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Mining Companies Stock On U.K. Trade : BHP Billiton, Rio Tinto, Vedanta Lead Decline
U.K. stocks fell, led by BHP Billiton Ltd., the world’s largest mining company, and Rio Tinto Group as metal prices retreated.
Provident Financial Plc, a U.K. lender to lower-income households, dropped after saying 2007 pretax profit before items will fall. Arriva Plc declined after saying 2007 earnings at its rail division will be affected by the [...]
U.K. Stocks Gain, Led by Anglo American, BHP Billiton, Barclays
U.K. stocks rose, snapping a three- day slump, paced by Anglo American Plc, Barclays Plc and Royal Bank of Scotland Group Plc.
“We remain positive on the outlook for U.K. equities considering the favorable earnings reports and continued M&A speculation,” said Rupert Cecil, who helps manage $13.4 billion as the head of U.K. equities at [...]
China’s growth to fuel demand for copper and nickel, Toronto conference told
An urban construction boom in China over the next decade will fuel the global market for copper, an analyst told delegates at an international commodities convention on Sunday.
Demand will explode as some of China’s rural population shifts to the cities, Onnu Rutten of Scotia Capital in Toronto said at a market-outlook forum, the first major [...]
Oil stocks boost TSX as crude prices revive, consumer data helps take NY up
The Toronto stock was comfortably on positive ground late Friday morning, led by gains in the energy sector amid hopes that oil has hit bottom after prices tumbled over 17 per cent this month.
Positive consumer data helped turn New York indexes higher, helping to compensate for reports and forecasts from blue-chip names like IBM Corp. [...]
London shares lower midmorning; weakness across mining sector; US jobs data due
Leading shares were lower midmorning, with downgrades across the mining sector outweighing further M&A talk among financials, while nervousness before this afternoon’s US jobs data also hit sentiment, dealers said.
By 10.13 am, the FTSE 100 index was down 14.5 points at 6,117.1, while the broader indices were mixed.
Volume was below average, with 416.9 mln shares [...]
Market Report: Tata Steel ‘hammering out a Corus takeover’
Although shares in Corus Group, the Anglo-Dutch steel producer, closed 1.5p lower at 392.25p yesterday, yet another takeover story was doing the rounds among traders late in the session.
The lack of positive movement in the share price could be an indication that there has been so much takeover talk in the steel sector since Mittal [...]
Oil, Gold Bottom on China-Led Rebound, U.S. Trust, Goldman Say
Oil, gold and copper have bottomed in the last three weeks and may lead a rebound in the commodities markets, say a growing minority of strategists.
“We are positioning for an upturn,” said Michael Hoover, who manages $475 million at U.S. Trust Co.’s Excelsior Energy and Natural Resources Fund, which gained an average 20 percent a [...]
Telecoms Weigh on Europe
European markets finished largely in the negative, dragged by U.S. market losses and further weakness in the telecommunications sector. Deutsche Telekom dropped 3%, Vodafone Group lost 1.8% and BT Group lost 0.3%. Companies in France gained on strong second-quarter GDP figures. The German DAX 30 lost 0.1%, London FTSE 100 fell 0.1%, while the French [...]
Baby-step fuel price rises set to continue
China is all but certain to raise retail gasoline and diesel prices for a third time this year, but will not jack up rates by the more than 15 per cent that would be necessary to close the gap with rallying crude costs.
Anxiety over the impact to the economy and backlash from the rural poor [...]
