China may be routinely underestimating its steel sector output, with official 2013 figures coming in 40 million tons below a key industry estimate.» Read More
Asian shares fell on Tuesday as investors turned cautious after the new year's rallies, with corporate earnings season for the last quarter of 2012 looming and the European Central Bank's policy meeting due later in the week.
Asian stocks drifted on Monday as investors booked profits from a New Year rally that had pushed markets to multi-month highs, but financial stocks gained after global regulators decided to relax draft plans for tough new bank liquidity rules.
Iron ore exports to China from Australia's Port Hedland, a bellwether for Chinese industrial activity, surged 25 percent in December from the previous month to a record level, shipping data showed.
European shares ended higher on Tuesday, as investors bet that U.S. Democrats and Republicans will reach a deal to avoid a "fiscal cliff" of year-end austerity measures.
Stephen Hogan, Senior Private Client Adviser, Equities/Derivatives, Novus Capital says risk assets should rally in the coming months. He says it's a good time to add some exposure to stocks like BHP Billiton and Rio Tinto.
Asian shares touched a 16-month high on Monday as investors took heart from rising factory output growth in China and a falling unemployment rate in the United States that raised hopes about the outlook for the world's top two economies.
Asian shares touched fresh 16-month highs on Friday as investors awaited U.S. nonfarm payrolls data due later in the day, with sentiment underpinned by signs that China's economy is stabilizing.
Freeport-McMoran bought Plains Exploration and McMoran Exploration -- a company in which it already owns a partial stake -- in two deals worth a combined $9 billion.
Asian shares hit a 16-month high on Wednesday, led by surging Chinese equities on hopes for stable growth, but concerns over whether U.S. lawmakers can break a budget impasse before year-end to avert a possible economic slump kept optimism in check.
Take a look at some of Thursday's morning movers.
Warren Gilman, chairman and CEO of CEF Holdings, explains to CNBC his reaction to Rio Tinto's recent jump in the stock market, saying the price of its shares will most likely come back down shortly.
Tom Albanese, CEO of Rio Tinto discusses the impact of China's recovery on commodity prices as well as the company's latest round of cost-cutting measures.
Hayden Bairstow, Head of Australian Resources Research at CLSA says that miners are upping their investments to expand capacity. This means that volume growth will help offset weak metal prices.
With signs of a pick-up in economic activity in China, Michael McCormick, Director, Belvedere Share Managers discusses whether Australian mining firms like Rio Tinto were too quick to shelve their projects.
By Maytaal Angel and Clara Ferreira-Marques. LONDON, Oct 12- Mining firms, already cutting back after years of rising costs, could do more to tighten their belts and should use the proceeds to increase payouts to yield-hungry investors, BlackRock, the world's largest fund manager said on Friday.
*Credit Suisse cuts Rio Tinto target price to 3500 p from 3800 p; rating. *Credit Suisse cuts ENRC target price to 400 p from 450 p; rating. *Credit Suisse cuts Anglo American target price to 2100 p from 2200 p;.
Oct 12-:* HSBC cuts Antofagasta to underweight from neutral* HSBC cuts Anglo to neutral from overweight. *HSBC cuts Rio Tinto target price to 3220 p from 4320 p; rating. Reuters Station users, click. 1580.
CANBERRA, Oct 12- Australian shares edged up 0.1 percent on Friday as gains in index-heavy mining stocks helped break a two-day run of losses, but the market still ended slightly down on the week. gained 0.9 percent to A $33.54 and major rival Rio Tinto Ltd rose 1.8 percent to A $56.40, helped by a rebound in iron ore prices.
CANBERRA, Oct 12- Australian shares edged up 0.1 percent on Friday as gains in index-heavy mining stocks helped break a two-day run of losses, but the market still ended slightly down on the week. Global miner BHP Billiton Ltd. gained 0.9 percent to A $33.54 and major rival Rio Tinto Ltd rose 1.8 percent to A $56.40, helped by a rebound in iron ore prices.
*Barclays raises African Barrick Gold Plc price target to 440 P from. *Barclays cuts Anglo American PLC price target to 1970 P from 2300 P;. rating underweight* Barclays cuts Bumi PLC price target to 337 P from 430 P; rating overweight.