|Bid||93.03 x 0|
|Ask||93.32 x 0|
|Day's Range||92.20 - 93.73|
|52 Week Range||69.41 - 97.29|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||11.83|
|Forward Dividend & Yield||4.22 (4.59%)|
|1y Target Est||60.42|
While both indexes have risen for the last five sessions on hopes that a potentially disruptive no-deal Brexit would be averted, the FTSE 250 slumped on growing concerns that May's deal would be rejected for the third time by parliament. The FTSE 100 was up 0.6 percent by 1159 GMT, as global mining giants were lifted by a surge in iron ore futures on supply concerns after Vale's output cuts.
Rio Tinto said on Monday it would recommend that shareholders vote against a resolution requiring the miner to report its direct emissions and those of its customers in greater detail. In a notice ahead of its annual general meeting in May, Rio said shareholders should vote against the proposed rule change that would have it set transition plans that adhere to the goals of the Paris Agreement to limit global warming to 1.5 degrees Celsius (2.7 Fahrenheit).
A "virtual human" suddenly steps out at a blind bend, but the engineer in the Volvo car's driving seat on the test track doesn't flinch, leaving it to software to take evasive action. Private test tracks like the one owned by Sweden's AstaZero are playing an increasing role as manufacturers like Volvo put self-driving cars through their paces following high-profile setbacks on public roads, auto executives say. Automakers and technology companies are locked in a race to bring these vehicles into commercial use by 2022, but their efforts on public roads stumbled last year when an Uber test car hit and killed a pedestrian.
Rio Tinto Group last year became the first major miner to stop digging up coal altogether. Glencore Plc, historically one of the commodity’s most vocal boosters, has promised to cap production at current levels. “We have a portfolio free of coal and oil and gas,” Rio’s Chief Executive Officer Jean-Sebastian Jacques told investors after annual results last month.
Rio Tinto is in talks to move into the next phase of an agreement with Apple, Chief Executive Jean-Sebastien Jacques said on Friday, as the miner looks to transition its aluminium business to tap a low-carbon economy. Last May, Rio and Alcoa announced a joint venture, backed by Apple, to commercialise by 2024 a process that emits oxygen and replaces all direct greenhouse gas emissions from the traditional smelting process for aluminium. Bauxite is the raw material for aluminium, which is used in everything from beer cans to aeroplanes and is expected to gain greater use in a decarbonising economy as a lightweight alternative to steel.
Turquoise is a semi-precious stone that gets its bluish colour from a mixture of copper and aluminium. In Mongolia what miners want is the former. At the country’s huge Oyu Tolgoi project, Anglo-Australian ...
Hedge fund Odey Asset Management has launched a new commodities fund which, according to the Financial Times, has taken a short position in Rio Tinto's giant Oyu Tolgoi copper mine in Mongolia. The Odey Concentrated Natural Resources Fund, which launched on March 1, will invest in the commodity sector, using both long and short positions in a range of asset classes, but mostly equities, according to Odey's website. A spokeswoman for Odey declined to provide details, but the Financial Times reported the largest short position of the fund was in Turquoise Hill Resources, the Canadian firm that partly owns Oyu Tolgoi.
A former executive assistant to Rio Tinto’s chief financial officer is betting against his old employer with a new vehicle at one of the UK’s biggest hedge funds. Henry Steel is the manager on the Odey Concentrated Natural Resources Fund, which will take a mix of long and short equity positions and could manage up to $1bn. , the Canadian-listed company through which Rio Tinto owns a giant underground copper mine in Mongolia.
Australian mining magnate Lang Hancock famously discovered the world's biggest iron ore deposit when he noticed the red-stained cliffs of a canyon while flying over the Outback in the 1950s. Now, the days when massive mineral deposits could be simply spotted by plane are gone, so miners are adopting new lab techniques and machine-led mapping to detect metal traces in everything from sand to gum tree leaves and groundwater. Australian miners are taking a deeper look at the 80 percent of the country that lies "under cover" - obscured by metres of sediment and sand, particularly in the desert interior, across an area twice the size of India.
In announcing giant revenues and super-massive dividends, Australian mining colossus Rio Tinto delighted markets, shareholders... and maybe even roboticists too! Earlier this week, Rio declared consolidated group revenues of US$40.5 billion and underlying earnings of US$8.8 billion for the 2018 calendar year, two percent up on the previous year. Australian iron ore from the Pilbara region was the major earner pulling in US$18.4 billion on the back of about 338 million tonnes, of which 282 million tonnes of iron ore production belongs to Rio.
MILAN/LONDON (Reuters) - European shares scored a second straight month of gains in February after a choppy session on Thursday when optimism about European banks offset caution over U.S.-China trade. On a monthly basis, European shares rose 3.9 percent after a 6.2 percent increase in January. "What we're really waiting for, is more concrete news on trade", said Mikael Jacoby, head of continental European Equity sales trading at Oddo Securities.
SYDNEY—Rio Tinto PLC pledged record returns to shareholders as the mining industry’s cash bonanza continues, even as executives signal concern over the global outlook. Rio Tinto, the world’s second-biggest mining company by market value, said Wednesday annual capital returns would total $13.5 billion for 2018, including a final dividend valued at $3.1 billion and a special dividend amounting to $4.0 billion. Rio Tinto, which handed investors a handsome $9.7 billion in 2017, joins a parade of global mining companies delivering cash to shareholders as they reap the benefits of asset sales and strong balance sheets, repaired after a commodity slump a few years back.
Before the opening bell on Wednesday, Rio Tinto PLC (RIO) released its financial results for 2018. Warning! GuruFocus has detected 4 Warning Signs with RIO. Rio Tinto recorded $6.3 billion in cash inflow from operations and $7.2 billion in cash inflow from divestments.
Moody's Investors Service ("Moody's") upgraded Freeport-McMoRan Inc's (FCX) Corporate Family Rating (CFR) and Probability of Default rating to Ba1 and Ba1-PD respectively from Ba2 and Ba2-PD respectively. The senior unsecured ratings of FCX were upgraded to Ba1 from Ba2. The senior unsecured ratings of Freeport Minerals Corporation (FMC), which have a downstream guarantee from FCX, were upgraded to Baa2 from Baa3.
M&S slumped 12.5 percent and was on course for its steepest one-day decline in more than 2-1/2 years after saying it would finance the Ocado deal from a rights issue to raise up to 600 million pounds and a dividend cut. The blue-chip index, which earns a major chunk of its earnings in dollars, was also dragged down by a stronger pound and tensions between India and Pakistan. Sterling rallied in the previous sessions on growing hopes of a Brexit delay as Prime Minister Theresa May offered lawmakers the chance to vote for a no-deal or delay Britain's European Union divorce.
Lowe's LOW – The home improvement retailer beat estimates by a penny a share , with quarterly profit of 80 cents per share. Revenue was slightly below forecasts, and a 1.7 percent comparable-store sales increase was below the Refinitiv forecast of a 2.1 percent rise. Best Buy BBY – The electronics retailer reported adjusted quarterly profit of $2.72 per share, 15 cents a share above estimates.
After last month's deadly tailings dam disaster at a Vale SA facility in Brazil, Freeport-McMoRan Inc Chief Executive Richard Adkerson sent a memo to his 29,000 employees telling them to immediately report any safety concerns about the scores of dams his company operates. The disaster, which killed more than 300, has sparked a push to set global standards for the construction and inspection of tailings dams, which store the muddy detritus of the mining process, as well as emergency preparations. Freeport, the world's largest publicly traded copper producer, spends several hundred millions of dollars per year on tailings dams upkeep and has not had a tailings dam failure since it acquired Phelps Dodge in 2007.
to neutral from buy “to reflect a more demanding valuation and full expectations,” the investment bank says. The company reported a sharp decline in 4Q net profit, to EUR255 million from EUR530 million. PostNL’s underlying business is still under pressure, the brokerage notes.
Balancing the two can get tricky, particularly when fossil fuel prices are high. Meanwhile, coal prices have been doing quite well. Glencore’s underlying Ebitda was up 8% in 2018, largely thanks to coal.
Flush from the recent sale of its stake in the Grasberg copper mine in Indonesia and other non-core aluminium and coal assets, Rio will have returned total cash of $13.5 billion to shareholders for the year, after declaring a $4 billion special dividend of $2.43 per share and a final dividend of $1.80. The special dividend was "far bigger than expected," said analyst Glyn Lawcock of UBS in Sydney.
PLC (RIO.LN) said it will pay a special dividend worth US$4 billion as it recorded a 56% rise in annual net profit. The world’s second-biggest miner by market value on Wednesday reported a net profit of US$13.64 billion for 2018, up from a profit of US$8.76 billion a year earlier. Rio Tinto said it would use the cash from that sale to fund a special dividend of US$2.43 per share, which fattened a capital return that has also involved buying back shares worth up to US$3.2 billion.