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. [...]
Glencore reports rise in copper production after mines expand November 4, 2014 GLENCORE’S copper production rose eight per cent in the first nine months of the year thanks to strong output from Africa while the company’s trading division performed in line with its expectations. The miner and commodity trader has the biggest exposure to copper among the diversified miners. The London-listed company, which makes almost half its [...]
Mick Davis’ X2 Resources bid for Anglo assets not yet tabled November 3, 2014 A source close to private mining company X2 Resources yesterday cast doubts on reports that the firm, led by Mick Davis, had tabled a bid for some key Anglo American assets. Davis, who sold Xstrata to Glencore for $27bn (£17bn) in 2013, set up X2 earlier this year with the aim of building a new [...]
Manufacturing figures point to slower growth – London Report November 2, 2014 MANUFACTURING figures due out today are likely to show a loss of momentum in the UK economy’s growth. The manufacturing purchasing managers’ survey for October is forecast to sit at 51.5, the same as for September and weaker than the rates of 52.2 in August and 54.7 in July. A reading of 50 shows no [...]
Business is on the side of open minds – Editor’s Letter October 30, 2014 IT IS great news that Tim Cook has chosen to declare that he is proud to be gay. Unfair discrimination is abhorrent, and such high-profile statements can only help to end any lingering sense that public homosexuality is incompatible with a senior position in business life. At the same time, we should not be surprised [...]
Miner Rio Tinto transfers CEO Sam Walsh and CFO Chris Lynch to open-ended contracts October 23, 2014 Mining company Rio Tinto has extended the tenure of its chief executive Sam Walsh and chief financial officer Chris Lynch, the firm announced yesterday. Walsh, whose contract was due to end on 31 December 2015, with a break clause from 31 October 2014, and Lynch, whose contract was due to end on 28 February 2017, [...]
Eurozone fears pull down FTSE to one-year low – London Report October 9, 2014 THE FTSE 100 yesterday hit its lowest level for a year after early gains fell away in a broad-based sell-off as investors became anxious about signs of serious weakening in the Eurozone economy. The blue-chip index, which hit 6,544 points in morning trading, due mainly to a rise in mining shares, ended the day down [...]
Vince Cable puts pressure on companies over all-male boards October 8, 2014 Vince Cable is taking aim at some at a host of British companies that have no women on their boards. Cable is planning to write to the chairman of close to 30 FTSE 350 firms that have all male boards voicing his concern that they have failed to embrace diversity, Sky News reports. Companies that [...]