It’s loud and fast, but wide of the mark April 28, 2014 Peter Burgess failed to fall in love with the original F-Type – can the coupé version convince him otherwise? WE’VE HAD our issues, Jaguar and I, over the F-Type. Like the Emperor’s new clothes, all the press seemed bowled over, except for me. Sure, it’s mighty fast and incredibly sexy. But does it really need [...]
BHP raises iron ore target after record output April 16, 2014 BHP BILLITON yesterday lifted its full-year production guidance for iron ore and metallurgical coal, having achieved record levels during the first nine months of the year. The FTSE 100-listed mining giant said the continued ramp-up of the Jimblebar mine in western Australia and the relatively limited impact of the wet season meant it is raising [...]
Analyst Views: What did you make of BHP Billiton’s operational review? April 16, 2014 RICHARD KNIGHTS | LIBERUM They’ve upgraded their iron ore and coal production targets, which is a slight positive. BHP is doing what most companies are doing in the face of low prices – increasing output to reduce unit costs. I expect the firm will announce an iron ore expansion programme at the end of the year. [...]
Best of the Brokers for 15 April 2014 April 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AO WORLD Numis has launched its coverage of the appliances retailer by urging investors to “buy” with a target price of 350p. The broker believes the recently listed firm could take up to 40 per cent of a growing online market as more [...]
Confessions of a shopaholic: Debt-struck Glencore splashes out on Caracal Energy April 14, 2014 Miner trader Glencore Xstrata has today agreed to buy Chad-focused oil company Caracal Energy for around $1.3bn (£780m), usurping a potential deal between Caracal and Canada’s TransGlobe Energy. City A.M. understands that the FTSE 100 firm will fund the acquisition with some of the proceeds from the (upwards of) $6.25bn sale of Peruvian copper mine [...]
Seplat launches £301m London and Lagos float April 9, 2014 NIGERIAN oil and gas explorer Seplat yesterday said it has raised £300.9m in its initial public offering in London and Lagos, valuing the company at around £1.14bn. The deal is London’s biggest oil industry flotation in years and will provide a significant boost for Nigeria’s energy sector, which has seen an exodus of international players [...]
Rame Energy to list on Aim as it targets Latin America expansion April 3, 2014 RAME Energy, an energy consultant, engineer and power generator, is listing on Aim today to finance new projects in Chile. The company, which provides power generation solutions to firms including Anglo American, Barrick Gold and BHP Billiton, is raising up to £2.1m to fund its participation in three wind projects in Chile with a combined [...]
Rio Tinto hires new head of strategy April 3, 2014 Rio Tinto has hired former BHP Billiton executive Peter Toth as its new head of strategy, a spokesperson from the miner confirmed to City A.M. yesterday. He will be reporting to finance chief Chris Lynch. Toth resigned as boss of manganese miner OM Holdings in January.
London Report: Rise in miners and banks helps drive FTSE to 3-week high April 2, 2014 BLUE chip shares inched higher yesterday, propped up by cyclical banks and mining companies on encouraging economic news in the United States. The FTSE 100 ended up 6.43 points, or 0.1 per cent, at 6,659.04 points, its highest close since 11 March, with the UK banking index up 0.7 per cent, and the mining index [...]
Miner BHP lifted by plan to spin off $20bn arm April 1, 2014 MINING giant BHP Billiton’s share price climbed over two per cent yesterday, after it confirmed that it is considering spinning off a portfolio of non-core assets. “We believe that a portfolio focused on our major iron ore, copper, coal and petroleum assets would retain the benefits of diversification, generate stronger growth in free cash flow [...]