Australia Swan: Resources Royalty Rise Shows Not Getting Fair Return
22nd Jun 2010 01:52
CANBERRA (Dow Jones)--Australia's Treasurer Wayne Swan said Tuesday an agreement by BHP Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RIO.AU) to pay higher state royalties on their iron ore operations in the Pilbara region of Western Australia shows Australians haven't been getting a fair return on non
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Bearish
22nd Jun 2010 00:52
2352 GMT [Dow Jones] S&P/ASX 200 offshore leads bearish, with overnight SPI 200 futures down 45 points, or 1.0%, at 4506.0 as Wall Street suffered from disappointing home sales data and steep falls in energy stocks after the White House vowed to appeal a judge's decision to block 6-month moratorium
Read moreADR Report: Shares Up On Material Stocks; Europe Ends Down
21st Jun 2010 22:26
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York ended mixed, as the Chinese government's pledge to make its exchange rate more flexible sparked a broad rally, although that momentum faded later in the day. The Bank of New York i
Read moreUPDATE: CME To Launch Iron-Ore Swap Futures From July 11
21st Jun 2010 20:23
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.S.-based CME Group Inc. (CME) Monday announced the launch of trading and clearing services for iron-ore swap futures with 62% ferrous content delivered into China, freight and insurance included. Trading will begin July 11 fo
Read moreUPDATE: Material Stocks Soar As China To Ease Currency Peg
21st Jun 2010 17:21
(Updates with more comments, coal industry's rise, fresh share prices.) 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 t
Read moreLondon 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
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