Corporate governance concerns persist October 11, 2011 THERE were more than a few raised eyebrows in the City yesterday, after ENRC said it would snap up a thermal coal producer for $600m. Analysts liked the deal, but investors did not, sending the miner’s shares falling 2.3 per cent to 625p. Perhaps they felt uneasy that the coal producer is owned by ENRC’s founding [...]
Kazak miner plots to oust chairman October 2, 2011 HEADHUNTERS have been called in to find a new chairman for the Eurasian Natural Resources Company (ENRC), despite confirming the incumbent Johannes Sittard in the role in its corporate governance review last Wednesday. The FTSE 100 Kazakstan mining company last week said it was “fully supportive” of the board-level reshuffle that kept Sittard at the [...]
Why I disagree with Ken Olisa on listing rules November 21, 2011 ZHEZKAZGAN, Sverdlovsk, Pavlodar. Not names your average investor will have heard of, but all of them are places of operation in Kazakhstan and Russia for an ever-increasing number of companies from overseas that have become members of the prestigious FTSE 100 share index. This seemingly open door to natural resource companies from countries where corporate [...]
Why I disagree with Ken Olisa on listing rules November 21, 2011 ZHEZKAZGAN, Sverdlovsk, Pavlodar. Not names your average investor will have heard of, but all of them are places of operation in Kazakhstan and Russia for an ever-increasing number of companies from overseas that have become members of the prestigious FTSE 100 share index. This seemingly open door to natural resource companies from countries where corporate [...]
Russia miners to add weight to bluechips December 4, 2011 RUSSIA’s presence on the UK’s top share index will go up this Wednesday if two of its newly London-listed metals and mining groups are admitted in the quarterly changeover of its constituents. Evraz, the steelmaking group part-owned by Chelsea owner Roman Abramovitch, and Polymetal, Russia’s biggest silver producer, have each swapped their global depositary receipt [...]
FTSE up despite Europe summit concerns December 9, 2011 The UK’s top share index has closed higher as investors took the positives from the agreements at the European summit. Talk of potential Chinese investment in Europe and improving economic data in the US also lifted sentiment. While not the emphatic solution to the Eurozone’s two-year old debt crisis some had hoped for, EU countries [...]
FTSE up despite Europe summit concerns December 9, 2011 The UK’s top share index has closed higher as investors took the positives from the agreements at the European summit. Talk of potential Chinese investment in Europe and improving economic data in the US also lifted sentiment. While not the emphatic solution to the Eurozone’s two-year old debt crisis some had hoped for, EU countries [...]
Russian IPOs in spotlight as FTSE probes free float November 1, 2011 COMPANIES that float only a small proportion of their shares in London could be barred from FTSE stock indices in future under new proposals from the index group yesterday. FTSE is to consult on whether to make UK-based firms list at least 25 per cent of shares, rather than the current 15 per cent, to [...]
New listing rules and jitters over Europe pull FTSE down December 14, 2011 WEAKNESS in risk-sensitive commodity issues and banks dragged Britain’s FTSE 100 index lower yesterday, with concerns over the Eurozone debt crisis ratcheted up as Italy’s borrowing costs expanded to a record high. Italy had to pay 6.47 per cent on five-year bonds in an auction yesterday, up from a previous euro era record high of [...]
FTSE tumbles as doubts over Eurozone deal take their toll December 12, 2011 Britain’s FTSE 100 fell in light volume yesterday, with investors selling riskier banking and mining assets as analysts concluded that the lack of detail in a European deal on fiscal union left question marks over its long-term plausibility. London’s blue-chips fell 101.35 points, or 1.8 per cent, to 5,427.86, erasing Friday’s 0.8 per cent rise, [...]