MARKET TALK: S&P/ASX 200 Offshore Leads Flat; SPI Down 0.4%
14th Jul 2010 00:51
2351 GMT [Dow Jones] S&P/ASX 200 offshore leads flat, though overnight SPI 200 futures down 16 points, or 0.4%, at 4429.0 on renewed concern about U.S. economy. DJIA up 3.7 points at 10366.72 (7th straight gain), S&P 500 down 0.2 points, Nasdaq up 0.4%. Fed lowered its 2010 GDP growth forecast to 3.
Read moreUPDATE:Ivanhoe Removes Restriction For Potential Investors
13th Jul 2010 17:20
(Adds details) By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Ivanhoe Mines Ltd. (IVN.T) Tuesday said it was terminating a covenant that governs Rio Tinto PLC's (RTP) investment in Ivanhoe, a step that will allow the Canadian miner to issue more than 5% of its shares to str
Read moreMARKET TALK: Ivanhoe In Play After Lifting Share Issue Cap
13th Jul 2010 16:23
1523 GMT [Dow Jones] "Ivanhoe (IVN.T) is in play" after the Canadian miner gave Rio Tinto (RTP) notice that it was terminating its Strategic Purchaser Covenant, says Raymond Goldie of Salman Partners. "If there were to be a take-out, we consider...C$19.85/share to be a likely figure at which the com
Read moreIvanhoe Lifts Restrictions On Stake For Potential Investors
13th Jul 2010 14:53
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Ivanhoe Mines Ltd (IVN.T) Tuesday said it was terminating a covenant that governs Rio Tinto PLC's (RTP) investment in Ivanhoe, a step that will allow the Canadian miner to issue more than 5% of its shares to strategic investors.
Read more2nd UPDATE: ERA 2010 Production Seen Down 18% On Poor Ore-CEO
13th Jul 2010 05:10
(adds CEO comment, heap leach background, recasts) By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Poorer-than-expected ore grades at the resumption of dry season mining in Energy Resources of Australia Ltd.'s (ERA.AU) Ranger uranium mine will be largely responsible for a
Read moreUPDATE: Energy Resources 2010 Production Expected Down 18%
13th Jul 2010 03:11
(Adds analyst comment, background) By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Production from Energy Resources of Australia Ltd.'s (ERA.AU) Ranger uranium mine is expected to be down as much as 18% in 2010 due to increased rainfall and hitting a patch of less producti
Read moreUPDATE: Energy Resources 2010 Production Expected Down 18%
13th Jul 2010 03:10
(Adds analyst comment, background) SYDNEY (Dow Jones)--Production from Energy Resources of Australia Ltd.'s (ERA.AU) Ranger uranium mine is expected to be down as much as 18% in 2010 due to increased rainfall and hitting a patch of less productive ore, the company said Tuesday. Forecast ful
Read moreMARKET TALK: S&P/ASX 200 Up 0.2%; Banks Offset Miners
13th Jul 2010 01:44
0044 GMT [Dow Jones] S&P/ASX 200 up 0.2% at 4420.3, hits 11-day high of 4429.1 as strength in financials and most other sectors offsets the weakness in materials inherited from Wall Street. Major banks up 0.6%-1.7%, while BHP (BHP.AU) down 1.5%, Rio Tinto (RIO.AU) down 1.9%, Fortescue (FMG.AU) down
Read moreEnergy Resources: Production Now Expected Down 18% In 2010
13th Jul 2010 01:15
SYDNEY (Dow Jones)--Production from Energy Resources of Australia Ltd.'s (ERA.AU) Ranger uranium mine is expected to be down as much as 18% in 2010 due to increased rainfall and hitting a patch of less productive ore, the company said Tuesday. Forecast full-year production was downgraded from a
Read moreMARKET TALK: ERA Cut To Sell; BHP, Rio Better Uranium Plays-RBS
13th Jul 2010 00:23
2322 GMT [Dow Jones] STOCK CALL: Energy Resources of Australia (ERA.AU) moved down to Sell from Hold by RBS analyst Lyndon Fagan, sees "few positive catalysts on the horizon" and prefers diversified miners Rio Tinto (RIO.AU), BHP Billiton (BHP.AU) for uranium exposure; fall in ERA's 2Q uranium produ
Read moreMARKET TALK: Alumina Ltd Raised To Hold Despite EPS Cut -Citi
13th Jul 2010 00:15
2315 GMT [Dow Jones] STOCK CALL: Alumina Ltd. (AWC.AU) moved up from Sell to Hold by Citi analyst Clarke Wilkins, but overall tone of note somewhat negative and play is "only for aluminum bulls". EPS downgraded from A$1.80 to A$1.70, meaning AWC trading on 14x 2011 expected earnings, well above 8x f
Read moreADR Report: Shares Close Lower As Latin America Weighs
12th Jul 2010 21:57
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed lower, with Latin America posting the biggest drop. The Bank of New York index of ADRs closed down 0.4% to 120.54. Miners were hit, as Japan's Fair Trade Commission is e
Read moreJapan To Conduct In-Depth Review Of BHP-Rio Tinto Deal -Nikkei
12th Jul 2010 18:09
TOKYO (Nikkei)--Japan's Fair Trade Commission is expected to move forward with its antitrust review of BHP Billiton Ltd. (BHP) and Rio Tinto Group's plan to integrate their Australian iron ore operations, the Nikkei reports Tuesday. The initial 30-day review period ends Friday, but the commissio
Read moreUPDATE:Ivanhoe To Support Rights Plan In Rio Tinto Arbitration
12th Jul 2010 16:53
(Updates adding further comment, detail.) DOW JONES NEWSWIRES Ivanhoe Mines Ltd. (IVN) doesn't believe its shareholder rights plan breaches any of Rio Tinto PLC's (RTP) existing contractual rights and said it will continue to support the plan in the arbitration proceeding initiated by Rio T
Read moreLondon close: BP rally lifts Footsie
12th Jul 2010 16:38
BP was in the driving seat, helping Footsie to good gains as the oil giant's shares rallied on the back of bid talk and hopes that the beginning of the end of the Gulf of Mexico oil leak is in sight. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago
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