London midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreLondon close: Good gains for FTSE 100
5th Jun 2009 17:00
Footsie finished with good gains Friday as buoyancy in the mining sector and economic optimism from the US cancelled out the effects of continued political uncertainty here. Mining stocks were at the forefront of the advance on the back of strong metal prices and excitement at closer ties between h
Read moreLondon afternoon: Wall Street boost for London
5th Jun 2009 14:22
London's rise has been given extra impetus by expectations of a strong opening on Wall Street in the wake of better than expected US first-time jobless claims. Mining stocks continue to be at the forefront of the advance on the back of strong metal prices and excitement at closer ties between heavy
Read moreComment: Price of loyalty too high for Rio
5th Jun 2009 13:58
"Very disappointed" must be an understatement for how Chinalco feels after Rio Tinto finally did what its shareholders had been demanding and scrapped their contentious refinancing agreement. Rio will have to pay the Chinese firm $195m, but that sum was firmly put into context by the £3bn jump in
Read moreSector movers: Rio leads mining rally
5th Jun 2009 13:45
The mining sector is posting big gains after investors gave the thumbs up to Rio Tinto's decision to scrap its controversial $19.5bn refinancing deal with Chinese firm Chinalco. Rio has instead launched a $15.2bn rights issue and a merger of its West Australia iron ore assets with those of bitter ri
Read moreFTSE 100 movers: Rio and BHP Billiton soar
5th Jun 2009 12:40
Rio Tinto dominated the market after it scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco. Instead it launched a $15.2bn rights issue and agreed to merge its West Australia iron ore assets with BHP Billiton's. Institutional investors welcomed the decision, which has be
Read moreLondon midday: Upward trend continues
5th Jun 2009 12:11
Blue-chips shares continue to push ahead, led by minders in the wake of the decision by Rio Tinto to change tack with regards to its fund raising plans. Rio Tinto has capitulated to shareholder pressure and ditched its controversial $19.5bn refinancing deal with state-owned Chinese aluminium produc
Read moreTechnical Analysis: Copper and commodities continue to rise
5th Jun 2009 10:35
The rally in commodity prices since the turn of the year has continued to raise expectations around the globe of an imminent economic recovery. Certainly there have been a number of indicators that have turned positive on the major commodity indices over the past couple of weeks. Mining shares are
Read moreLondon open: Miners buoyant as Rio raises $15bn
5th Jun 2009 08:56
A buoyant mining sector sent Footsie sharply higher in early dealings as investors rejoiced as Rio Tinto launched a $15.2bn rights issue. The cash call follows confirmation this morning that Rio Tinto had scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco. The deal also
Read moreLondon pre-open: Miners to take centre stage
5th Jun 2009 07:38
The mining sector is likely to be in focus in early dealings after Rio Tinto launched a $15.2bn rights issue. Footsie is expected to open up 35 points. Rio Tinto this morning confirmed it had scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco and instead launched a $15.2
Read moreRio Tinto launches $15.2bn rights after dumping Chinalco
5th Jun 2009 07:11
Rio Tinto shares soared as it scrapped its controversial $19.5bn refinancing deal with Chinese firm Chinalco and instead launched a $15.2bn rights issue and a merger of its West Australia iron ore assets with those of bitter rival BHP Billiton. Institutional investors angry at the Chinalco agreemen
Read moreFriday newspaper round-up: Rio launches $15.2bn rights, ties with BHP
5th Jun 2009 06:15
Rio Tinto launched a deeply-discounted $15.2bn rights issue, scrapped a proposed $19.5bn tie-up with China's Chinalco and struck a joint venture deal with arch rival BHP Billiton in a string of announcements on Friday that will transform the Anglo-Australian mining group's long term future, the FT r
Read moreLondon close: Rio bombshell pulls back Footsie
4th Jun 2009 17:03
Rio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreRio rights issue expected as Chinalco deal falters
4th Jun 2009 15:10
Miner Rio Tinto is rumoured to be mulling a $15bn rights issue as the refinancing deal with Chinese state-owned aluminium firm Chinalco is standing on the brink of collapse. "Rio Tinto notes press speculation. Rio Tinto is pursuing a range of options, some of which are at an advanced stage, for max
Read moreFTSE 100 movers: Rio deal uncertainty dominates day
4th Jun 2009 15:03
Rio Tinto dominated trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by nearl
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