MARKET TALK: S&P/ASX 200 Up 0.4%; Cyclicals Recover Early
18th Jun 2010 01:59
0058 GMT [Dow Jones] S&P/ASX 200 up 0.4% at 4543.4, hits 4556.3 as cyclicals recover from Thursday's pull-back and defensives also trade firmly after late recovery on Wall Street. Materials, financials and energy jump in early trading, with BHP (BHP.AU) up 0.6%, Rio (RIO.AU) up 1.2%, Origin (ORG.AU)
Read moreMARKET TALK: BHP's Key Iron Ore Rail Line Closed After Incident
18th Jun 2010 01:33
0033 GMT [Dow Jones] BHP Billiton (BHP.AU) says its main iron ore rail line in the Pilbara region of Western Australia has been closed after an "incident" early Friday morning. "The affected part of our main line rail from Newman to Port Hedland has been closed and all rail construction work has bee
Read moreMARKET TALK: Rio Tinto Back On The Investment Trail - UBS
18th Jun 2010 01:09
0009 GMT [Dow Jones] UBS says Rio Tinto's (RIO.AU) approval of the US$469 million Eagle nickel and copper mine is a further sign that the miner is spending on growth again after being in cash conservation mode in 2008/09. "While Eagle is a small project, we would look for Rio to increase its capital
Read moreLondon close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
Read moreMARKET TALK: Investec Securities Cuts Rio Tinto Target Price
17th Jun 2010 13:32
1232 GMT [Dow Jones] Investec Securities cuts Rio Tinto (RTP) target price to 4500p from 4750p. "We believe the company will generate strong free cashflow this year and forecast it will be in a net cash position by end 2011," Investec says. The brokerage reiterates the view that at its current level
Read moreUK 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
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