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/ 27 November 2008
BHP Billiton chair Don Argus said the group’s decision to drop its plans to pursue rival Rio Tinto is "disappointing after many months of hard work".
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/ 26 November 2008
Rio Tinto said on Wednesday it was confident it could sell billions in assets to pay down massive debt, despite concerns about a lack of buyers.
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/ 25 November 2008
BHP Billiton announced on Tuesday it was dropping its controversial hostile takeover bid for rival Rio Tinto due to the state of the global economy.
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/ 23 October 2008
The Competition Commission has recommended that the Competition Tribunal approve BHP Billiton’s proposed merger with Rio Tinto — with conditions.
BHP Billiton’s may have to pay more for a -billion loan, but this is unlikely to force it to abandon its -billion bid for rival Rio Tinto.
The link to Fabergé and luxury goods is more incongruous. But Gilbertson’s interest in Fabergé, it seems, goes back a while.
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/ 8 September 2008
Lynley Donnelly investigates the reasons behind the quadrupling of the prices of commodities.
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/ 3 September 2008
Rio Tinto has a dual listing in Sydney and a 14,99% stake in London would equate to around 11% in the entire group.
BHP Billiton, involved in a near -billion bid for rival Rio Tinto, has agreed to provide information for SA’s Competition Commission.
The BHP Billiton hearing at the Competition Commission, scheduled to begin on Thursday, has been cancelled, a statement said on Wednesday.
Rio Tinto said on Tuesday that BHP Billiton’s offer to acquire all its shares has now been referred to review by EU competition authorities.
The shipping industry has the mettle to withstand the recession, writes Lynley Donnelly.
The Competition Tribunal will hear an urgent application by resources giant BHP Billiton on Thursday.
Earlier this week BHP Billiton played down fears that the boom, which has driven commodity prices to record levels, could turn to bust.
Emerging-market economies have contributed more than their industrial counterparts to global growth since 2000, BHP Billiton said on Monday.
Stocks were slightly lower at noon on Tuesday with banks dominating the loser board on inflation worries, but miners capped losses on a weaker rand and firm metal prices, traders said. At 11.56am, the all-share index was down 0,23%, weighed by a 1,70% drop in banks.
South African stocks remained lower at noon on Friday as the mining sector continued to take a pounding on weaker commodity prices. At 12.02pm, the all-share index was down 1,03%. Resources fell 2,15%, while the gold and platinum mining indices lost 1,37% and 0,65% respectively.
South African stocks remained modestly weaker at noon on Thursday, with banks weighing heavily on a deteriorating inflation outlook after worse-than-expected producer price inflation data and the South African Reserve Bank governor’s comments that the bank was considering a 200-basis-point interest-rate hike.
South African stocks were sharply lower at noon on Wednesday, weighed by miners on falling metal prices and banks after worse-than-expected inflation data.
At noon, the all-share index tumbled 1,26%. Resources fell 2,14%, the gold and platinum mining indices gave up 2,42% and 2,78% respectively.
South African stocks were lower at midday on Tuesday, pressured by below-forecast gross domestic product (GDP) data, which showed that the quarterly economic growth rate slowed to 2,1%, traders said. At 12.02pm, the all-share index was down 0,71%. Resources fell 1,01%, while the gold- and platinum-mining indices were off 0,42% and 0,72% respectively.
The JSE extended losses at midday on Friday as profit taking-induced selling on resources offset modest gains among banks and financials, traders said. At 12.03pm, the JSE’s all-share index was down 1,24%, weighed by a 1,75% drop in resources. The gold mining index was off 0.18% but the platinum mining index added 0,17%.
The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE’s all-share index was up 0,98% at 33 230,590 after earlier touching a fresh all-time high of 33 309,820.
South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.
The JSE was taking a breather on Tuesday after its recent strong rally, which took the bourse to successive record highs, as some profit-taking set in. However, earlier the all-share index hit yet another fresh record high when it touched 33 263,148. At noon, the JSE’s all-share index was down 0,88%.
South African stocks continued to run in record territory at midday on Monday, buoyed by miners on firmer metal prices while an upbeat mood in overseas markets added to the bullish tone. The market touched 33 116,051 during the session, an all-time high.
South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.
South African stocks were a mixed bag with a weaker bias at noon on Thursday, but brewer SABMiller climbed on above-forecasts year end earnings. At noon, the all-share index was down 0,16%. Resources fell 0,67%, the gold mining index was off 1,62% but the platinum mining index added 0,15%.
South African stocks remained firm at midday on Wednesday as merger talks surrounding BHP Billiton kept heavyweight miners buoyant, but easing metal prices weighed on other mining counters. At noon, the JSE’s broader all-share index was up 0,88% at 32 280,27.
ArcelorMittal chief executive Lakshmi Mittal became chairperson of the steelmaker on Tuesday, increasing his control over the company. ”I could not have asked for a better chairman during the time of integration,” Mittal told the company’s annual shareholder meeting.
South African stocks remained weak at midday on Tuesday with miners the worst causalities on easing metal prices, while falling overseas markets added to selling pressures. At 12.09pm, the JSE’s broader all-share index was down 0,86%, weighed by a 2,88% drop in platinum miners.
South African stocks pulled back from modest gains achieved in early deals to trade flat at noon on Monday, as traders struggled to find a clear-cut path. At midday, the JSE’s broader all-share index was neither here nor there (+0,06%) at 32 154,700. Resources were up 0,20%, while the gold- and platinum-mining indices added 0,53% and 0,22% respectively.
After opening firmer on Friday morning, the JSE had given up its gains by midday and was trading 125 points in the red. A local trader said that after the all-share index posted an all-time high of 32 440,9 earlier, the market saw some profit-taking, particularly in the resources stocks.