Rio Tinto suspends senior executive over payments probe
9th Nov 2016 09:50
(ShareCast News) - Rio Tinto has suspended one of its senior executives after the company became aware of email correspondence relating to payments of $10.5m to a consultant providing advisory services on the Simandou project in Guinea. The miner launched an investigation into the matter led by exte
Read moreSavannah Resources upbeat on Mutamba mineral estimate
8th Nov 2016 10:44
(ShareCast News) - Savannah Resources said results of its mineral resource estimate of the Jangamo and Dongane deposits in the Mutamba project underscored it as one of the largest ilmenite-dominant, mineral sands accumulations on the east coast of Africa. The AIM-quoted outfit said this was a major
Read moreWednesday broker round-up
2nd Nov 2016 11:59
(ShareCast News) - Lancashire: JP Morgan keeps at neutral with a target price of 595p. Rolls Royce: UBS stays at neutral, 800p target. Rio Tinto: Barclays reiterates overweight with a 3200p target. Derwent London: Goldnman Sachs reiterates buy with a 3035p target. TUI AG: UBS reiterates buy with
Read moreSector movers: Macquarie delivers boost for miners
31st Oct 2016 14:32
(ShareCast News) - Media and mining stocks paced gains at the start of the week. Advertising colossus WPP reported that quarterly revenues grew 23.4%, with over 15 percentage points of that growth rate coming from currency translation effects as the pound weakened. Indeed, LFL net sales growth was
Read moreRio Tinto signs non-binding deal to sell Simandou stake to Chinalco
28th Oct 2016 11:12
(ShareCast News) - Rio Tinto has signed a non-binding agreement to sell its entire stake in the Simandou project in Guinea to Chinalco. The heads of agreement sets out the proposed principal terms of the sale with the aim of signing a binding agreement within six months. Rio Tinto will receive paym
Read moreRio Tinto launches $3bn bond buyback
26th Sep 2016 15:44
(ShareCast News) - Rio Tinto has launched a $3bn bond-buyback plan as the miner looks to use its put its cash to use. Following its $4.5bn buybacks earlier in 2016, Rio Tinto has offered for redemption roughly $1.5bn of its 2017 and 2018 US dollar-denominated notes and begun cash tender offers to p
Read moreMiners extend rally after bullish Rio Tinto comments on China, copper
20th Sep 2016 10:24
(ShareCast News) - Mining companies extended their recent gains and lifted the market after bullish comments from sector titan Rio Tinto's chief executive about commodity prices and Chinese demand. Talk of an "inflection point" for both commodity prices and the Chinese economy as a whole followed re
Read moreSector movers: Miners and oil service firms pace gains
19th Sep 2016 16:22
(ShareCast News) - Miners were pushed higher by rising prices for metals and positive comments from some top brokers. Contributing to the price action, analysts at Credit Suisse bumped up their 2017 price projections for thermal and coking coal, from $55 and $94 per tonne to $60 and $119, respective
Read moreCommodities: Crude futures give back previous session's gains, coal jumps
9th Sep 2016 19:31
(ShareCast News) - The commodity complex was almost uniformly awash in red as traders reassessed the latest US oil inventory data and the greenback gained amid as expectations for tightening by the US central bank moved moderately higher again. Front month West Texas Intermediate crude oil futures w
Read moreRio Tinto shares rise on RBC upgrade
8th Sep 2016 09:36
(ShareCast News) - Rio Tinto shares gained on Thursday as RBC Capital Markets raised its rating on the stock to 'outperform' from 'sector perform' and lifted the target price to 3,400p from 2,200p. RBC said Rio provides the "most attractive valuation" in the sector and the "best in class growth". T
Read moreMonday broker round-up
5th Sep 2016 15:25
(ShareCast News) - BAE systems: Goldman Sachs reiterates buy with a target price of 671p. Morrison: Jefferies maintains buy with a 210p target. Compass Group: UBS keeps at neutral with a 1485p target. Rio Tinto: Macquarie reiterates outperform with a 2900p target. Cobham: Goldman Sachs keeps at n
Read moreSector movers: Mining, Big Oil race to the top
26th Aug 2016 17:53
(ShareCast News) - Mining raced to the top of the leaderboard on Friday, boosted by an initial burst of volatility in global capital markets after Yellen's speech that saw the US dollar dip and commodity prices gain. Nevertheless, just after the closing bell in London rang US short-term rates change
Read moreLondon close: Blue-chip miners, banks push FTSE higher as house builders fly
23rd Aug 2016 15:58
(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that
Read moreTuesday broker round-up
23rd Aug 2016 09:19
(ShareCast News) - Ithaca Energy: Barclays reiterates underweight with a target price of 70p. Mediclinic: JP Morgan maintains neutral with a 1160p target. Premier Oil: Barclays reiterates overweight with a 100p target. South 32: Jefferies reiterates hold with a 110p target. Mondi: Citigroup keeps
Read moreMonday broker round-up
22nd Aug 2016 09:09
(ShareCast News) - William Hill: Barclays reiterates overweight with a target price of 340p. Anglo American: JP Morgan maintains overweight with a 1100p target. Rio Tinto: Macquarie reiterates outperform with a 2900p target. Admiral Group: Berenberg reiterates underweight with a 1746p target. Eas
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