Oil prices hit six-year lows as global commodities rout continues August 24, 2015 As global equities continue to plummet, commodities are doing the same. After Bloomberg's commodity index sank to a 16-year low overnight, oil prices continued their rout this morning, with both WTI and Brent crude falling to six-and-a-half year lows. Read more: Black Monday? FTSE edges towards 6,000 Brent crude was down 3.65 per cent at [...]
BHP Billiton expected to cut costs as profits tumble on low prices August 23, 2015 MINING giant BHP Billiton is set to slash its capital expenditure for the next year as volatility in the commodities sector continues to drag global markets, analysts have warned. The company will announce its results for the 2015 financial year tomorrow, and analysts expect the firm’s income to have tumbled over the 12 months. Meanwhile, [...]
UK gambling firms bet on strong results – London Report August 23, 2015 UK SALES data and GDP estimates are due out this week, while on the corporate calendar several bookmakers are set to issue results, with both 888 Holdings and its takeover target Bwin.party due to report on Friday. Tomorrow, the British Bankers’ Association will release its latest mortgage approvals data, while on Wednesday, Nationwide will publish [...]
Miner Glencore and China lead FTSE to seven-month low – London Report August 20, 2015 THE FTSE 100 fell yesterday to its lowest level since January, hit by anxiety over metals consumer China’s economy, with Glencore leading the mining sector lower after poorly-received results. The blue chip index was down 122.84 points, or 1.9 per cent, at 6,403.45 points by the close – its lowest closing level since 15 January, [...]
FTSE 100 closes at its lowest level in seven months August 19, 2015 Today, the FTSE 100 closed at 6,403 – its lowest value in over seven months. The last time it fell below this was 14 January, when it finished the day at 6,388. Read more: FTSE 100 gives up gains for the year Mining companies suffered the most, with shares in Rio Tinto, Anglo American [...]
FTSE falters as miners and oil stocks crumple – London Report August 19, 2015 THE FTSE 100 ended lower for a sixth consecutive session yesterday, dragged down by mining stocks as copper prices continue to trade near six-year lows. The blue chip index ended down 0.38 per cent, or 24.01 points, at 6,526.29, more than eight per cent below its record high of 7,122.74, reached in April. However, the [...]
FTSE closes flat but miners fall to six-year low – London Report August 18, 2015 BRITAIN’S top share index closed flat yesterday, weakened by US data and by mining companies hitting multi-year lows. The FTSE 100 index closed down a tiny 0.007 per cent – or 0.44 points – at 6,550.30. This followed the release of a survey which showed manufacturing activity in New York state at its weakest level [...]
FTSE lags European markets as commodities are hit again August 17, 2015 The FTSE 100 was the only European market not to make gains this morning, falling 0.25 per cent to 6,534 points, after China's decision to devalue its currency continued to hit commodities. The index was pulled down by Randgold Resources, BP and BHP Billiton, as well as Glencore, whose share price fell 0.64 per cent [...]
China currency move pulls on mining stocks – London Report August 12, 2015 LUXURY goods firm Burberry was one of the hardest hit UK firms yesterday, after China devalued its currency, raising the costs of imports. The FTSE 100 closed down 1.1 per cent. Weakness in commodity stocks has contributed to recent declines in the index, which is now more than six per cent off April’s record high. [...]
Chinese shock leaves the FTSE 100 nursing losses after renminbi devaluation August 12, 2015 The FTSE 100 fell by 72 points yesterday as luxury goods and mining firms suffered from China’s unexpected devaluation of the renminbi. The Chinese devaluation, news of which broke after the FTSE closed on Monday night, saw Burberry shares open 12p down on the previous day at 1,595p, before falling throughout the day to [...]