Markets stumble as China throws sand into the gears of recovery August 19, 2021 European stocks have come under further pressure today, in sharp contrast to last week. The falls appear to be being driven by several factors, so you can pick your poison to a certain extent, however the prospect of a Fed taper is unlikely to one of the main factors, given that US yields are lower, [...]
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
Top investors criticise BHP as it slashes dual nationality August 18, 2021 The FTSE 100 is set to lose its biggest company as miner BHP ditches its Anglo-Australian dual structure in favour of listing on Sydney’s stock market. Today, L&G which owns a 1.9 per cent stake in the company, said that the news BHP will give up its listing is “disappointing.” “Today’s announcement is very significant [...]
Weaker than expected retail sales drags Wall Street down August 17, 2021 US stocks edged down during the open today after official figures showed US retail sales were much weaker than expected in July. The blue-chip S&P 500 dropped 0.55 per cent to 4,455.46 points and the Dow Jones lost 0.83 per cent to fall to 35,328.87 points. The tech-heavy Nasdaq extended the traditional benchmark’s losses to [...]
London loses out: BHP slashes dual nationality – CityAM : CityAM August 17, 2021 The FTSE 100 is set to lose its biggest company as miner BHP ditches its Anglo-Australian dual structure in favour of listing on Sydney’s stock market. The news comes as the blue chip company announced it would exit the petroleum business through a merger with Australia’s Woodside Petroleum, in a deal which will see Woodside [...]
BHP confirms Woodside merger, after shareholders bag $15bn payday August 17, 2021 Energy giant BHP has posted a record final dividend of $2 per share, which has raked in a $15bn payday for its shareholders in the past year. In a set of upbeat financials, BHP pulled in $25.9bn in profit from its operations in the year to 30 June, up from $14.4bn last year. The profit [...]
FTSE: Ultra and Future soar but it’s not enough to lift London’s main index August 16, 2021 The FTSE 100 started off the week with a fall, as a rout on energy and mining shares could not be undone by a surge in the shares of Ultra Electronics and publishing house Future. The blue-chip FTSE 100 dropped 0.8 per cent, dragged down by miners Glencore, Anglo American and Rio Tinto and oil majors BP and Royal Dutch [...]
BHP mulls selling its petroleum division and it could fetch $15bn August 16, 2021 BHP is mulling a merger which would offload the company’s petroleum division for as much as $15bn amid growing environmental pressure. Today, the mining giant said it had “initiated a strategic review” of its multi-billion dollar Petroleum business to “re-assess its position and long-term strategic fit in the BHP portfolio.” The statement confirmed that a merger [...]
Wall Street lifted by Covid-era low jobless claims August 5, 2021 US stocks opened up sharply on Thursday morning after investors were boosted by fresh data showing the American labour market recovery still has legs. The blue-chip S&P 500 gained 0.43 per cent to reach 4,421, while the Dow Jones shot up 0.6 per cent to 34,998. The tech-heavy Nasdaq notched the best performance out the [...]
Court of Appeal reopens landmark £5bn lawsuit against BHP for Brazil dam collapse July 27, 2021 London’s Court of Appeal has today decided to reopen a historic £5bn lawsuit against mining giant BHP over the collapse of a dam in Brazil in 2015. In an unexpected u-turn, the court said that a group of 200,000 claimants would be able to appeal against a lower court’s decision to throw the case out [...]