FTSE 100 up as Chinese growth recovers January 18, 2013 The FTSE 100 was firmly up in early deals this morning, as it was lifted by headline natural resources shares on the back of a rebound in Chinese growth. The Chinese economy expanded by 7.9 per cent in the fourth quarter, coming in above expectations and marking an uptick from the 7.4 per cent recorded [...]
Evraz annual output down five per cent January 18, 2013 Crude steel production slumped by five per cent last year for Russia’s largest steel producer Evraz. Output fell to 15.9m tonnes, from 16.7m tonnes in 2011, on the back of overhauls at its Russian steel mills. The temporary suspension of production at Evraz Vitkovice’s steel shop in the Czech Republic also weighed on output over [...]
Russian freight train firm looks for London IPO January 15, 2013 FREIGHT train operator NefteTransService (NTS) is set to become the first Russian firm to join the London stock market this year. NTS Holding announced its intention to float on the main market yesterday, and a source said the firm expects to raise up to $500m (£311m) for 25 per cent of its global depository receipts. [...]
Which Russian oligarch would live in a giant house like this? January 3, 2013 IT has been hard to avoid the stories about the making of Rivendell, the fictional Hobbit colony out in New Zealand. But here is a current construction that leaves the film village looking elf-like in comparison. Russian oligarch and chairman of Evraz, Alexander Abramov, is the owner of New Zealand’s biggest, most expensive new residential [...]
Markets fly but hangover feared January 2, 2013 MARKETS around the world rallied yesterday after the US agreed an eleventh-hour deal to limit fiscal cliff tax increases and spending cuts, giving equities a much needed boost. The deal averted sharp rises in income-tax for a majority of Americans, but failed to reach any conclusion over cutting the budget deficit, leading analysts to warn the [...]
The optimists come out to play for the first day of 2013 January 2, 2013 For those hardy souls returning to work yesterday after the Christmas break the financial markets provided some welcome and slightly unexpected cheer. Talks in the US aimed at averting a stalemate on the so-called fiscal cliff succeeded (just) and a bill that many Republicans dislike because it contains too few spending cuts passed through the [...]
FTSE 100 rallies on US fiscal cliff deal January 2, 2013 Investors welcomed in the first trading day of the new year with a sharply higher blue chip index this morning, as the FTSE 100 rose around 90 points in early trading as US policymakers approved a deal to prevent the so-called fiscal cliff. Miners led the rally, with Eurasian Natural Resources, Rio Tinto, Anglo American [...]
FTSE 100 down as US budget deal hopes fade December 21, 2012 The leading share index slipped back this morning – the final full trading day before Christmas – and fell 0.7 per cent in early deals, as a deal on the US budget looked less likely. US Republican lawmakers have rejected party leader John Boehner’s proposal in the fiscal cliff talks, leading to fears that $600bn [...]
US fiscal cliff hopes lift FTSE 100 December 18, 2012 The markets were cheered this morning – the headline share index rose 0.25 per cent in early deals – on signs of progress in negotiations to avoid the imminent fiscal cliff in the US. Investors reacted positively to Obama’s counter-offer for Republicans yesterday, which included a major change in position on tax hikes for the [...]
FTSE 100 down as Eurozone outlines banking supervision rules December 13, 2012 The leading share index was trading around 0.2 per cent down this morning, as Europe finance ministers clinched a deal to give the European Central Bank new powers to supervise Eurozone banks from 2014. Energy services firm Wood Group was the biggest blue chip faller, sinking more than 2.5 per cent in early deals. In [...]