Rawlinson left red-faced after overheard lunch February 6, 2014 IT’S THE nightmare scenario we all dread. Going for a meeting with a prospective employer and getting spotted (and overheard) by your current boss. But that’s exactly what happened to mining investment maestro Michael Rawlinson when he was thinking about leaving his role as head of mining at Liberum Capital during the summer. Amid talks [...]
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 [...]
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: FTSE reverses losses as crisis in Crimea eases March 4, 2014 THE UK’S top share index rebounded from two-week lows yesterday, recouping its losses in the previous session, with the perception that tensions between Russia and Ukraine were easing and robust earnings boosting investors’ risk appetite. However, investors remained cautious in placing strong bets on the sustainability of the share rally, given that Russia and the [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
Best of the brokers for 18 September 2013 September 17, 2013 GLENCORE XSTRATA UBS has cut its rating on the commodities giant from “buy” to “neutral” and raised its target from 330p to 335p, as the shares have bounced back 32 per cent from the trough. The broker remains upbeat about Glencore’s cost-cutting plans until copper and coal prices improve. 888 HOLDINGS Numis has a “buy” [...]
Bottom Line: Mick the miner is ready to build September 30, 2013 IT MAY share its name with both a superhero movie sequel and a low-cost Nokia phone, but there’s only one thing that Mick Davis’ new venture looks like – Xstrata. The former chief executive of the resources group, pushed out of the top job as part of a revised deal with merger partner Glencore earlier this [...]
BP signs a key oil trade deal with Rosneft November 12, 2013 RUSSIAN oil behemoth Rosneft said yesterday is plans to sell about $6bn (£3.7bn) worth of refined products to BP, establishing the British firm among its biggest buyers after years without any such deal. The latest transaction comes on top of a $5.3bn deal for BP to buy crude, agreed earlier this year. Both came only [...]
Hochschild Mining plans to buy remaining Peru assets for £172m October 2, 2013 FTSE 250-listed Hochschild Mining said yesterday it plans to raise up to $96m (£59m) through an equity placing to help it buy the remaining 40 per cent stakes in its Peruvian assets for $280m. The Latin America-focused precious metals miner said it has agreed to buy the 40 per cent stakes held by International Mineral [...]
London Report: EasyJet carries FTSE close to a one month high September 10, 2013 THE UK’S main share index rose to its highest level in nearly a month yesterday, bolstered by the outlines of an international compromise to avert a US strike on Syria, while budget airline EasyJet also dragged the FTSE higher. There was also strength in the resources sector after an upbeat report from miner Glencore Xstrata [...]