Rio Tinto shares slide as FTSE falls
Rio Tinto’s shares have fallen sharply on the release of a lacklustre set of results.
Rio Tinto’s shares have fallen sharply on the release of a lacklustre set of results.
Oil prices may have rebounded somewhat on Friday as bargain-hunters stepped in after sharp falls earlier in the week, but commodity producers woes continued to mount as Moody’s released a slew of downbeat announcements.
Black Friday sale mania seemed to have filtered through to stock markets on Friday with large swathes of the global market down on the day.
Generally speaking, when a company announces plans to cut its dividend, sell assets and raise equity, it is not followed by a 10% spike in its share price.
BHP Billiton’s spin off and listing of South32 fell rather flat on Monday, as its shares traded at the lower end of analyst expectations, giving the newly minted firm a market cap around $8.7bn.
Failure to heed the earnings versus cash dichotomy is making mining companies an unappetising prospect for money managers, according to industry experts.
The FTSE 100 could be driven well beyond last weeks record high if a resurgence of the mining sector takes hold, said Brooks MacDonalds investment team director Jonathan Webster-Smith.
The departure of Catherine Raw as co-manager of the BlackRock World Mining Trust for a job in the mining sector raises a number of questions.
Catherine Raw is to leave BlackRock after 12 years at the firm and the investment management industry in April, the board of the World Mining Trust has announced.
After a tough few years miners are doing better this year, but just how sustainable is the turn depends on where you are looking.
The copper market was largely balanced in 2013, despite global mine production rising by 8%, its fastest pace in over a decade, said Thomson Reuters GFMS.
Neil Gregson explains the success behind natural resources’ barnstorming start to 2014 even though mining sector valuations are at multi-year lows and commodity producers are still seeing earnings downgrades.