FTSE flat as investors eye key US jobs data February 3, 2012 THE FTSE was flat in early trading as investors awaited key US jobs data due out later. US non-farm payrolls are forecast to rise by 150,000 after a 200,000 increase in December, while the unemployment rate was expected to remain static at 8.5 per cent. On the domestic data front the UK service industry picked [...]
FTSE hits six-month high fuelled by Greek deal February 13, 2012 The FTSE 100 climbed 0.9 per cent to a six-month high of 5,905.7 as investors’ confidence was buoyed by Greek politicians finally approving a new set of austerity measures. However, the move triggered civil unrest on the streets of Athens with the most violent clashes since the country’s disastrous financial situation was laid bare. The [...]
Glencore barred from ENRC bid for six months June 15, 2011 Glencore will be barred from bidding for embattled miner ENRC for six months under UK takeover rules, after the commodities trader said it was not actively considering a bid. Glencore, the world’s largest diversified commodities trader, said on Wednesday that comments to analysts and reporters during its maiden quarterly results presentation on Tuesday had subjected [...]
Glencore barred from ENRC bid for six months June 15, 2011 Glencore will be barred from bidding for embattled miner ENRC for six months under UK takeover rules, after the commodities trader said it was not actively considering a bid. Glencore, the world’s largest diversified commodities trader, said on Wednesday that comments to analysts and reporters during its maiden quarterly results presentation on Tuesday had subjected [...]
EIB calls halt to Glencore finance May 31, 2011 THE European Investment Bank (EIB) has suspended new financing to Glencore over concerns about the mining giant’s alleged tax avoidance in Zambia. The bank, which is the European Union’s financing arm, had already agreed to lend $50m (£30 million) to Glencore to renovate a smelter and reduce sulphur dioxide emissions at its Mopani Copper Mines [...]
FTSE up as Greek endgame arrives February 9, 2012 The FTSE 100 crawled up this morning as investors braced themselves for an expected decision on a Greek debt deal and the prospect of the Bank of England pumping in another £50bn into its quantitative easing programme. Greek officials said pension cuts were the sticking point in talks which have lurched from one crisis point [...]
Tips to take away from the Ruspetro flotation January 23, 2012 THE successful flotation of Ruspetro, the Russian oil and gas explorer, is being looked on by many in the City as an opportunity to finally get a moribund IPO market off the ground. It’s the first main market listing of the year and it follows a period during which only the most courageous or crazy [...]
Disappointing float debut for Glencore May 19, 2011 GLENCORE shares closed flat yesterday after the launch of conditional trading in the commodities trader. It now has a value of $61bn (£37bn) after raising $10bn in the second-biggest float in London’s history. The company’s owners had hoped for a price rise of five to ten per cent on Glencore’s first day of trading, but [...]
Glencore stock starts trading May 18, 2011 CONDITIONAL trading kicks off in the biggest float in London’s history this morning, with newly issued shares of commodity giant Glencore expected to open at a price of 530p. That would be precisely in the middle of the 480-580p price range it set before its investor roadshow. The price values the company at $60.1bn or [...]
Glencore stock starts trading May 18, 2011 CONDITIONAL trading kicks off in the biggest float in London’s history this morning, with newly issued shares of commodity giant Glencore expected to open at a price of 530p. That would be precisely in the middle of the 480-580p price range it set before its investor roadshow. The price values the company at $60.1bn or [...]