London Report: Third straight day of gains sees FTSE erase 2014 losses February 18, 2014 BRITAIN’S top equity index erased its losses for the year as it rose for a third straight session yesterday, boosted by BHP Billiton and telecoms giant BT. Shares in global mining firm Billiton rose 1.9 per cent after first-half profit beat forecasts and it hinted at a share buyback in August, despite a cautious outlook [...]
What you need to know before the US open February 18, 2014 US stock futures point to a mixed open, following a three-day weekend. The first economic data in this week show the Empire Manufacturing Index, which gauges business activity for manufacturers in New York, fell from 12.51 to 4.48 in February. Analysts had expected a reading of 8.5. Outlook’s better, though – companies surveyed are expecting [...]
What you need to know before the open – 18/02 February 18, 2014 European equities are expected higher today, with investors banking on affirming economic sentiment data, in the form of Germany’s ZEW survey. Also in focus is UK inflation data at 9.30 this morning. In Asia, Tokyo stocks jumped 3.1 per cent – their best session since August – after the Bank of Japan confirmed it’s keeping [...]
Global recovery boosts profits for BHP Billiton February 17, 2014 PROFITS soared at mining giant BHP Billiton in the six months to the end of 2013, the group reported last night, as the economic recovery boosted demand. Net profit for the half-year jumped 83 per cent to $8.1bn (£4.8bn) as rising volumes and falling costs combined to increase profitability. Revenues increased 5.7 per cent while [...]
European Report: Shares climb to highest level since January February 17, 2014 EUROPEAN shares climbed to a three-week high in thin volumes yesterday, extending a strong two-week rally fuelled by record inflows from a greater number of investors betting on the region’s economic recovery. Data showing brisk lending in China, the world’s biggest metals consumer, boosted miners, with BHP Billiton and Glencore Xstrata rising 1.2 per cent [...]
London Report: Inflation data to show economy improving in UK February 16, 2014 INFLATION figures due out tomorrow are expected to show further signs of improvement for the UK’s economic recovery. With the cost of living down, consumer prices inflation (CPI) may now be below two per cent. Jonathan Loynes, of Capital Economics said: “CPI inflation looks set to fall below the two per cent target in January [...]
Glencore enjoys surge in copper production as zinc and lead disappoint February 11, 2014 Mining giant Glencore has reported a surge in copper production of 26 per cent to 1.5m tonnes, while coal output rose four per cent in the year to 31 December. The strong performance of copper and coal helped offset weaker results from zinc and lead. Zinc output fell by nine per cent while lead suffered [...]
BHP vows higher shareholder returns as production soars January 22, 2014 BHP BILLITON’S iron ore expansion plan went full throttle in the second half of the year, with the miner posting record production from its West Australian mines and a 19 per cent rise in output. The FTSE 100-quoted miner’s West Australian operation benefited from the early delivery of first production from the Jimblebar mine, which [...]
What you need to know before the open – 22/01 January 22, 2014 European equities are expected stronger today, as US stock futures increase and improving Asian shares see investors relaxing a bit. Davos continues today, with world leaders debating the crucial economic questions of the day. With something of a dearth of economic data this week, investors continue to watch the various earnings reports out. SUGGESTED [...]
Iron ore prices are set to crash by 40pc. Here’s why December 13, 2013 Demand for major commodities was strong this year, but supply topped it. When it came iron ore, demand outweighed supply on a relative basis because it was stronger and there was marginal shortage in the market, but many analysts don't expect that to remain the case. By 2015, Goldman forecasts "major oversupply" of iron ore, [...]