As the UK prepares to leave the EU, is it time for investors to get out of the UK? October 5, 2016 With the FTSE 100 reaching 7,120 yesterday, just undershooting its all-time high, this might seem like a strange time to ask whether investors should be ditching UK assets altogether. However, as the blue-chip index surged, DeVere Group founder Nigel Green warned that Brexit-related risk means that such a “precautionary measure” is increasingly likely from UK investors [...]
Glencore share price: Debt-struck resuorces giant calms investors with £1.6bn cash call September 16, 2015 Glencore’s share price closed 5.2 per cent higher yesterday, after a £1.6bn share placing reassured investors that the debt-struck resources giant could turn around its fortunes. The FTSE 100 commodities trader and miner rallied to 134.7p per share, having plummeted to an all-time low of 118.10p on Tuesday, due to market jitters about Glencore’s unwieldy [...]
BlackRock agrees to sell Singapore office spot to Qatar Investment Authority for $2.5bn June 6, 2016 BlackRock announced today that it had agreed to hand over the keys to an office complex in Singapore to sovereign wealth fund Qatar Investment Authority for $2.5bn (£1.7bn). Asia Square Tower 1 consists of 43-storeys of space and more than 1.25 million square feet of area that could be let out. Citibank, one of the building's most notable tenants, has been in [...]
Glencore share price falls to record low as profits plunge amid commodities rout August 19, 2015 The figures Glencore reported a net loss of $676m (£431m) in the first half of 2014, thanks to tumbling commodity prices. That's down 139 per cent from a $1.72bn profit during the same period a year earlier. The company said adjusted earnings before interest, tax, depreciation and amortisation – another measure of profitability – fell [...]
Miners look to asset sales for relief February 28, 2016 The mining industry is set for further pain this week, as Glencore and Fresnillo report preliminary results for 2015 tomorrow. Analysts are expecting a fall in pre-tax profit at Glencore of up to 80 per cent, as well as details of how the Switzerland based FTSE 100 miner will go about cutting its $13bn (£9.4bn) [...]
Copper is heading for its third weekly decline May 20, 2016 Copper is heading for its third weekly decline today, having come under pressure from the stronger dollar. Three-month copper on the London Metal Exchange shed 0.7 per cent to 4,580 per tonne, following a 0.7 per cent loss in the previous session. Read more: Glencore share price falls as copper production slides Copper has shed around nine per [...]
Glencore share price hit worst in fallout from China’s slowdown: The scale of impact on commodity stocks and financial services revealed September 25, 2015 Just one month after plummeting Chinese equity markets sent shockwaves across global stock exchanges, industries around the world are seeing the damaging effects that China’s slowdown is having on jobs, growth and investment. “The Chinese slowdown and the Chinese economic rebalancing are pretty remorseless,” Kit Juckes, macro strategist at Societe Generale, told City A.M. [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]
At the close: FTSE 100 makes it four positive days on the bounce as commodity prices climb June 8, 2016 A rebound in commodity prices gave a boost to the resources and energy heavy FTSE 100 today, moving it ahead of European markets. The index rose by 16.99 points, or 0.3 per cent, to 6,285.21 points, making today its fourth positive session on the bounce. Oil prices continued their recent rally, climbing to their highest price in around eight months. [...]
Antofagasta warns copper prices will remain low for at least two years May 18, 2016 Chilean copper miner Antofagasta has said it expects copper prices to remain low for the next two to three years. Speaking at Antofagasta's annual general meeting today, chairman Jean-Paul Luksic said: "As we look forward we are not counting on an improved macroeconomic environment although we have recently seen some positive signals to this effect. We are expecting another [...]