Miners look to asset sales for relief February 28, 2016 The mining industry is set for further pain this week, as Glencore and Fresnillo report preliminary results for 2015 tomorrow. Analysts are expecting a fall in pre-tax profit at Glencore of up to 80 per cent, as well as details of how the Switzerland based FTSE 100 miner will go about cutting its $13bn (£9.4bn) [...]
At the close: FTSE 100 index falls as share prices of Standard Chartered and miners including Anglo American and Glencore drop further while housebuilders make gains February 24, 2016 The FTSE 100 index closed lower on Wednesday as the price of oil slid further and miners and Standard Chartered extended losses. The UK's blue-chip index dropped 1.6 per cent to 5,867 points, led lower by Anglo American and Glencore. "European markets tripped up again on Wednesday as volatile moves in the price of oil [...]
Anglo American, Antofagasta, Glencore and Rio Tinto all see shares jump while BHP Billiton becomes latest FTSE miner to slash its dividend February 23, 2016 Some of the world’s biggest mining firms led the FTSE 100 above 6,000 yesterday, as rising commodity prices saw the beleaguered industry bounce back. All five of the index’s top risers were miners, with Glencore and Anglo-American recording double-digit gains and Rio Tinto and Antofagasta also rising sharply. Dual-listed BHP Billiton, which was last night [...]
BHP Billiton cuts dividend and profits slides as it battles commodity rout February 22, 2016 Mining giant BHP Billiton has cut its dividend as it struggles to maintain its A-grade ratting in the midst of its biggest ever profit slump. The company scrapped its pledge to keep its dividend steady or rising, slashing the dividend by 74 per cent. Dividend per share has been cut from 62 cents to 16 [...]
At the close: FTSE 100 index closes higher as the oil price rises with banks’ and miners’ share prices including Anglo American and Glencore rising despite housebuilders and HSBC’s share price falling February 22, 2016 The FTSE 100 index closed higher today after the price of oil rose and there was a bounce-back in mining companies and banking shares. The UK's blue-chip index rose 1.47 per cent to 6,037 points, led higher by Glencore and Anglo American. "Rallying commodity prices from crude oil to copper have boosted the beaten up [...]
Metal prices soar on fears of supply shortage: Zinc, iron ore, copper all climb higher February 22, 2016 Fears over a supply shortage have pushed up the price of base metals, with zinc hitting four month highs. On the London Metal Exchange (LME) the price of three-month zinc hit an intraday peak of $1,790 a tonne, up over two per cent, the highest price since late October. It closed at $1,781 a tonne, after [...]
Mining giant BHP Billiton’s dividend is expected to be the latest commodity rout casualty February 21, 2016 BHP Billiton is set to become the latest mining company to chop down its dividend later today, as it seeks to hold onto its A-grade credit rating. The dividend could drop by up to 75 per cent as the commodity rout continues to lay waste to profits in the sector. The company is expected to post [...]
At the close: FTSE storms over 6,000 in shock four day nine per cent rally as share prices stay volatile February 17, 2016 The FTSE 100 has smashed through the 6,000 barrier, less than a week after falling to lows of just over 5,500. The top share index closed at 6,030.32, up 2.9 per cent on the day, adding over nine per cent in the last four trading sessions. The rebound comes amid recent extreme market volatility across Europe's stock markets, [...]
Glencore share prices rises as it launches refinancing of $8.45bn loan February 17, 2016 Shares in commodities miner and trader Glencore soared to the top of the FTSE 100 today, after it announced a refinancing deal to replace its $8.45bn one-year revolving credit facility that it initially signed in May 2015. In this initial pre-syndication phase, the company said it's received commitments from senior banks for $8.4bn, representing an increase from [...]
FTSE 100 index trades higher ahead of Federal Reserve minutes and UK employment and wage data as Glencore, Anglo American, Rolls-Royce and tourism companies share prices rise February 17, 2016 The FTSE 100 index traded higher this morning as all eyes turn to UK employment and wage data, as well as the latest Federal Reserve minutes. The UK's blue-chip index rose 1.27 per cent to 5,936 points in mid-morning trade, led higher by Glencore, Anglo American and Rolls-Royce despite the price of oil falling back slightly. "Despite yesterday’s slide [...]