Chinese Landwind X7 vs the Range Rover Evoque: This car looks suspiciously familiar… November 21, 2014 Executives on their way to launch Jaguar Land Rover's (JLR) new Evoque at yesterday's Guangzhou motor show could have been forgiven for ending up at the Landwind stand by mistake. For the Chinese manufacturer's latest offering, an SUV, looked suspiciously familiar. Its narrow headlights, chunky front end and trendy black alloys evoked… well, they evoked Range [...]
FTSE weighed down by poor Chinese data – London Report November 20, 2014 BRITAIN’S top share index yesterday fell for a second day, hit by weak economic data from the Eurozone and China and a profit warning from energy supplier Centrica. The blue chip FTSE 100 index closed 0.3 per cent lower at 6,678.90 points, extending its retreat from an eightweek high reached on the previous day. Centrica, [...]
Royal Mail and miners weigh heavily on FTSE – London Report November 19, 2014 THE FTSE 100 ended a four-day rally yesterday as falling iron ore prices hit mining stocks and trading updates from Royal Mail and testing firm Intertek disappointed investors. Hit by its heavy weighting in commodity-related stocks, the blue chip index underperformed European peers, dropping 12.53 points, or 0.2 per cent, to 6,696.60 points. One of the [...]
Best of the Brokers for 23 October 2014 October 22, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ARBUTHNOT Numis upgraded Arbuthot to an “add” rating, and said the group’s third-quarter trading update showed that both its businesses were “progressing well within a positive operating environment”. The broker added that there was ample resource to meet growth potential. BHP BILLITON S&P [...]
BHP Billiton share price up as miner confirms new metals firm will list in London October 16, 2014 BHP Billiton’s shares yesterday dipped briefly by almost two per cent, but finished up 0.12 per cent, after confirming that its new company would be listed on the London Stock Exchange. Andrew Mackenzie, BHP’s chief executive, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown [...]
Good China data set helps miners to lift FTSE out of slump – London Report October 13, 2014 BETTER than expected trade data from Chinese and fears over the fragile geopolitical situation yesterday helped to lift FTSE. Britain’s benchmark blue-chip index closed 0.4 per cent higher at 6,366.24 points after falling earlier in the session as far as 6,294.64. Seven out of the top 10 risers were mining companies. Anglo American rose 4.72 [...]
London Mining digs for cash as shares tank 75pc October 8, 2014 WEST AFRICA-focused London Mining shares tanked yesterday by 75 per cent, after it warned investors that their holdings were on the verge of being worthless. In a statement, the company said: “Under the structures currently proposed, the board believes that there will be little or no value remaining in the equity of the company and [...]
Glencore rules itself out of Rio Tinto bid for six months October 7, 2014 Glencore has distanced itself from a merger with rival miner Rio Tinto – forgoing the opportunity to make a formal bid for the next six months as a result. Last night Rio Tinto revealed it had firmly rejected an approach from the smaller firm, which would have created a £100bn giant, leapfrogging BHP Billiton [...]
Rio Tinto rejects Glencore’s £60bn mega-merger bid October 6, 2014 Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an approach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]
Iron miner BHP cuts costs as it builds capacity October 6, 2014 MINING company BHP Billiton is aiming to cut costs while increasing capacity at its Western Australia Iron Ore (WAIO) operation, the group announced yesterday. BHP iron ore president Jimmy Wilson told investors at a tour of the WAIO site that the firm planned to cut unit costs by “at least 25 per cent” to $20 [...]