FTSE gains held back by miners and RSA’s woes – London Report September 22, 2015 TOP UK shares gained yesterday but underperformed a stronger rally across Europe, after takeover talks for insurer RSA fell through and mining stocks suffered another bout of selling. The FTSE 100 was up 0.1 per cent at 6,108.71 points at its close after falling in the previous two sessions. Pan-European equities were up 1.1 per [...]
All change: the FTSE newbies start trading September 20, 2015 IT IS a big day for Berkeley Group as today is its first day of trading on the blue-chip FTSE 100 index, having been promoted in the London Stock Exchange’s quarterly review. The quarterly review changes to the FTSE, as well as Germany’s Dax and France’s Cac indices, which were announced earlier this month come [...]
Glencore’s equity placing attacked for ignoring shareholders’ rights September 17, 2015 The Institute of Directors (IoD) has slammed mining giant Glencore for its recent £1.6bn equity placing, saying that the firm’s “conduct falls short of what we would expect of a major global company”. Oliver Parry, senior corporate governance adviser at the IoD, said that Glencore’s decision “appears to be in direct contravention of the [...]
SABMiller sale talk brews one-week high for blue-chip – London Report September 17, 2015 Britain’s top share index climbed to a one-week high yesterday, with SABMiller surging about 20 per cent after news that AB InBev, the world’s largest brewer, was to make an offer to acquire the UK firm, the world’s second largest. The blue-chip FTSE 100 index finished 1.5 per cent stronger at 6,229.21 points. Earlier in [...]
Glencore share price: Debt-struck resuorces giant calms investors with £1.6bn cash call September 16, 2015 Glencore’s share price closed 5.2 per cent higher yesterday, after a £1.6bn share placing reassured investors that the debt-struck resources giant could turn around its fortunes. The FTSE 100 commodities trader and miner rallied to 134.7p per share, having plummeted to an all-time low of 118.10p on Tuesday, due to market jitters about Glencore’s unwieldy [...]
Energy firms push index up – New York Report September 16, 2015 Energy stocks pushed Wall Street higher yesterday due to an almost six per cent jump in oil prices. However, many investors stayed on the sidelines ahead of today’s Federal Reserve decision on interest rates. The Dow Jones industrial average closed up 140.1 points, or 0.84 per cent, to 16,739.95, the S&P 500 gained 17.22 points, [...]
Glencore kicks off $2.5bn placing after shares recover from record low September 16, 2015 Mining giant Glencore has launched a $2.5bn (£1.6bn) placing of up to 1,307,794,600 new shares. The placing, which represents around 9.99 per cent of the firm's issued share capital, is part of the group's plans to reduce net debt by $10.2bn, announced earlier this month. Glencore’s share price had dropped by almost seven per cent [...]
FTSE lifts after strong opening on Wall Street – London Report September 16, 2015 Britain’s top equity index turned higher in thin trade yesterday, as a strong start to trade on Wall Street helped lift mining stocks off their lows. The blue-chip FTSE 100 index closed up 0.9 per cent higher at 6,137.60 points, turning higher as Wall Street gained following a climb in retail sales. The move helped [...]
Glencore share price rises with $2.5bn placing, climbing back from record low September 16, 2015 Shares in Glencore opened up by as much as four per cent on Wednesday morning, pleasing investors with a new share placing. The debt-stricken company is seeking to reverse its fortunes with the emergency share placing, which raised the $2.5bn (£1.63bn) it had promised investors. The commodities trader and mining company saw its shares plummet [...]
FTSE retreats as Morrisons and Glencore drop – London Report September 15, 2015 BRITAIN’S top share index fell yesterday, with miner Glencore and supermarket group Morrisons underperforming as weak Chinese data and the possibility of a US rate rise weighed on markets. The blue-chip FTSE 100 index had initially risen but then lost ground to close 0.5 per cent lower at 6,084.59 points as caution crept in before [...]