A sorely needed IPO success story May 24, 2011 London’s float market badly needed a success story after a run of false starts and postponements this year. And Glencore’s moderate price movement during its first day’s trading seems to have supplied just that. Observers looking for a superstar rally, to fit hype from bankers last week that a five to 10 per cent rise [...]
GLENCORE BOSS’S BRIEF ENCOUNTER AT CHELSEA May 24, 2011 IT WAS unseasonably cold at the preview of this week’s Chelsea Flower Show – so the Queen, mindful of her constitution, didn’t stop to admire every single show garden. However, she did manage to drop in on the Royal Bank of Canada’s New Wild Garden, designed by Nigel Dunnett of The Landscape Agency, where Lynn [...]
FTSE rallys on commodities but Eurozone doubts linger May 24, 2011 BRITAIN’S top shares rose yesterday as rallying commodity stocks helped the index recover some of its poise, but the advance may be short-lived as investors find themselves hemmed in by Eurozone debt concerns. The FTSE 100 closed up 22.52 points or 0.4 per cent at 5,858.41, having hit a two-month closing low on Monday after [...]
FTSE rebounds but Wall St fall goes on May 24, 2011 UK stocks rebounded today as miners regained ground after grim falls yesterday, though final gains were small. The FTSE 100 ended the session 0.4 per cent higher at 5,858.41 but recorded a high of 5,884.66 in the day’s trading as investor confidence returned. Bargain hunters moved in on miners, which recovered along with metals prices [...]
Miners buoy FTSE but ratings threat casts shadow May 24, 2011 Mining stocks put the FTSE 100 on the front foot in early trading as metal prices rose – boosted by Goldman Sachs recommending investors to buy into commodities. Commodities trader Glencore made its full market debt and rose slightly from its price on the so-call grey market, but remained below the 530p offer price of [...]
Glencore edges up – but below offer price May 24, 2011 Shares in commodities trader Glencore ticked higher in their first day of official trade but remained well below the offer price, dashing hopes shares would rise after it set a mid-range flotation price. Sources close to the matter had said Glencore, the world’s largest diversified commodities trader, felt it had left “money on the table” [...]
Glencore to join FTSE 100 in full trading launch May 23, 2011 COMMODITIES giant Glencore will claim its place in the blue-chip FTSE 100 index as it begins full market trading on the London Stock Exchange today. Glencore is expected to join the FTSE 100 immediately due to its more than £30bn market value, pushingsoftware maker Invensys into the FTSE 250. But in signs that investors may [...]
THE TIPSTER May 22, 2011 NO FRILLS airline Ryanair has seen its share price on the up since March, and with oil prices falling, the stock is finding further support. It is due to report figures today and the expectations are that passenger numbers have increased. Capital Spreads quotes 3.54p-3.58p. Optimism has increased about tomorrow’s first quarter Marks and Spencer [...]
RAINMAKING WON’T STOP PLAY AT CITY’S CHELSEA POWER SHOW May 22, 2011 TONIGHT the worlds of high finance and horticulture will collide at the most popular fixture in the City year: the Chelsea Flower Show charity gala. BSkyB chief executive Jeremy Darroch was spotted eyeing up garden sheds at last year’s Chelsea preview, while Topshop boss Sir Philip Green – known in the City as “PG” – [...]
Disappointing float debut for Glencore May 19, 2011 GLENCORE shares closed flat yesterday after the launch of conditional trading in the commodities trader. It now has a value of $61bn (£37bn) after raising $10bn in the second-biggest float in London’s history. The company’s owners had hoped for a price rise of five to ten per cent on Glencore’s first day of trading, but [...]