FTSE 100 Live: Stocks to tumble as interest rate decision looms; Oil falls as ‘economic catastrophe’ avoided
China iron ore imports hit second-highest level on record August 8, 2016 China's ravenous appetite for raw materials helped its iron ore imports hit their second-highest level on record last month. Demand for the key steel-making ingredient rose as Chinese steel mills fired up furnaces on the back of higher prices. It comes in the midst of a European steel crisis, which has prompted Tata Steel to reconsider [...]
FTSE 100 charges towards 14-month high as miners gains August 8, 2016 The FTSE 100 charged higher this morning, as miners clambered towards the top of the index. It was 0.46 per cent higher to 6,822.53 points this morning, after hitting a one-year high on Friday. It had been buoyed by a BoE interest rate cut, £70bn of additional quantitative easing and a new round of cheap loans which could pump £100bn of [...]
Randgold share price falls after it suffers “toughest” second quarter in years August 4, 2016 Shares in Randgold Resources closed down 3.84 per cent to 8,635p today, after the gold miner suffered one of its "toughest" quarters in years. The figures Second quarter profit fell eight per cent year-on-year to $49m (£37.3m) due to decreases in mining, as well as increased exploration expenditure. This came as sales rose slightly to 354.4koz from 354.8koz [...]
China warns EU steel tariffs will hurt the bloc’s manufacturers August 4, 2016 China warned that fresh EU anti-dumping tariffs on its steel imports would hurt part of the struggling region's already struggling manufacturing sector. It comes after the European Commission said today that it would levy retroactive anti-dumping duties on imports of certain cold rolled steel products, used in the construction and automotive industries. Read more: Union calls on [...]
Serco shares jump 16 per cent as it swings to profit August 4, 2016 Serco shares closed up 10.28 per cent to 130.90p today, after the outsourcer hiked its profit forecast for the second time this year. The figures The FTSE 250-listed company made a pre-tax profit of £58.1m in the six months ended 30 June, up from a loss of £16m a year earlier. This came despite revenue falling seven per [...]
August 4, 2016 One of the eponymous casinos founded by the controversial US republican nominee Donald Trump is shutting its doors after years of losses. Trump Taj Mahal in Atlantic City, which is no longer owned by the billionaire businessman, is closing in the wake of a crippling strike. Read more: Why this high-ranking London-based asset manager supports Donald Trump Its current [...]
EDF chief knew government wanted to delay Hinkley decision August 3, 2016 The head of EDF knew the British government would push back its final decision on the controversial Hinkley Point C nuclear power plant. EDF has previously said it understood why Whitehall needed a "little time" to consider the project. Read more: How seven City types reacted to the Hinkley Point decision Directors told the Financial [...]
This veteran entrepreneur is a step closer to mining gold in Ireland August 3, 2016 There could be a pot of gold at the end of the rainbow for serial entrepreneur John Teeling. Connemara Mining, the Aim-listed firm which Teeling chairs, said today that it's found multiple veins of gold running through rocks at a high grading of 5.84 grams per tonne. It comes after a similar find last month. John Teeling told City [...]
Global oil clears $42 mark but oversupply fears loom large August 3, 2016 Oil climbed above $42 per barrel today, but concern about the pace of the market recovery remains. Brent crude, the global benchmark, rose 1.60 per cent to $42.47 per barrel in late afternoon trading. West Texas intermediate, the US benchmark, rose 1.82 per cent to $40.23. They were supported by US government data which showed oil [...]
