FTSE 100 index closes higher as bank shares rise and Janet Yellen’s remarks calm markets despite the continued fall of miners February 10, 2016 The FTSE 100 index closed higher today as banks recouped some of the losses they made yesterday and US Federal Reserve chair Janet Yellen calmed markets. The index closed 0.71 per cent higher at 5,672.3 points. "Fed Chair Janet Yellen’s testimony was always going to be aimed at provoking the least reaction possible in her testimony to the House Financial [...]
FTSE 100 index closes lower as miners and banks slide February 9, 2016 The FTSE 100 index extended its losses on Tuesday after having traded with some volatility over the course of the day. The UK's blue chip index fell 0.88 per cent to 5,632.19 points as banks and miners continued to tumble. “It’s becoming a ‘get yer hard hat on’ situation with bank stocks coming down left and right [...]
Antofagasta, Anglo American, Glencore share price: UK FTSE miners’ rally comes to abrupt end February 9, 2016 While mining stocks have sizzled recently, their rally came to an abrupt end today, in the wake of disappointing corporate news regarding two of the biggest firms. Antofagasta tumbled to the bottom of the FTSE 100, shedding as much as 10.2 per cent to 407.2p per share, after Goldman Sachs cut its rating on the stock to "sell". Meanwhile, [...]
Mining sector burning through cash reserves after commodity price crash February 8, 2016 The value of cash held by London Stock Exchange-listed mining companies fell by £1.1bn in the last year, according to research released today by Banc De Binary. The findings show a fall in cash reserves across all LSE-listed mining companies from £24.3bn to £23.2bn over the last 12 months. A drop of £780m was recorded in [...]
Anglo American and Glencore share price: Mining stocks are surging again February 5, 2016 Shares in some of the biggest London-listed miners reversed earlier falls to rally for a second day in a row this morning. They finished at the top of the FTSE yesterday due to the tumbling US dollar, which sent gold to a fresh three-month high and helped copper to its highest level in a month. Anglo American shares [...]
FTSE 100 index opens ahead of US jobs data as miners’ share prices continue to rise February 5, 2016 The FTSE 100 index opened higher this morning ahead of the publication of US jobs data, which investors will be eyeing for signs of when the Federal Reserve will next raise interest rates. The UK's blue-chip index was 0.52 per cent up at 5,931 points in mid-morning trading, as miners recouped losses made when the market [...]
Anglo American, Rio Tinto and Antofagasta see share prices rise: Miners soar to the top of the FTSE February 4, 2016 Brighter metal prices and a tumbling US dollar helped turn the fortunes of London-listed miners around today, as analysts speculated that the worst could be over for the embattled sector. Mining stocks were reinvigorated as fading expectations of an interest rate rise by the US Federal Reserve sent the greenback tumbling. This helped gold hit a [...]
Glencore share price rises despite S&P cutting its credit rating to just above junk February 4, 2016 Miner and trader Glencore’s credit rating was left hovering above junk grade today, after Standard & Poor’s (S&P) spliced it to the lowest investment grade, citing concern over the impact of China’s slowing economy on commodity prices. S&P downgraded the Switzerland-based group by one notch to BB- from BBB. It had recently lowered forecasts for [...]
FTSE 100 index opens up as oil prices surge lifting oil companies and miners including Anglo American and Glencore ahead of the Bank of England’s interest rate decision February 4, 2016 The FTSE 100 index opened up this morning as markets priced out a further interest rate increase by the Federal Reserve this year, in turn causing the dollar to slide and the price of oil to rally. The UK's blue chip index rose 1.46 per cent to 5,924 points ahead of the Bank of England's latest [...]
FTSE 100 closes back below 6,000 points on BP fourth quarter results and falling oil prices February 2, 2016 Britain's blue-chip index tumbled back below the 6,000 mark today, as BP reported its biggest loss in at least 20 years and oil prices continued to fall The FTSE 100 closed down 2.28 per cent to 5,922.01 points this afternoon, after touching a low of 5,892.87 points earlier in the day. Shares in BP fell 7.15 per cent [...]