Kenneth G. Mondero

Glencore Xstrata Sells Copper Mine to Chinese Consortium

Apr 14 2014 @ 05:03
Glencore Xstrata (LSE:GLEN) is selling its copper mine in Peru to a consortium of Chinese companies, the giant mining firm reported authorities earlier today in London. The FTSE 100 firm said in a statement, it is selling its Las Bambas copper mine project to three Chinese firms for US$5.85 billion in cash, plus reimbursement of capital expenditure […]

Vedanta: Oil and Gas Output Rises; Mining Produce Falls

Apr 10 2014 @ 04:07
London listed mining firm Vedanta Resources, as previously announced, has released its production results for its last quarter and the full year, ahead of a conference call to be attended by senior management at 9:00 GMT today. Vedanta, a diversified natural resources miner with interests in silver, lead, copper, zinc, iron ore, aluminum, power, and […]

UK Manufacturing Data Boost British Pound

Apr 08 2014 @ 06:53
The Pound Sterling ticked upwards after the Office for National Statistics released today, production index for February 2014 that exceeded economists’ estimates. Data gathered by ONS showed total production output increased by 2.7% in February 2014 compared to that a year ago, led by the manufacturing sector, that saw a rise of 3.8% – the […]

World Bank Cuts China, Asean Growth

Apr 07 2014 @ 05:35
World Bank sees a downtrend growth in China’s and other South East Asian economies even as it foresees an accelerating global growth in the next three years. In its April release of the East Asia and Pacific Economic Update, World Bank expects growth in China in 2014 and 2015 to be at 7.6 percent and […]

Quarterly Reports: Who’s In, Who’s Out?

Aug 15 2013 @ 04:28
It’s that time of the year again for publicly-listed firms to submit their reports that show how well (or how bad) they performed. This time, it’s the second quarter finish. Talvivaara Mining At first glance, one can safely assume that Talvivaara (LSE:TALV) did not come out a winner six months since January of this year. […]

BP Oil Spill Fund Almost Depleted

Jul 30 2013 @ 08:50
Still months away from the deadline to settle claims for loss of earnings due to the infamous Gulf of Mexico oil spill, the embattled BP plc (LSE:BP.) said today that the US$20-billion Deepwater Horizon Oil Spill Trust fund has only US$300 million left and the oil giant expects that the remaining balance will be utilised […]

Barclays To Raise £5.8 Billion in New Shares

Jul 30 2013 @ 06:32
Barclays plc (LSE:BARC) announced earlier today it will have a rights issue to raise funds needed to fill the gap as a result of new capital quota mandated by the Prudential Regulation Authority (PRA). In a statement, the British bank said it will raise £5.8 billion worth of new shares for its existing shareholders at […]

Bad Drill Results Drag Oil Stocks Down

Jul 23 2013 @ 03:45
Today is not one of those days for some oil and gas players as a number of listed firms announced unfortunate results of their drilling campaigns in search for hydrocarbon. Falcon Oil & Gas (LSE:FOG) The statement saying “the well then penetrating an alternating sequence of sandstones, siltstones and shales over a gross interval of […]

Primark Gives ABF a Boost

Jul 11 2013 @ 04:59
How a food company got its hand on a fashion retail brand is not what’s important for now. What matters today is the fact that Associated British Foods plc (LSE:ABF), a global conglomerate of food products, is getting a trading boost, thanks to its clothing business Primark. Shares of the FTSE 100 firm jumped 110 […]

Oil Price Spikes as Unrest in Eqypt Looms

Jul 04 2013 @ 07:49
The political unrest in Egypt has made its impact today as benchmark oil prices rose in apprehension of the deadline set by the country’s military on the Arab state’s President Mohammed Morsi to give in to the demands of protesters. In the US, light crude reached a 14-month high to over US$100 a barrel whilst […]
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