BHP Billiton is set to go on a buying spree February 10, 2010 GLOBAL mining heavyweight BHP Billiton today announced plans to ramp up its spending despite its interim profits falling victim to the commodity downturn in 2009. The FTSE 100 group posted a seven per cent drop in profit to $5.7bn (£3.7bn) in the final six months of 2009 as “significant volatility and continued uncertainty in the [...]
ANALYST VIEWS: IS BHP’S DECISION TO INCREASE CAPITAL SPENDING A SURPRISE? February 10, 2010 IVOR PETHER | ROYAL LONDON ASSET MANAGEMENT Xstrata emphasised its capital spending projects yesterday so BHP are just continuing the theme. However its joint venture with Rio has been delayed. Overall it is a good set of results although the debt level is higher than expected. The main base metals and petroleums divisions improved substantially. [...]
BHP Billiton in spending boost February 10, 2010 GLOBAL mining heavyweight BHP Billiton today announced plans to ramp up its spending despite its interim profits falling victim to the commodity downturn in 2009. The FTSE 100 group posted a 7 per cent drop in profit to $5.7bn (£3.6bn) in the final six months of 2009 as “significant volatility and continued uncertainty in the [...]
FTSE at lowest level in three months as bank shares drop February 4, 2010 WORRIES about the global economy pushed Britain’s top share index to its lowest close in three months yesterday as spiking risk aversion hammered banks and miners while energy stocks fell on weaker commodity prices. The FTSE 100 ended 113.84 points or 2.2 percent lower at 5,139.31, its lowest close since 5 November, having snapped a [...]
FTSE falls ahead of BoE decision February 3, 2010 BRITAIN’S top share index lost 0.6 per cent, snapping a three-session winning streak with investors turning cautious ahead of today’s Bank of England monetary policy decision and Friday’s US jobs report. At yesterday’s close, the FTSE 100 index was 30.16 points lower at 5,253.15 after a see-saw session, having reversed from an intraday peak of [...]
The Volvo gets cool February 2, 2010 Kaprun, Austria, and it’s 10 degrees at village level. We, however, are considerably higher than the village. At 3,700 metres, at the very top of the cable car lifts, to be precise. To climb higher involves skidoos, for which we are waiting. It seems odd being here, standing with bags and laptops, looking incongruous against [...]
FTSE hits lowest level since November on valuation fears January 28, 2010 RENEWED worries about the global economy dragged Britain’s top share index to its lowest close in nearly three months yesterday, with commodity stocks falling sharply and drugmaker AstraZeneca dipping on weak results. The FTSE 100 ended down 1.4 per cent, or 71.73 points, at 5,145.74, its lowest close since 6 November, after the index finished [...]
Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
French go back to the future January 26, 2010 REMEMBER the Citroen DS, the futuristic sensation born in 1955 and used endlessly in films of car chases in Paris in the 70s? It was all long and pointy, with a Pope mobile–like cabin, such was the rake of the windscreen and cabin glass. It’s back. Well, the name is, anyway. Citroen has relaunched the [...]
European regulators probe BHP and Rio joint venture January 25, 2010 EUROPEAN Union regulators opened a competition investigation yesterday into a planned $116bn (£71.4bn) iron ore production joint venture between BHP Billiton and Rio Tinto. The plan by Rio, the world’s second largest iron ore producer, and BHP, the third largest, to combine their Western Australian iron ore operations has been criticised by industry groups which [...]