) is boosting its lending capacity by at least $500bn. Lifting sentiment was a source from the Greek finance ministry, who told French news agency Agence France-Pre
Read moreLondon midday: Essar recovery pushes Footsie into the blue
18th Jan 2012 12:01
The Footsie pushed into positive territory in late morning trade, helped the blue chip index nudge above the 5,700 mark, helped by a strong recovery from Essar Energy and a well-received trading update from Man Group. Nevertheless, investors are keeping a close eye on Athens today as Greek private
Read moreNcondezi signs new infrastructure agreement
18th Jan 2012 10:56
Mozambique-focused coal miner Ncondezi Coal has signed a new rail and port infrastucture agreement with Rio Tinto Coal Mozambique and Minas de Revuboeas as part of the company's strategy to export coal from its Ncondezi Project. The aim of the agreement is to further study the Integrated Transport
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreLondon open: Tullow, BHP lead resource stocks lower
18th Jan 2012 08:21
Yesterday's optimism - on the back of positive macro data from China, Germany and the US - seems to have been short-lived, with the FTSE 100 falling in to the red in early trading on Wednesday. Eurozone concerns are now again in focus with meetings between the Greek government an private creditors s
Read moreLondon close: Macro data provides a boost, but Essar plunges
17th Jan 2012 16:38
The Footsie finished higher on Tuesday, close to the 5,700 level, but gains were steadily trimmed since the mid-morning. Providing a drag on the blue chip index in afternoon trading was oil and gas giant Essar Energy, which plunged nearly 30% after a negative tax ruling in India. MACRO DATA PROVID
Read moreFTSE 100 movers: RBS tops the list, Essar drops on court ruling
17th Jan 2012 14:59
Part-nationalised lender Royal Bank of Scotland was leading the FTSE 100 higher on Tuesday afternoon after striking a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn). The bank said the sale of RBS Aviation Capital to Sumitomo Mitsui Banking Corporation would str
Read moreLondon midday: Stocks drift higher after Chinese, German data
17th Jan 2012 11:43
Stocks were off their intraday highs by lunchtime but the Footsie was still some 26 points up from yesterday's close, helped by some cheery Chinese GDP data and a better-than-expected German confidence survey. Fourth quarter gross domestic product (GDP) data from China was easing fears of a hard la
Read moreLondon open: Chinese GDP sparks rise, Footsie above 5,700
17th Jan 2012 08:26
The Footsie surged above the 5,700 level in early trading on Tuesday after the Chinese economy expanded at a faster-than-expected rate in the fourth quarter. It seems that investors have shrugged off last night's downgrade of the Eurozone's bailout fund, as just four stocks slipped into the red. Pr
Read moreRio Tinto iron ore production hits record level
17th Jan 2012 07:20
Rio Tinto, the Anglo-Australian mining firm, saw fourth quarter production continue to bounce back after output was hit by severe weather conditions in the first half of the year. Fourth quarter iron ore production hit a new quarterly high of 65m tonnes. On an attributable basis, production was 2%
Read moreTuesday preview: Time for a Burberry check
16th Jan 2012 15:26
Fashion chain Burberry has been one of the success stories of the British retail scene in recent years, thanks in no small part to its international cachet. On Tuesday, it releases an interim management statement covering the third quarter of its fiscal year, which will include the Christmas trading
Read moreLondon open: RBS rises after shake-up, Tesco plummets
12th Jan 2012 08:28
A sharp fall for the retailers was met with a strong showing by the banks this morning, equating to a flat start for the FTSE 100. It has been reasonably busy on the corporate front, with several firms providing trading statements, but RBS and Tesco dominated the headlines early on. MARKETS CELEBRA
Read moreRio Tinto finally gets 100% ownership of Hathor
12th Jan 2012 07:42
Mining giant Rio Tinto has, through an indirect wholly-owned subsidiary, acquired the remaining 5.87%, or 7.9m Hathor shares not already owned by Rio. The firm now anticipates that the Hathor shares will be delisted from the Toronto Stock Exchange by the end of today, Thursday January 12th. It w
Read moreLondon open: Footsie helped higher by miners
10th Jan 2012 08:28
The FTSE 100 had a strong start on Tuesday morning with just two stocks in the red early on. In economic news, UK retail sales values were 2.2% higher on a like-for-like basis in December, helped by an easy comparison when last year was affected by the snow. Total sales rose 4.1%. "On both measures
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