By: Courtney Goldsmith

I am a journalist for City A.M. reporting on the energy and mining sectors. I also keep an eye on the pharmaceuticals sector and cryptocurrencies. Email: courtney.goldsmith@cityam.com

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Shares in Diageo are up as the global drinks maker beats forecasts

January 26, 2017

Diageo, the maker of Smirnoff, Guinness and Johnnie Walker, beat expectations for the six months ended 31 December after years of stagnant growth. The figures The drinks giant said reported net sales were up 14.5 per cent at £6.4bn, while operating profit rose 28 per cent at £2.1bn, reflecting organic growth and favourable exchange rates. Diageo experienced organic growth across all [...]
Oil production is set to outpace demand while overall global energy demand increases into 2035

January 25, 2017

Global energy demand is set to rise by 2035, but oil prices are likely to remain low while production increases faster than demand. In the next 20 years, energy demand will increase around 30 per cent across the globe, although it will be offset by rapid gains in energy efficiency, according to an analysis of long-term energy trends. BP's annual Energy [...]
British Steel is in the black for the first time since splitting with Tata

January 25, 2017

British Steel is back in profit for the first time since its acquisition from private equity company Greybull Capital. Tata Steel sold its long products business, including the plants in Scunthorpe and mills on Teesside, to Greybull in June after months of talks. Now, seven months later, British Steel has ended its third quarter of 2016 in profit [...]
BHP Billiton lowers copper production guidance but strikes record iron ore

January 25, 2017

BHP Billiton reported record iron ore production for the second half of 2016, but the Anglo-Australian giant has lowered its copper targets because of pay disputes and power outages. Production of iron ore increased four per cent to 118m tonnes in the half-year to December 2016 as the continued ramp-up of additional capacity at its Jimblebar mine helped push production of Western Australia [...]
Antofagasta misses its copper production target for 2016

January 25, 2017

Antofagasta today confirmed copper production missed the lower end of its target in a fourth-quarter production report. The FTSE 100-listed miner said copper production in the fourth quarter was up 13.8 per cent to 205,500 tonnes, while copper production for the full-year increased 12.5 per cent to 709,400 tonnes compared with 2015, which was below the company's targets. Gold production hit [...]
Fresnillo hit record production of gold and silver in 2016

January 25, 2017

Precious metals miner Fresnillo reported record-breaking annual gold and silver production in its fourth quarter report, but its shares have slipped as prices remain low. In 2016, the miner produced 935,300 ounces of gold, up 22.8 per cent, and 50.3m ounces of silver, up 7.1 per cent from the previous year. After breaking records in the third quarter of 2016, fourth [...]
Anglo American’s shares are sparkling after its first diamond sales of 2017

January 24, 2017

Anglo American's shares have risen more than six per cent after its diamond-producing De Beers unit brought in profit with its first diamond sale of 2017. Shares had risen 6.11 per cent at 1,388.5p at the time of publishing following the miner's announcement of its rough diamond sales. De Beers' first sales cycle of 2017 produced $720m (£576m) from [...]
Shares in Genel Energy fell more than 10 per cent after analysts cast doubts over production

January 24, 2017

Shares in Genel Energy plummeted 11 per cent in afternoon trading after analysts cast doubt over its output levels. In a trading update today, Genel said its net production for 2016 averaged 53,300 barrels per day (bpd), and this year's guidance has been set at 35,000 to 43,000 bpd. However, analysts say this is based on the completion [...]
EnQuest has agreed to buy a stake in BP’s Magnus oil field

January 24, 2017

EnQuest has agreed to buy a 25 per cent stake in BP's Magnus oil field and surrounding assets in the North Sea in "a natural evolution of EnQuest's business". The oil producer said it will also take over operations of Sullom Voe on the Shetland Islands, which is Britain's largest oil terminal. This deal is part of EnQuest's strategy of "realising value from the management [...]
British Gas agrees to pay a £9.5m penalty for its customer service failures

January 24, 2017

British Gas has agreed to pay £9.5m in compensation to customers after a faulty billing system gave tens of thousands of business customers incorrect bills. The company reported itself to energy regulator Ofgem in 2014 after implementation of its new £40m system didn't go to plan, causing late and inaccurate bills, registration delays and a high number of [...]

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By: Courtney Goldsmith

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