(Adds company news, futures)July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers, with futures FFIc1 up 0.50 percent ahead of the cash market open.* EXPERIAN: Experian Plc EXPN.L , the world's biggest credit data company, racked up a 10 percent year-on-year rise in revenue in the first quarter at constant exchange...Read More
July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers.* BHP: The union for Chile's Escondida copper mine said Thursday a contract offer presented by the company was unacceptable and threatened to strike unless changes were made. BP PLC: Production at BP Plc's BP.L 413,500 barrel-per-day capacity Whiting, Indiana...Read More
South America-focused Miramont Resources Corp. (CSE: MONT) announced that it has entered into an option agreement to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru. With this acquisition, the combined area of the project has increased to 1,318 hectares. Cerro Hermoso is located in the southern Puno region, 60 kilometres from the city of Juliaca and 5...Read More
(Bloomberg) - The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 2.7 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the...Read More
(Bloomberg) - On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the de...Read More
Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had intersected copper and gold deposits while drilling at Alpala and Aguinaga prospects its 85%-owned Cascabel copper-gold project, in northern Ecuador.Extension drilling at Alpala Central was expected to extend the high-grade mineralization along the lower and northeast margins of the deposit, located about 180 km north of the...Read More
McKinsey tracked 2.8 per cent per annum increase in productivity between 2014 and 2016 mostly due to mines reducing headcounts and limiting spending, says the consultancy in a study published last month.Data is still pending, but McKinsey believes the productivity trend is continuing.McKinsey measures mine productivity using its MineLens Productivity Index, a measure of physical mining output, emp...Read More
Chile-focused copper miner Antofagasta Plc (LON:ANTO) said Friday it had sold its electricity transmission business Centinela Transmisi??n for $117 million.Proceeds from the sale would enable Antofagasta to focus on its core activity of producing copper.The company said the sale of the unit that holds its electricity transmission lines was consistent with its strategy of disposing of its water and...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* China shares recover 2 percent, European shares up 0.7 pct* Dollar hits 6 month high vs yen, euro holds ground* Bund-Treasury spread growing, ECB signals careful steps* Oil prices stabilise after biggest fall in over 2 years* Traders on high alert for trade war moves* Wall Street seen opening high, Trump cheers NATO dealBy Marc JonesLONDO...Read More
(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