FTSE closes higher after Bank of England keeps rates unchanged October 8, 2015 Britain's blue-chip index closed up 0.6 per cent to 6,374.82 points today, after the Bank of England (BoE) voted 8-1 in favour of holding interest rates at a record low 0.5 per cent. The Bank's monetary policy committee – which is charged with setting interest rates – pushed back its forecast for when inflation will return to [...]
IMF: Emerging markets slowdown has pushed global economy to edge of recession October 7, 2015 The slowdown in emerging markets such as China and Brazil has pushed the world to the brink of recession, the International Monetary Fund (IMF) warned yesterday. The world is perilously close to entering a recession again this year and next, according to its latest forecasts. The fund has cut its forecast for global growth by [...]
FTSE 100 index ends up as commodities and energy rally – London Report October 7, 2015 Energy and mining stocks yesterday advanced on the back of stronger commodity prices as Britain’s top shares index extended gains from Monday’s session. The blue-chip FTSE 100 index, which surged 2.8 per cent on Monday, ended 0.4 per cent higher at 6,326.16 points. The index, however, is still down about 3.5 per cent this year [...]
FTSE 100 climbs as Glencore digs itself out of hole – London Report October 6, 2015 Britain’s top share index rose nearly three per cent yesterday, with a surge in Glencore after a volatile week leading mining companies higher. The blue-chip FTSE 100 index jumped 168.94 points, or 2.8 per cent, to 6,298.92 points, with every stock in positive territory. The FTSE 100 is still down over 11 per cent from [...]
Commodity prices: Low point for investors? Wait until 2017 October 6, 2015 Investors have over the past week questioned whether major commodities names are like the lyrics of the 1980s Bon Jovi hit Livin’ On A Prayer – spot prices might relapse, or prices may remain battered for years. Glencore has been in the thick of it, defending its liquidity, debt maturities and bank loans after [...]
FTSE 100 closes at its highest level in six weeks as Glencore share price soars October 5, 2015 Britain's blue chip index closed up 2.8 per cent to 6,298.92 points today, its highest level since August 20, led by gains from commodities giant Glencore. Speculation had swirled over whether the Swiss miner would sell some assets to cut its debt, or even consider agreeing to a takeover. Shares in the company closed up 21.05 [...]
Glencore chief executive Ivan Glasenberg tells rivals to close failing mines to help rally copper price October 5, 2015 The chief executive of ailing mining company Glencore said today rival companies should also be closing their loss-making mines to stop flooding the copper market. Ivan Glasenberg said: “If you're not making money I believe you should take production out and reduce supply. Don't create oversupply in the market for no reason.” Speaking at a [...]
Glencore share price leaps 72 per cent in Hong Kong October 5, 2015 Shares in troubled miner Glencore surged as much as 72 per cent to HK$18.36 during trading in Hong Kong today. In a statement this morning, the company said it was "not aware" of any reason behind the price rises. The board confirms that it is not aware of any reasons for these price and volume [...]
Supermoon, Uber’s drama and Jeremy Corbyn’s 80s flashback: Here’s what got us talking this week October 2, 2015 It was the week in which everyone saw red – from water on the red planet to the rare super-blood moon to a sudden surge in the popularity of Donald Trump Halloween wigs. And, of course, the Labour Party conference. In fact, the only one not wearing rose-coloured glasses was Burger King, which unveiled a [...]
Glencore non-executive director William Macaulay has bought 1.7m company shares October 2, 2015 First Reserve chairman and chief executive William Macaulay has bought more than £1.5m-worth of Glencore shares. Macaulay, who has been an independent non-executive director at the troubled miner and trader since 2011, has picked up 1.7m shares, at a price of 90.9p. It comes just two days after Glencore's chairman Tony Hayward [...]