THE TIPSTER August 29, 2011 MINER Glencore has had a real fall from grace since coming to the market back in May at over £5. In fairness, as with any high beta stock, when the market falls, they generally follow suit. One thing is clear, it is still are very ambitious and acquisitions are still the aim of the game [...]
Glencore eyes South African Optimum Coal August 25, 2011 SOUTH AFRICAN miner Optimum Coal has become the latest acquisition target for Glencore as the company looks to benefit from recent economic turmoil that has prompted a sell-off in the markets. Sources close to City A.M said that the commodities trader has set its sights on buying South Africa’s sixth-largest coal producer and is preparing [...]
ANALYST VIEWS: WERE GLENCORE’S RESULTS ON TRACK? August 25, 2011 GRANT SPORRE |DEUTSCHE BANK In our assessment, Glencore’s share price, along with many of its peers, is factoring in a cautious view on commodities. Although market expectations, including our own, are fairly modest for the H1’11 period, a solid result for the marketing division will begin to build investor confidence in the sustainability. MICHAEL SHILLAKER [...]
Glencore half year profits jump 50pc August 25, 2011 Commodities trader Glencore met forecasts with a 50 per cent rise in first-half profit thanks to rising commodity prices and rosy oil trading conditions in the first months of the year, and said it remained optimistic on global growth. “The short term volatility caused by renewed bearishness on sovereign debt in developed markets is of [...]
Glencore bids for Australian nickel miner August 24, 2011 SWISS mining giant Glencore has launched a A$268m (£171.5m) bid to gain outright control of one of Australia’s largest nickel miners, Minara Resources, in a move that marks its second acquisition since its flotation in May. The global commodities trader said yesterday it is offering A$0.87 in cash for Minara shares, of which it already [...]
Commodities giant still hungry for buyouts August 24, 2011 GLENCORE has hit the acquisition trail for the third time since going public in May. This time it is offering A$268m for the 27 per cent of shares it doesn’t already own in Minara, the Australian nickel miner. By paying a 36 per cent premium on Minara’s pre-bid price, Glencore is making it clear that [...]
Apple reaches top of the world – but will it stay there? August 22, 2011 @steve_dinneen LAST week Apple achieved what even a year ago seemed all-but impossible – it became the biggest company in the world. In shuffling, albeit briefly, past oil giant Exxon Mobil, it joined an ultra-exclusive club of just 10 companies to have held the top spot in the history of the S&P 500. And unlike [...]
The silver lining to losing out on Potash August 21, 2011 THIS time last year, BHP Billiton shareholders were struggling to understand the mining giant’s rationale behind bidding $40bn (£24.3bn) for a fertiliser company. Investors were left aghast after the firm became embroiled in an ugly, and ultimately unsuccessful, hostile bid for Potash Corp that cost them $350m in advisory fees alone. After they raised concerns [...]
Miners eye Colombia growth August 18, 2011 ANGLO American, Xstrata and BHP Billiton have approved a $1.3bn (£789m) expansion of the Cerrejon mine, home to one of the world’s largest coal deposits, in Colombia. The diversified miners said yesterday they would invest equal amounts in the project that will increase production and export capacity by 8m tonnes per annum (mtpa) to 40 [...]
Biggest one-day FTSE 100 fall in more than two years August 18, 2011 BRITAIN’S top shares dropped yesterday in their worst one-day fall since March 2009, led by banks on concern the growth outlook for global economies was slowing and worries about contagion in the Eurozone debt crisis. Stocks extended falls after August factory activity in the US Mid-Atlantic region dropped to its lowest level since March 2009, [...]