FTSE 100 havers and then finally decides to finish higherUS benchmarks higherMelrose, GKN up after broker commentSage sees biggest fall in years after warning on revenueLondon's top-share index battled its way into positive territory at the end of the week.The FTSE 100 closed at 7,265, up 6 points on the day."US President Trump reconsidering his position on TPP - the trans-pacific trade deal - was...Read More
Morning Market Breakdown, April 13: Continuing their modest pace from Thursday's close, most major markets slowly inched forward Friday morning.Read full newsRead More
A new report issued by BMI research states that global bauxite production growth will accelerate over the coming years as new projects come online in Australia, India's production ramps up, and Indonesia re-enters the market following the end of the mineral ore export ban.According to the firm, Indonesia is bound to become a big player as it reclaims its share of bauxite exports to China. "We fore...Read More
Ontario is investing in local businesses in the Greater Sudbury Region that will help strengthen the region's agri-food processing industry.Glenn Thibeault, MPP for Sudbury, made the announcement on behalf of Michael Gravelle, Minister of Northern Development and Mines, today in Sudbury at Crosscut Distillery Ltd. With support from the province's Northern Ontario Heritage Fund Corporation (NOHFC),...Read More
ECR Minerals PLC (LON:ECR) CEO Craig Brown and geologist Dr Rodney Boucher tell Proactive Investors they've begun a drilling programme at the Bung Bong gold prospect at the Avoca tenement in Victoria.Dr Boucher says geochemical results and geological observations at Bung Bong have indicated several fault-related quartz and quartz spurs to test as potential high-volume targets for gold mineralisati...Read More
Private UK postal delivery group Royal Mail PLC (LON: RMG) saw shares deliver a 2.21% drop on Friday as RBC Capital put out a note.The firm will need to raise its full year dividend well above market forecasts to support the current share price, the broker said.It downgraded the stock to 'underperform' from 'sector perform' yet raised its target price to 500p from 465p.The broker said the postal o...Read More
David Ciclitira, executive chairman of Live Company Group Plc (LON:LVCG), tells Proactive Investors they're taking their themed shows on the road after setting up a new division, BRICKLIVE Touring.Kicking things off is an exhibition called BRICKLIVE Animal Paradise, which is designed to educate the LEGO fan community about endangered species and will feature more than 65 LEGO animals, including a...Read More
Oil & gas commentator Malcolm Graham-Wood discusses what's been a great start for Echo Energy's Argentina workover programme.The existing well, tagged CSo-85, perforated a previously untapped gas reservoir which flowed to surface without any further intervention. Gas flows from the reservoir are estimated at 2mln cubic feet per day.Graham-Wood also talks SDX Energy and confirmation its latest...Read More
There will once again be a bit of a retail theme coming through in the coming week, with updates due from a number of high street names including Debenhams PLC (LON:DEB), JD Sports PLC (LON:JD.), and Primark owner Associated British Food PLC (LON:ABF).The discount clothing stores chain has established itself as the food to retail conglomerate most important division in recent years.Primark already...Read More
Billionaire Andrew Forrest is studying a proposed 1,500-mile (2,400-kilometer) transcontinental natural gas pipeline as part of his iron ore company's strategy to diversify and to boost Australia's power supply network.Fortescue Metals Group Ltd. confirmed it has undertaken work for a duct that would link the gas-rich state of Western Australia with fuel-strapped East Coast power markets where the...Read More
Mining Capital's Alastair Ford discusses lithium, copper and the electric vehicle revolution.''It's an interesting dynamic, the lithium industry, on the one hand the price has been strong, it remains strong and we've seen a doubling in the price over the last 12 months and the price has tripled since 2015 ....but some pundits in the market are beginning to wonder how long this can last''.''A...Read More
(Bloomberg) - A former lobbyist for one of the largest U.S. coal mining companies won confirmation to be the Environmental Protection Agency's No. 2 official, putting him in position to take over the agency, at least temporarily, if embattled Administrator Scott Pruitt were to leave.Andrew Wheeler, a former Republican Senate staffer whose client list at lobbying firm Faegre Baker Daniels LLP incl...Read More
Ontario is investing in 16 local breweries to help expand economic opportunity, increase tourism and create jobs across the North.Michael Gravelle, Minister of Northern Development and Mines, was joined by Bill Mauro, MPP for Thunder Bay-Atikokan today at the Sleeping Giant Brewing Company in Thunder Bay to make the announcement. The microbrewery received funding through the Northern Ontario Herit...Read More
Shares in Canada's Nemaska Lithium trading in Toronto jumped 4.7% at the open on Friday after the company inked a $150m streaming deal with private equity giant Orion Mine Finance.The streaming agreement - an upfront investment in exchange for a share of future production, usually at a steep discount - lifted the Quebec City-based company's market value to $412m.Nemaska is building the Whabouchi h...Read More
LONDON (Reuters) - Banks' metals-related revenues exceeded their earnings from the oil sector last year for the first time since 2014 as low and relatively stable crude prices discouraged hedging activity, but this is unlikely to be the start of a new trend.Banks' commodity revenue has been on a steady downward path in recent years as they have exited or slimmed down their commodity businesses due...Read More
(Bloomberg) - It's been an unprecedented week for aluminum.The U.S.'s decision to blacklist United Co. Rusal, the world's second-biggest aluminum maker, set off a rush to secure supply. Prices rose by a record this week, with ripple effects felt by car makers in Atlanta, Swiss commodity traders and processing plants in the Irish countryside."There's a scramble to replace Russian material with non...Read More
LONDON, April 13 (Reuters) - Rio Tinto said it will declare force majeure on certain customer contracts after the U.S. imposed sanctions on its partner Russian aluminium producer Rusal.The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with U.S. sanctions.Rio also said it was reviewing Rusal's 20 percent stake in the Queenslan...Read More
LONDON/HONG KONG, April 13 (Reuters) - China Molybdenum International (CMOC) Chief Executive Kalidas Madhavpeddi has left the company and the parent group's Executive Chairman Chaochun Li has replaced him as acting CEO.A China-based spokesman said the move was a normal personnel change, adding "having the chairman serve as overseas CEO at the same time shows the company's emphasis on the overseas...Read More
A young gold miner works in Makala gold mine camp near the town of Mongbwalu in Ituri province, eastern Democratic Republic of Congo. REUTERS/Goran TomasevicRead full newsRead More
A young gold miner works in Makala gold mine camp near the town of Mongbwalu in Ituri province, eastern Democratic Republic of Congo. REUTERS/Goran TomasevicRead full newsRead More