THE TIPSTER April 4, 2011 THE Falklands rollercoaster continues. The latest twist is that Falklands Oil and Gas (FOGL) is to take over operatorship from partner BHP Billiton. This means FOGL maintains control over its exploration programme, but has the benefits of BHP sharing the costs of drilling and depositing funds in an escrow account. Investors may be tempted at [...]
FTSE pushes up despite retail sector woes March 31, 2011 A raft of corporate results today has the potential to move the FTSE in either direction, but it is picking an upward path this morning. Mixed UK economic data has clouded the picture further. The GfK consumer confidence index has stalled at February’s low level on households’ concerns over their finances. Nationwide, however, said house [...]
French for “bend, turn, curve” March 29, 2011 VIRAGE is French for “bend, turn, curve” and we’ve been testing Aston Martin’s latest GT on the roads of Andalucia, roads so twisty, bendy and curvy that my co-driver has just been sick. Later he will blame my driving, but for now we’re trying to work out how to wash the vomit off of the [...]
BHP Billiton pumps $9.5bn into expansion March 25, 2011 Miner BHP Billiton has said it will pump in $9.5bn (£5.9bn) to expand its Australian iron ore and coal mining operations. The world’s biggest miner has decided to expand its own operations and infrastructure rather than chase ambitious takeovers after three failed deals as it scrambles to meet rising demand from Asia. The investments announced [...]
Australia dilutes its mining tax March 24, 2011 AUSTRALIA’S booming mining companies including BHP Billiton and Rio Tinto have won a major concession over a plan to tax their profits, potentially saving them hundreds of millions of dollars and helping cool industry opposition to the tax. Australian treasurer Wayne Swan said yesterday the national government would repay current royalties that the miners pay [...]
BHP Billiton unveils $9.5bn expansion plan March 24, 2011 BHP Billiton yesterday revealed details of its $9.5bn (£5.89bn) investment plans for its iron ore and coal operations. The FTSE 100 miner announced a bigger-than-expected $80bn capital expenditure plan last month, which the firm said would pay for organic growth over the next five years rather than blockbuster acquisitions. BHP said yesterday its Western Australia [...]
Gem shares sparkle on Lucara talks March 21, 2011 RARE diamond producer Gem is in early-stage takeover talks with Africa-focused rival Lucara Diamond, it confirmed yesterday. London-listed Gem, which told investors last week it was eyeing acquisitions for growth, said any deal would currently be classed as a reverse takeover because recent reserve statements show its assets to be lower than Lucara’s. But Gem [...]
Heritage Oil shares surge after talk of takeover interest from the Middle East March 17, 2011 HERITAGE Oil and Gas shares leapt 8.2 per cent to 313.5p yesterday after a report that a suitor from Abu Dhabi had made an informal takeover bid. Heritage turned down the £1.2bn, or 425p per share indicative offer after receiving a letter from the group’s advisers. Shares in the FTSE 250-listed group made their highest [...]
Commodities drive FTSE 100 higher as prices tempt buyers March 17, 2011 COMMODITY stocks powered a bounce in Britain’s top shares by close yesterday, as heavy selling this week made equities look attractive from a technical perspective, with volatility set to persist. The FTSE 100 index closed 97.88 points or 1.8 per cent, higher at 5,696.11. It had fallen in each of the previous six sessions and [...]
Weak demand for commodity and bank shares drag on FTSE March 9, 2011 WEAK commodity and bank stocks dragged Britain’s leading shares index lower yesterday as oil prices climbed after intensified fighting in Libya. At the close, the FTSE 100 was down 37.46 points, or 0.6 per cent, at 5,937.30, having hit a low for the week at 5,922.66 in the afternoon before recovering. “Only a dyed-in-the-wool optimist [...]