Markets slump on fears for Middle East February 23, 2011 The FTSE has slumped as the political turmoil in Libya and threat of contagion across the Middle East region sent commodities and stocks sliding. The FTSE 100 closed down 1.22 per cent to 5,923.53 in a difficult day’s trading. “It’s been a trying few days for world markets, and if the situation in Libya continues [...]
Nord Gold plans to raise £1bn in IPO January 27, 2011 RUSSIAN mining group Severstal’s gold unit Nord Gold is seeking up to £933m from a London float, that would see the firm valued at up to £2bn. The conglomerate announced it would spin out its mining arm, a gold producer focussed on emerging markets, earlier this month. Nord Gold is expected to begin trading in [...]
FTSE closes above 6,000 as traders pick miners and banks February 2, 2011 BANKS and miners pushed Britain’s top share index higher yesterday, lifted by further proof that the economic recovery in the United States is on track. The FTSE 100 index closed up 42.25 points, or 0.7 per cent, at 6000.07, extending Tuesday’s 1.6 per cent rise. The index has recovered from a sharp dip at the [...]
FTSE closes above 6,000 as traders pick miners and banks February 2, 2011 BANKS and miners pushed Britain’s top share index higher yesterday, lifted by further proof that the economic recovery in the United States is on track. The FTSE 100 index closed up 42.25 points, or 0.7 per cent, at 6000.07, extending Tuesday’s 1.6 per cent rise. The index has recovered from a sharp dip at the [...]
Good news boosts FTSE to 2008 levels January 12, 2011 BANKS and miners dominated the FTSE today, leading the index to another 31-month high as good news from Portugal’s bond sale boosted financial stocks, and miners tracked metals prices higher. Four FTSE 250 companies also posted double-digit gains as news that Gartmore agreed a £335.3m takeover deal by rival Henderson sent their shares higher. The [...]
Good news boosts FTSE to 2008 levels January 12, 2011 BANKS and miners dominated the FTSE today, leading the index to another 31-month high as good news from Portugal’s bond sale boosted financial stocks, and miners tracked metals prices higher. Four FTSE 250 companies also posted double-digit gains as news that Gartmore agreed a £335.3m takeover deal by rival Henderson sent their shares higher. The [...]
UK listing for Severstal gold mining group January 17, 2011 RUSSIAN steel company Severstal yesterday announced plans to float its Nord Gold unit in London to raise more than $1bn (£629m). It values the company at over $4bn. The premium listing of at least 25 per cent of the gold miner is set to be the biggest mining float since Nate Rothschild’s $1bn offering of [...]
UK listing for Severstal gold mining group January 17, 2011 RUSSIAN steel company Severstal yesterday announced plans to float its Nord Gold unit in London to raise more than $1bn (£629m). It values the company at over $4bn. The premium listing of at least 25 per cent of the gold miner is set to be the biggest mining float since Nate Rothschild’s $1bn offering of [...]
First Quantum acquires new Peruvian mine October 18, 2010 FIRST Quantum Minerals said it has paid C$460m (£285m) for Antares Minerals yesterday, in a move to diversify following the confiscation of its copper mine in the Democratic Republic of Congo. Antares’ principal asset is the Haquira copper project in southern Peru, which contains around 3.7m tonnes of copper equivalent. It also lies next to [...]
Investor fury over Syke’s mining role September 19, 2010 THE former chairman of Glaxo Smith Kline, Sir Richard Sykes, faces the possibility of being “blackballed” by the City in a row over a disputed African mining deal. Several investors are believed to be angry with Sykes over his role as senior independent director of Eurasian Natural Resources (ENRC). One City insider said there were [...]