Glencore and the Qatari sovereign wealth fund have partnered up to buy 20 per cent of Rosneft in the “largest deal in the history of Russia” December 12, 2016 Shares in British mining giant Glencore rose this morning after it confirmed it has teamed up with the Qatari sovereign wealth fund to finalise a deal dubbed the "largest in the history of Russia". Shares were up 1.3 per cent at 304p in early trading, after Glencore said it had launched a strategic partnership with the Qatar [...]
Russian oil major Tatneft celebrates 20 years of being quoted on the London Stock Exchange December 12, 2016 Russian oil major Tatneft will open the London Stock Exchange this morning to celebrate 20 years of being quoted in London. Over that period the total shareholder return of the group, which has a market cap of around £10bn, over that period has been just shy of 1,900 per cent. This means a pound invested [...]
Glencore and Qatar’s sovereign wealth fund snap up a 19.5 per cent stake in Russian state-controlled oil group Rosneft December 7, 2016 Glencore and Qatar's sovereign wealth fund have banded together to buy a 19.5 per cent stake in Russian state-controlled oil producer Rosneft. The FTSE 100-listed commodities group and the Qatar Investment Authority (QIA) will pay Russia €10.5bn (£8.9bn) for a fifth of the world's largest listed oil producer, Russian state media has said. Russia will [...]
FTSE 100 falls ahead of the Italian referendum – but the pound tries to keep its chin up December 2, 2016 The FTSE 100 slid almost one per cent in morning trading today, as jitters over the outcome of the Italian referendum and the higher oil price conspired against equities. The UK's blue-chip market was down 0.9 per cent at 6,693 points in mid-morning trading, pushed down by minters and oil giants, after oil prices jumped this [...]
Rio Tinto confirms it is being investigated in US over accounts writedown December 1, 2016 Rio Tinto confirmed this morning that it is the subject of a long-running US Securities and Exchange Commission (SEC) probe. The investigation, which started in April 2013, relates to a $3bn (£2.4bn) impairment charge lodged in its 2012 accounts in respect of Rio Tinto Coal Mozambique. Rio Tinto Coal Mozambique housed assets the company picked up when it took [...]
Glencore share price rises 2.1 per cent as miner reveals it is on track to pay out $1bn in dividends next year December 1, 2016 Shares in Glencore rose 2.2 per cent this morning after the miner and commodities trader revealed that it is on track to pay out $1bn (£798m) in dividends in 2017. Glencore said it will distribute the $1bn in two equal portions in the first and second half of next year. The company announced a new [...]
Global investors in UK firms hit by falling dividends and devalued pound November 21, 2016 Global investors in UK equities saw their dividends plummet in the quarter after the EU referendum thanks to the devaluation of sterling. In underlying terms, UK dividends were down 2.9 per cent year-on-year in the third quarter, with mining companies such as Glencore and manufacturing group Rolls-Royce making deep cuts. But while the impact of [...]
FTSE 100 finishes the week lower as the pound slides below $1.26 November 11, 2016 Having jumped above $1.26 this morning for the first time since the so-called flash crash back in October, the pound slid back in afternoon trading. Sterling was just 0.2 per cent up against the dollar at $1.2577 by late afternoon trading in London. It was doing rather better against the euro, rising 0.7 per cent to [...]
Copper prices are eyeing up their biggest weekly rally in 35 years following Donald Trump’s pledge to boost infrastructure spending November 11, 2016 Copper prices are eyeing their biggest weekly rally in 35 years today following US president-elect Donald Trump's commitment earlier this week to boost infrastructure spending. Three-month copper on the London Metal Exchange was trading up 3.5 per cent to $5,601 per tonne, a level it hasn't reached since mid-2015, and up more than $700 since [...]
Trump card: The Dow Jones has hit an all time high after Donald Trump’s win November 10, 2016 If there's one thing markets like, it's certainty. It may have been suggested a Donald Trump victory could lead to recession, then eventual doom for all of humanity – but now the markets have an idea of what they're in for, they're actually pretty cheerful. In fact, the Dow Jones hit an all-time high after [...]