(Adds company news and futures)July 12 (Reuters) - Britain's FTSE 100 .FTSE index is to open 26 points higher at 7,618 on Thursday, according to financial bookmakers, with futures FFIc1 up 0.28 percent ahead of the cash market open.* PREMIER OIL: Premier Oil 's PMO.L board has approved its Tolmount gas project in the UK North Sea ahead of a final investment decision in the third quarter and the c...Read More
July 12 (Reuters) - Britain's FTSE 100 .FTSE index is to open 26 points higher at 7,618 on Thursday, according to financial bookmakers.* SKY: Comcast Corp CMCSA.O on Wednesday raised its offer for Britain's Sky SKYB.L in a deal valuing the pay-TV group at $34 billion, challenging a raised bid from Twenty-First Century Fox FOXA.O . BHP BILLITON: BHP Billiton Plc BLT.L , BHP.AX handed in a proposal...Read More
* MSCI Asia-Pacific index gains 0.6 pct, Nikkei bounces 1.3 pct* Spreadbetters see European stocks opening higher* Asian markets consolidate after previous day's big tumble* Dollar stands tall amid trade fears, hits 6-mth high vs yen* Copper pulls up from 1-year low, crude also reboundsBy Shinichi SaoshiroTOKYO, July 12 (Reuters) - Stocks and commodities recovered slightly on Thursday as markets t...Read More
* MSCI Asia-Pacific index gains 0.05 pct, Nikkei bounces 1.1 pct* Asian markets consolidate after previous day's big tumble* Dollar stands tall amid trade fears, hits 6-mth high vs yen* Oil, copper rebound modestlyBy Shinichi SaoshiroTOKYO, July 12 (Reuters) - Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears o...Read More
SANTIAGO, July 11 (Reuters) - BHP Billiton Plc handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23,000 bonus per worker, the company said on Wednesday.The offer falls short of fulfilling some of the demands laid out by the union previously.In its proposal in early June, the union asked fo...Read More
JAKARTA/TORONTO, July 12 (Reuters) - Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world's second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion.The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, l...Read More
As if ongoing probes on both sides of the Atlantic weren't enough to deal with for miner and commodities trader Glencore (LON:GLEN), now a group of shareholders is mulling potential actions against the company for causing them to lose money.US law firm Quinn Emanuel, which is representing Glencore investors, said Thursday the recent news of imminent and ongoing probes into the Swiss firm's dealing...Read More
World's No.2 miner Rio Tinto (ASX, LON, NYSE: RIO) said Thursday it had sold its 40% stake in the giant Grasberg mine, the world's second largest copper operation, to Indonesia's state mining company PT Indonesia Asahan Aluminium (Inalum) for $3.5 billion.The deal is expected to end to a long-drawn-out, three-way dispute over the mine, which has been centred on bringing local ownership of Grasber...Read More
* U.S. proposes fresh tariffs on $200 bln worth of China goods* Boeing (NYSE:BA), Caterpillar lead decliners on Dow* Chipmakers slide* Indexes down: Dow 0.9 pct, S&P 0.7 pct, Nasdaq 0.6 pct(Repeats to include in-line graphic. No changes to text)By Caroline ValetkevitchNEW YORK, July 11 (Reuters) - U.S. stocks fell on Wednesday, breaking a four-session streak of gains after Washington's threat...Read More
* U.S. raises stakes in China trade war* Wall Street dips, Brent prices nosedive* Asian, European stocks fall and metals slide(Adds Wall Street close, recasts with U.S. dollar, updates throughout)By Hilary RussNEW YORK, July 11 (Reuters) - Concerns about an escalating U.S.-China trade war made markets topsy-turvy on Wednesday, with U.S. stocks breaking a four-session winning streak and Brent crude...Read More
* U.S. proposes fresh tariffs on $200 bln worth of China goods* Boeing (NYSE:BA), Caterpillar lead decliners on Dow* Chipmakers slide* Indexes down: Dow 0.9 pct, S&P 0.7 pct, Nasdaq 0.6 pct(Updates to close)By Caroline ValetkevitchNEW YORK, July 11 (Reuters) - U.S. stocks fell on Wednesday, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $20...Read More
* U.S. raises stakes in China trade war* Wall Street dips, but tariff effect muted* Asian, European stocks fall, safe-havens gain broadly* Copper, zinc slide and oil retreats (Adds settled oil prices; updates throughout)By Hilary RussNEW YORK, July 11 (Reuters) - U.S. stocks extended losses on Wednesday, set to snap their four-day winning streak, and metals prices slumped as U.S. threats of tariff...Read More
* US proposes fresh tariffs on $200 bln worth of China goods* Boeing (NYSE:BA), Caterpillar lead decliners on Dow* Chipmakers slide* Indexes down: Dow 0.8 pct, S&P 0.6 pct, Nasdaq 0.4 pct(Updates to late afternoon)By Caroline ValetkevitchNEW YORK, July 11 (Reuters) - U.S. stocks looked set on Wednesday to snap a four-day winning streak after Washington's threat to impose tariffs on an addition...Read More
* US proposes fresh tariffs on $200 bln worth of China goods* Boeing (NYSE:BA), Caterpillar lead decliners on Dow* Tech shares slide, chipmakers lead losses* Indexes down: Dow 0.82 pct, S&P 0.66 pct, Nasdaq 0.53 pct(Changes comment; updates details, prices)By Amy Caren DanielJuly 11 (Reuters) - U.S. stocks fell on Wednesday and looked set to snap their four-day winning streak after Washington'...Read More
* U.S. raises stakes in China trade war* Wall Street dips, but tariff effect muted* Asian, European stocks fall, safe-havens gain broadly* Copper, zinc slide and oil retreats (Adds Wall Street open; updates throughout; changes dateline; previous LONDON)By Hilary RussNEW YORK, July 11 (Reuters) - Stocks fell and metals prices slumped on Wednesday as U.S. threats of tariffs on an additional $200 bil...Read More
TORONTO, July 11 (Reuters) - Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia.Barrick, which looks likely to lose its rank as the world's biggest gold producer this year, maintained its 2018 output estimate of between 4.5 mil...Read More
MELBOURNE, July 11 (Reuters) - Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said.Denham, which closed a new $550 million mining fund sooner than expected on Monday, has already acquired two copper projects in South America and aims to invest the rest in...Read More
July 11 (Reuters) - Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.InvestChile, an arm of the economics ministry, said foreign direct investment (FDI) increased by 655 percent over the same period last year, and it w...Read More
The price of copper sank on Wednesday, losing more than 4% in New York to $2.7170 or $5,990 a tonne on the Comex market, its lowest level since July 20 last year.It was one of the busiest days of 2018 on commodity futures markets with with over 2.1m tonnes of copper worth $12.7 billion exchanging hands by early-afternoon. Wednesday was the ninth down day of the last 10 trading sessions for copper....Read More
As the U.S. becomes increasingly import-reliant for the minerals needed for military equipment and technologies, 62 percent of voters support U.S. government action to encourage the use of domestically-mined minerals and decrease reliance on foreign-imported minerals, according to a poll conducted by Morning Consult for the National Mining Association (NMA)."Our defense industrial base supply chai...Read More