Rio Tinto Completes Last Leg Of Alcan Packaging Divestments
5th Jul 2010 07:39
MELBOURNE (Dow Jones)--Rio Tinto Ltd. (RIO.AU) said Monday it has completed the divestment of the last of its Alcan packaging businesses, bringing the miner's total divestments since 2008 to more than US$10 billion. The Alcan medical flexibles business has been sold to Amcor Ltd. (AMC.AU) for US
Read moreLondon pre-open: Footsie targets tiny gain
5th Jul 2010 07:37
It's looking like a quiet and nervy start for London as US stocks struck a new low for 2010 in very late trade Friday. Any moves will be locally-led in the absence of Wall Street, closed for Independence Day. Futures prices indicate a 4-point gain in early trade. The Dow Jones closed down 46 on Fri
Read moreRio completes Alcan Packaging sales
5th Jul 2010 07:28
Mining giant Rio Tinto has sold the last two remaining parts of its Alcan Packaging business. Medical Flexibles, which comprises four North American plants, has been acquired for $66m by Amcor, and completes Amcor's acquisition of the Alcan Packaging global Pharmaceuticals, global Tobacco, Food Eur
Read moreMARKET TALK: S&P/ASX 200 Turns Down As Shanghai Falls
5th Jul 2010 03:21
0221 GMT [Dow Jones] S&P/ASX 200 down 0.2% at 4232.3, hits intraday low of 4231.3 after fading from 4260.1 intraday peak amid weakness in China equities, with Shanghai Composite down 1.7% in early trading. Banks have mostly turned negative, with NAB (NAB.AU) down 1.3%, while resources remain positiv
Read moreMARKET TALK: Reworked Mining Tax Eases Value Impact - Citi
5th Jul 2010 02:29
0129 GMT [Dow Jones] Changes to Australia's proposed new mining tax have made it much less damaging for miners, but junior iron ore and coal stocks are still losers, Citi says. Says the impact of the reworked tax on the net present value of BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU) is 1%-3% where
Read moreMARKET 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 more