Joblessness data and retail figures focus of quiet week – London Report August 9, 2015 THE CORPORATE results season has past its peak, but the week ahead is due to see some big financial news nonetheless, including UK unemployment figures on Wednesday. Tomorrow retail sales data will be published, while on Friday construction industry output figures will be out. Prudential is reporting its half-year interims tomorrow after chief executive Tidjane [...]
Commodities in freefall as China faces slowdown August 4, 2015 Mining stocks were dealt a body blow yesterday, with one index dropping to a 13-year low, as Chinese manufacturing PMI data dragged the commodities market down yet again. The data, which came out yesterday morning, showed that the downturn in China’s manufacturing sector intensified at the start of the third quarter. Production was cut at [...]
FTSE decreases after miners fall down a hole – London Report July 22, 2015 BRITAIN’S top share index yesterday dropped to its lowest level in more than a week after a poorly received earnings report from Apple hit tech stocks and weaker metals prices and an update from BHP Billiton dragged down miners. The FTSE 100 index closed 1.5 per cent weaker at 6,667.34 points after falling earlier to [...]
Commodities plunge to 13 year-low dragged down by mining shares July 22, 2015 Commodity prices continue to plunge, as falling mining shares dragged a commodity index down to its lowest point since 2002. Bloomberg’s commodity price index, tracking gold, crude oil and other raw materials, has plunged by 40 per cent since 2011. Today the index fell to 95.5 points, its lowest point in 13 years. Mining shares [...]
Worst sectors for boardroom diversity: Women joining FTSE 100 boards but mining lags far behind retail industry as Conservatives push to end gender pay gap July 13, 2015 More women are joining the boards of Britain’s most powerful companies, but there’s a big difference between different industries, a breakdown by sector reveals. In a bid to end the gender pay gap "in a generation”, Prime Minister David Cameron announced plans today to require UK firms to publish gender pay audits. But progress is [...]
Glencore share price falls as FTSE miners feel the heat from commodities selloff July 7, 2015 London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil. Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer. It comes a day after Chinese brokerages [...]
FTSE 100 miner Vedanta Resources merges Indian branches June 14, 2015 Vedanta Resources, the FTSE 100 Indian resources company, is undertaking more work to simplify its structure, confirming plans to merge its Indian subsidiaries, Mumbai-listed Vedanta Limited and Cairn India. Cairn India minority shareholders will receive one equity share in Vedanta Ltd, as well as one 7.5 per cent preference share with a face value [...]
Post-vote bump fades but Royal Mail delivers – London Report May 11, 2015 LAST week’s relief rally from the unexpectedly strong Conservative General Election victory petered out to leave the FTSE 100 relatively flat by yesterday’s close. The trading day was dominated by central-bank decisions, with the Bank of England keeping interest rates on hold at 0.5 per cent and a cut in Chinese interest rates supporting commodities [...]
GlaxoSmithKline culls £17bn HIV drugs float as outlook improves May 6, 2015 PHARMA giant GlaxoSmithKline (GSK) yesterday abandoned plans for a float of its HIV medicines division. In first quarter results published today, the company said its decision to hang on to ViiV Healthcare reflected an “updated strong positive outlook”. Analysts at Jefferies have said ViiV could be valued at as much as £17bn on the public [...]
ViiV Healthcare: GSK share price rises as it scraps plans for £17bn HIV drugs spin-off which would have been one of the biggest IPOs this decade May 6, 2015 Pharma giant GSK (aka GlaxoSmithKline) has abandoned plans for an IPO of its HIV medicines division, it said today. In first quarter results published today, the company said its decision to hang on to ViiV Healthcare reflected an "updated strong positive outlook". Analysts at Jefferies have said ViiV could be valued at as much as [...]