Lonmin shares hit by Glencore divestment February 11, 2015 PLATINUM producer Lonmin saw its shares plunge by 8.3 per cent yesterday after mining giant Glencore announced that it was divesting its 23.9 per cent stake in the company. Glencore is proposing to make a “distribution in specie” to its shareholders, which means the asset will be distributed in its present form, as opposed to [...]
Lonmin share price falls as much as seven per cent after Glencore divests stake February 11, 2015 FTSE 250-listed planinum miner Lonmin's share price slumped this morning, after Glencore revealed plans to dispose of its 23.9 per cent stake in the business, part of the company's plan to combat falling commodity prices. The disposal, due to be completed by the end of June, sent Lonmin's share price down as much as 6.6 per [...]
Inflation report to give clues on rate hike date – London Report February 8, 2015 THE BANK of England’s quarterly inflation report is this week expected to offer an insight into whether historically-low interest rates will be increased this year or next. Howard Archer, of IHS Global Insight, said: “The Bank of England will obviously have to cut its near-term inflation forecasts sharply given that consumer price inflation fell sharply [...]
Viiv Healthcare IPO: Banks onboard for GlaxoSmithKline’s £17bn pharma float February 4, 2015 Pharma giant GlaxoSmithKline (GSK) has hired banks to analyse the pros and cons of a float of its HIV medicines business next year, in what would be the one of the UK’s biggest initial public offerings of the last decade. Chief executive Sir Andrew Witty said banks, believed to be Citi, Goldman Sachs and Morgan [...]
Chinese growth data pushes FTSE 100 higher – London Report January 20, 2015 MINING stocks boosted the FTSE 100 yesterday, after Chinese data beat expectations which pleased mining companies that export to the country, although a tepid outlook from Unilever kept confidence in check. The FTSE 100 index closed 0.5 per cent higher at 6,620.10 points, after earlier reaching its highest point since the start of 2015 at [...]
Market lifted by upbeat view of Christmas retail – London Report January 19, 2015 BRITAIN’S main share index rose yesterday, extending a strong run, with retailers such as Tesco among the biggest gainers from a more upbeat view of the sector after a better-than-expected Christmas period. Electronics retailer Dixons Carphone rose 4.4 per cent, the top riser on the FTSE 100 index, with traders citing optimism ahead of the [...]
Copper market chaos hammers mining stocks January 14, 2015 COLLAPSING copper prices and the continued decline of the oil market hammered stocks in the commodities sector yesterday. Copper fell as much as eight per cent to a five-year low of $5,522 per tonne, a move that analysts attributed to growing excess supply in the market, with China accounting for 40 per cent of global [...]
Mining meltdown: Antofagasta, Glencore and Anglo American share prices plummet amid copper selloff January 14, 2015 Miners led the FTSE 100's biggest fallers in morning trading after a sudden collapse in copper prices knocked oil off the top of the commodities watch list. The metal plunged by more than six per cent after the World Bank slashed its global growth forecast for 2015. Antofagasta was the biggest faller, with shares dropping [...]
Plunging oil prices weigh heavily but Carpetright soars – London Report December 15, 2014 London stocks fell yesterday, with the FTSE 100 down for a sixth consecutive session, as equities markets failed to hold on to an early rally as fears about sliding oil prices and demand for other basic commodities took hold once more. The FTSE 100 ended down 1.9 per cent, or 117.91 points, at 6,182.72, with [...]
Miners weigh on FTSE as demand for metal drops – London Report December 11, 2014 BRITAIN’S top share index slipped to a six-week low yesterday, as mining shares fell sharply on concern that metal demand was weakening, while some stocks traded without the attraction of their latest dividend payouts. The mining companies put pressure on the blue chip FTSE 100 index, which closed 0.6 per cent lower at 6,461.70 points. [...]