Investec Comment: A smooth ride post management buy-out October 4, 2015 Mark Cornford, managing director of Integrity Print, and Gary Edwards, Growth & Acquisition Finance at Investec, discuss the support that companies need from their bank following a management buy-out (MBO). What issues did your company face post-MBO? MC: Managers can become over-confident with what they can achieve in the marketplace. I always had belief [...]
Glencore non-executive director William Macaulay has bought 1.7m company shares October 2, 2015 First Reserve chairman and chief executive William Macaulay has bought more than £1.5m-worth of Glencore shares. Macaulay, who has been an independent non-executive director at the troubled miner and trader since 2011, has picked up 1.7m shares, at a price of 90.9p. It comes just two days after Glencore's chairman Tony Hayward [...]
Prix de l’Arc de Triomphe 2015 odds: Treve all set to rewrite history books in Paris October 2, 2015 No horse has ever won the Prix de l’Arc de Triomphe (2.55pm) more than twice in the race’s 95-year history, but wonder-mare TREVE looks impossible to oppose in her hat-trick bid on Sunday. The daughter of Motivator became the first since Tantieme (1951) to land back-to-back runnings 12 months ago and can be backed [...]
Glencore share price rises after chairman Tony Hayward buys more shares September 30, 2015 This is either a vote of confidence in the company's prospects, or a baby step towards a surreptitious management buyout – either way, one Glencore exec has decided to increase his stake in the commodities miner and trader today. Glencore chairman Tony Hayward has hoovered up an additional 100,000 shares at 91p per share, according to [...]
Global markets on track for worst quarter since 2011 September 30, 2015 The commodity price rout, fresh concerns over the Chinese economy as well as its shock devaluation, and the prospect of the first interest rate rise from the US Fed since 2006 are some of the factors which made this summer a white knuckle ride for investors. Given this, it's hardly surprising that global markets are [...]
Glencore insists it is “operationally and financially robust” as share price continues to tumble September 30, 2015 Glencore has issued a statement insisting it is "operationally and financially robust" as the mining giant struggles to overcome its recent woes. The Anglo-Swiss commodities trader – whose share price has fallen more than 73 per cent since the start of the year, making it by far the worst performer on the FTSE 100 [...]
Global markets on track for worst quarter since 2011 September 30, 2015 The commodity price rout, fresh concerns over the Chinese economy followed by its shock devaluation, uncertainty surrounding the Greek bailout deal, the prospect of a September interest rate rise from the Fed were some of the factors that made this summer a white knuckle ride for investors. Federal Reserve's first interest rate rise since 2006. [...]
Glencore share price rebounds in late trading – after it plunges 30 per cent in Hong Kong September 29, 2015 Shares in embattled commodities miner and trader Glencore closed up 17 per cent to 80.25p per share today after extending gains just before the close. Glencore shares soared around 19 per cent to 81.53p this afternoon, following an assurance from the company that it's "financially and operationally robust". Earlier today Nigel Wilson, chief executive of Legal [...]
City confidence in Glencore evaporates as share price plunges amid China woes and commodity troubles September 29, 2015 The last week of trading in September has been particularly harsh for Glencore as the company has seen its price crash through the £1 level and officially turn into a “penny share”. As confidence in the Chinese economy’s ability to halt the slide in growth continues to wane, optimism for mining sector stocks has been [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]