Australian Mining Lobby Says Mining Tax Stoking Sovereign Risk Fears
9th Jun 2010 01:22
MELBOURNE (Dow Jones)--A proposed new mining tax is creating concerns about sovereign risk in Australia and will weaken the nation's economy, the mining industry lobby said Wednesday. As Prime Minister Kevin Rudd prepares to start selling the tax in the resource rich state of Western Australia,
Read moreLondon afternoon: Miners revival not enough
8th Jun 2010 14:40
Footsie staged a small revival over the lunch time session, helped by a recovery by mining stocks, but the majority of FTSE 100 constituents are still in the red with laggards outnumbering leaders by three to one. BP is again among the worst performers as US president Barack Obama said he'd sack t
Read moreLondon midday: Blue chips struggle
8th Jun 2010 12:35
Blue chips struggled all morning with BP under the cosh again and investors surprised by the retirement of Tesco boss Sir Terry Leahy. BP is again among the worst performers as US president Barack Obama said he'd sack the British company's chief executive Tony Hayward. In an interview with NBC to b
Read more2ND UPDATE: Zimbabwe Meets Rights Standards -Diamonds Monitor
8th Jun 2010 10:36
(Adds quotes, details on report) HARARE, Zimbabwe (AFP)--Zimbabwe has met minimum human rights standards in its diamond fields, an international monitor said in a report Tuesday, bringing the country a step closer to resuming international trade in the gems. "Zimbabwe has satisfied minimum
Read moreEMED Mining Settles Mine Terms With Spanish Social Security
8th Jun 2010 07:31
LONDON (Dow Jones)--EMED Mining Public Limited (EMED.LN), an exploration and development of natural resources company, announced Tuesday that its wholly-owned subsidiary EMED Tartessus S.L. has settled the terms with Department of Social Security in Spain for extinguishing its liens against its prin
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Bullish; SPI Up 0.2%
8th Jun 2010 00:31
2331 GMT [Dow Jones] S&P/ASX 200 offshore leads slightly bullish, with overnight SPI 200 futures up 7 points, or 0.2%, at 4401.0 after late rally on Wall Street, partly attributed to reassuring comments from Fed Chairman Bernanke late Monday U.S. time. DJIA up 1.3% at 9939.98, S&P 500 up 1.1% at 106
Read moreTuesday newspaper round-up: Prudential, Apple, Deflation
25th May 2010 06:40
Prudential's market debut in Hong Kong fizzled this morning as the stock dived by more than 2.5% in the first half hour of trading over fresh concerns for the prospects of its planned $35bn takeover of AIA. The plunge, if sustained over coming days, could cast a dark cloud over Prudential's impend
Read moreFTSE 100 movers: BP continues to suffer
24th May 2010 15:02
BP's woes in the Gulf of Mexico are dragging down its peers and the Footsie. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. A week ago, the cost was estimate
Read moreLondon afternoon: Back to square one
24th May 2010 13:42
Footsie has limped back into positive territory, helped by an about turn by the mining stocks. After spending the morning down in the dumps Rio Tinto is now the best performing mining stock as metal prices head northwards. Fellow mining stocks Xstrata and Anglo American join Rio on the rise but S
Read moreLondon open: Bright start in London
24th May 2010 08:49
London has made a bright start in all senses with the index picking up handily and the weather matching it. Prudential is the best performer on reports that US firm AIG has drawn up plans to float its Asian arm again if the Pru's attempts to buy it collapse. Miners are also going well on the rally
Read moreLondon close: Late rally limits losses
21st May 2010 16:32
It was a volatile day on the markets, but Footsie rallied back above 5,000 points before the close, having sunk below that level earlier in the afternoon, and finished only slightly in the red. European worries are continuing to set traders' nerves on edge. Germany's parliament approved the country
Read moreLondon afternoon: Footsie sinks below 5,000
21st May 2010 14:24
The FTSE 100 has plunged below 5,000 for the first time in over six months as markets continue to fret about Europe's sovereign debt crisis and potential financial regulation. London's leading index sank below the big figure just after midday. It hasn't been this low since early November and hasn't
Read moreSector movers: Miners buck the downward trend
21st May 2010 14:07
Unusually for a day that has seen the FTSE 100 sliding more than 100 points, miners are in demand. The sector has been helped by a slight improvement in metals prices, which comes after a week of sharp declines. FTSE 100 mining stalwarts such as Xstrata, Fresnillo and Rio Tinto are wanted. But sh
Read moreLondon midday: Footsie back in the red
21st May 2010 11:38
After briefly tip-toeing into the blue, Footsie is now back in the red again as concerns about eurozone debt persist. Germany's parliament is expected to approve the country's share of a €750bn eurozone rescue package on Friday. Both houses of parliament are scheduled to vote on its potential €148b
Read moreLondon open: Modest fall for Footsie
21st May 2010 08:48
London's top stocks have opened lower but the decline is modest compared to the hammering US blue chips took overnight. British Airways record pre-tax loss of £531m is providing some distraction. The carrier was hit by strike action, bad winter weather disruption and the impact from the global rece
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