ENRC shares lead FTSE on Glencore talk June 13, 2011 SHARES in Eurasian Natural Resources Corporation (ENRC) jumped 4.65 per cent yesterday following rumours that Glencore is planning a £12bn takeover bid. The Kazakh miner was the biggest riser in the FTSE 100 after reports that Glencore held talks in recent weeks with ENRC’s three billionaire shareholders Alexander Mashkevitch, Patokh Chodiev, and Alijan Ibragimov, who [...]
Miners lift FTSE amid talk of ENRC takeover June 13, 2011 MINERS dug deep to help lift Britain’s FTSE 100 share index marginally yesterday, as bid talk swirled around Kazakh miner ENRC. ENRC rose 4.7 per cent, outperforming a 0.2-per cent rise on the British mining index, after the Sunday Times said commodities trader Glencore was considering a £12bn takeover bid. ENRC shares have been savaged [...]
Glencore unlikely to move soon on ENRC June 12, 2011 GLENCORE yesterday played down suggestions it would launch a takeover bid for Kazakh miner ENRC, but sources close to the firm would not rule out making an offer in the future. Top executives at ENRC, which last week sacked two of its directors and saw two more stand down in a row over corporate governance, [...]
Uncertain outlook could reap rewards June 12, 2011 WITH four recent departures and a rumoured fifth in the works, the board of ENRC is looking anything but steady. Already trading at a discount after buying disputed mining rights in the Congo last year, its shares plummeted by more than seven per cent on Friday in the wake of the shareholder vote. With a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
FTSE falters as retailers slide June 9, 2011 Stocks defied downbeat expectations to post gains this morning but have since downhill after a number of UK retailers said sales were falling. Heavyweight banking stocks are also down following yesterday’s Treasury Select Committee debate over whether to ringfence their operations, and Vince Cable’s attack on their lending levels on Tuesday. State-backed Lloyds Bank is [...]
Four directors to leave ENRC June 8, 2011 KEN Olisa, one of two directors yesterday voted off the board of resources group ENRC after voicing corporate governance concerns at the FTSE 100 company, said the firm must be “pretty vulnerable” to an investigation by the UK listing authorities. Olisa told City A.M.: “When we went public the people selling shares made commitments that [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 12, 2011 FINANCIAL TIMES LLOYDS’ BISCHOFF COUNTERS CALLS FOR CHANGE The chairman of Lloyds Banking Group has countered suggestions from some investors that he should step down ahead of the bank’s reprivatisation. “In one or two years I suspect I’ll still be here,” Sir Win Bischoff told the Financial Times. The government is expected to begin selling [...]
FTSE buoyed by upbeat corporate results April 26, 2011 Strong corporate results and positive broker research buoyed the FTSE today, leading the market to its highest close in more than two months. The FTSE 100 closed 0.9 per cent higher at 6.069.36 in low volumes following the long Easter weekend and ahead of a second four-day weekend to celebrate the Royal wedding and Mayday. [...]
FTSE at two-week low as banks and Reckitt fall April 14, 2011 The FTSE returned to a downward path today to close at a two-week low after household goods giant Reckitt Benckiser broke the news that its chief executive had unexpectedly stepped down. The FTSE 100 lost 46.6 points or 0.8 per cent to close at 5,963.80 as banks and miners also suffered, with fears over Asian [...]