UK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 13:32
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] 1232 GMT [Dow Jones] Investec Securities cuts Rio Tinto (RTP) target price to 4500p from 4750p. "We believe the company will
Read moreLondon open: BP shares jump
17th Jun 2010 08:29
BP is leading London's blue chips higher in early dealings on Thursday following yesterday's meeting with the US president. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to cover claims resulting from the oil spi
Read moreMARKET TALK: SocGen Upgrades Rio Tinto To Buy From Hold
17th Jun 2010 07:53
0653 GMT [Dow Jones] Societe Generale upgrades Rio Tinto (RIO.LN) to buy from hold, and raises its price target to 4150p from 3900p. Expects base metals prices to trend higher as Chinese infrastructure spending remains very strong, and thinks spot prices of bulk commodities should be supportive. Say
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 07:53
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] 0653 GMT [Dow Jones] Societe Generale upgrades Rio Tinto (RIO.LN) to buy from hold, and raises its price target to 4150p from
Read moreMARKET TALK: S&P/ASX 200 Down 0.7%, Tracking Offshore Markets
17th Jun 2010 06:09
0509 GMT [Dow Jones] S&P/ASX 200 down 0.7% at 4527.3, hits intraday low of 4525.9, in line with offshore markets, with Nikkei 225 down 0.6%, S&P 500 futures down 0.4%, AUD/USD down 0.4%. Shanghai Composite is flat after Chinese holidays, despite the upside break of Wall Street this week. Local tradi
Read moreMARKET TALK: S&P/ASX 200 Flat After Futures Expiry
17th Jun 2010 01:51
0051 GMT [Dow Jones] S&P/ASX 200 flat at 4557.7 after June SPI 200 futures expiry boosts volume, albeit within a tight range, this morning. Resources unwinding some of Wednesday's strength, with BHP (BHP.AU) down 0.8%, Rio (RIO.AU) down 0.8%, although Fortescue (FMG.AU) up 0.9%, Newcrest (NCM.AU) up
Read moreJapan July-September Iron Ore Prices Up 23% -Nikkei
16th Jun 2010 23:15
TOKYO (Nikkei)---The two Anglo-Australian mining giants have agreed with Japanese steelmakers on iron ore prices of around $147 per ton for the July-September period, about 23% higher than the previous quarter, the Nikkei reported in its Thursday morning edition. This represents an increase of r
Read morePRESS RELEASE: Rio Tinto Alcan and Landsvirkjun sign landmark agreement to extend power contract to 2036
16th Jun 2010 19:59
MONTREAL, June 16 /CNW Telbec/ - Landsvirkjun, the Icelandic power utility, and Rio Tinto Alcan have successfully concluded negotiations on a renewed power contract for Alcan Iceland Ltd's aluminium smelter in Straumsvik, Iceland. The new contract runs to the year 2036 whereas the current contr
Read moreS&P Lifts Rio Tinto Outlook On Commodity Pricing Rebound >RTP
16th Jun 2010 18:39
DOW JONES NEWSWIRES Standard & Poor's Ratings Services lifted its outlook on mining giant Rio Tinto PLC (RTP, RIO.AU) to positive, saying metals and minerals prices have rebounded after a severe downturn in 2008, and noting the company had reduced its debt. The ratings agency said the impro
Read morePRESS RELEASE: S&P Revises Rio Tinto Outlook To Positive; Ratings Affirmed
16th Jun 2010 18:17
The following is a press release from Standard & Poor's: -- Metals and minerals prices have rebounded after a severe downturn in 2008, and global mining group Rio Tinto has reduced its debt. -- We are revising our outlook on Rio Tinto PLC, Rio Tinto Ltd., and subsidiaries to positive from
Read moreINTERVIEW: Alcoa CEO Says Saudi Smelter Financing Nearly Done
16th Jun 2010 09:35
By Andrea Hotter Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Financing for Alcoa Inc.'s (AA) vast aluminum project in Saudi Arabia is almost complete, with local banks providing the lion's share, the chief executive of the U.S. producer told Dow Jones Newswires. The project, a joint ven
Read moreRio Tinto warns again over Aussie 'super tax'
16th Jun 2010 08:41
Rio Tinto has had another moan about the proposed Australian 'super tax' on the mining industry and tried to clear up speculation about the amount of tax it has actually paid Down Under. "Your board has serious concerns about the impact of this proposed new tax, not only for Rio Tinto and the minin
Read more3rd UPDATE: Australia Government Hails Progress But Miners Say Little Headway In Mining Tax Talks
16th Jun 2010 06:43
(adds comment from PM, BHP, Rio, Xstrata) By Alex Wilson and Rachel Pannett OF DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Australia's government signalled Wednesday it will consider varying the way its planned new mining tax is applied to some sectors of the resources industry, but min
Read moreMARKET TALK: S&P/ASX 200 Up 1.2%; Cyclicals Remain Firm
16th Jun 2010 06:13
0513 GMT [Dow Jones] S&P/ASX 200 up 1.2% at 4556.9 after fading from 4-week high of 4572.4 on light volume. Cyclicals remain firm after offshore gains, with BHP (BHP.AU) up 2.0%, Rio (RIO.AU) up 2.4%, Qantas (QAN.AU) up 4.6%, Asciano (AIO.AU) up 4.4%, Brambles (BXB.AU) up 2.6%, Bluescope Steel (BSL.
Read moreBHP, Rio Tinto, Xstrata Met With Australian Government Wednesday
16th Jun 2010 05:15
CANBERRA (Dow Jones)--Mining giants BHP Billiton Ltd. (BHP.AU), Rio Tinto PLC (RIO.AU) and Xstrata PLC (XTA.LN) met with the Australian government in Canberra Wednesday to discuss a proposed 40% tax on resource sector "super profits" but appear no closer to any compromise deal. The meeting was a
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