FTSE falters as miners and oil stocks crumple – London Report August 19, 2015 THE FTSE 100 ended lower for a sixth consecutive session yesterday, dragged down by mining stocks as copper prices continue to trade near six-year lows. The blue chip index ended down 0.38 per cent, or 24.01 points, at 6,526.29, more than eight per cent below its record high of 7,122.74, reached in April. However, the [...]
Production flat but shares rise on Evraz tender April 20, 2015 RUSSIAN steelmaker Evraz, which counts Roman Abramovich as its majority shareholder, said production volumes remained flat in the first quarter yesterday. The company, which is chaired by the Chelsea FC owner, said consolidated crude steel output was stable at 3.9m tonnes with its mills at full capacity. The production of steel products, net of re-rolled [...]
Steel group to buy back $375m worth of shares April 1, 2015 STEEL manufacturer Evraz announced a share buy back worth up to $375m (£253m) yesterday, after revealing a loss of $1.28bn for 2014. The Russian firm, whose biggest shareholder is Chelsea FC owner Roman Abramovich, blamed currency issues in part for the hit on profits, which was more than double than the $551m loss posted in [...]
US data and high street giants lead for coming week – London Report March 29, 2015 INVESTORS this coming week will be digesting a flurry of global economic data and corporate results from a number of prominent UK retailers. The focus is likely to continue to be on US economic indicators, given recent concerns about a slowdown in growth in the first quarter, such as consumer confidence, spending and personal income. [...]
Consumers win with rise in jobs and earnings – London week ahead January 18, 2015 UNEMPLOYMENT is falling while earnings are rising, figures out this week are expected to show, sending good news for consumers. Data due out on Wednesday is likely to show the labour market continuing to strengthen. Howard Archer, of IHS Global Insight, said: “We expect claimant count to have fallen by 25,000 in December to stand [...]
Arsenal co-owner Alisher Usmanov is no longer Russia’s richest man January 7, 2015 Billionaire Alisher Usmanov has lost his claim to the title of Russia’s richest man after losing a quarter of his fortune last year as the country’s oligarchs felt sanctions and the rouble crisis bite. Usmanov, who owns a 30 per cent stake in Arsenal, lost $4.5bn (£3bn) between March and December last year, falling from [...]
Plunging oil prices weigh heavily but Carpetright soars – London Report December 15, 2014 London stocks fell yesterday, with the FTSE 100 down for a sixth consecutive session, as equities markets failed to hold on to an early rally as fears about sliding oil prices and demand for other basic commodities took hold once more. The FTSE 100 ended down 1.9 per cent, or 117.91 points, at 6,182.72, with [...]
Evraz share price dips as Roman Abramovich-backed miner aims to raise $350m in note offering November 3, 2014 Russian steel-making and mining company Evraz announced yesterday that it is aiming to refinance a portion of its debt with an offering of 7.5 per cent of secured notes worth $350m (£219m) through its Canadian subsidiary EICA. According to Evraz, which is headquartered in London, the notes will be guaranteed by Evraz North America and one [...]
Consumers win as UK inflation continues to fall – London Report October 12, 2014 Consumers are winning out as low petrol prices and the continuing supermarket price war drive inflation down. Data out tomorrow is expected to show consumer price inflation for September fell to a five-year low of 1.4 per cent – well below the Bank of England’s target rate of two per cent. However, weak earnings growth [...]
London Report: Consumers upbeat as momentum of recovery continues August 25, 2014 THE GFK consumer confidence survey, CBI Distributive Trades Survey and Nationwide house price data are the key economic reports in a quiet end-of-summer week before next week’s slew of rates, statistics and money supply data. Analysts expect consumer confidence to remain high, showing the continuing economic recovery. Today’s results come from Antofagasta, Bunzl, Kentz, Petrofac, [...]