What you need to know before the open April 1, 2014 European markets are expected to make a positive start to the day, with investors hopeful of US and Chinese stimulus to counter economic slowdown. Corporate data UK broker ICAP has announced a fall in revenue for February and March of 14 per cent. The company believes it will achieve results in line with market expectations, [...]
BHP Billiton reacts to demerger speculation April 1, 2014 BHP Billiton has issued a statement in response to so-called “market speculation” about its decisions on simplifying its portfolio. The response comes after the Australian Financial Review reported that the miner has been weighing up different options for over a year, including spinning off non-core assets, in a move that could see a new $20bn [...]
What the other papers say this morning – 31 March 2014 March 31, 2014 FINANCIAL TIMES SocGen accused over Libya deals The Libyan Investment Authority has accused Société Générale of helping to funnel bribes worth tens of millions of dollars to close associates of Saif al-Islam, the son of former Libyan leader Muammer Gaddafi. The claim was made in a $1.5bn lawsuit filed against the French bank in London’s [...]
London Report: Ukraine strife and China data hit FTSE shares March 24, 2014 BRITAIN’S top share index fell yesterday on concerns about the situation in Ukraine and a slowdown in Chinese growth, while energy providers were hit by worries they may be forced to break up their businesses. The blue-chip FTSE 100 index ended 0.6 per cent lower at 6,520.39 points, falling for nine of the past 12 [...]
Miners take a tumble as China’s credit growth slows even more March 10, 2014 Weak trading data from China – exports unexpectedly fell 18.1 per cent in February from a year earlier, and imports rose 10.1 per cent – has hit miners this morning. BHP Billiton’s down almost two per cent, with Anglo American and Glencore Xstrata both down over one per cent, and Rio Tinto down almost one [...]
London Report: FTSE falls again as tensions in Ukraine make traders wary March 5, 2014 THE UK’S top share index fell again yesterday after rebounding from two-week lows in the previous session, with updates from some companies disappointing investors and tensions over Ukraine weighing on sentiment. Engineering turnaround specialist Melrose fell 7.8 per cent, the top decliner on the FTSE 100 index, after warning of challenging market conditions and saying [...]
Africa Oilfield hires new chief March 3, 2014 Aim-quoted Africa Oilfield Logistics, the Africa-focused support services and logistics company co-founded by ex-England cricketer Phil Edmonds and businessman Andrew Groves, yesterday said it has hired Carl Esprey as its new chief executive, replacing Groves who held the position on an interim basis. Esprey previously worked at Anglo-Australian mining giant BHP Billiton and asset manager [...]
Markets are spooked: FTSE 100 falls to two-week low March 3, 2014 The FTSE 100 share index fell 108 points at the open, now down 1.1 per cent at 6,733. Cyclical shares have taken the biggest hit, as investors lose their appetite for risk, in the face of the escalating crisis in Ukraine. Other European markets are also in the red. The German DAX fell 1.8 per [...]
London Report: FTSE dragged back by weak mining sector February 25, 2014 LONDON-listed mining shares fell further yesterday, putting pressure on the blue-chip FTSE 100 index, which snapped a seven-session winning run. Mining shares recorded their biggest one-day slide in a month, amid concern that slower growth and lending curbs on the property sector in China would hurt metals demand. The FTSE 100 index, which touched its [...]
BHP finance chief bullish on US as shale brings industrial revival February 23, 2014 THE CHIEF financial officer of BHP Billiton has said he is confident of a “real” US economic recovery, backing up the mining giant’s decision to invest in what he called the country’s “transformational” shale market. “US unemployment is coming down steadily, consumer confidence is up and consumption is up,” Graham Kerr told reporters last week. [...]