European Report: Shares climb to highest level since January February 17, 2014 EUROPEAN shares climbed to a three-week high in thin volumes yesterday, extending a strong two-week rally fuelled by record inflows from a greater number of investors betting on the region’s economic recovery. Data showing brisk lending in China, the world’s biggest metals consumer, boosted miners, with BHP Billiton and Glencore Xstrata rising 1.2 per cent [...]
London Report: Inflation data to show economy improving in UK February 16, 2014 INFLATION figures due out tomorrow are expected to show further signs of improvement for the UK’s economic recovery. With the cost of living down, consumer prices inflation (CPI) may now be below two per cent. Jonathan Loynes, of Capital Economics said: “CPI inflation looks set to fall below the two per cent target in January [...]
Glencore enjoys surge in copper production as zinc and lead disappoint February 11, 2014 Mining giant Glencore has reported a surge in copper production of 26 per cent to 1.5m tonnes, while coal output rose four per cent in the year to 31 December. The strong performance of copper and coal helped offset weaker results from zinc and lead. Zinc output fell by nine per cent while lead suffered [...]
BHP vows higher shareholder returns as production soars January 22, 2014 BHP BILLITON’S iron ore expansion plan went full throttle in the second half of the year, with the miner posting record production from its West Australian mines and a 19 per cent rise in output. The FTSE 100-quoted miner’s West Australian operation benefited from the early delivery of first production from the Jimblebar mine, which [...]
What you need to know before the open – 22/01 January 22, 2014 European equities are expected stronger today, as US stock futures increase and improving Asian shares see investors relaxing a bit. Davos continues today, with world leaders debating the crucial economic questions of the day. With something of a dearth of economic data this week, investors continue to watch the various earnings reports out. SUGGESTED [...]
Iron ore prices are set to crash by 40pc. Here’s why December 13, 2013 Demand for major commodities was strong this year, but supply topped it. When it came iron ore, demand outweighed supply on a relative basis because it was stronger and there was marginal shortage in the market, but many analysts don't expect that to remain the case. By 2015, Goldman forecasts "major oversupply" of iron ore, [...]
Mining shares are crashing on this Australian update December 11, 2013 An update from Australia's third biggest copper producer, Oz Minerals, has investors panicked. Last night the company announced a disappointing results, alongisde a poor outlook for its flagship mine, Prominent Hill (pictured). Societe Generale's Sebastien Galy says that this indicates over capacity, and that "such over capacity exists also on the transformation side also in [...]
BHP Billiton looks to reduce its annual spending by one quarter December 10, 2013 FTSE 100-listed mining giant BHP Billiton yesterday indicated that it would cut annual spending to around $15bn (£9.1bn), as it looks to simplify the business and grow its margins. “A 25 per cent reduction in capital and exploration expenditure is planned for this financial year and our level of investment will decline again next year,” [...]
BHP’s Yeager joins Cairn India December 4, 2013 FTSE 100 oil and mining firm Vedanta Resources yesterday said it has hired Mike Yeager as chairman of the operations review board at its subsidiary Cairn India. Yeager was formerly chief executive of the global petroleum business at Australian miner BHP Billiton and worked at Exxon Mobil. “[Yeager’s] rich global experience will help Cairn to [...]
To Infiniti but probably not beyond November 18, 2013 This tech-heavy premium motor has an impressive array of gadgetry but fails to knock your socks off Performance first” is the motto of Infiniti, the premium car brand from the same company behind Nissan. You can tell it’s serious because, at the launch of its latest car in Barcelona, everyone from Infiniti is dressed like [...]