Glencore may switch reporting June 30, 2011 GLENCORE, the newly-listed commodities group that released its maiden quarterly results two weeks ago, may switch to reporting half yearly, analysts have said. Some of the leading investment banks who worked on Glencore’s float began their coverage on the commodities giant yesterday. Analysts at Credit Suisse said: “The company hopes to move from quarterly to [...]
Ziggo brings a ray of sunshine to IPO market March 12, 2012 ALONG with the sunshine came a hint of optimism about the future of the faltering IPO market yesterday as the Dutch cable group Ziggo revealed there was sufficient demand for its upcoming £550m share issue. Private equity owners Cinven and Warburg Pincus, advised by STJ Advisors, are selling 35m secondary shares with guidance of €16.50 to [...]
Glencore loses auction June 16, 2011 Japanese trading house Itochu has pipped Glencore in an auction to buy a holding in Drummond’s Colombian coal operations. In a blow to the newly-listed FTSE 100 firm, Itochu successfully bid $1.5bn to beat Glencore’s offer for a 20 per cent stake in the plants and a chance to profit from Asia’s growing demand for [...]
FTSE pegged back by China growth fears March 5, 2012 Uncertainty over global growth dragged on investor sentiment in early trading along with a a renewed surge in oil prices. Brent crude climbed back up near $124 a barrel as another refiner announced cuts to Iranian imports, feeding fears of a supply crunch as the West presses ahead with sanctions on Tehran. Copper prices, however, [...]
GLENCORE’S GLASENBERG SHOWS HIS SOLIDARITY July 3, 2011 GLENCORE boss Ivan Glasenberg is notoriously elusive – but one event that persuaded the commodities billionaire to make a rare public appearance was a high-level mining industry dinner at Lord’s Cricket Ground in St John’s Wood. Glasenberg was no doubt drawn to the fifth London event of The Melbourne Mining Club last week by the [...]
FTSE sees boost from M&A muted by outlook warnings February 2, 2012 BRITAIN’S top share index paused yesterday after recent sharp gains with a rally in miners on the prospects of a big sector merger counterbalanced by warnings from bluechips of a tough year ahead. The FTSE 100 finished 0.1 per cent, or 5.35 points, higher at 5,796.07, retreating from a six-month intra-day high of 5,809.82 after [...]
Glencore seals agreement to buy £295m Peruvian copper assets July 18, 2011 COMMODITIES giant Glencore confirmed its agreement to acquire $475m (£295m) of copper assets in Peru yesterday. The deal was struck between its subsidiary Glencore International and Hong Kong-based CST Mining and will see Glencore take a 70 per cent stake in Marcobre, the owner of the Mina Justa copper project in southern Peru. The takeover [...]
It’s tough at the top: world’s richest fight to keep wealth March 7, 2012 MEXICAN telecoms magnate Carlos Slim Helu has kept his spot as the world’s richest man for the third year running, according to the Forbes list of billionaires out yesterday. But his family fortune slid $5bn to $69bn over the year, closing the gap between him and Microsoft founder Bill Gates, who remains in second place [...]
It’s tough at the top: world’s richest fight to keep wealth March 7, 2012 MEXICAN telecoms magnate Carlos Slim Helu has kept his spot as the world’s richest man for the third year running, according to the Forbes list of billionaires out yesterday. But his family fortune slid $5bn to $69bn over the year, closing the gap between him and Microsoft founder Bill Gates, who remains in second place [...]
Weir stock is most shorted on FTSE 100 February 15, 2012 ENGINEERING firm Weir has become the most shorted stock on the FTSE 100, as investors bet the company’s share price will be dented by weak demand for specialist mining equipment. Information provided by Data Explorers showed that 13.48 per cent of shares are out on loan – double the amount that were shorted only three [...]