Oil price gush lifts FTSE close to a record high October 11, 2016 Oil prices hit a 14-month high and the FTSE 100 recorded its second-highest close on record yesterday after Vladimir Putin suggested Russia would take part in a production cut alongside the Organisation of the Petroleum Exporting Countries (Opec). The Russian President told the World Energy Congress in Istanbul he supported the agreement reached by Opec [...]
As the UK prepares to leave the EU, is it time for investors to get out of the UK? October 5, 2016 With the FTSE 100 reaching 7,120 yesterday, just undershooting its all-time high, this might seem like a strange time to ask whether investors should be ditching UK assets altogether. However, as the blue-chip index surged, DeVere Group founder Nigel Green warned that Brexit-related risk means that such a “precautionary measure” is increasingly likely from UK investors [...]
Rio Tinto unveils $3bn debt reduction plan September 26, 2016 Miner Rio Tinto has launched a new debt reduction programme, which analysts said could boost its credit rating. Rio announced tender offers for up to $1.5bn (£1.16bn) of its 2019, 2020, 2021 and 2022 US dollar-denominated notes. It also issued a redemption notice for about $1.5bn of its 2017 and 2018 notes. The company’s shares closed [...]
Fed interest rate decision adds sheen to London-listed miners September 22, 2016 The US Federal Reserve's decision to hold interest rates proved to be a boon for London-listed miners which raced to the top of the FTSE today. While Fed chair Janet Yellen suggested US borrowing costs could rise this year, policymakers cut the number of rate increases they expect this year to one from two and projected a [...]
Liam Fox has led the UK’s second meeting with Qatar in a week as he seeks to build ties with Gulf states September 19, 2016 Liam Fox has led the government's second engagement with Qatar's rulers in less than a week as Downing Street has vowed to comply fully with rules blocking the UK from trade talks while it remains an EU member. Qatari Emir Shiekh Tamim bin Hamad Al Thani visited Downing Street to meet Theresa May last week, [...]
These are the FTSE 100 social media winners and losers September 12, 2016 FTSE 100 firms are finally getting the hang of social media and even jumping on the Snapchat bandwagon to build their profile, new research reveals. Seven firms in the blue-chip index now have official accounts on the fledgling messaging service with a further six using the platform in some form. Read more: Google, Facebook and Twitter blasted over [...]
Glencore’s share price is flat after reports that it is putting another one of its Chilean assets up for sale September 8, 2016 Glencore has put another one of its assets up for sale as part of a strategy to lighten its heavy debt burden. The reported asset in question is Chilean-based Energia Austral hydropower, which it owns through a joint venture partnership with Australian firm Origin Energy. Energia Austral comprises three hydropower projects currently under development that will have a capacity of 1,000 megawatts (MW). [...]
FTSE 100 ends the week tantalisingly close to 7,000, pushed up by pharma – as housebuilders regain losses September 2, 2016 The FTSE 100 ended the day at 6,894.6 points – 2.2 per cent higher, and within spitting distance of that 7,000 mark. The index was pushed up by pharmaceutical and mining stocks, with Hikma Pharmaceuticals leading the pack, jumping 5.2 per cent to 2,185p. That was followed by Unilever, which rose 3.8 per cent to 3,663p – [...]
Glencore launches new debt reduction plan but share price takes a hit as profits plunge on low commodity prices August 24, 2016 Mining and commodities giant Glencore announced plans to speed up cutting its net debt this morning but posted a two-thirds fall in profit for the first half of the year. The figures Lower commodity prices and trimmed production volumes pushed the company's net income down 66 per cent to $300m (£228m) in the six months to [...]
Coal industry urges UK government to reconsider carbon capture storage August 10, 2016 THE COAL industry is urging the new government to change its stance on support for the development of carbon capture storage (CSS). The World Coal Association, which represents FTSE-listed miners such as Glencore and Anglo American, has written to business secretary Greg Clarke asking him to better support the requisite technology in the UK. CCS would remove and store CO2 emissions [...]