Anglo completes Amapa sale November 4, 2013 FTSE 100-listed miner Anglo American yesterday said it has completed its sale of the Amapa iron ore operation in Brazil to Zamin Ferrous for $134m (£83.9m), after receiving regulatory approval. As previously announced, Zamin will also pay Anglo American deferred payments of up to $130m over the next five years, depending on the iron ore [...]
Good test results for York Potash November 4, 2013 British potash miner Sirius Minerals yesterday said it had received positive results on a range of tests on the York Potash Project’s polyhalite fertiliser product. “Independent confirmation of nutrient release, solubility, pH and conductivity are important components of the value of polyhalite for our wholesale customers and their end-user farmers,” said chief executive and managing [...]
Arian starts El Bote refurbishment November 4, 2013 Aim-listed explorer Arian Silver yesterday reported a positive start to the refurbishment programme for the recently purchased El Bote processing plant, which is expected to process up to 1,500 tonnes of silver per day when fully commissioned. “The successful commissioning of the Plant and development of the mine will give Arian the capacity to achieve [...]
City Moves for 05 November 2013 | Who’s switching jobs November 4, 2013 RBS The bank’s real estate management division, part of its global restructuring group, has announced the hire of Jessica Way as a senior asset manager. She was most recently at Aviva Investors, where she was a real estate asset manager for its property trust. Chadbourne & Parke The advisory firm has recruited Nikolai Mikhailov as an [...]
Best of the Brokers for 05 November 2013 November 4, 2013 SPIRIT PUB COMPANY Numis reports that Spirit Pub Company has achieved its goals from refinancing; consequently, 70 per cent of A1 and 50 per cent of A3 bond notes will be converted into A6 and A7 bond notes. The broker has maintained its buy rating for the stock with the target price of 100p. DE [...]
London Report: HSBC lifts FTSE as Ryanair and Weir Group sink November 4, 2013 BRITAIN’S FTSE 100 share index pushed ahead yesterday, as its biggest stock HSBC rose after solid results, outweighing weakness in the airline and engineering sectors following profit warnings. HSBC advanced 2.3 per cent in its biggest one-day rise in four months after quarterly profits rose by a tenth, year-on-year, meeting analyst expectations and reassuring investors [...]
New York Report: Blackberry hits a 10-year-low with new boss November 4, 2013 US STOCK indexes were little changed yesterday in belowaverage trading volume, while shares of Blackberry plummeted to a 10-year low after the company replaced its chief executive. US-listed shares of Blackberry tumbled 17.2 per cent to $6.43 a share after the smartphone maker said it was abandoning a plan to sell itself. With yesterday’s drop, [...]
How to employ market volatility indicators to build a trading strategy November 4, 2013 FOR LESS experienced forex traders, the correlation between volatility and market prices – and how this relationship can be used to help build trading strategies – can prove elusive. Volatility expresses the degree of price change over a given time period. And one of the more common means of measuring market price volatility is the [...]
Deflation fear prompts Eurozone rate cut talk November 4, 2013 But a single data point is unlikely to convince the ECB that immediate loosening is necessary European shares traded close to five-year highs yesterday amid speculation that the European Central Bank (ECB) will cut its policy rate on Thursday. The FTSEurofirst 300 Index rose above 1,296, a near 6 per cent increase from Friday’s levels. [...]
CNBC Comment: Vanilla trading for the end of 2013 November 4, 2013 IT ALL got a bit catty behind the scenes on the set of SquawkBox this week. During one of our daily market open strategy debates, one of my guests told the audience that his big idea for the rest of the year was to “buy the winners of 2013 and sell the losers”. At this [...]