BHP Billiton dubs new $15bn mine spin-off venture South32 December 8, 2014 ANGLO-Australian mining company BHP Billiton yesterday named its new $15bn (£9.6bn) mining spin-off – South32. The title comes from the fact that the company’s main resources are located in the southern hemisphere, namely in South Africa and Australia. Both of these areas are linked by the thirty-second parallel south line of latitude. BHP Billiton initially [...]
FTSE drops over Draghi’s lack of stimulus news – London Report December 4, 2014 BRITAIN’S top equity index fell yesterday largely due to a drop in commodity stocks and disappointment at a lack of concrete, new economic stimulus measures from the European Central Bank (ECB). The blue chip FTSE 100 index closed down by 0.6 per cent, or 37.26 points, at 6,679.37 points. The ECB slashed its growth and [...]
Antofagasta names chief December 3, 2014 CHILEAN miner Antofagasta yesterday appointed Ivan Arriagada Herrera as chief executive of its mining division. Arriagada, 51, takes up the role at the helm of Antofagasta Minerals with effect from 16 February 2015. He joins from Codelco, where he has been vice-president of administration and finance since 2012. He has also worked at BHP Billiton [...]
Oil and China data weigh on FTSE as it suffers 1pc fall in day – London Report December 1, 2014 BRITAIN’S top share index yesterday dropped to its lowest in two weeks, as commodity shares slumped and Vodafone fell on speculation it is considering possible acquisitions. The FTSE 100 closed down one per cent to 6,656.37 points, after falling as low as 6,637.39, the lowest since 17 November. Vodafone fell 2.9 per cent to 227.20p [...]
Best of the Brokers for 01 December 2014 November 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BHP BILLITON Morgan Stanley analysts have upped their target price for the natural resources company from 2050p to 2200p and kept their “overweight” rating. “It ranks well versus diversified mining and oil peers,” the analysts said. DIXONS CARPHONE Deutsche Bank has upgraded its [...]
FTSE ends flat as travel firms weigh on index – London Report November 26, 2014 BRITAIN’S top share index closed flat on Wednesday, erasing early gains, with weaker travel and leisure stocks offsetting a rebound in miners and strength in telecoms. The blue chip FTSE 100 index ended 1.97 points lower, or flat in percentage terms, at 6,729.17 points after hitting a session high of 6,765.01 in early trading, as [...]
Petrofac slump weighs on FTSE amid M&A flurry – London Report November 24, 2014 BRITAIN’S top share index edged lower yesterday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high. Smith & Nephew and Friends Life were said to be likely subjects for bids, and BT confirmed it might expand into mobile communications. The benchmark FTSE [...]
Chinese Landwind X7 vs the Range Rover Evoque: This car looks suspiciously familiar… November 21, 2014 Executives on their way to launch Jaguar Land Rover's (JLR) new Evoque at yesterday's Guangzhou motor show could have been forgiven for ending up at the Landwind stand by mistake. For the Chinese manufacturer's latest offering, an SUV, looked suspiciously familiar. Its narrow headlights, chunky front end and trendy black alloys evoked… well, they evoked Range [...]
FTSE weighed down by poor Chinese data – London Report November 20, 2014 BRITAIN’S top share index yesterday fell for a second day, hit by weak economic data from the Eurozone and China and a profit warning from energy supplier Centrica. The blue chip FTSE 100 index closed 0.3 per cent lower at 6,678.90 points, extending its retreat from an eightweek high reached on the previous day. Centrica, [...]
Royal Mail and miners weigh heavily on FTSE – London Report November 19, 2014 THE FTSE 100 ended a four-day rally yesterday as falling iron ore prices hit mining stocks and trading updates from Royal Mail and testing firm Intertek disappointed investors. Hit by its heavy weighting in commodity-related stocks, the blue chip index underperformed European peers, dropping 12.53 points, or 0.2 per cent, to 6,696.60 points. One of the [...]