European stocks show resilience to China market fall September 7, 2015 European markets went up today, showing resilience to yet another decline on China's key index. The FTSE 100 closed 0.5 per cent higher at £60.75, while the Germany's Dax and France's Cac 40 rose 0.7 per cent and 0.6 per cent, respectively. Read more: China's stock market turmoil could spell bad news for London [...]
Glencore’s share price soars 10.2 per cent as it reveals billion-dollar debt reduction plan and rights issue September 7, 2015 Fresh from taking a battering as a result of China, which has resulted in S&P downgrading its credit rating, commodities trader Glencore is tapping shareholders for a further $2.5bn (£1.64bn) rights issue. The business, which floated in May 2011, said it was seeking the money as part of a plan to reduce net debt [...]
Draghi and easyJet help to boost FTSE to 2pc single-day gain – London Report September 4, 2015 UK SHARES had their biggest one-day gain in a week yesterday, buoyed by a commitment by ECB chief Mario Draghi to boost the central bank’s asset-purchase programme if needed to offset the effects of a riskier economic backdrop. The FTSE 100 blue chip index was up 1.8 per cent at 6,183.09 points at its close. [...]
Anglo American in talks over SA platinum mines September 3, 2015 SIBANYE Gold, the biggest producer of the yellow metal in South Africa, yesterday confirmed it was in negotiations with Anglo American Platinum over the purchase of the company’s Rustenburg platinum mines. Its shares rose 5.51 per cent on the Johannesburg stock exchange yesterday, although the company warned that a transaction might not be completed. While [...]
FTSE closes up after positive Ashtead results – London Report September 3, 2015 Britain’s leading share index ended higher yesterday, buoyed by results from industrial equipment hire group Ashtead and by opening gains on Wall Street. The FTSE 100 closed up at 24.77 points, or 0.4 per cent, at 6,083.31, broadly in line with European indexes and Wall Street. Stocks were more upbeat as investors bet that the [...]
Best of the Brokers for 2 September 2015 September 2, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com GLENCORE Canaccord Genuity has upgraded its recommendation for Glencore from “hold” to “buy” following the miner’s recent interim results. It has lowered its target price to 220p from 260p previously. The broker said it is also confident that Glencore can sustain its full-year [...]
Chinese woes take toll on miners as FTSE slumps 3pc – London Report September 2, 2015 THE FTSE 100 yesterday slumped three per cent, its worst one-day fall in over a week, with miners hit hardest after a slump in the manufacturing sector in China – the world’s biggest commodity consumer. The blue chip index closed down 189.40 points, or three per cent, to 6,058.54. China’s Purchasing Managers’ Index (PMI) fell [...]
Black Monday: £74bn knocked off FTSE 100 as markets respond to deteriorating China outlook August 28, 2015 The UK’s 100 biggest companies had £74bn wiped off their value today after a worsening outlook in China hit global stock markets. The FTSE 100 had lost 4.67 per cent by the time markets closed, nosediving below the 6,000 mark to 5,898.9. China led the global sell-off with the Shanghai composite index plunging 8.49 [...]
China fears hit again to push FTSE back down – London Report August 27, 2015 DESPITE rallying from China-related fears on Tuesday, the UK’s top share index sank yesterday, ending up not far from its lowest closing levels since the end of 2012. Data showing an unexpected pick-up in UK retail sales and an increase in mortgage approvals offered encouraging signals on the domestic economy but failed to stem selling. [...]
FTSE buoyant as China reassures global investors – London Report August 26, 2015 AFTER China cut interest rates to calm markets, Britain’s top share index posted its biggest one-day rise since 2011 yesterday, following turbulence that has rocked equities globally. The FTSE 100 rebounded, rising 182.47 points, or 3.1 per cent, to 6,081.34 points by the close after dropping to its lowest level since 2012 in the previous [...]