Post-COP26 beating: All eyes on mining firms today after investors dump stocks on merciless Monday November 16, 2021 Investors yesterday dumped mining stocks as the future of coal looks bleak during the first day of trading on the London Stock Exchange since the COP26 agreement was signed over the weekend. Several big names saw falls, including Evraz down 16.8p at 603.2p; BHP down 37.4p at 1923.4p; Antofagasta down 28p at 1,460p and Anglo [...]
Shell moves to UK and ditches ‘Royal Dutch’ name amid lengthy tax dispute and activist pressure November 15, 2021 Royal Dutch Shell is moving its headquarters, top executives, and crucially, its tax residence from The Hague to the UK. The move prompted the Dutch government to overhaul a controversial dividend tax which the energy giant had cited as a reason to unify its share structure and shift bases, according to the Financial Times. Shell [...]
Dividends scale to new heights as companies shake off pandemic hangover November 15, 2021 Companies are rewarding shareholders with record levels of dividends as corporate balance sheets shake off the hangover of the Covid-19 crisis. Firms paid shareholders $403.5bn in dividends in the third quarter of the year, the highest total ever recorded for the three months to September, research by Janus Henderson has found. Dividends are 22 per [...]
BHP pockets £1bn after offloading coal unit in COP26 push to lower emissions November 8, 2021 BHP said this morning it struck a £816m deal to sell its 80 per cent interest in BHP Mitsui Coal (BMC), an metallurgical coal joint venture in Queensland, Australia. A subsidiary of Stanmore Resources Limited will acquire 100 per cent of the shares in Dampier Coal (Queensland) from BHP Minerals, the subsidiary which holds BHP’s interest in [...]
Markets: Standard Chartered, Flutter and miners put FTSE 100 in a hole November 2, 2021 The FTSE 100 is down this morning, weighed on by Paddy Power owner Flutter and Asia-focussed bank StanChart. The blue-chip FTSE 100 index eased 0.5 per cent after closing at fresh February 2020 highs yesterday, while the UK-centric mid-cap index slipped 0.2 per cent. Miners BHP, Rio Tinto and Anglo American were among the worst performers on [...]
Miner BHP leaves annual production outlook unchanged October 19, 2021 Mining giant BHP has left its annual production outlook unchanged despite its iron ore production being hit by labour shortages. The FTSE 100 firm reported on Tuesday that total iron production dropped four per cent to 63.3m tonnes for the quarter ended September 30. This was a decline from 66.04m tonnes in the previous year. [...]
Return to growth fails to lift FTSE 100 as investors brace for BoE rate hike October 13, 2021 A return to economic growth in the UK was not enough to lift the FTSE 100 this morning as investors mulled whether the upbeat data would push the Bank of England to hike rates this year. The capital’s premier index dipped 0.45 per cent to 7,098.19 points. The UK economy grew 0.4 per cent in [...]
Billiton knocks FTSE 100 October 6, 2021 Mining company BHP Billiton, along with other oil stocks, helped drag the FTSE 100 down 1.4 per cent after it revealed that damage by Hurricane Rita would lead to lower oil production than previously forecast. The company said it would produce 10m fewer barrels of oil this year than it had previously stated. The company [...]
BHP braces for backlash by investors over climate plan September 28, 2021 Shareholders in mining giant BHP have been advised to vote against the company’s carbon emission plans, ahead of its annual general meeting in London next month, according to reports. In a report shared with investors Glass Lewis, the influential proxy adviser, questioned the scientific basis of BHP’s Climate Transition Action Plan and said there was [...]
Prudential turns gaze to Asia in fresh £2bn share sale September 19, 2021 Insurer Prudential is planning to offer fresh shares on the Hong Kong stock exchange to raise £2bn as it continues to shift its focus away from the UK. The proceeds will be used to pay off debt and capitalise on investment opportunities in Asia and Africa, the 173-year old insurer said. Prudential will offer nearly [...]