Glencore in $960m deal with Fleurette for copper and cobalt in Democratic Republic of Congo February 13, 2017 Commodities company Glencore has bought up the remaining stake in Fleurette's Mutanda mine in the Democratic Republic of Congo and has increased its stake in Katanga Mining Limited for a total $960m (£766m). The assets are key sites for the production of copper and cobalt, two commodities which are performing particularly strongly due to the global demand for electricals. [...]
A surge in copper prices is boosting shares in London’s FTSE 100 miners February 13, 2017 Top London-listed miners' shares were given a boost this morning on the back of stronger metal prices. Mining stocks increased 1.6 per cent as London Metal Exchange three-month copper prices this morning increased about one per cent to the metal's highest price in 20 months . Shares in Glencore, Anglo American, BHP Billiton and Antofagasta climbed between 1.7 per cent [...]
Exit the dragon: Moonpig founder Nick Jenkins rubbish tips, accurately exercising dogs and how to make a difference February 1, 2017 "My mental maths has certainly got loads better. They take your phone away so we have to do all the calculations in our heads, on the spot," says Nick Jenkins, the Dragons’ Den dragon, founder of Moonpig and businessman whose personal wealth stands at around £150m. Jenkins, who is leaving the BBC show at the end of [...]
London set for biggest IPO in six years as warehouse giant plots 2017 float January 12, 2017 London is set for its biggest float in more than half a decade, City A.M. can reveal. Private equity giant Blackstone is aiming to list warehouse business Logicor, which is valued at around €13bn (£11bn), on the London Stock Exchange in 2017. Sources told City A.M. the initial public offering (IPO) could come in the first [...]
Monte dei Paschi shares swing wildly as bailout fails but FTSE 100 and Europe shares flat December 22, 2016 Shares in Banca Monte dei Paschi di Siena (MPS) were swinging wildly on Thursday as investors digested the news that the Italian bank is set for a government bailout. Shares were suspended after steep falls. They closed at €16.30 on Wednesday, but traded at lows of €14.71 after opening at €15.00. However, they then recovered quickly [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
FTSE 100 miners Fresnillo, Randgold Resources and Polymetal fall as gold prices slump to 10-month low December 15, 2016 Shares in FTSE 100 gold miners were battered this morning as prices of the yellow stuff fell to a 10-month low. A dollar rally pushed spot gold prices down 1.23 per cent to $1,128.85 an ounce this morning, after the US Federal Reserve yesterday raised US interest rates from 0.5 to 0.75 per cent and [...]
Mining stocks have finally recovered in step with commodity prices but can the rally continue? December 12, 2016 AS THE political earthquakes of the past few months exact a heavy toll on currencies including sterling, commodities have been a beneficiary. Iron ore prices, for example, have doubled from their January 2016 lows while other base metal prices like zinc have also climbed, up nearly 70 per cent in the year to date. The [...]
Rosneft buys 30 per cent stake in Eni’s “super-giant” Egyptian Zohr gas field December 12, 2016 Russian oil behemoth Rosneft has snapped up a 30 per cent stake in Eni's Shorouk concession, which contains the Mediterranean's largest gas field, for $1.58bn (£1.25bn). This cuts the Italian oil and gas group's stake in the concession from 90 per cent to 60 per cent. Rosneft will pay $1.13bn in cash for the concession and [...]
Santa’s naughty list could well be shorter this year as coal demand waning and growth set to stall for next five years December 12, 2016 Waning appetite from key consuming nations and swift growth in other sources of energy will stall global demand for coal over the next five years, according to the International Energy Agency (IEA). (Though maybe it's just that so few children were naughty this year that coal's no longer needed…) Coal demand fell last year for [...]