Rio Tinto promises "sustainable cash returns" for shareholders in 2015
28th Nov 2014 07:11
Diversified mining giant Rio Tinto has promised investors that "sustainable cash returns" will be delivered next year, as it highlighted its commitment to capital discipline and shareholder value. At an investor seminar in Sydney, the company said that going forward it would only focus on the projec
Read moreFTSE 100 movers: Supermarkets fall amid Campylobacter outrage, energy stocks drop
27th Nov 2014 15:24
The share price of UK supermarket chain Sainsbury was under pressure on Thursday after Shore Capital downgraded its rating from 'hold' to 'sell', saying investors should expect a "material contraction in profitability". The broker said it sees "few attractions in holding Sainsbury's shares". It expe
Read moreRio Tinto plans expansion of Canadian diamond mine
27th Nov 2014 07:56
Rio Tinto has approved the US$350m development of a fourth kimberlite pipe at its 60%-owned subarctic Canadian diamond mine, Diavik. Development of the A21 pipe is expected to take four years, with diamond production expected for late 2018. Production will provide an important source of incremental
Read moreMerger of Rio Tinto and Glencore is inevitable, says UK banker
25th Nov 2014 10:15
Glencore is inevitably set to takeover Rio Tinto to create the world's largest mining group, according to sector-merger expert Ian Hannam. "If not today, this deal will happen sometime in the near future," said Hannam, a former J.P. Morgan Chase & Co. dealmaker and commodity-merger expert, told more
Read moreTuesday tips round-up: Petrofac, Miners
25th Nov 2014 07:12
As an investment alternative Petrofac is fit for purpose, if you're a gambler of course. Yes, there is the decline in the oil price to contend with, but the root of the problem lies in its energy services division, which was supposed to be the engine for growth. An integral part of its business mode
Read moreSector movers: Mining stocks rally on Chinese stimulus, but defensives fall
21st Nov 2014 15:20
A surprise interest-rate cut in China saw equity markets surge on Friday with cyclical mining stocks benefiting and defensive stocks feeling the brunt from an increase in risk appetite. Cyclical sectors are those that are closely and positively correlated to economic activity and, in the case of the
Read moreFTSE 100 movers: Miners jump as China cuts interest rates, oil stocks rise
21st Nov 2014 15:03
Mining stocks were dominating the risers list on the FTSE 100 on Friday after China's central bank surprised with an interest-rate cut in an effort to boost growth, raising hopes that the top metals consumer will be able to avert a hard landing. Anglo American, Fresnillo, BHP Billiton, Rio Tinto, An
Read moreLondon midday: UK stocks surge on PBoC stimulus, ECB hopes
21st Nov 2014 12:00
UK stocks jumped on Friday as resources shares raced ahead after China's central bank surprised the market with its first interest-rate cut in two years in an effort to boost growth. After falling for the last two sessions, the FTSE 100 was up 0.8% at 6,733 by midday with the heavyweight mining and
Read moreLondon open: Oil and mining stocks push FTSE higher early on
21st Nov 2014 08:35
The UK stock market rebounded on Friday morning after two days of declines, as mining shares recovered after recent losses. Concerns about slumping iron-ore prices - currently trading at five-year lows - and slowing growth in China weighed heavily on the heavyweight resources sector in London on Thu
Read moreSector movers: Miners sideswiped as Chinese manufacturing stagnates
20th Nov 2014 14:32
UK-listed mining stocks were bearing the brunt of the selling pressure on Thursday as disappointing economic data from across the globe - China in particular - hit market sentiment. Resource shares, often sensitive to news-flow from top metals user China, took a hit when it emerged that the nation's
Read moreFTSE 100 movers: Miners hit by weak data, but Babcock and Johnson Matthey jump
20th Nov 2014 14:00
Mining stocks were suffering steep losses on Thursday as a wave of disappointing economic data prompted investors to scale back their appetite for risk. Figures from top metals consumer China in particular were weighing on sentiment, as its manufacturing sector stagnated in November. Rio Tinto, Angl
Read moreLondon midday: UK stocks fall as global PMI data dampens sentiment
20th Nov 2014 11:45
The UK stock market slumped on Thursday as a wave of disappointing economic data and speculation about a looming interest-rate hike in the States prompted investors to tread cautiously. London's FTSE 100 was down 0.7% at 6,649 by midday, with the heavyweight mining sector providing a drag as figures
Read moreLondon open: Manufacturing PMIs, FOMC minutes push UK stocks lower
20th Nov 2014 08:31
Weak economic data from China and the Eurozone and a hawkish set of Federal Reserve minutes pushed UK stock markets lower on Thursday morning. The FTSE 100 in London was trading down 0.3% at 6,675 in early deals. The preliminary HSBC purchasing managers' index (PMI) for Chinese manufacturing releas
Read moreLondon close: Upbeat company and economic news buoys stocks
18th Nov 2014 17:06
London shares closed comfortably in positive territory on Tuesday on upbeat economic news and strong corporate results. The FTSE 100 Index closed 37.16 points ahead at 6709.13 as UK house prices reached a new high in September, according to data from the Office of National Statistics (ONS). The ONS
Read moreLondon midday: Stocks hold slightly lower as Quindell craters
17th Nov 2014 12:20
UK stocks were still registering small losses come midday, weighed down by negative references out overnight from Asia, despite which miners were holding at the top of the leader board. As of 13:14 the Footsie was lower by 13 points to 6,640. Japan´s GDP contracted at a 1.6% annualised rate in the
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