Rio gets US clearance for Jacobs Ranch sale
21st Aug 2009 07:01
Mining giant Rio Tinto has received clearance from the US Federal Trade Commission on the pending sale of its Jacobs Ranch coal mine to Arch Coal. The deal is expected to close within the next six weeks. Rio announced the $761m sale of Jacobs Ranch, which shipped 42.1 million tons of coal in 2008
Read moreFriday tips round-up: Rio Tinto, ENRC, SIG
21st Aug 2009 06:13
Rio Tinto's earnings were hit in the first half with big losses in aluminium and diamonds while iron ore and copper profits were scythed. But Rio is cutting $1 billion in costs from its aluminium portfolio and the iron ore JV should deliver more cost savings. If you have a patient long-cycle view of
Read moreLondon close: Blue chips at 10½-month high
20th Aug 2009 16:28
A brace of better than expected US data reinvigorated markets early afternoon Thursday, helping London close at it highest since early October. The Philadelphia Fed manufacturing index rose to +4.2 in August from -7.5 in July, while the Conference Board's index of leading economic indicators rose 0
Read moreLondon afternoon: Prices bubble over
20th Aug 2009 14:14
Equity prices came off the top over the lunch-time session but remain firmly in the blue, albeit in thin trade, largely due to the strength of miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lowe
Read moreBroker tips: Rio Tinto, WPP, TT Electronics
20th Aug 2009 13:01
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year, particularly in the area of debt reduction. The overall tone of the
Read moreBroker snap: Rio a viable alternative to BHP
20th Aug 2009 12:42
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year. Jackson is a lot more comfortable with the current level of financi
Read moreLondon midday: Retail sales give a boost
20th Aug 2009 12:10
July's retail sales figures have given a lift to an already buoyant equity market. Figures revealed sales grew 0.4% from June, putting the annual increase to 3.3%, the highest since May 2008. Economists had predicted a rise of just 0.2% for July following June's 1.2% gain and a 2.7% year-on-year imp
Read moreLondon open: Decent gains posted
20th Aug 2009 08:23
Decent gains posted by Footsie after the open with the early pacesetters financials, especially banks, and miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lower commodity prices amid tough econom
Read moreRio Tinto profits slump 50%
20th Aug 2009 07:19
Mining giant Rio Tinto saw profits fall by more than half in the six months to June 30 as it felt the impact of sharply lower commodity prices amid tough economic conditions globally. Pre-tax profits for the period totalled $4.39bn, compared with $9.82bn over the same period the previous year, as s
Read moreLondon pre-open: Rally to continue
20th Aug 2009 07:03
London is set to continue the firmer trend seen late in the afternoon session yesterday with sentiment boosted by Wall Street's strength yesterday and strong gains overnight in Japan and Hong Kong. City sources predict the FTSE 100 will open 45 points up from the previous close of 4,690. Mining gi
Read moreLondon afternoon: Lloyds provides some cheer
19th Aug 2009 14:14
The bears are back in command today with the blue-chip index in the red, though the size of the decline has been exacerbated by a number of index constituents trading in ex-dividend form. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British Americ
Read moreLondon midday: Shares stable at lower levels
19th Aug 2009 11:54
Equities are back on the slide again today with little hope of a boost from the other side of the Atlantic where the Dow Jones 30 is expected to open around 80 points lower. ENRC is a bright spot despite reporting a 63% slide in pre-tax profits for the first half of 2009. The dividend has been cut
Read moreLondon open: Ex-divs weigh
19th Aug 2009 08:20
Footsie is in the red following yesterday's good gains and despite decent performance on Wall Street overnight. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British American Tobacco when Jan du Plessis steps down from the position on 1 November. B
Read moreLondon pre-open: Weak open predicted
19th Aug 2009 07:37
Sellers are set to win out early Wednesday despite last night's strong performance on Wall Street. Futures prices indicate London's FTSE 100 will lose about 27 points at the start of trade. Former Bank of Ireland governor Richard Burrows is to be the new chairman of Lucky Strike maker British Ame
Read moreTechnical Analysis Snap: Rio gains on disposal
18th Aug 2009 17:07
Rio Tinto was given a minor boost on Tuesday when it received a $2bn offer for the majority of its Alcan Packaging business. As an opportunity to pay down its debt levels to more manageable levels it could not have been better timed. However, over the past few weeks Rio has been stuck in a broad
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