London Report: FTSE is knocked by jitters in US, China and Italy September 30, 2013 BRITAIN’S top share index fell yesterday, with miners hit by weak data from top metals consumer China and with political jitters in Italy and the United States hurting broad investor sentiment. Fresnillo and Glencore Xstrata lost over two per cent after Chinese data unexpectedly pointed to a near-stagnation of private sector factory activity. Yesterday’s market [...]
Public offered a ride on theme park flotation October 21, 2013 ALTON Towers owner Merlin Entertainments yesterday said members of the public will have the chance to become shareholders in the company when it floats in London next month, with a minimum investment of just £1,000. The business, which also owns Madame Tussauds and Legoland, plans to raise £200m in an initial public offering of shares. [...]
London Report: Weak earnings reports fuel drop in FTSE shares August 20, 2013 BRITAIN’S top share index edged lower yesterday as gloomy earnings reports fuelled profit-taking on some basic material and energy stocks and investors cut positions in expectation of less US monetary stimulus. Shares in miners BHP Billiton and Glencore Xstrata fell 1.7 per cent and 1.6 per cent respectively as the former announced a lower-than-expected profit [...]
London Week Ahead: All eyes on UK GDP and Fed’s minutes August 18, 2013 TRADERS will get a better glimpse into the British economy this week when a further estimate of second quarter economic growth is published at the end of the week. The Office for National Statistics will give a revaluation of the 0.6 per cent advance it recorded between April and June this year on Friday, with [...]
London Report: Fall in copper price hits mining stocks August 19, 2013 ADROP in major mining stocks pushed Britain’s benchmark share index lower yesterday, while persistent concerns about an expected reduction in US monetary stimulus also weighed on the market. The blue-chip FTSE 100 index closed down 0.5 per cent, or 34.26 points, at 6,465.73 points, continuing a pull-back that saw it dip 1.3 per cent last [...]
Bottom Line: When making a brand new start of it doesn’t work August 18, 2013 WHEN Edwards’ planned London flotation was cancelled in April 2011, the markets barely even feigned surprise. The vacuum technology firm’s pulled initial public offering (IPO) came amid a period of market volatility and – Glencore aside – little appetite for new listings. It was hardly surprising that investors didn’t clamber over each other to [...]
Gulf Keystone settles its spat with investors July 21, 2013 OIL explorer Gulf Keystone Petroleum has withdrawn its opposition to four directors proposed by shareholder M&G Recovery Fund, ending a row with its biggest investors over corporate governance. Gulf Keystone said in a statement over the weekend that it had reached a “constructive agreement” with shareholders regarding the shape of its board. Meanwhile, M&G Recovery [...]
Xstrata investors back Glencore megamerger November 20, 2012 THE £56bn soap opera between commodity giants Xstrata and Glencore finally came to a head yesterday as Xstrata investors approved the mining mega-merger. In a meeting lasting just over two hours, investors green-lit the merger – whose twists and turns have entertained the market since Glencore first approached Xstrata in February – and paved the [...]
Glencore shareholders back Xstrata merger November 20, 2012 Glencore shareholders voted overwhelmingly in favour of the merger with Xstrata this morning, paving the way for the £56bn commodity tie-up. More than 99 per cent of Glencore investors were in favour of the merger, which looks set to be voted through today. After nine months of negotiations, Xstrata investors are due to meet in [...]
How shareholders shaped the Xstrata Glencore merger November 19, 2012 SHAREHOLDERS in Xstrata, the mining company, vote today on whether to approve its mega-merger with Glencore, the commodities group. If passed, the deal will create a £50bn mining and global commodities marketing giant. But reaching this point hasn’t been easy. At nearly every step of over ten months of negotiations, shareholders have successfully made their [...]