Jake Greenberg firm Cobalt Holdings set for London listing March 10, 2025 The co-founder of uranium firm Yellow Cake’s new venture, Cobalt Holdings, is looking to float in London as early as May. The Times reports that Jake Greenberg’s firm is looking to raise £180m to buy up $200m (£155m) of Cobalt from Glencore in a six-year supply deal. Glencore is set to be a cornerstone investor, [...]
Glencore: FTSE 100 miner mulls ditching London February 19, 2025 Glencore became the latest company to warn it could ditch its London listing today in a move that has been described as a “sucker punch” to UK markets. Speaking to the media after the miner’s results today, Glencore chief Gary Nagle said that questions had been raised over whether the UK was the right place [...]
Glencore launches $1bn buyback programme despite profit fall February 19, 2025 Glencore has launched a $1bn (£792m) share buyback programme despite recording a 16 per cent drop in adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) in 2024. The firm’s EBITDA fell to $14.4bn, down from $17.1bn in 2023, while adjusted earnings before interest and tax (EBIT) fell by a third. Despite the fall, the [...]
Former Trump ally Mike Pompeo joins London-listed copper firm January 30, 2025 Former US secretary of state and one-time Trump ally Mike Pompeo has joined London-listed copper miner ACG, bolstering its board as it plots a deals offensive and international expansion. ACG, led by a former executive at Russia’s biggest aluminium miner, said the former CIA director would join as a non-executive director and bring “valued strategic [...]
What is driving the FTSE 100 surge? January 17, 2025 The FTSE 100 has hit a new all-time high today, with the index within touching distance of 8,500 for the first time. Since the start of the week, London’s main index has grown almost three per cent, outperforming the Nasdaq, the S&P 500, and the Dow Jones. The strong performance from the FTSE 100 came [...]
FTSE 100 hits all-time high as investors bet on interest rate cuts January 17, 2025 The FTSE 100 has hit a new all-time high this morning, surpassing the previous peaks it reached in spring last year, as investors ramp up their bets on an interest rate cut by the Bank of England next month. The value of London’s 100 largest listed companies has grown 3.2 per cent in the last [...]
Mining behemoths Rio Tinto and Glencore reportedly considered merger January 17, 2025 Mining giants Rio Tinto and Glencore reportedly discussed a merger last year. The two companies held discussions as late as October last year, but they didn’t progress further, as first reported by the Financial Times. A merger in full or in part of Glencore, with a market cap of £46.47bn and Rio Tinto, with £164.99bn, [...]
FTSE 100 rises as Assad’s overthrow in Syria drives oil prices higher December 9, 2024 The FTSE 100 ticked up on Monday morning as oil prices jumped after rebels overthrew the regime of Syrian President Bashar al-Assad over the week. Britain’s blue-chip index gained 0.28 per cent to 8,331.88, while the mid-cap FTSE 250, which is more closely aligned with the health of the UK economy, traded mostly flat at 21,047.56. Brent [...]
Global dividends hit record high despite UK drop off November 21, 2024 Global dividends hit a record third quarter high in 2024 after rising to $431.1bn (£340.7bn), despite a sharp drop off in UK payouts. Globally, 9 companies in ten (88 per cent) increased their dividends or held them flat, but UK dividends fell seven per cent to $25.8bn (£20.4bn) thanks in large part to mining sector [...]
FTSE 100 falls back as traders digest Trump presidency November 6, 2024 The FTSE 100 pared its gains and sterling tumbled on Wednesday as traders digested how Donald Trump's presidency will impact the global economy and the UK.