Standard & Poor’s downgrades BHP Billiton and places ratings on watch due to low commodity prices February 1, 2016 The ongoing commodities rout has prompted ratings agency Standard & Poor's (S&P) to lower its long term credit ratings on mining firm BHP Billiton from A+ to A, and place the company on CreditWatch with "negative implications". S&P said its decision to downgrade the miner followed a "recent update to our price assumptions for most commodities, [...]
FTSE 100 index rebounds as oil prices climb and miners rally January 26, 2016 The FTSE 100 index closed up on Tuesday as the price of oil rebounded and mining stocks began to rally. The UK's blue-chip index rose 0.59 per cent to 5,911 points, led by Anglo American and Glencore as the price of oil staggered back over $30 a barrel. "A short-squeeze in crude oil has dragged markets out [...]
FTSE 100 index closes up after being encouraged by European Central Bank President Mario Draghi’s pledge to review its monetary policy in March January 21, 2016 The FTSE 100 index closed higher on Thursday, stabilising after trading with some volatility in the morning. The UK's blue-chip index ended the session 1.77 per cent higher at 5,773 points, spurred on by European Central Bank President Mario Draghi’s pledge to review its monetary policy in March. The ECB decided not to cut interest rates further today, but many believe [...]
FTSE 100 index closes in a bear market as the price of oil falls further January 20, 2016 The FTSE 100 index officially fell into a bear market on Wednesday as the price of oil continued to slide. The UK's blue-chip index fell 3.46 per cent to 5,673 points, falling over 20 per cent from the high it reached in April 2015. "Few stocks were spared today as European equity markets plunged sharply today with the FTSE 100 [...]
BHP Billiton share price falls as it announces more impairment charges and iron ore production guidance January 20, 2016 BHP Billiton languished towards the bottom of the FTSE today, after the mining giant's first half operational review laid bare the impact of plunging global commodity prices on its balance sheet. The company said it would take an additional $300m (£211.6m) to $450m in impairment charges from its first-half earnings, due to redundancies, inventory write-downs as well as royalty and taxation matters. [...]
Oil prices: End of Iran sanctions sends prices lower – but Opec says this year the US shale oil industry will finally feel the burn and cut production January 19, 2016 There seems no end in sight for sliding oil prices, as black gold fell to $28 a barrel for the first time in 12 years. It’s now priced 70 per cent lower than its $120 peak in June 2014. Forecasts of $20 a barrel made by Goldman Sachs last summer seemed outlandish at the time. But [...]
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 [...]
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 [...]
FTSE 100 closes lower on mining stocks as US markets tumble following a sharp drop in Chinese markets and oil prices January 15, 2016 You probably saw this one coming: The FTSE 100 finished the week 1.92 per cent lower, closing under 6,000 points for the second Friday running, as US markets tumbled. The FTSE 100 finished at 5,804 points, pushed down by miners including Anglo American, which finished the day 11.5 per cent lower at 232.7p, Glencore, which fell 6.5 per [...]
BHP Billiton share price falls as firm writes down $4.9bn amid fears it could dent company dividend January 15, 2016 BHP Billiton has warned that it expects to take the hit on a $4.9bn post-tax (or $7.2bn pre-tax) impairment charge for the last financial period, as a direct impact of the falling price of oil and gas. The write-down will be registered as an exceptional item in the financial results for the half year ended 31 December [...]