Rio Tinto to buy back $1.5bn of near-term debt
21st Apr 2016 14:13
(ShareCast News) - Rio Tinto has begun to use its healthy levels of cash to pay off around $1.5bn of its near-term debt. The FTSE 100 miner said it had begun a cash tender offers to purchase any or all of its $1.75bn dollar-denominated 2017 bonds up to a value of $1.5bn, and if any of that amount re
Read moreJP Morgan stays at underweight on BHP, ups target price
21st Apr 2016 12:57
(ShareCast News) - BHP Billiton's reduced forecasts for iron ore production led JP Morgan to further trim its projections for output in 2017, but the broker continued to believe the miner's valuation premium was "difficult to justify". Australia-focused BHP cut its production guidance for fiscal yea
Read moreMiners and banks pace gains
20th Apr 2016 16:00
(ShareCast News) - Miners led on the upside throughout much of the session as some brokers weighed in with relatively upbeat assessments of the current market backdrop for the sector and industrial metals prices' continued their push higher. On Wednesday, it was Anglo American's turn at the top of t
Read moreWednesday broker round-up
20th Apr 2016 15:54
(ShareCast News) - Zoopla: Exane BNP Paribas reiterates neutral with a target price of 270p and Canaccord upgrades to buy with a 330p target. Ashmore: Barclays stays at underweight with a 250p target, Societe Generale downgrades to hold with a target price of 295p and Exane BNP Paribas downgrades to
Read moreRio Tinto reports strong first quarter production
19th Apr 2016 07:36
(ShareCast News) - Rio Tinto produced some positive production growth in the first quarter of 2016, it reported on Tuesday, with its iron ore and aluminium operations particular standouts. The FTSE 100 firm reported global iron ore shipments of 80.8 million tonnes, of which Rio Tinto's share was 64.
Read moreFTSE 100 movers: SABMiller higher, while Brexit risk drags housebuilders
15th Apr 2016 15:23
(ShareCast News) - The FTSE 100 was in the red on Friday afternoon, as investors reacted to slower growth in China, with lower oil prices and Brexit concerns also affecting the markets. SABMiller was among the leaders, after fellow brewing conglomerate Anheuser-Busch InBev agreed to create a ZAR 1bn
Read moreLondon pre-open: Stocks seen flat after muted Asia session
15th Apr 2016 07:32
(ShareCast News) - London stocks were set to open broadly flat on Friday following a muted session in Asia, after Chinese first quarter GDP met expectations. The FTSE 100 was seen starting five points lower than Thursday's close at 6,360. "Chinese Q1 GDP released Friday early AM slowed to slow to 6
Read moreRio Tinto and Sinosteel extend Channar joint venture
15th Apr 2016 07:09
(ShareCast News) - FTSE 100 mining firm Rio Tinto and Chinese state-backed Sinosteel Corporation announced the extension of their Channar Mining joint venture in Australia's Pilbara region on Friday. Rio's board said the joint venture extension, coupled with a separate agreement for Rio Tinto to sup
Read moreSector movers: Basic resource, bank stocks surge
13th Apr 2016 19:58
(ShareCast News) - A surge in basic resources and bank shares gave equity benchmarks around the world a leg up on Wednesday, following data out of the People's Republic of China which showed exports rising at their fastest pace in over a year. The DJ Stoxx 600 gauge of basic resource sector shares l
Read moreFTSE 100 movers: Anglo American up on mine sale, Mondi shunned
4th Apr 2016 14:08
(ShareCast News) - The FTSE 100 remained just above the waterline in afternoon trading, though it had pared back gains it made in the morning as investors digested fresh data showing continued expansion in UK construction activity in March. Miner Anglo American was one of the leading risers after it
Read moreWednesday broker round-up
30th Mar 2016 14:53
(ShareCast News) - Inmarsat: Berenberg upgrades to hold with a target price of 890p. Next: Investec downgrades to sell, 5250p target, Jefferies reiterates hold with a target price of 5100p, JP Morgan stays at neutral with a target of 6370p and HSBC keeps at hold, 6260p target. Glaxosmithkline: Citi
Read moreDeutsche Bank sees upside to European stocks, warns of unstable equilibrium
18th Mar 2016 10:28
(ShareCast News) - Dovish guidance from the US Federal Reserve reduces the risk that sovereign bond yields will rise in 'real' terms, which in turn should support European equities, including the likes of Rio Tinto, but tensions in credit markets and other segments of global capital markets could re
Read moreLondon pre-open: Stocks seen a little higher ahead of BoE announcement
17th Mar 2016 07:27
(ShareCast News) - London stocks are set to open a little higher on Thursday as investors digest the Federal Reserve's decision to stand pat on rates and look to the Bank of England's latest policy announcement. The FTSE 100 is seen starting 15 points higher than Wednesday's close at 6,190. The BoE
Read moreRio Tinto CEO Sam Walsh to retire in July
17th Mar 2016 07:14
(ShareCast News) - Rio Tinto chief executive Sam Walsh will retire from the business on 1 July 2016 and will be succeeded by the chief executive of the copper and coal division Jean-Sébastien Jacques, the company said. To ensure a smooth transition, Jacques will join the board and become deputy chie
Read moreSector movers: Antofagasta crushed after company abandons dividend
15th Mar 2016 16:56
(ShareCast News) - Miners came under renewed selling pressure as iron ore futures continued to come off the boil and ahead of the US central bank's policy meeting the next day, with the Bank of Japan's decision overnight to keep its policy settings unchanged - instead of delivering further stimulus
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