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 [...]
New York and fuel trim FTSE – London Report October 2, 2015 UK SHARES outperformed their European counterparts yesterday as mining and oil and gas companies rose, although weakness on Wall Street trimmed the gains. The blue-chip FTSE 100 index closed just 10.86 points higher, up 0.2 per cent at 6,072.47 points, having been up by more than one per cent for most of the session. Mining [...]
Sainsbury’s and Glencore give FTSE 100 a three-digit lift – London Report October 1, 2015 The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook. The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61. Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons [...]
Glencore share price rises after chairman Tony Hayward buys more shares September 30, 2015 This is either a vote of confidence in the company's prospects, or a baby step towards a surreptitious management buyout – either way, one Glencore exec has decided to increase his stake in the commodities miner and trader today. Glencore chairman Tony Hayward has hoovered up an additional 100,000 shares at 91p per share, according to [...]