Miners take a tumble as China’s credit growth slows even more March 10, 2014 Weak trading data from China – exports unexpectedly fell 18.1 per cent in February from a year earlier, and imports rose 10.1 per cent – has hit miners this morning. BHP Billiton’s down almost two per cent, with Anglo American and Glencore Xstrata both down over one per cent, and Rio Tinto down almost one [...]
London Report: FTSE falls again as tensions in Ukraine make traders wary March 5, 2014 THE UK’S top share index fell again yesterday after rebounding from two-week lows in the previous session, with updates from some companies disappointing investors and tensions over Ukraine weighing on sentiment. Engineering turnaround specialist Melrose fell 7.8 per cent, the top decliner on the FTSE 100 index, after warning of challenging market conditions and saying [...]
Africa Oilfield hires new chief March 3, 2014 Aim-quoted Africa Oilfield Logistics, the Africa-focused support services and logistics company co-founded by ex-England cricketer Phil Edmonds and businessman Andrew Groves, yesterday said it has hired Carl Esprey as its new chief executive, replacing Groves who held the position on an interim basis. Esprey previously worked at Anglo-Australian mining giant BHP Billiton and asset manager [...]
Markets are spooked: FTSE 100 falls to two-week low March 3, 2014 The FTSE 100 share index fell 108 points at the open, now down 1.1 per cent at 6,733. Cyclical shares have taken the biggest hit, as investors lose their appetite for risk, in the face of the escalating crisis in Ukraine. Other European markets are also in the red. The German DAX fell 1.8 per [...]
London Report: FTSE dragged back by weak mining sector February 25, 2014 LONDON-listed mining shares fell further yesterday, putting pressure on the blue-chip FTSE 100 index, which snapped a seven-session winning run. Mining shares recorded their biggest one-day slide in a month, amid concern that slower growth and lending curbs on the property sector in China would hurt metals demand. The FTSE 100 index, which touched its [...]
BHP finance chief bullish on US as shale brings industrial revival February 23, 2014 THE CHIEF financial officer of BHP Billiton has said he is confident of a “real” US economic recovery, backing up the mining giant’s decision to invest in what he called the country’s “transformational” shale market. “US unemployment is coming down steadily, consumer confidence is up and consumption is up,” Graham Kerr told reporters last week. [...]
London Report: Third straight day of gains sees FTSE erase 2014 losses February 18, 2014 BRITAIN’S top equity index erased its losses for the year as it rose for a third straight session yesterday, boosted by BHP Billiton and telecoms giant BT. Shares in global mining firm Billiton rose 1.9 per cent after first-half profit beat forecasts and it hinted at a share buyback in August, despite a cautious outlook [...]
What you need to know before the US open February 18, 2014 US stock futures point to a mixed open, following a three-day weekend. The first economic data in this week show the Empire Manufacturing Index, which gauges business activity for manufacturers in New York, fell from 12.51 to 4.48 in February. Analysts had expected a reading of 8.5. Outlook’s better, though – companies surveyed are expecting [...]
What you need to know before the open – 18/02 February 18, 2014 European equities are expected higher today, with investors banking on affirming economic sentiment data, in the form of Germany’s ZEW survey. Also in focus is UK inflation data at 9.30 this morning. In Asia, Tokyo stocks jumped 3.1 per cent – their best session since August – after the Bank of Japan confirmed it’s keeping [...]
Global recovery boosts profits for BHP Billiton February 17, 2014 PROFITS soared at mining giant BHP Billiton in the six months to the end of 2013, the group reported last night, as the economic recovery boosted demand. Net profit for the half-year jumped 83 per cent to $8.1bn (£4.8bn) as rising volumes and falling costs combined to increase profitability. Revenues increased 5.7 per cent while [...]