The FTSE 100 slumps to a new yearly low amid crumbling oil prices December 15, 2014 Britain's FTSE 100 closed down again today taking the index to its lowest level this year, as crumbling oil prices and fresh concerns about Russia's economy scared investors. The FTSE 100 shed another 1.9 per cent to close down 117.9 points at 6,182.7 which was its lowest closing level since mid-2013. It fell 6.6 per [...]
Santander hires Baroness Vadera as UK chairman December 14, 2014 Baroness Vadera will replace Lord Burns as Santander’s UK chairman in March, the Spanish bank announced on Friday. She will join the board as joint deputy chairman in January, before taking the top post in March. Her appointment marks a complete change at the top of the UK arm of the group. Ex-chief [...]
FTSE tumbles on Tesco share price turmoil as banks take a hit – London Report December 9, 2014 Britain’s main equity index yesterday fell to one-month lows, hit by supermarket retailer Tesco’s fourth profit warning this year. Shares in Tesco at one stage fell as much as 17 per cent to their lowest in around 14 years, wiping some £2.6bn off the firm’s market capitalisation. It later regained some ground to close 6.6 [...]
BHP Billiton dubs new $15bn mine spin-off venture South32 December 8, 2014 ANGLO-Australian mining company BHP Billiton yesterday named its new $15bn (£9.6bn) mining spin-off – South32. The title comes from the fact that the company’s main resources are located in the southern hemisphere, namely in South Africa and Australia. Both of these areas are linked by the thirty-second parallel south line of latitude. BHP Billiton initially [...]
FTSE drops over Draghi’s lack of stimulus news – London Report December 4, 2014 BRITAIN’S top equity index fell yesterday largely due to a drop in commodity stocks and disappointment at a lack of concrete, new economic stimulus measures from the European Central Bank (ECB). The blue chip FTSE 100 index closed down by 0.6 per cent, or 37.26 points, at 6,679.37 points. The ECB slashed its growth and [...]
Antofagasta names chief December 3, 2014 CHILEAN miner Antofagasta yesterday appointed Ivan Arriagada Herrera as chief executive of its mining division. Arriagada, 51, takes up the role at the helm of Antofagasta Minerals with effect from 16 February 2015. He joins from Codelco, where he has been vice-president of administration and finance since 2012. He has also worked at BHP Billiton [...]
Oil and China data weigh on FTSE as it suffers 1pc fall in day – London Report December 1, 2014 BRITAIN’S top share index yesterday dropped to its lowest in two weeks, as commodity shares slumped and Vodafone fell on speculation it is considering possible acquisitions. The FTSE 100 closed down one per cent to 6,656.37 points, after falling as low as 6,637.39, the lowest since 17 November. Vodafone fell 2.9 per cent to 227.20p [...]
Best of the Brokers for 01 December 2014 November 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BHP BILLITON Morgan Stanley analysts have upped their target price for the natural resources company from 2050p to 2200p and kept their “overweight” rating. “It ranks well versus diversified mining and oil peers,” the analysts said. DIXONS CARPHONE Deutsche Bank has upgraded its [...]
FTSE ends flat as travel firms weigh on index – London Report November 26, 2014 BRITAIN’S top share index closed flat on Wednesday, erasing early gains, with weaker travel and leisure stocks offsetting a rebound in miners and strength in telecoms. The blue chip FTSE 100 index ended 1.97 points lower, or flat in percentage terms, at 6,729.17 points after hitting a session high of 6,765.01 in early trading, as [...]
Petrofac slump weighs on FTSE amid M&A flurry – London Report November 24, 2014 BRITAIN’S top share index edged lower yesterday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high. Smith & Nephew and Friends Life were said to be likely subjects for bids, and BT confirmed it might expand into mobile communications. The benchmark FTSE [...]