Rio Tinto launches debt buy-back programme
7th Jun 2016 16:55
(ShareCast News) - Rio Tinto launched its second debt buy-back programme in as many months on Tuesday. The global mining group offered to repurchase up to $3bn of debt maturing in 2018, 2020 and 2022, but with priority having been assigned to the shortest of those maturities. The deadline to take-u
Read moreFTSE 100 movers: Mining megalodons rise with metals prices as Brexit brakes housebuilders
6th Jun 2016 15:32
(ShareCast News) - Mining megalodons dominated the blue-chip winners' ladder as they advanced in correlation with firming precious and industrial metals prices, supported by Coca-Cola HBC's fizz higher. Anglo American led the pack by a good distance as it stacked on a hearty 11.25%. It was followed
Read moreMonday broker round-up
23rd May 2016 18:04
(ShareCast News) - Royal Mail: RBC upgrades to sector perform with a 525p target. Weir: HSBC upgrades to buy with a 1450p target. Sports Direct: Goldman Sachs downgrades to neutral with a target price of 400p. Easyjet: Macquarie reiterates outperform with a target of 2100p. ICAP: Credit Suisse re
Read moreFTSE 100 movers: Anglo leads and British Land plays catch up
16th May 2016 12:04
(ShareCast News) - The FTSE 100 had crawled to positive territory with around an hour left of Monday's session, helped by a positive start across the Atlantic. Miners led the charge among the blue chips, taking seven of the top ten spots as some market commentary suggested that disappointing Chinese
Read moreDirector dealings: Rio Tinto's Professor L'Estrange doubles stake
11th May 2016 16:00
(ShareCast News) - Rio Tinto non-executive director Michael L'Estrange almost doubled his stake in the mining heavyweight with a AU$44,590 (£23,000) purchase on Wednesday. Professor L'Estrange, formerly Australia's high commissioner to the United Kingdom and ex secretary of the Department of Foreign
Read moreFTSE 100 movers: Property drags on buoyant mining
11th May 2016 13:32
(ShareCast News) - The FTSE was underwater but working it was back to dry land late on Wednesday, as the index's raft of heavyweight miners were buoyed by commodity prices. With an hour's trading left in the day, the blue chip index was down 0.1% at 6,150, with property developers causing the bulk o
Read moreIndustrial commodity prices headed lower, analysts say
10th May 2016 10:29
(ShareCast News) - Bulk commodity prices might be set to continue to head lower, analysts at Citi and Credit Suisse said. Concerns surrounding China had emerged again, analyst David B.Wilson said in a research note sent to clients. A boost to the country's manufacturing sector had come with a price
Read moreBasic resource shares pumelled, Canadian wildfire blaze slows advance
9th May 2016 19:03
(ShareCast News) - Mining and oil stocks led declines at the start of the week on the back of weaker than expected data out of Asia's largest economy and after Chinese regulators warned they might clamp down on speculation further. On Sunday, China's customs administration said exports and imports s
Read moreMonday broker round-up
9th May 2016 15:26
(ShareCast News) - Easyjet: RBC upgrades to outperform with a 1500p target. Restaurant Group: UBS downgrades to neutral with a 305p target. Burberry: Barclays keeps at equal-weight with a 305p target. Smith & Nephew: Berenberg reiterates buy with a target of 1300p and Barclays stays at overweight
Read moreRio Tinto to press ahead with $5.3bn Mongolian mine expansion
6th May 2016 08:05
(ShareCast News) - Rio Tinto said it was pressing on with the $5.3bn expansion of its Oyu Tolgoi copper and gold mine in Mongolia. The development of the underground mine will start in mid-2016, Rio said in a statement. First production from the operation, which has an average copper grade of 1.66%,
Read moreCommodities: Saudi Arabia hikes price for oil to Asia, Rio chief cautious
5th May 2016 18:41
(ShareCast News) - Crude oil futures ended the session higher after Saudi Arabia increased its prices for oil cargoes heading to Asia in June by the most since April 2015. State-owned Saudi Aramco lifted its selling price for Arab Light oil by $1.10 a barrel to 25 cents over the regional benchmarks
Read moreLarge-cap miners pace gains
28th Apr 2016 19:45
(ShareCast News) - Shares in large-cap mining groups paced gains on the top flight index after one of their number closed the sale of two of its Brazilian businesses, a possible indication that the rally in commodity prices had opened at least a window of opportunity to divest some of their assets.
Read moreRio Tinto to buy back $1.36bn in debt
28th Apr 2016 15:45
(ShareCast News) - Rio Tinto said on Thursday that it has priced an offer to buy back $1.36bn in debt, as it looks to cut debt amid the downturn in commodity prices. The company launched the cash tender offers targeting $1.5bn of its 2017 and 2018 notes on 21 April, saying it was "using its strong l
Read moreFTSE 100 movers: Miners and banks slump but Imperial gains on upgrade
25th Apr 2016 14:05
(ShareCast News) - London's FTSE 100 index was down 0.8% to 6,260.09 in afternoon trading, with miners pacing the decline. Heavily-weighted mining stocks were the worst performers as metals prices slipped, with Anglo American, BHP Billiton, Rio Tinto and Glencore all firmly on the back foot. Standa
Read moreFTSE 100 movers: Mining bears outweigh construction bulls
22nd Apr 2016 13:54
(ShareCast News) - London's blue chips were on the back foot as the week came to a close, weighed down as the miners continued to lose ground for a second session and despite oil prices launching a new move higher. After the European Central Bank's tough-talking stance on Thursday, miners were being
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