Rio Tinto in Chinese exploration joint venture
1st Jun 2011 11:53
Mining giant Rio Tinto is to establish a large-scale presence in commodity hungry China with the formation of a joint venture with state-owned aluminium producer Chinalco to explore for deposits in the country. The venture, to be known as Chinalco Rio Tinto Exploration (CTTX) will initially concent
Read moreFTSE 100 movers: Essar rises over 5% to lead risers
27th May 2011 14:10
Energy firm Essar Energy is topping the risers, making a +5% gain as of Friday afternoon. Meanwhile, Cairn Energy is the heaviest faller, edging just 0.5% lower. Only five stocks are in the red, all recording minor losses. The miners are tracking metals prices higher. Antofagasta, Kazakhmys, Rio Ti
Read moreLondon midday: Banks provide a boost
27th May 2011 12:05
The Footsie is around 1% higher at the midday point, holding on to early gains. The banking sector is performing well today after positive comments from Citigroup. The US bank upped its rating on European banks to 'overweight', saying that the recent decline in the share prices provides a good entr
Read moreLondon open: Miners and banks head a strong start
27th May 2011 08:28
The Footsie has started strongly, rising over 1% as the index climbs above the 5,900 level. The miners are in demand, with Lonmin, Rio Tinto, Xstrata and Kazakhmys heading higher. The latter announced this morning that it's proposed listing on the Hong Kong stock exchange will not involve the issu
Read moreFTSE 100 movers: Miners rise on metals prices
24th May 2011 15:40
The miners are in demand as precious metals prices continue to ascend. Fresnillo is the highest riser, gaining over 4%. Cairn Energy, Antofagasta, Kazakhmys, Randgold Resources, Xstrata and Rio Tinto are also firmer. Oil groups BG and BP are rising higher, along with crude oil prices. Goldman Sa
Read moreTuesday tips round-up: Stobart, Vectura, Mitie
24th May 2011 06:25
Yesterday, the logistics group Stobart issued full-year figures, with pre-tax profits falling short of market hopes. But the share price rose as the focus turned to the confident outlook statement. Moreover, the stock is down more than 20% since the recent February peak. That, unsurprisingly, has hi
Read moreFTSE 100 movers: AMEC falls after investor day
20th May 2011 15:37
International engineering and project management company AMEC is the worst performer of the day after an investor event. There is speculation that the group is keen to keep on buying after its recent acquisition of US peer Mactec, limiting the chance of a special dividend, according to reports. BP
Read moreRio extends Riverdale deadline...again
20th May 2011 09:56
In what now seems to be a regular announcement, Rio Tinto revealed on Friday that it has again extended its takeover offer for Africa-focused coal miner Riversdale Mining by a further two weeks. The extension was taken in the hope that it would give minority shareholders additional time to jump on
Read moreRio Tinto sets coupons on $2bn of bonds
18th May 2011 08:17
Mining colossus Rio Tinto has priced up $2bn worth of fixed rate bonds to be issued by Rio Tinto Finance (USA). The $700m of five year bonds will pay a coupon of 2.5% and will mature on 20 May 2016, the $1bn of 10 year notes will pay a coupon of 4.125% and will mature on 20 May 2021 while the $300m
Read moreSector movers: Antofagasta, Rio Tinto lead the miners
16th May 2011 16:11
The mining sector is wanted today as analysts have highlighted the recent bout of profit-taking - on the back of falling commodities prices - as a good buying opportunity. Blue chip miners Antofagasta, Rio Tinto, Anglo American, Fresnillo, BHP Billiton and Vedanta Resources are all higher. Indust
Read moreFTSE 100 movers: Aggreko leads the fallers
16th May 2011 15:45
The Footsie has come off its lows but remains in the red, led by temporary power supplier Aggreko, who is trading over 3% lower. Engineers Invensys and Weir are also out of favour. Data software firm Autonomy is wanted after it announced that it is to boost its cloud computing capability with a $38
Read moreFTSE 100 movers: RBS's profit impresses
6th May 2011 14:47
RBS is topping the risers after making £1.05bn in underlying first quarter operating profit, p from £0.88bn the year before. Flying higher is airline IAG after it saw an improved performance in the first quarter as it reported its first results since forming from the merger of British Airways and S
Read moreRiversdale hold-outs given more time by Rio
6th May 2011 09:18
Mining giant Rio Tinto has again pushed back the deadline for its takeover offer for Africa-focused coal miner Riversdale Mining, giving minority shareholders more time to jump on board before the target is delisted from the Australian Stock Exchange. On Tuesday, Rio announced extended the offer pe
Read moreLondon close: Sluggish day for FTSE 100
3rd May 2011 16:46
Shares started well after the extended weekend, but the buoyancy soon gave way to sluggishness and the top share index closed just a few points higher. Hedge fund manager Man Group was a strong performer after it announced the launch of an AHL open-ended fund in Japan, Nomura Global Trend, which ha
Read moreLondon midday: Shares seek direction as early strength evaporates
3rd May 2011 12:01
The strong performance as trading restarted following the extended weekend has fizzled out and shares are currently seeking direction. Hedge fund manager Man Group is setting the pace after it announced the launch of an AHL open-ended fund in Japan, Nomura Global Trend, which has raised $1.5 billio
Read more