London close: China currency move lifts shares
21st Jun 2010 16:31
Footsie closed just shy of 5,300 as mining stocks advanced on higher commodity prices after China's decision to delink the yuan from the US dollar. Miners Vedanta, Rio Tinto, Xstrata, Antofagasta and BHP Billiton were among the best performers. BHP and Rio have agreed to increase iron ore royalti
Read moreMaterial Stocks Soar On China's Plan To Ease Currency Peg
21st Jun 2010 15:56
By David Benoit Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Material stocks, particularly those most closely tied to the world-wide economy, climbed aggressively on Monday as the Chinese government announced plans to allow more flexibility into the exchange rate on its currency. China's new
Read moreFTSE 100 movers: New China currency policy boost miners
21st Jun 2010 15:34
Miners are dominating the risers in the Footsie following a change in Chinese policy over the Yuan. China says that it will allow its currency to make a modest appreciation following a two-year period when it was pegged to the dollar. This is good news for importers of metals into China. Vedanta
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
21st Jun 2010 14:30
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] 1330 GMT [Dow Jones] S&P Equity Research cuts Rio Tinto (RIO.LN) price target to 4000p from 4600p to reflect the impact of th
Read moreMARKET TALK: S&P Equity Research Cuts Rio Tinto Price Target
21st Jun 2010 14:30
1330 GMT [Dow Jones] S&P Equity Research cuts Rio Tinto (RIO.LN) price target to 4000p from 4600p to reflect the impact of the proposed Australian Resource Super Profits Tax and lower sector multiples. The market has over-reacted to the tax, which if fully implemented, S&P reckons would lower group
Read moreLondon afternoon: Miners lead the advance
21st Jun 2010 14:20
China's decision to delink the yuan from the US dollar has provided UK stocks with a lift and calmed nerves ahead of tomorrow's hair-shirt Budget from chancellor of the exchequer George Osborne. Miners are the main beneficiaries of the optimism engendered by China's move, with Vedanta, Rio Tinto, X
Read moreBEFORE THE BELL: US Stock Futures Higher On China Yuan News
21st Jun 2010 13:23
By Steve Goldstein U.S. stock futures, Chinese airlines and natural resource companies led a global advance in equities and commodities markets Monday after China said it would lift the lid on its tightly-controlled currency, spurring expectations for growth in the world's third largest economy
Read moreSector movers: Miners on the march
21st Jun 2010 12:43
News that China will allow the yuan more flexibility after a two-year peg against the dollar has given the mining sector a lift. Among today's top performers are BHP and Rio, which have agreed to increase iron ore royalties at all their mines in Western Australia in order to smooth the passage of
Read moreLondon midday: Yuan move lifts equities
21st Jun 2010 12:06
Having just failed to make it eight consecutive gains in a row on Friday the blue-chip index is resuming its steady rise today as stocks are buoyed by news that China will allow the yuan more flexibility after a two-year peg against the dollar. It's hoped the decision will reinvigorate the Chinese
Read moreBHP, Rio Tinto Mining JV Antitrust Probes Extended
21st Jun 2010 11:05
By Peppi Kiviniemi Of DOW JONES NEWSWIRES BRUSSELS (Dow Jones)--The planned joint venture between Australian iron ore miners BHP Billiton PLC (BHP) and Rio Tinto Ltd. (RTP) faces prolonged antitrust scrutiny in Australia and Europe. Both the German Cartel Office and the Australian Compe
Read moreUPDATE: BHP, Rio Tinto Agree To Higher Australian Iron Ore Royalties
21st Jun 2010 09:58
(Adds comments by Western Australian Premier, Rio Tinto Iron Ore CEO, analyst) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) said Monday they have agreed to pay higher royalties on their giant iron ore operations in Pilbara
Read moreLondon open: Footsie surges after China's currency move
21st Jun 2010 08:51
News over the weekend that China will relax its currency's peg to the dollar has sparked a rush into mining stocks. It's hoped the decision will boost reinvigorate the Chinese economy. Far East markets have already responded, with Japan up 2.5% and Hong Kong nearly 3%. All of the top ten risers s
Read moreBHP and Rio agree royalty hike in West Australia
21st Jun 2010 08:07
BHP Billiton and Rio Tinto have agreed to increase iron ore royalties at all their mines in Western Australia in order to smooth the passage of their US$116bn iron ore joint venture. The deal will see rates rise from 3.75% to 5.625% for fine ore and from 3.25% to 5% for beneficiated, or lower grade
Read moreMARKET TALK: BHP, Rio Agree To Higher WA Iron Ore Royalties
21st Jun 2010 08:02
0702 GMT [Dow Jones] BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU) agree to pay higher royalties in Western Australia in a move that looks calculated to win support from the state government for their iron ore joint venture. The miners have signed a non-binding agreement to raise royalty rates to 5.6
Read moreBHP, Rio Tinto Agree To Higher Iron Ore Royalties In Western Australia
21st Jun 2010 07:32
MELBOURNE (Dow Jones)--BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) said Monday they have agreed to pay higher royalties on their iron ore operations in Pilbara region of Western Australia. While the agreement with the Western Australian state government isn't conditional on their planned ir
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