European shares closed lower lower on Monday with basic resources stocks weighing heavily on bourses after weak data from China.» Read More
LONDON, April 16- When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit. Europe's oil refining guru, Marcel van Poecke, believes the move will be repeated one day. They say:' We can buy BP for upstream and Valero for downstream.
SHANGHAI, April 15- China's yuan softened on Tuesday after the central bank fixed its official midpoint at a seven-month low, as traders said major Chinese industrial companies were stocking up on dollars for trade as well as mergers and acquisitions.
Glencore, named as a co-conspirator, also bought a number of Brent cargoes to satisfy a tender to supply refiners in India. STRATEGY: BP Plc was alleged to have bought nearly all the propane in the Mont Belvieu storage fields in advance, then held on to it until the end of the month, when other companies that needed the gas on a northern pipeline would pay up for it.
Glencore says it has reached an agreement to buy all outstanding Caracal shares for 5.50 pounds each, a 61 percent premium on the Canadian-based firm's stock price Friday. The two companies announced the deal Monday, a day after Glencore said it was selling its Las Bambas copper mine project in Peru to a Chinese consortium for $5.85 billion in cash.
*Ukraine's ultimatum to separatists saps risk appetite earlier. LONDON, April 14- Global equities rose on Monday on robust U.S. retail sales data, rebounding from last week's steep decline, while the euro fell, prompted by the European Central Bank's strongest signal yet that it would ease policy to cool the single currency.
*Deal will enable Glencore to expand in upstream sector. LONDON, April 14- Mining company Glencore Xstrata has agreed to buy Chad- focused oil company Caracal Energy for about 800 million pounds, a deal that will allow the commodity giant to expand upstream in the oil sector.
*Ukraine's Monday ultimatum to separatists saps risk appetite. *Wall Street eyes first big week of Q1 earnings. LONDON, April 14- There was no let-up for bruised share markets on Monday as growing fears of a military conflict in Ukraine followed last week's heavy sell-off on Wall Street, Tokyo and major European exchanges.
April 14- A Chinese consortium bought the Las Bambas copper mine in Peru from Glencore Xstrata for $6 billion, the high end of analysts' forecasts in China's biggest acquisition of a mine, showing the strength of its long-term need for copper.
LONDON, April 14- European equities slipped to a three-week low on Monday, led lower by technology stocks following a sharp U.S. sell-off on the tech-heavy Nasdaq, with tensions in Ukraine prompting investors to shun riskier assets.
*Ukraine's Monday ultimatum to separatists saps risk appetite. LONDON, April 14- Bruised share markets took a further battering on Monday on growing fears of military conflict in Ukraine.
BEIJING, April 14- Hong Kong shares finished slightly higher on Monday in subdued trade, with a strong performance from blue chips including Hong Kong Exchanges and Clearing Ltd pulling up the index.
PARIS, April 14- European stocks fell extended last week's retreat on Monday after late losses on Wall Street and as tensions in Ukraine flared again.
BEIJING, April 14- China stocks fell on Monday, with financial shares losing 1.1 percent as investors locked in gains after last week's announcement that Hong Kong and China investors can buy shares in companies listed on each other's bourses.
NEW YORK— Glencore Xstrata Plc has agreed to sell its copper mine project in Peru for $5.85 billion in cash.
WASHINGTON- For a bunch of people who just agreed the global economy is doing better, top officials from the world's rich and poor nations sound rather worried. -IMF-ECONOMY/, moved, by Jan Strupczewski and Krista Hughes, 870 words. PARIS- Two years ago, Greece's debt crisis almost brought the euro zone crashing down.
*Glencore says proceeds will materially de-leverage balance sheet. Glencore agreed to sell Las Bambas to secure approval from China's competition authorities for its takeover of miner Xstrata because Beijing feared the merged group would have too much power over the copper market.
Glencore said it had sold its interest to a consortium owned 62.5 percent by the Hong Kong- listed MMG Ltd, 22.5 percent by Guoxin International Investment Corp Ltd and 15.0 percent by Citic Metal Co Ltd.. Glencore agreed to sell the mine in return for Beijing's blessing for its $35 billion purchase of Xstrata.
Glencore said it had sold its interest to a consortium owned 62.5 percent by the Hong Kong- listed MMG Ltd, 22.5 percent by GUOXIN International Investment Corp Ltd and 15.0 percent by CITIC Metal Co Ltd..
*Could make it easier to find buyer for Nickel West division in Australia. SYDNEY, April 11- Breakthroughs in the way BHP Billiton processes nickel ores could help the world's biggest miner find a buyer for its ailing Nickel West division in Australia.
DAKAR/ LONDON, April 10- Africa's dependency on fuel imports is likely to grow as its refining projects struggle to get off the ground, a Vitol director told a Reuters Africa Summit.