Best of the Brokers for 23 October 2014 October 22, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ARBUTHNOT Numis upgraded Arbuthot to an “add” rating, and said the group’s third-quarter trading update showed that both its businesses were “progressing well within a positive operating environment”. The broker added that there was ample resource to meet growth potential. BHP BILLITON S&P [...]
BHP Billiton share price up as miner confirms new metals firm will list in London October 16, 2014 BHP Billiton’s shares yesterday dipped briefly by almost two per cent, but finished up 0.12 per cent, after confirming that its new company would be listed on the London Stock Exchange. Andrew Mackenzie, BHP’s chief executive, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown [...]
Good China data set helps miners to lift FTSE out of slump – London Report October 13, 2014 BETTER than expected trade data from Chinese and fears over the fragile geopolitical situation yesterday helped to lift FTSE. Britain’s benchmark blue-chip index closed 0.4 per cent higher at 6,366.24 points after falling earlier in the session as far as 6,294.64. Seven out of the top 10 risers were mining companies. Anglo American rose 4.72 [...]
London Mining digs for cash as shares tank 75pc October 8, 2014 WEST AFRICA-focused London Mining shares tanked yesterday by 75 per cent, after it warned investors that their holdings were on the verge of being worthless. In a statement, the company said: “Under the structures currently proposed, the board believes that there will be little or no value remaining in the equity of the company and [...]
Glencore rules itself out of Rio Tinto bid for six months October 7, 2014 Glencore has distanced itself from a merger with rival miner Rio Tinto – forgoing the opportunity to make a formal bid for the next six months as a result. Last night Rio Tinto revealed it had firmly rejected an approach from the smaller firm, which would have created a £100bn giant, leapfrogging BHP Billiton [...]
Rio Tinto rejects Glencore’s £60bn mega-merger bid October 6, 2014 Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an approach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]
Iron miner BHP cuts costs as it builds capacity October 6, 2014 MINING company BHP Billiton is aiming to cut costs while increasing capacity at its Western Australia Iron Ore (WAIO) operation, the group announced yesterday. BHP iron ore president Jimmy Wilson told investors at a tour of the WAIO site that the firm planned to cut unit costs by “at least 25 per cent” to $20 [...]
BHP Billiton share price falls despite Australian expansion plan October 6, 2014 BHP Billiton says it can cut costs at its iron ore mines in Australia, providing attractive returns for shareholders despite pessimism pervading the iron ore industry as a whole. This failed to impress investors, however, with shares in the company going down by 0.2 per cent to £16.48 in trading this morning. The [...]
Hong Kong protests hit Asian markets September 29, 2014 Demonstrators thronged outside the Legislative Council in Hong Kong yesterday as the protest against the Chinese for free elections continued. The unrest has hit stocks for Asia-focused banks such as HSBC and Standard Chartered as well as miners Rio Tinto and BHP Billiton. It is likely to escalate tomorrow, which is China’s National Day holiday.
FTSE flat as Hong Kong protests hits Asia-exposed firms – London Report September 29, 2014 Britain’s top share index ended flat yesterday as unrest in Hong Kong kept a lid on Asia-exposed stocks and concern over demand for metals hit miners. The blue-chip FTSE 100 index closed down 2.79 points – flat in percentage terms – at 6,646.60 points. The index, which dropped 2.8 per cent last week, is down [...]