Rio Tinto declares Riversdale a done deal
29th Mar 2011 07:38
Rio Tinto's A$3.9bn (£2.4bn) bid for Australian coal miner Riversdale has been declared unconditional. Eager shareholders who've already sent off their acceptance forms will get the $16 a share offered by 5 April, but will be watching closely to see if Rio gets enough backing to see that increased
Read moreSector movers: ENRC leads miners higher
23rd Mar 2011 17:37
The mining sector was the best performing sector Wednesday, helped higher by strong gains from the blue chips. Kazakhstan-based mining giant ENRC announced that underlying profits more than doubled last year. Shares in Kazakhmys, Xstrata, Rio Tinto and Antofagasta rose in sympathy. The industrial
Read moreLondon afternoon: Stocks consolidate gains
21st Mar 2011 14:53
Stocks have largely been in consolidation mode in the afternoon session after a strong performance this morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm will become number one, but both AT&
Read moreLondon midday: Stocks back on the climb
21st Mar 2011 12:23
Footsie finished the morning 10 points or so below its high for the day after regaining impetus following a mild spell of profit taking mid-morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm
Read moreLondon open: Telecoms power forward on AT&T move
21st Mar 2011 08:50
Footsie has opened brightly with telecoms stocks powering ahead on the back of AT&T's huge $39bn bid for Deutsche Telekom's T-Mobile USA. Vodafone is top riser as analysts have wasted little time working out what it means in value terms for Vodafone's 45% stake in current US market leader Verizon
Read moreLondon pre-open: Footsie set for strong start
21st Mar 2011 07:39
The firmer trend seen towards the end of last week has continued this morning as the situation in Libya looks like it is coming to a head while repair work gets underway at the damaged Fukushima Daiichi power plant in Japan. City traders predict the top share index could open around 70 points highe
Read moreRio extends Riversdale offer period
21st Mar 2011 07:17
Mining giant Rio Tinto is extending the acceptance period for its A$3.9bn bid for Australian coal miner Riversdale by three days. The extension applies both to the acceptance period, which now runs to 6 April, and the deadline by which more than 50% of Riversdale shareholders must accept the offer
Read moreRio Tinto's Riversdale bid backed by a third
18th Mar 2011 07:53
Rio Tinto has crept closer to getting enough backing for its improved $3.9bn (£2.4bn) offer for coal miner Riversdale, but it still needs at least one of its two big shareholders to say yes. It has received acceptances totalling 13.68% and has a relevant interest in 19.36% of the shares for a total
Read moreLondon close: Heavy losses despite recovery
15th Mar 2011 16:42
The FTSE 100 closed deep in the red Tuesday amid continuing worries over the situation in Japan, though losses were more than halved following a slide in the morning as nerves calmed. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation le
Read moreLondon afternoon: Stocks stabilise
15th Mar 2011 14:27
Leading shares remain deep in the red and the best that can be said is that the situation did not get materially worse over the lunch time session. A third explosion at the Fukushima Daiichi nuclear power plant in Japan has raised concerns of a major radiation leak and sparked panic selling on the
Read moreLondon midday: Slide continues in quake aftermath
15th Mar 2011 12:09
The blue chip index continues to be hurt by the crisis in Japan as sentiment remains battered by fears of a nuclear disaster. While off its lows for the day so far, the FTSE 100 still remains over 2% under at around 5,640, a level not seen this year. A third explosion at the Fukushima Daiichi nucle
Read moreAdditional disclosure by Rio satisfies accounting panel
15th Mar 2011 11:32
The Financial Reporting Review Panel of the Financial Reporting Council (FRC) has had Rio Tinto's accounts under review but it says it "regards its enquiries as concluded" after the mining giant added more information on environmental and social issues to its 2010 annual review. A complaint had be
Read moreWife of outgoing FD sells British Land shares
14th Mar 2011 17:19
Diane Roberts, the wife of British Land finance director Graham Roberts, has raised more than £1m by selling more than three-quarters of the couple's stake in the property investor. She sold 191,780 shares at 562.8p each, which raised £1.08m. The couple are left with 50,464 shares in British Land.
Read moreLondon close: Japanese concerns knock Footsie
14th Mar 2011 16:47
London closed near to its low for the day as a decline on Wall Street dragged the market lower later in the day and there were concerns about the possible effects of the Japanese earthquake on financial markets and global economies. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick o
Read moreLondon afternoon: Shares stuck lower as Japan casts shadow
14th Mar 2011 14:57
London's blue chips have turned lower again following falls on Wall Street as traders continue to mull the possible effects of the Japanese earthquake. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick of the mining sector. Also going well is temporary power solutions provider Aggrek
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