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 [...]
Pokémon Go: Should you invest in Nintendo? Investors are set for share price slump, but longer term virtual reality games will prove a winner July 20, 2016 The craze for newly-released mobile game Pokémon Go has sent shares in co-owner Nintendo up 75 per cent. Pokémon Go has been downloaded over 15m times since it was released last week. It currently ranks as the fastest adopted game in history. So far, it’s available to play in the UK, US, Germany, Australia and New [...]
At the close: Sterling surge holds down the FTSE 100 July 12, 2016 The FTSE 100 closed flat this evening after ending yesterday's session at an 11-month high. The blue-chip index closed at 6,680.69 points, down just two points and flat in percentage terms. The end to yesterday's rally was put down to sterling being on course for its best performance against the yen in over three years after Theresa May [...]
FTSE enters bull market territory as it closes more than 20 per cent up on February’s low July 11, 2016 THE FTSE100 has entered bull market territory, closing yesterday at 6,682.86 – more than 20 per cent higher than the low of 5,537 that it hit on 11 February this year. The bounce has been led by a recovery in mining stocks, plus a boost from the falling pound which has augmented the Sterling value [...]
At the close: Just as things settle down Carney makes sure everyone’s still on their toes June 30, 2016 Just as the political situation had stolen the limelight from the markets in the aftermath of the UK's vote for Brexit, Mark Carney grabs it back. Carney, the governor of the Bank of England (BoE), told markets earlier this afternoon to expect a cut in interest rates as he warned the economy was in for a period of [...]
Mixed fortunes for London-listed miners amid Brexit vote fallout June 27, 2016 The fallout from the UK's Brexit vote was a boon for precious metals miners as investors sought safe-havens today, but this wasn't the case for the whole sector. Mexico's Fresnillo finished up seven per cent to 1,483p per share, while Rangold Resources added 9.02 per cent to 8,035p and gold miner Centamin swelled 8.15 per cent to 130.10p. Read more: Texas "frack master" accused [...]
BHP Billiton bucks trend with optimistic outlook for coal June 21, 2016 BHP Billiton, the world's biggest mining company, delivered an upbeat outlook for coal to an investor briefing today. The FTSE 100 listed firm is swimming against a tide of pessimism which surrounds the fossil fuel. An economic slowdown in China has led to low coal prices, consequently decimating the sector. Read more: BHP Billiton cuts production guidance [...]
At the close: FTSE 100 back on the up as markets and sterling recover some lost ground June 15, 2016 The FTSE 100 ended a four-day losing streak and sterling recovered some of its lost ground in a reassuring day for the markets. After yesterday's routing which wiped £30bn from the UK's leading companies, the blue chip index ended up 0.7 per cent at 5,966.80. That wasn't enough, however, to offset even half of yesterday's dramatic losses, [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]