WHAT THE OTHER PAPERS SAY THIS MORNING December 6, 2011 FINANCIAL TIMES CLARKE REJECTS CALL FOR EU POWER GRAB Ken Clarke has told Conservative eurosceptics to forget about repatriation of powers from Brussels at this week’s European Union summit, while urging David Cameron to focus on “how to maintain the financial stability of the western world.” The justice secretary’s comments, in an interview with the [...]
Glencore chief to keep stock December 6, 2011 GLENCORE boss Ivan Glasenberg said yesterday that he would not sell any of his shares in the company as long as he worked there. “None of us has sold a single share. Neither before nor after the flotation. And I’ve often said that I’m not thinking about selling any shares as long as I work [...]
Glencore in retreat from $475m deal November 30, 2011 COMMODITY trader and miner Glencore has pulled out of its planned $475m acquisition of the owner of Peru’s Mina Justa copper project, saying the seller failed to satisfy necessary conditions. Glencore, the world’s largest diversified commodity trader, had announced in July it planned to buy a 70 per cent interest in Marcobre — owner of [...]
Glencore pulls out of $475m Peru mine deal November 30, 2011 Commodity trader and miner Glencore has pulled out of its planned $475m (£305m) acquisition of the owner of Peru’s Mina Justa copper project, citing the seller’s failure to satisfy necessary conditions. Glencore, the world’s largest diversified commodity trader, had announced in July it planned to buy a 70 per cent interest in Marcobre – owner [...]
BEST OF THE BROKERS November 28, 2011 BURBERRY UBS rates the fashion brand “neutral” with a 12-month target price of £12.50, 200p lower than its previous target after the broker examined Burberry’s margins and stripped out a potential premium from M&A activity. UBS expects costs to moderate the firm’s operating margins for the next two to three years, but thinks the firm [...]
Banks and miners stem tide of FTSE losses November 24, 2011 The FTSE 100 was solid this morning as banks and miners stabilized the index which has taken a battering from the confidence sapping Eurozone crisis. Germany – seen as the kingpin in the bloc – yesterday sold just €3.6bn (£3bn) worth of 10-year bonds, from €6bn euros on offer. That sent shockwaves through markets which [...]
FTSE bounces but travel firms suffer November 22, 2011 Stability in Eurozone bond yields and short-term bargain-hunting gave London stocks some momentum today but investors remained wary after six previous sessions of losses. US markets closed down last night after the bipartisan committee nominated to find $1.2 trillion (£764m) of government spending cuts admitted it could not agree on a plan. Asian markets also [...]
Glencore gets lift from coal and copper November 17, 2011 GLENCORE International said third-quarter trading in its marketing arm was “solid” as it posted a jump in metals output and announced it had become an oil producer yesterday. The trading update calmed the jitters of some investors, who feared the company could be hit by the market turmoil that triggered a quarterly loss at rival [...]
FTSE falls as debt turmoil intensifies November 17, 2011 BRITAIN’S top share index retreated yesterday, with nervous investors ditching riskier assets such as banks and retailers, as corporates showed signs of stress in the face of the intensifying debt contagion in Europe. London’s blue chip index shed 85.88 points, or 1.6 per cent to 5,423.14, with the FTSE volatility index, up 10.2 per cent [...]
FTSE hit by soaring bank yields November 17, 2011 The FTSE 100 fell in early trading today as yields on a Spanish bond auction soared to almost seven per cent – a level considered unsustainable by economists. A warning from ratings agency Fitch that the outlook for US banks could deteriorate if the Eurozone sovereign debt crisis is not resolved also took its toll. [...]