Sector movers: Mining stocks sink as markets extend drop
11th Dec 2014 14:31
Not even the hope of more stimulus in China could help mining stocks on Thursday, as shares in the sector tanked on the back of global slowdown concerns. Miners were bearing the brunt of the fourth day of losses for London's equity market after the news that banks took up fewer-than-expected loans f
Read moreLondon open: Stocks hit by weak data from Japan, China and Germany
8th Dec 2014 09:19
A steeper-than-expected recession in Japan and poor data from China and Germany dampened market sentiment on Monday, with UK stocks starting the week on the back foot. London's FTSE 100 was trading 0.5% lower at 6,712 early on after closing out last week at 6,742.84, its highest close since 21 Novem
Read moreRio Tinto could follow trend and spin-off Alcan, says Citigroup
5th Dec 2014 11:39
Citigroup has said that a potential spin-off of Rio Tinto's Canadian aluminium business could be good for the business. Brazilian mining group Vale announced this week that it is looking to float its base-metals division on the stock market in Toronto to "unlock" value, possibly selling a 30-40% sta
Read moreRio Tinto CEO says Glencore a "poor strategic match"
5th Dec 2014 09:16
Rio Tinto's chief executive Sam Walsh has attempted to ward off a new approach from smaller rival Glencore, but admitted he is not pursuing a major acquisition to beef up its defence from a potential takeover. The mining groups were in discussions in July regarding a potential merger, but Rio decide
Read moreSector movers: Mining and oil stocks drop as ECB holds off on stimulus
4th Dec 2014 15:09
Cyclical sectors such as mining and oil were the worst performers of the day on Thursday as the wider stock market weakened in the absence of stimulus measures from the European Central Bank (ECB). The ECB held off from making a move at its meeting, saying instead that it would look at injecting sti
Read moreFTSE 100 movers: Travel companies fly higher as miners sink
4th Dec 2014 14:45
Travel tour operator TUI Travel saw its shares rise, as the company met expectations with a 4% rise in annual profits as the company painted a positive outlook for the winter and upcoming summer season ahead of its planned merger with parent group TUI AG. Budget airline Easyjet also flew high aft
Read moreTuesday tips round-up: Iron ore miners, Aberdeen Asset Management
2nd Dec 2014 09:27
Iron ore miners may be facing much the same dilemma as OPEC is, when trying to force high-cost producers out of the market. Although plummeting crude prices may force some smaller tight oil producers to stop producing for a time, the well infrastructure and technology, once developed, will remain. I
Read moreLondon midday: Crude stabilises but oil stocks continue to slide
28th Nov 2014 11:43
The UK stock market dropped on Friday as shares in the energy sector dropped after the recent slump in crude on concerns about a global oversupply of oil. Oil producers and energy services stocks were extending losses made the previous session with crude prices set to register their steepest weekly
Read moreLondon open: FTSE 100 falls as energy stocks extend losses after OPEC meeting
28th Nov 2014 08:41
Despite already having plunged the previous session, stocks in the energy sector were under further selling pressure on Friday in the aftermath of the OPEC meeting, pushing the FTSE 100 firmly into the red. The Organization of Petroleum Exporting Countries decided on Thursday not to scale back their
Read moreRio Tinto lifts coal reserve estimates in Hunter Valley
28th Nov 2014 07:37
Rio Tinto has significantly increased its estimate for managed thermal coal reserves and resources in the Hunter Valley of New South Wales, Australia. After analysing historic data and updating different resource estimation methods, Rio Tinto Coal Australia has lifted its ore reserves estimate in th
Read moreRio 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
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