Rio Tinto Seeks 20% Price Hike For 3Q Iron Ore To China -Report
9th Jun 2010 03:54
SHANGHAI (Dow Jones)-- Anglo-Australian resource giant Rio Tinto Ltd. (RIO.AU) has notified Chinese steelmakers that the price of iron ore for the July-September period will be raised some 20% from the previous quarter, the state-run China Securities Journal reported Wednesday. The price offer o
Read moreXstrata Details Australian Tax Payments Amid Resource Levy Row
9th Jun 2010 03:50
MELBOURNE (Dow Jones)--Xstrata Plc (XTA.LN) said Wednesday it paid an average effective tax rate of 40% in Australia from 2002 to 2009, rising to 48% in the past three years. Amid criticism from Australian Prime Minister Kevin Rudd that mining companies were exaggerating the impact of a proposed
Read moreMARKET TALK: S&P/ASX 200 Near Flat; Cyclicals Underperforming
9th Jun 2010 03:27
0227 GMT [Dow Jones] S&P/ASX 200 near flat at 4381.7 after bouncing off an intraday low of 4361.3. Offshore markets have pared some of their intraday falls, with Nikkei down 0.5%, S&P 500 futures down 0.2%. However, cyclical stocks are generally weak, with Westpac (WBC.AU) down 1.0%, BHP (BHP.AU) do
Read moreBHP, Rio Tinto Seek Monthly Contracts With Chinese Steelmakers-Report
9th Jun 2010 03:14
SYDNEY (Dow Jones)--BHP Billiton Ltd. (BHP) and Rio Tinto Plc (RTP) are offering monthly iron ore prices to Chinese steelmakers, just months after moving from an annual to a quarterly pricing regime, Metal Bulletin reported. The report Tuesday quoted sources at Wuhan Steel and Shagang Group, Chi
Read moreMARKET TALK: S&P/ASX 200 Down 0.2% In Choppy Trading
9th Jun 2010 01:45
0045 GMT [Dow Jones] S&P/ASX 200 down 0.2% at 4375.1 having retreated to 4367.0 in choppy trading after briefly hitting 4390.0. Westpac (WBC.AU), Rio Tinto (RIO.AU) and Westfield (WDC.AU) weighing on the market, with falls of 0.8%-1.2%, while QBE (QBE.AU), CSL (CSL.AU) and Telstra (TLS.AU) are up 0.
Read moreAustralian 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
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