Strong year for City flotations September 14, 2014 LONDON’S listings market is bouncing back to pre-recession highs, as an increasing number of companies make their debut on the London Stock Exchange. Research by Capita Asset Services forecasts main market initial public offerings (IPOs) are likely to be worth £11.7bn this year, smashing the £8.7bn figure in 2011 that was largely raised by the [...]
Miner Mick Davis gets First Avenue on board to build $4bn war chest September 14, 2014 Mining magnate Mick Davis is believed to have hired more advisers as he looks to build on his $4bn (£2.5bn) funds while hunting assets for his new mining company. Davis has been working to build up funds since setting up X2 Resources following the sale of Xstrata to Glencore for $27bn last year. Now, in [...]
More mining M&A on the cards? Anglo American share price rises as boss says “come and get us” September 2, 2014 Shares in Anglo American, the world's largest platinum miner, jumped 2.6 per cent this afternoon after its chief executive said the company is open to takeover offers. In an interview, Mark Cutifani said his job is "to create value" – adding that "if somebody sees value, then there's a conversation to be had". I'm not [...]
Glencore share price rises as mining giant gives $1bn buyback to shareholders August 20, 2014 Mining and commodities giant Glencore kept to its commitment to reward shareholders as it announced a $1bn share buyback yesterday, with shares rising on the news and strong first-half results that saw its profits rise above expectations. The Switzerland based firm, founded in 1974, saw its underlying profit rise by eight per cent to [...]
Analyst Views: What do you make of Glencore’s results and major share buyback? August 20, 2014 MARC ELLIOT | INVESTEC With the key share buyback to return cash to shareholders, we note Glencore is the first of the diversifieds to make such a firm commitment. Operationally, marketing activities put in a solid performance, marginally ahead of expectations, as did industrial activities. CHRISTOPHER LAFEMINA | JEFFERIES Glencore reported slightly better-than-expected financial results [...]
Glencore reveals $1bn share buyback as earnings increase 8pc August 20, 2014 Glencore has revealed an eight per cent increase in adjusted earnings alongside plans to pay out up to $1bn of cash to shareholders through a share buyback programme. The news means Glencore will return capital to investors before mining competitors BHP Billiton and Rio Tinto, with the company saying the buyback will run to March [...]
London Report: Putin’s Crimea comments help to calm FTSE August 14, 2014 THE FTSE yesterday rose after being bolstered by apparently conciliatory comments from Russian President Vladimir Putin on a visit to Crimea, as well as expectations for a continuation of ultra-loose monetary policy. On a trip to Crimea, the Ukrainian region annexed by Russia in March, Putin said his country would stand up for itself but [...]
Glencore share price slides after a mixed first-half output report August 13, 2014 Commodities powerhouse Glencore saw its share price slump over three per cent yesterday on a mixed half-year production report. The integrated miner trader said production of copper – the metal it makes almost half its profit from – rose 13 per cent to 741,000 tonnes. But the FTSE 100 company, which completed a $40bn (£23.9bn) merger [...]
London Report: FTSE is bolstered by doveish Bank data and thin trading August 13, 2014 THE FTSE yesterday ended slightly higher in thin trade, boosted by a doveish message from the Bank of England. Britain’s leading index closed 24.26 points higher, or 0.4 per cent, at 6,656.68 points after a choppy session marked by low trading activity. Shares in G4S, the world’s biggest security company, led advances, up 5.3 per [...]
London Report: UK labour data and inflation report to form rates outlook August 10, 2014 LABOUR market data and the Bank of England’s quarterly inflation report due this week will point to the likelihood of rate rises in the near future. “Latest labour market data is likely to show a further marked drop in unemployment but still muted earnings growth,” said Howard Archer, of IHS Global Insight. “A further marked fall [...]