Two analyst downgrades take big chunk out of Rio Tinto shares as iron prices set to drop March 7, 2019 Rio Tinto weighed on the London exchange today after the miner was hit by two analyst downgrades in two days, wiping around £4bn off its market value. Shares dropped around 7.6 per cent in the mid afternoon to 4,137p as Societe Generale advised investors to sell their shares in the iron miner. Read more: Iron ore [...]
Mining giant Rio Tinto rewards investors with $4bn special dividend after better-than-expected results for 2018 February 27, 2019 Rio Tinto announced a $4bn (£3bn) special dividend to shareholders yesterday in the light of positive results for 2018, which were ahead of market expectations. The news brings Rio’s total shareholder payout for 2018 to a record $13.5bn. Underlying profits rose two per cent year on year to $8.8bn. The Anglo-Australian mining giant also announced [...]
How will the EU act after Brexit? February 21, 2019 | City Talk Britain's planned departure from the EU exposes many issues. A key one is the economic path the UK will choose. Less commonly asked is what will the rest of the EU do. Perhaps this should figure more in the debate. Last year, President Macron suggested the EU move towards a core, built on closer political [...]
Rio Tinto rises as iron output grows two per cent in line with expectations January 18, 2019 Rio Tinto showed its metal this morning as iron shipments increased two per cent in line with the company’s 2018 guidance. Shares in the FTSE 100 miner had risen around one per cent by the early afternoon to 2,937p as the company reported that copper output had rocketed 33 per cent, ahead of expectations. However forecasts [...]
FTSE 100 index rises on hopes of US – China trade war breakthrough January 18, 2019 The FTSE 100 is up more than one per cent this morning on hopes of a breakthrough in trade talks between the US and China. The index was boosted by hopes of progress in the trade war, which were sparked by news reports suggesting that the US is considering reducing tariffs on Chinese imports. Read more: Markets lift [...]
Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
Rio Tinto to sell stake in African uranium mine for up to $106.5m November 26, 2018 Global mining group Rio Tinto has agreed a deal to sell its stake in Rossing uranium mine in Namibia to China National Uranium Corp for up to $106.5m (£83m). Rio Tinto is selling its entire 69 per cent in Rossing Uranium Limited, which owns the mine, for an initial sum of $6.5m, the company said [...]
Caffeine kick gets greener as Nespresso makes pods from sustainable aluminium November 19, 2018 Breakfast drinks will cause slightly less environmental damage after Nespresso teamed up with Rio Tinto to make its coffee pods from ethical aluminium. The two companies are working to ensure that 100 per cent of the metal in Nespresso’s popular pods are sustainably sourced by 2020. By then every pod that goes into a morning [...]
FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Rio Tinto iron ore production slips after death halts work October 16, 2018 Iron ore production at mining major Rio Tinto slipped in the third quarter (Q3) after the death of a worker at a mine in Western Australia. The company said a truck operator at its Paraburdoo iron ore mine was fatally injured on 15 August and on 9 July a security contractor was killed after a “serious [...]