THE TIPSTER May 23, 2010 BHP BILLITON hosts its AGM on Monday. The decision by the Australian government to impose a 40 per cent tax on mining profits, the rise in the value of the dollar and the general slump in commodity prices has seen BHP Billiton’s shares fall nearly 23 per cent in less than a month. With the [...]
FTSE hit by German ban on shorting May 19, 2010 BRITAIN’S top shares fell steeply yesterday, as commodity-linked stocks and banks were hit by Germany’s attempt to stop speculators driving down the euro, bonds and share prices by limiting short-selling. The FTSE 100 closed down 149.26 points, or 2.8 per cent, at 5,158.08, having added 0.9 per cent on Tuesday, as Germany’s move shook markets [...]
The heat is on for the steel price this year May 19, 2010 THE price of industrial metals has been hit during the recent bout of market turbulence. But against this backdrop pressures have been building that could drive the price of steel higher again. The industrial metal, widely used for the production of infrastructure, is being bolstered by several factors. The first is supply and demand. Supply [...]
LISTED PRODUCT NEWS May 19, 2010 COOKING UP A WINNER AT ISHARES The ETF provider iShares launched a new educational campaign this week in novel fashion. If you were around the City earlier this week then you may have seen two chefs, former contenders on MasterChef no less, cooking up a storm to promote the benefits of ETFs. The chefs used [...]
French fancy May 18, 2010 PEUGEOT is targeting Audi TT, VW Scirocco, even Mini Cooper S buyers with its new 2+2 seater sports car. Even if you’re the kind of car buyer that usually allows your head to rule your heart the RCZ may still be the car for you. Not only do you get the fun of a sports [...]
BHP ready to compromise on mining tax May 17, 2010 BHP BILLITON yesterday said it is prepared to cut a deal with the Australian government over its plans to introduce a new mining tax. Jac Nasser, chairman of the Anglo-Australian miner told shareholders in a letter yesterday that the levy should only apply to new projects, not existing investments. The government also signaled it might [...]
FTSE hits two week high on stronger metal prices, but sentiment is fragile May 13, 2010 BRITAIN’S top stock index hit a two-week closing high yesterday as miners gained, tracking stronger metals prices, but persistent concerns about euro zone debt problems prompted investors to stay cautious. The FTSE 100 ended up 50.28 points, or 0.9 per cent, at 5,433.73, the highest close since 30 April. The blue chip index has gained [...]
Xstrata and BHP ditch Aussie expansion plans May 10, 2010 GLOBAL mining giants have scaled back their investment in Australia as the backlash against the government’s “mining tax” intensified. Xstrata suspended copper exploration in the state of Queensland, coal giant Peabody Energy cut its offer price for Macarthur Coal and BHP Billiton warned that approving key expansion projects would be difficult given the new tax. [...]
Banks boost FTSE after Euro bailout May 10, 2010 BRITAIN’S leading share index scored its biggest one-day per cent rise in nearly 18 months yesterday as the $1 trillion (£645bn) Eurozone rescue package doused concerns of EU debt defaults and further economic dislocation. Bank stocks, which plunged last week on their exposure to debts of Greece and other EU states, led the advance as [...]
Live and let drive… Bond-style May 5, 2010 FIRST: a confession. I probably should have told the good people at Lotus that I have a slightly unlucky history with James Bond. The first 007 film I ever saw was Moonraker. Dressed up smartly in my white broderie anglaise blouse, I sat with my family in a rather grand former theatre in Auckland, New [...]