US housing starts recover in June July 18, 2012 US housing starts jumped to their speediest pace for over three years in June, according to Commerce Department data released yesterday. Starts were up 6.9 per cent on the month, to a seasonally adjusted rate of 760,000, the highest rate since the false-start recovery in late 2008. “Housing continues to be the one sector of [...]
Halifax: People bullish on homes July 18, 2012 People in the UK remain optimistic about UK housing, according to confidence data for June published by Halifax. Over a third of respondents expected house prices to rise over the coming year, whereas only 19 per cent forecasted a decline. And while the +15 index score recorded for June was somewhat below the +19 recorded [...]
Eurozone construction fall arrested July 18, 2012 Eurozone production in construction inched up in the month to May, compared to sharp declines in April, according to Eurostat data released yesterday. Seasonally adjusted construction output rose 0.1 per cent in the euro area in May, compared to a 3.7 per cent collapse in April. The EU as a whole experienced a 1.6 per [...]
Nordgold bids to buy up stock in High River July 18, 2012 RUSSIAN miner Nordgold, the country’s third-largest gold producer, will bid for the 25 per cent of High River Gold Mines it does not already own, in a deal valuing the Canadian-listed producer at $1.2bn (£769m). Nordgold, controlled by billionaire Alexei Mordashov and chaired by Philip Baum (pictured right), was spun off from Mordashov-owned Severstal earlier [...]
Severn Trent customers see bills rise despite reducing water use July 18, 2012 WATER company Severn Trent said yesterday that it had raised customers’ bills despite customers using less water. Customer bills increased by 5.2 per cent from 1 April the utility company said in its trading update. “Consumption across our measured income base has declined year-on-year in the period, in line with our expectations,” it said yesterday. [...]
Tullow given lift after Ghana exploration reveals oil and gas July 18, 2012 TULLOW Oil yesterday reported that its latest exploration well offshore Ghana found traces of oil and gas. The Wawa-1 exploration well in the Deepwater Tano licence was drilled to a final depth of 3,322 metres. Tullow is operator of the Deepwater Tano licence with a 49.95 per cent stake. It is partnered by Kosmos Energy [...]
AEA admits shares are worthless July 18, 2012 Climate-change technology firm AEA yesterday warned its shareholders that they would be left with “little or no value”, after it failed to find a long-term solution to its debt problems. The firm, which is based in Oxfordshire, said it is looking at all “strategic options to realise value” but said an offer for its shares [...]
Allied lowers production estimate July 18, 2012 Allied Gold Mining yesterday reduced its full year production guidance to between 160,000 and 165,000 ounces down from 180,000 ounces previously. The reduction follows unscheduled maintenance at both Simberi and Gold Ridge. The company produced a total of 31,447 ounces in the three months to the end of June. In the six months to June, [...]
Fresnillo in record gold output July 18, 2012 Mexican precious metals producer Fresnillo said yesterday that it was on track to meet silver and gold output targets for this year, helped by the ramping up of production at its new Saucito mine. Quarterly gold production was positive, jumping 15.4 per cent to 127,003 ounces to reach a record level for the quarter.
Land Securities vacancies up as woes continue July 18, 2012 LAND SECURITIES, the UK’s largest landlord, has been hit by a fall in visitors to its shopping centres in the three months to July, which the company blamed on “ongoing uncertain economic news”. The company reported yesterday that footfall in its shopping malls fell by 2.8 per cent on the same period last year, and [...]
