BHP Billiton share price up six per cent despite pre-tax profits falling 61.7 per cent year-on-year August 25, 2015 BHP Billiton's share price was trading up to six per cent up in morning trading, leading the FTSE 100, despite reporting a significant fall in pre-tax profits for the year to the end of June, missing analysts' expectations, amid falling commodity prices. The figures BHP Biliton reported pre-tax profits of $8.67bn (£5.50bn), 61.7 per cent lower. The [...]
FTSE 100, Dax and Cac rise as hangover sets in after China stock market crash August 25, 2015 After making its worst losses since 2003 yesterday, the FTSE rose almost three per cent per cent in mid-morning trading, nudging back above 6,000. Meanwhile, the Dax rose 3.2 per cent and the Cac rose 3.1 per cent, suggesting that while European markets were nursing a hangover, the worst may be over. The rebound followed [...]
Supermarket wars: Big Four in big trouble as Tesco, Asda and Morrisons register more declines August 25, 2015 Tesco is still struggling to shrug off competition from the discount supermarkets, as data released this morning reveals yet more declines. While consumer spend within the grocery sector rose 0.9 per cent for the 12 weeks to 16 August, at Tesco it dropped by the same proportion. The price of a comparable basket of [...]
Petrofac share price rises despite first half loss as Shetland Islands rack up August 25, 2015 Petrofac shares were up 2.3 per cent up in early morning trading, despite having posted a loss for the first half of 2015 thanks costs at its Laggan-Tormore project. The figures Having issued a profit warning last November, Petrofac reported revenues of $3.2bn (£2.1bn) for the six months to the end of June, 25 per [...]
The bubble finally bursts on Black Monday: Tea, walnuts, garlic, now the Chinese stock market August 25, 2015 Fermented tea, garlic, preserved walnuts, and mahogany furniture. All of these have soared in price at one stage in the last ten years as wealthy Chinese have looked for places to store their assets and make a quick buck. “There are relatively few investment options,” says Mark Williams of Capital Economics. The walnut [...]
Black Monday: Equities bloodbath continues on US markets as Dow Jones and S&P 500 plummet August 24, 2015 US markets continued the trend set by global markets, plummeting in mid-morning trading, with the the S&P 500 and Dow Jones both trading more than four per cent down. That followed huge falls in Asia and Europe, with the FTSE 100 tumbling below 6,000 for the first time since 2012, while stocks in China fell [...]
Supermarket wars: Aldi has changed the face of UK retailing in its first 25 years – but it must adapt as much as everyone else to continue August 24, 2015 As Aldi celebrates 25 years of trading in the UK the joy may be felt by the German-owned discount chain and the great British price-conscious shopping public for its impact on the cost of food. But the reaction from rival retailers, big and small, and pretty much everyone else in the supply chain who [...]
Black Monday 2015: Biotech firm RainDance Technologies cancels IPO following global sell-off August 24, 2015 US biotech firm RainDance Technologies has pulled out of plans to publicly list on Nasdaq. Read more: Black Monday: Bloodbath continues on US markets as Dow Jones and S&P 500 plummet In a regulatory filing released today, the Massachusetts-based company cited the fall in global markets as the reason for its decision. The [...]
Former Marks & Spencer boss Lord Stuart Rose backs Select Property Group August 24, 2015 There is a new new retail club in town and it’s called Select Property Group. Former Marks & Spencer chairman Lord Stuart Rose has emerged as a surprise backer in the privately-owned developer, which operates a swathe of student housing and is about to launch its first block of serviced flats in Manchester. He has [...]
China’s economic slowdown: Commodities plunge to 16 year low as China fears push oil prices down further August 24, 2015 Commodity companies’ shares have been hit hard by crashing oil prices and “Black Monday” market fears that China’s slowdown will worsen a global oversupply of raw materials. Bloomberg’s commodity index, a basket tracking 22 different raw materials, tumbled to 86.3542 today, its lowest level since 1999, as commodity prices continue to slump amid a global [...]