Anglo American, Antofagasta, Glencore and Rio Tinto all see shares jump while BHP Billiton becomes latest FTSE miner to slash its dividend February 23, 2016 Some of the world’s biggest mining firms led the FTSE 100 above 6,000 yesterday, as rising commodity prices saw the beleaguered industry bounce back. All five of the index’s top risers were miners, with Glencore and Anglo-American recording double-digit gains and Rio Tinto and Antofagasta also rising sharply. Dual-listed BHP Billiton, which was last night [...]
At the close: FTSE 100 index closes down despite gains by Glencore, Antofagasta, ITV December 21, 2015 The FTSE 100 index closed down today, as losses from Associated British Foods (ABF) and Smith and Nephew were not compensated by gains at ITV, Glencore and Antofagasta. The UK's top blue-chip index closed 0.29 per cent down at 6,034 points ITV led the pack after it emerged Comcast's NBCUniversal was reportedly bidding to takeover [...]
Glencore share price rises as it unveils increases debt reduction and cuts spending December 10, 2015 Glencore shares rose 5.7 per cent to 87.75p per share this morning, as investors cheered its plans for more debt reduction and spending cuts. In a statement released ahead of its annual investor day, the commodities miner and trader said it was now targeting net debt of between $18bn (£11.9bn) and $19bn by the end of 2016, lower than the previous [...]
Mining stocks lead the FTSE 100 index lower as share prices of Anglo American, Glencore, BHP Billiton slump January 15, 2016 More January blues for miners (and it wasn't exactly a great 2015 for them), as they led the FTSE 100 index lower this morning. The UK's blue-chip index fell 2.44 per cent to 5,773 points in mid-afternoon trade, led lower by Anglo American and Glencore. The FTSE is setting itself up for a loss of over seven [...]
Glencore turns to Libyan oil to shore up balance sheet November 21, 2015 Glencore has clinched a deal to buy around half of the oil Libya is currently exporting, as part of the mining and commodities trader's bid to turn its fortunes around. The arrangement with Libya's state-run National Oil Corporation has been running since September, market sources told Reuters. It leaves Glencore responsible for loaning and finding buyers for crude [...]
FTSE 100 finishes the week lower as the pound slides below $1.26 November 11, 2016 Having jumped above $1.26 this morning for the first time since the so-called flash crash back in October, the pound slid back in afternoon trading. Sterling was just 0.2 per cent up against the dollar at $1.2577 by late afternoon trading in London. It was doing rather better against the euro, rising 0.7 per cent to [...]
Price of Asian benchmark Australian thermal coal heats up to $100 for first time since 2012 October 18, 2016 The price of Australian thermal coal, which is mostly used in power generation, reached $100 today for the first time in four years. A cargo was ordered on trading platform GlobalCoal for $100 per tonne from Australia's Newcastle port in November. Shares in Glencore, one of Australia's largest coal producers, were up 2.7 per cent in [...]
Global investors in UK firms hit by falling dividends and devalued pound November 21, 2016 Global investors in UK equities saw their dividends plummet in the quarter after the EU referendum thanks to the devaluation of sterling. In underlying terms, UK dividends were down 2.9 per cent year-on-year in the third quarter, with mining companies such as Glencore and manufacturing group Rolls-Royce making deep cuts. But while the impact of [...]
FTSE 100 opens higher despite weak Chinese economic data as miners including Anglo America, Glencore and BHP Billiton rally January 19, 2016 The FTSE 100 index opened higher today despite data from China that showed its economy growing at its slowest rate in 25 years. The UK's blue-chip index opened 1.64 per cent up at 5,872 points, led higher by miners. Yesterday markets were weighed down by "continued risk aversion and weakness in oil prices, as concerns grow over further deflationary forces rippling [...]
FTSE 100 index opens flat weighing Glencore gains against Sports Direct losses December 10, 2015 The FTSE 100 index opened flat this morning, weighing gains made by Glencore and losses in Sports Direct and Old Mutual The UK's top blue-chip index opened 0.44 per cent down at 6,099 points. Old Mutual dropped 4.61 as the market opened, to 186.2p per share, while Sports Direct's share price fell 6.69 per cent to 621p [...]