I point readers to the parable of the ox from Saturday’s FT. Perhaps a popular revulsion at the misallocation of resources to regulation can be kicked off. My further objection has always been the presumptuous nature behind the law relating to regulation and the conduct of the regulators themselves. But at least a start is…
Correction: The item covering the Srebrenica memorial stone which I offered yesterday was incorrect in two respects. The first was the date which should have been 11th July 2015 and the second, rather more important, was that it was not several hundred Muslims who were slaughtered but 8,500 men and boys. ***** It is worth…
Surveying the Damage Monday’s China-led stock market sell-off (dubbed “Brutal Monday” by Reuters and “The Shanghai Shockwave” by City AM) was a horrendous day of losses for most stocks globally. But for the mining sector in particular, it was just the latest slump in a formidable, four-year bear market. Whilst it may be premature to…
Glencore’s Bedfellows As Glencore heads towards a financing showdown with ASX-listed Aurelia Metals on Monday, its sometimes predatory approach suggests its relationship with junior partners must be tense. “There may be synergies and that is terrific,” Rio Tinto’s boss Sam Walsh quipped last year, having rebuffed a coal joint-venture with Glencore, “but if you lose…
Is Glencore Sitting on Copper or TNT? Panic begins to grip the market, but Glasenberg is muscling in on new assets… The market is losing confidence in Glencore. On rising volume, its shares have fallen 45 per cent this year, touching a record low on Wednesday of £1.59, as investors increasingly fret over its gross…
The company is reducing costs and buying back shares; they have maintained the interim dividend and are looking for a better second half. The shares strike me as being dramatically oversold and a screaming buy even if the share price chart looks weak. I think we have heard a bell ring. We have now had…
– The FTSE 100 closed the day at 6,568.33, a decrease of 2.86 points. – The FTSE 250 rose by 157.38 points to finish at 17,595.47. – The FTSE All Share climbed by 4.56 points to 3,593.90. – The FTSE AIM All Share finished at 750.77, a rise of 2.15 points. Another day, another devaluation.…
Anglo American set for further trouble, Liberum Capital believes… Mining investors have found a new market darling. It is not BHP Billiton’s spin-off, quirkily named South32, after the line of latitude connecting its mines south of the equator. Nor is it Rio Tinto, which surprised to the upside with its half-year results last week. It…
