Will the South32 demerger pay off for BHP? Ahead of the shareholder vote on Wednesday, Barry Dawes, head of Resources at Paradigm Securities, explains why the demerger of BHP Billiton will be a positive move.
Will BHP shareholders back demerger plan? Shareholders of BHP Billiton will meet in Perth and London on Wednesday to vote on the miner's plan to demerge into two new entities, BHP Billiton and South32.
COLUMN-Iron ore reality check shows small, but significant change: Russell --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 4- It's time for a reality check all round in the iron ore market. Iron ore ended last week at $56.20 a tonne, having retreated from the $59.20 reached on April 27, leaving the steel-making ingredient down 21 percent so far this year.
METALS-Shanghai copper up 3 pct, plays catch up after holiday MELBOURNE, May 4- Shanghai copper rallied three percent on Monday as markets reopened after a long weekend, with traders banking on further supportive steps from China to shore up consumer demand. *The most-traded July copper contract on the Shanghai Futures Exchange climbed by 2.8 percent to 45,320 yuan a tonne by 0121 GMT. LME copper chalked up more than 6...
BHP's South32 risks tough market debut, M&A talk swirls Reflecting this uncertainty, analyst valuations vary widely, with Morgan Stanley predicting it may start with a market worth of A $8.5 billion and Investec around $12 billion. But if commodity prices are weak, it's going to be a bit more problematic, "said Paul Xiradis, chief executive of Ausbil Investment Management, a BHP Billiton Ltd shareholder.
| By: Sonali Paul and Silvia Antonioli
FTSE 100 ends higher; Lloyds closes up 5% U.K. equities closed higher on Friday, with the majority of European markets and many international markets closed for the Labor Day holiday.
| By: Holly Ellyatt
Agreement addresses coal supply for New Mexico power plant The current coal contract for the San Juan Generating Station expires in 2017. That, along with uncertainty about the plant's ownership, have been sticking points as New Mexico regulators consider plans for closing part of San Juan and shifting to other sources of electricity. "Securing these two agreements provides clear evidence of our ability to execute...
Source: The Associated Press
METALS-Copper hits highest since December on China hopes LONDON, May 1- Copper prices rose on Friday to their highest since December thanks to seasonal demand and hopes for economic stimulus measures in top consumer China. Three-month lead on the London Metal Exchange was untraded in official midday rings but last bid up 1.2 percent to $2,135 a tonne from $2,110. Copper hit a session high $6,375 a tonne.
| By: Maytaal Angel
Church of England blacklists THESE fuel investments The Church of England has decided to blacklist coal & tar sands investments, in a striking victory for campaigners seeking to make fossil fuels unpopular.
Source: Financial Times
| By: Pilita Clark, Environment Correspondent