MARKET TALK: S&P/ASX 200 Up 0.5% After Centennial Coal Bid
5th Jul 2010 01:48
0048 GMT [Dow Jones] S&P/ASX 200 up 0.5% at 4259.3, despite Wall Street's modest falls on disappointing economic data. Banpu's revised bid for Centennial Coal (CEY.AU), worth about A$2.45 billion, has given a minor bullish catalyst. Highlights improved landscape for M&A after the government agreed w
Read moreSouth Africa Chamber Of Mines Taps Bheki Sibiya CEO-Designate
4th Jul 2010 12:54
JOHANNESBURG (Dow Jones)--South African industry body the Chamber of Mines said Sunday Bhekokuhle "Bheki" Sibiya, chairman of investment fund management firm Brait South Africa Ltd., has been named chief executive-designate. Sibiya takes up the post Monday and Jan. 1 will succeed Mzolisi Diliza,
Read moreChina Investigates Neighbors' Resources Such As Iron Ore-Report
4th Jul 2010 10:26
BEIJING (Dow Jones)--China's government has started an investigation into its neighbors' resources reserves, such as iron ore, and is seeking possibilities of mergers and acquisitions in the future, the China Business Journal reported Saturday. The investigation, launched by China's Ministry of
Read moreLondon close: Stocks cling on to gains
2nd Jul 2010 16:57
Leading shares went into a swoon in the final two hours of the trading session, taking their lead from the US which, after spending a while to analyse the non-farm payrolls data, moved lower. Despite coming off the top in late afternoon Footsie finished the day in positive territory, largely due t
Read moreJP Morgan To Reinvest In Australia Mining After Tax Changes
2nd Jul 2010 16:56
By Rhiannon Hoyle Of DOW JONES NEWSWIRES LONDON (Dow Jones)--JP Morgan Chase & Co. (JPM) will look to increase its holdings in Australian mining assets after the government announced sweeping changes to its proposed new resources tax Friday. Ian Henderson, who manages several onshore and
Read moreUS HOT STOCKS: Lincare Holdings, Wilshire Bancorp, Blockbuster
2nd Jul 2010 15:44
U.S. stocks were slightly higher Friday as the Dow Jones Industrial Average rose 4.8 points to 9739, the S&P 500 gained 2.5 points to 1030 and the Nasdaq Composite gained 3.2 points to 2104. Among the companies whose shares are actively trading are Lincare Holdings Inc. (LNCR), Wilshire Bancorp Inc.
Read moreLondon afternoon: Shares recover from US jobs jolt
2nd Jul 2010 14:16
The release of US jobs data checked Footsie's rise, prompting a 25 point fall in a matter of minutes, but the blue-chip index has since resumed its cautious climb. US jobs data for June came in worse than expected overall, but it was a mixed message with the unemployment rate falling to a 12-month
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 13:11
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1211 GMT [Dow Jones] The fact the proposed Australian Resource Super Profits Tax is now to be replaced by a newly titled, and
Read moreMARKET TALK: Mining Tax Changes Great For Rio, Xstrata, BHP
2nd Jul 2010 13:11
1211 GMT [Dow Jones] The fact the proposed Australian Resource Super Profits Tax is now to be replaced by a newly titled, and greatly watered down, Minerals Resources Rent tax is great news for the likes of Rio Tinto (RIO.LN), Xstrata (XTA.LN) and BHP Billiton (BLT.LN), says Ambrian. "We continue to
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
2nd Jul 2010 12:32
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1132 GMT [Dow Jones] The changes to the proposed Australian mining tax are a major positive for Australia-based miners, s
Read moreMARKET TALK: Australian Mining Tax Amendments Major Positive
2nd Jul 2010 12:32
1132 GMT [Dow Jones] The changes to the proposed Australian mining tax are a major positive for Australia-based miners, says Dolmen Securities. "The amendments appear to have struck a balance between the miners and the reformed government, with pragmatic concessions made on both sides." Notes the n
Read moreLondon midday: Stocks steady ahead of US jobless
2nd Jul 2010 12:22
Footsie ended the morning on or around its high for the day but trading is quiet ahead of the release this afternoon of the US non-farm payrolls data. Resource stocks continue to lead the way while banks claw back some of their recent losses as fears over European banks' balance sheets recedes. Da
Read moreMARKET TALK: Evolution Upgrades Rio Tinto To Buy From Add
2nd Jul 2010 12:03
1103 GMT [Dow Jones] Evolution Securities upgrades Rio Tinto (RIO.LN) to buy from add and raises its target price to 3590p from 3525p following the latest iteration of the proposed mineral resources tax in Australia. The new proposals indicate a 740p/share reduction in the brokerage's discounted cas
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
2nd Jul 2010 12:03
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1103 GMT [Dow Jones] Evolution Securities upgrades Rio Tinto (RIO.LN) to buy from add and raises its target price to 3590p
Read moreMARKET TALK: Cost Of Insuring Miners Debt Dn On Aussie Tax News
2nd Jul 2010 11:01
1001 GMT [Dow Jones] The cost of insuring debt issued by mining companies fell early Friday after news the Australian government has made major concessions on its mining Resource Super Profits Tax, now to be called the Minerals Resource Rent Tax. At 0930 GMT, the cost of insuring $10 million of debt
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