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 [...]
Precious metal firms rise to the top of the FTSE 100 following Donald Trump win November 9, 2016 Precious metal producer Fresnillo has ploughed to the top of the FTSE 100 this morning after Donald Trump won the 2016 US Presidential election. Metals stock is gaining traction as investors move away from equities towards safe haven investments such as gold. Shares in Mexico-based precious metals group Fresnillo were up 9.69 per cent shortly after markets opened, [...]
Glencore keeps on top of production after weathering cuts and suspensions November 3, 2016 Glencore's production fell in most commodities, but everything's pretty much on track (no nasty surprises here folks). Third quarter was in line with expectations: full-year marketing earnings before interest and taxes guidance were at $2.5-$2.7bn. That's a slight increase; the commodities giant lifted the upper end of range by $100m. The figures The company said own-sourced [...]
Glencore lands thermal coal supply deal for $95 a tonne with Japanese utilities in one-third price boost October 24, 2016 Glencore has signed a year-long contract to supply Japanese utility companies with Australian thermal coal for almost $95 a tonne. The spot price of Australian thermal coal, which is the Pacific benchmark, reached $100 last week for the first time in four years. The material is mostly used in power generation and has rallied to almost double [...]