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 [...]
Focus on wealth management pays off May 19, 2011 AT first glance, Investec has missed forecasts with full-year operating profit of £434m: analysts had been hoping for something nearer the £450m mark. But the South African bank and wealth manager still gained the most in two-months during trading yesterday. A candidate for demotion from the FTSE100, thanks to the entry of mining giant Glencore, [...]
Energy shares drive FTSE May 19, 2011 ENERGY and banking stocks propelled Britain’s FTSE 100 higher yesterday as commodities trading giant Glencore made its London Stock Exchange debut. As the London market closed, Glencore’s shares on the grey market were trading around the widely expected launch price of 530p. Glencore will be added to the FTSE 100 index as from the start [...]
FTSE buoyed by Glencore as IMF chief quits May 19, 2011 The FTSE 100 climbed this morning as commodities giant Glencore made its debut, helping to buoy European markets. But an announcement that IMF chief Dominique Strauss-Kahn was standing down over assault charges in the US was the talk of the markets as the hunt for a successor starts. The re-building of the eurozone’s finances was [...]
Glencore stock starts trading May 18, 2011 CONDITIONAL trading kicks off in the biggest float in London’s history this morning, with newly issued shares of commodity giant Glencore expected to open at a price of 530p. That would be precisely in the middle of the 480-580p price range it set before its investor roadshow. The price values the company at $60.1bn or [...]