Rio Tinto re-opens Kitimat aluminium smelter after modernisaton
8th Jul 2015 07:33
Rio Tinto has re-opened its Kitimat aluminium smelter in Canada following an extensive modernisation, which the miner says will fundamentally transform its performance. The company said the modernisation will increase production capacity by 48% and result in Kitimat becoming one of the lowest-cost s
Read moreEuropean basic resources stocks take a hit; Glencore touches lowest level since 2011 IPO
7th Jul 2015 16:04
European basic resources took a hit on Tuesday, with the Stoxx Europe 600 index for the sector down 3.6% as metals prices dropped across the board. Base and precious metals were firmly in the red, with gold, silver, copper, nickel, and zinc down between 1 and 6%, hit by the dollar, which strengthene
Read moreFTSE 100 movers: RBS hit by mortgage bond allegations, Vodafone by ML note
3rd Jul 2015 13:34
UK stocks inched lower on Friday, as investors continued to fret in the run up to Sunday's Greek referendum. As of 14:30 BST, the FTSE 100 was trading 0.5% lower at 6,595, led by Vodafone after a negative note on the telecoms giant by Merrill Lynch, which told clients it felt the stock's recovery re
Read moreSector movers: Telcos, natural resources stocks lead London market lower
3rd Jul 2015 10:46
Telecommunications and natural resources stocks led the London market lower on Friday, ahead of the Greek bailout referendum on Sunday. The blue chip FTSE 100 closed down 0.67% or 44.69 points at 6585.78 as the sell-off in mining stocks continued with base metals prices sliding yet again after a bri
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreFTSE 100 movers: Travel stocks rebound, but supermarkets dip on Kantar data
30th Jun 2015 13:06
UK stocks extended losses on Tuesday, as the recovery in travel stocks was offset by weakness in supermarkets and miners. As of 14:30 BST, the FTSE 100 was trading 0.6% lower at 6,583. Travel stocks including TUI, Easyjet and IAG rebounded from Monday's losses, which followed disruption to tourism
Read moreLondon midday: Stocks pare losses as investors hope for last-minute Greek deal
30th Jun 2015 11:05
UK stocks were trading in the red again on Tuesday, but had bounced off their lows by lunchtime as investors digested the latest news flow from Greece. The FTSE 100 was trading 0.6% lower at 6,583.15 by midday, having bounced off an intraday low of 6,540.52 early on. The index has not closed below t
Read moreLondon open: FTSE drops to January lows on Grexit fears
30th Jun 2015 08:48
UK stocks were trading at levels not seen since the start of the year on Tuesday morning as fears about a Greek exit from the Eurozone intensified. With Greece's current bailout set to expire on the same day that Athens faces a debt repayment to the IMF, investors were once again scaling back their
Read moreLondon pre-open: Stocks to extend drop as Greek crisis deepens
30th Jun 2015 07:40
UK stocks are set to drop further on Tuesday morning after finishing at a five-month low the previous session with Greece set to default on a debt repayment to the IMF. After failing to secure a funding deal with creditors, Athens has effectively ran out of time to come up with the cash to repay the
Read moreTuesday newspaper round-up: Greece, Rio Tinto, UK consumer confidence
30th Jun 2015 07:19
European Council president Donald Tusk sent a letter to Greek prime minister Alexis Tsipras late on Monday, denying the latter's request for reconsidering a bailout extension, reports the Financial Times. Tusk said: "After consultations with leaders, in the absence of new elements, I see no willingn
Read moreFTSE 100 movers: Bunzl dips on slower growth, miners extend losses
23rd Jun 2015 13:28
London markets continued to rebound on Tuesday, as better-than-expected economic data, positive broker sentiment and renewed optimism on Greek negotiations buoyed stocks. As of 14:15 BST, the FTSE 100 was trading 0.3% higher at 6,846. Distribution and outsourcing business Bunzl disappointed with a
Read moreTuesday broker round-up
23rd Jun 2015 08:03
Acacia Mining: Morgan Stanley keeps at equalweight, raises target to 285p from 251p. BHP Billiton: Morgan Stanley stays at equalweight and lifts target to 1,250p from1,150p. Anglo American: Morgan Stanley reiterates underweight and lowers target to 850p from 920p. Antofagasta: Morgan Stanley still
Read moreSavannah Resources shares rocket on Rio Tinto joint venture in Mozambique
22nd Jun 2015 08:11
Industrial metals group Savannah Resources doubled in market value on Monday after the AIM company entered into a joint venture agreement with mining giant Rio Tinto in Mozambique. Savannah's subsidiary AME East Africa has struck a deal with Rio to combine its adjacent Mutamba, Dongane and Jangamo h
Read moreSector movers: Miners retreat as London market just about stays in positive territory
19th Jun 2015 16:18
Greece continued to hound investor sentiment on Friday with mining stocks in general retreat, as the London market just about remained on positive ground. The blue chip FTSE 100 index closed up a mere 2.57 points or 0.04% at 6,710.45 with miners in general retreat from the previous session's high. W
Read moreFTSE 100 movers: Tobacco stocks surge on broker comments, miners lower
16th Jun 2015 12:58
London markets hit a five-month low on Wednesday, driven by continued Greece concerns, a sell-off in Chinese markets and weakness in the mining, construction and technology sectors. As of 14:00 BST, the FTSE 100 was trading 0.42% lower at 6,683. British American Tobacco and Imperial Tobacco led the
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