Glencore boss Ivan Glasenberg resigns from Rusal’s board amid Russia sanctions April 10, 2018 The chief executive of commodities giant Glencore has stepped down from the board of sanctions-hit aluminium producer Rusal. Ivan Glasenberg resigned from his position as a director of the world’s top aluminium producer after its share price halved yesterday due to a fresh round of US sanctions that targeted Russian oligarchs including Oleg Deripaska, who [...]
London’s financial system needs to be better prepared ahead of Brexit March 21, 2018 The UK’s biggest challenge for our negotiations as we leave the European Union is to ensure that our economy is intact and properly prepared for the future. The City of London has an important role to play in helping to create a sustainable economy and the Brexit decision certainly presents some serious challenges. A solution [...]
FTSE roundup: Easyjet soars while housebuilders (Berkeley) temper blue chip index gains March 16, 2018 The FTSE 100 index has ended the day up 0.34 per cent, as Easyjet continued to climb after directors scooped up shares earlier this week. However the FTSE 100’s close, at 7,164 points, was substantially lower than last Friday’s close of 7224 points. BP helped to nudge the blue chip index up during the day, [...]
Rihanna roils markets as China bags a key element March 16, 2018 Garry White, chief investment commentator, looks at the market moving events that have shaped the UK equity markets this week (March 12 to March 16, 2018). This week, Barbadian singing sensation Rihanna managed to wipe $1bn off the valuation of tech group Snap, the Chinese secured a major cobalt deal to help it produce electric [...]
Anglo American, Glencore and Antofagasta share prices rise on better than expected data from China March 14, 2018 Mining stocks were boosted today after better than expected economic data from China was announced. Anglo American (up 3.21 per cent), Antofagasta (up 3.11 per cent) and Glencore (up 2.06 per cent) were some of the top risers on the blue-chip index after the price of base metals lifted following strong industrial production data from [...]
Markets wrap: FTSE 100 falls as bond yields jump, sterling falls agains the US dollar (GBPUSD) and bitcoin (BTC) swings February 2, 2018 The FTSE 100 today fell to its worst weekly performance since the summer in spite of the weaker pound – usually a boon to big multinationals with big dollar earnings. London’s blue-chip index lost more than 0.6 per cent to reach 7,443.43 points, its lowest close since 14 December to cap a week in which [...]
The FTSE 100 closed at a record high topping 7,600 December 21, 2017 There was plenty of Christmas cheer in the City today as Britain’s blue-chip index rose to an all-time high. The FTSE 100 rose above 7,600 points for the first time, closing up 1.1 per cent at 7,603.98. “The FTSE 100 has rallied strongly today moving above its previous record peak set back in June to [...]
Rio Tinto caves in to shareholder pressure and scraps appointment of Tory chief Sir Mick Davis November 26, 2017 Mining giant Rio Tinto has scrapped plans to appoint the chief exec of the Conservative party as its new chairman, according to reports. Frontrunner Sir Mick Davis is “no longer in the running” to replace Jan du Plessis after a shareholder revolt. City sources told Sky News over the weekend several institutional investors had drawn [...]
Oil and commodities prices: Mining firms drag the FTSE down as commodity prices drop November 15, 2017 Commodity prices tumbled this morning, dragging miners and oil firms down and causing Britain’s blue-chip index to dip. Metals including copper, nickel, zinc and aluminium came under pressure as concerns mounted over weaker economic data in China. Chinese industrial production fell to 6.2 per cent in October, missing estimates of 6.3 per cent growth and [...]
Queen and US commerce secretary Wilbur Ross among prominent figures featured in Paradise Papers November 5, 2017 A massive trove of leaked legal documents from an offshore law firm has exposed financial arrangements of well known public figures ranging from the Queen to a key member of Donald Trump’s cabinet. The documents, which were obtained by German newspaper Suddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ), reportedly contain [...]