THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
BP boosts FTSE as miners, telecoms and banks surge July 30, 2009 BRITAIN’S top share index ended close to a seven-month high yesterday, as better-than-expected earnings from the likes of BT boosted sentiment, lifting miners, banks and telecoms firms. The FTSE 100 closed up 1.9 per cent, or 84.08 points at 4,631.61 points, the highest level since January 6. The index is up 9 per cent so [...]
BP boosts FTSE as miners, telecoms and banks surge July 30, 2009 BRITAIN’S top share index ended close to a seven-month high yesterday, as better-than-expected earnings from the likes of BT boosted sentiment, lifting miners, banks and telecoms firms. The FTSE 100 closed up 1.9 per cent, or 84.08 points at 4,631.61 points, the highest level since January 6. The index is up 9 per cent so [...]
Automatic for the people? June 30, 2009 THE best high-performance cars come with a manual gearbox, right? Well, not according to Mercedes-Benz. On the evidence of this car, their stance appears to be that machines can change gear more efficiently than humans. But where’s the fun in that? Having driven this car in automatic form, I was yearning to feel how it [...]
Rio Tinto sale helps pay off its Alcan debt July 6, 2009 MINING giant Rio Tinto boosted its cash position yesterday, selling its Americas food packaging company to US group Bemis $1.2bn (£740m). Rio said that $200m of the sale proceeds may be in the form of Bemis shares.Rio, which last week raised $15.2bn through a massively discounted rights issue, is looking to slash the debt it [...]
Anglo braced for more bids from abroad June 23, 2009 ANGLO AMERICAN’S share price recovered from initial losses yesterday on market speculation that China’s Chinalco and Brazil’s Vale could emerge as potential suitors and make a bid for the company. Investors had started to dump their Anglo shares, following its rebuttal of rival miner Xstrata’s all-share, nil-premium bid for it earlier this week. “We were [...]
FTSE gains on broad-based rally led by banks and miners July 20, 2009 A BROAD-BASED rally in the stock market saw Britain’s top share index recording gains for a sixth straight day, with banks leading the surge and commodity shares jumping on stronger crude oil and metal prices. The FTSE 100 index ended 54.87 points, or 1.3 per cent, higher at 4,443.62 — the highest close since 11 [...]
Rio’s UK cash call a success July 2, 2009 MINING giant Rio Tinto yesterday pulled off one of the biggest rights issues on record, after the British leg of its $15.2bn (£9.2bn) cash call was successful. The firm said 97 per cent of its British investors took up the world’s fifth biggest cash call ever. The dual-listed company – which is seeking to ease [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 13, 2009 FINANCIAL TIMES YANZHOU DIGS DEEP IN BID FOR FELIXChina’s largest takeover bid for an Australian company was formally launched yesterday when Yanzhou Coal Mining made a recommended cash offer for Felix Resources worth just over A$3.5bn (£1.78bn). The offer is pitched at A$16.95 a share, valuing Felix at A$3.33bn, but shareholders will also receive A$1 [...]