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14 Aug 2013 07:24

London pre-open: Flat start expected ahead of data, MPC minutes

Markets are expected to open more or less flat on Wednesday as traders await a barrage of economic reports, including the minutes of the latest Bank of England policy meeting.   As well as the minutes, investors will look out for gross domestic product figures from across the Eurozone, unemployment

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14 Aug 2013 07:10

ENRC first half profit tumbles

Diversified mining group Eurasian Natural Resources Corporation reported a sharp drop in profit after trading was hit by a poor pricing environment, higher finance costs, increased effective tax rate and impairment at Boss Mining. The Kazakh miner said revenue during the half year declined by 1% to

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14 Aug 2013 06:10

Kazakh miner ENRC H1 profit falls 17 pct

LONDON, Aug 14 (Reuters) - Kazakh miner ENRC said on Wednesday its first-half underlying core profit dropped 17 percent, in what could be its final set of earnings as a listed company. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) totalled $944 million for

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12 Aug 2013 16:44

London close: Markets finish lower despite mining strength

Markets were choppy on Monday with early gains on the FTSE 100 being erased by the end of trade as traders reacted to mixed newsflow from Asia and Europe. Even a strong performance in the heavyweight mining sector wasn't enough to push the London benchmark into positive territory today, with Financ

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12 Aug 2013 15:35

Sector movers: Miners jump on Chinese stimulus hopes

Rumours of stimulus measures from top consumer China sparked some strong gains in the mining sector on Monday as stocks extended gains following last week's upbeat economic data from the Asian powerhouse. Traders were reacting to a report from the South China Morning Post (SCNP) which suggested tha

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9 Aug 2013 15:08

Sector movers: Chinese data boosts mining stocks

Upbeat economic data from China boosted share prices in the mining sector on Friday as the outlook improved for the world's top metals consumer. Miners were extending gains made on Thursday after Chinese trade figures were well received by the market with both imports and exports smashing forecasts

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8 Aug 2013 16:29

UPDATE 1-ENRC directors tell investors to "seriously consider" bid

LONDON, Aug 8 (Reuters) - ENRC's independent directors said on Thursday that a lack of alternatives and an imminent delisting meant shareholders should "seriously consider" an offer from its founders, despite a price they said undervalued the Kazakh mining company. A group including ENRC's

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8 Aug 2013 15:28

ENRC committee suggest shareholders consider offer

The committee of independent directors of Eurasian Natural Resources Corp (ENRC) has suggested shareholders should 'seriously consider' the offer from its founders despite grave reservations about the price. The independent directors lamented that the revised offer from a consortium of the company

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8 Aug 2013 14:23

Independent directors tell ENRC shareholders to consider bid

LONDON, Aug 8 (Reuters) - The independent directors of Kazakh miner ENRC said on Thursday that a lack of alternatives and an imminent delisting meant shareholders should consider a buyouy offer from its founders, despite a price they said undervalued the group. "Given the risks and uncertai

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8 Aug 2013 08:21

London open: Chinese trade data lifts markets after sell-off

Better-than-expected trade figures from China helped push markets in positive territory on Thursday morning but sentiment was still fragile following the heavy sell-off the day before. Concerns about a tapering of stimulus by the Federal Reserve and an underwhelming forward guidance statement from

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8 Aug 2013 07:10

Thursday broker round-up UPDATE

Aquarius Platinum: Investec places its target price (prev.: 46p) under review, while keeping its hold recommendation. Avocet Mining: Canaccord Genuity upgrades from sell to hold with an unchanged target price of 112p. BBA Aviation: Citi raises target price from 292p to 335p reiterating a buy recom

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7 Aug 2013 19:33

UPDATE 1-ENRC founders say could sell international assets

* ENRC shareholders have until Aug. 28 to accept offer * Bidders include trio of founders, government of Kazakhstan * Assets include Mozambique coal, Brazil iron ore, Congo copper By Clara Ferreira-Marques LONDON, Aug 7 (Reuters) - The founders of Kazakh miner ENRC , biddi

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7 Aug 2013 14:50

Bidders for miner ENRC say could sell international assets

LONDON, Aug 7 (Reuters) - The founders behind Kazakh miner ENRC, bidding to buy out minority investors, said in an offer document published on Wednesday that they could sell some of the group's international assets after a "thorough strategic review". Eurasian Resources, a group of bidders

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7 Aug 2013 07:28

London pre-open: Falls expected ahead of BoE's inflation report

Markets are expected to open firmly in the red on Wednesday morning ahead of the Bank of England's inflation report, the first under the governorship of Mark Carney.   The Governor, who took over from Mervyn King in early July, is expected to unveil forward guidance today in an attempt to convince c

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7 Aug 2013 07:18

ENRC sees Q2 production increase across the board

Diversified mining group Eurasian Natural Resources Corporation (ENRC) saw production increase across all its major commodity classes in the three months ended June 30th with iron ore having its best quarter for three years. Iron ore extraction totalled 10,874 thousand tonnes (kt) in the second qua

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