Rio Tinto to pay record $6.5bn dividend after ‘robust’ year February 17, 2021 Rio Tinto will pay out a record $6.5bn (£4.7bn) dividend to investors as it hailed “robust” results despite the Covid-19 pandemic. The FTSE-listed mining giant said it will pay a final dividend of $3.09 per share and a special dividend of $0.93 per share. Combined with its half-year dividend, this takes the total payout for [...]
Peter Hargreaves to sell £300m worth of shares in Hargreaves Lansdown February 16, 2021 The co-founder of Hargreaves Lansdown, one of the UK’s largest financial services firms, has announced he is selling £300m worth of shares in the company. Peter Hargreaves, the largest shareholder in the firm he set up in 1981, will sell the shares through an accelerated bookbuild offering to institutional investors. Barclays, which is acting as [...]
All eyes on dividends: What to expect from Barclays and Natwest this week February 16, 2021 Barclays and Natwest will be the first of the major high street banks to report full year results this week. It has been a difficult 12 months with Brexit weighing on sentiment in addition to the fallout from the pandemic. All eyes will be on dividend payments after the Prudential Regulation Authority effectively banned payouts [...]
Copper touches highest levels since 2012 as metals rally continues February 16, 2021 Copper prices hit their highest levels in nearly a decade today as Chinese demand and the global economic recovery extended the red metal’s rally. For the third session in a row London Metal Exchange copper hit fresh multi-year peaks, having rallied by 93 per cent since last March. LME copper pushed up 0.3 per cent to $8,416.50 [...]
Maybe analyst recommendations DO add value February 16, 2021 | City Talk This is something all investors know for a fact: following analyst buy or sell recommendations isn’t going to lead to outperformance in the long run. Or is it? A new study may cast some doubt on the conventional wisdom. In “Analyst Recommendations and Anomalies Across the Globe,” Vitor Azevedo and Sebastian Müller, CFA, examine 3.8 million analyst forecasts in [...]
Glencore reinstates dividend after slimming down debt February 16, 2021 Glencore today said it will reinstate its dividend for the full year after improved second-half trading helped the mining giant trim its debt pile. The London-listed firm, which last year slashed its dividend in a bid to reduce debt, has proposed a payout of $1.6bn (£1.1bn) for 2020, or $0.12 per share. It follows an [...]
Up we go: Pound sterling approaches $1.40, hitting two-year-high thanks to Covid vaccine rollout February 15, 2021 Pound sterling nears $1.40 after hitting two-year-high on Covid-19 vaccine rollout
UBS investment bank co-chief joins Euronext as chairman February 15, 2021 Piero Novelli will leave his job as co-president of UBS’ investment bank to become chairman of the stock exchange operator Euronext. The appointment, which was triggered by Euronext’s acquisition of Borsa Italiana last October, leaves Robert Karofsky in charge of the UBS division. As part of the deal, Euronext reportedly agreed to have an Italian [...]
Oil prices climb above $63 for first time in 13 months February 15, 2021 Oil prices rose above $63 for the first time since last January this morning as last week’s rally continued apace. The combination of hefty supply cuts, optimism over the global rollout of Covid vaccines, and tension in the Gulf sent prices up. Worldwide standard Brent Crude is currently up 1.2 per cent at $63.20, while [...]
Exclusive: Cyprus-focused miner set for London float February 15, 2021 A mining firm targeting a number of gold and copper sites in Cyprus is set to announce its intention to float on London’s main market. Caerus Mineral Resources – named after the Greek god of opportunity – is looking to raise £2.3m on its main market debut. The firm will issue an announcement to the [...]