U.K. equities closed higher on Friday, with the majority of European markets and many international markets closed for the Labor Day holiday.» Read More
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.
CANBERRA, Oct 12- Australian shares gained more than 0.2 percent on Friday morning, recovering from two sessions of losses, as a rebound in metal prices lifted index-heavy mining stocks. Global miner BHP Billiton Ltd gained 0.8 percent to A $33.50 and major rival Rio Tinto Ltd rose more than 1.6 percent to A $56.31.
CANBERRA, Oct 12- Australian shares inched up 0.1 percent early on Friday as a rebound in metal prices lifted index-heavy mining stocks. Global miner BHP Billiton Ltd gained 0.5 percent and major rival Rio Tinto Ltd rose more than 1 percent. New Zealand's benchmark NZX 50 index.
*Canaccord Genuity cuts Antofagasta and Kazakhmys to hold. *Canaccord Genuity cuts Central Asia Metals target price to 215 P from. *Canaccord Genuity cuts Orsu Metals target price to 13 P from 14 P;.
*Alison kutler joins Visa as head of government policy for the americas. *Says previously kutler was vice president, external affairs at rio tinto,. *Source text* Further company coverage ().
*Rio Tinto unit selling one of two French plants. *Says sale triggered by expiry of power supply deal. PARIS, Oct 10- Rio Tinto is pushing ahead with plans to sell a century-old aluminium plant in the Alps of southeast France as the global mining group continues its retreat from a struggling aluminium sector.
NEW DELHI, Oct 10- Tata Steel's Europe unit will receive the first iron ore shipment from its Benga project in Mozambique by end-October, a top official said, a first step towards addressing the cost volatility affecting its European operations.
--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Oct 10- The job losses and cost-cutting at Australia's major iron ore producers show they are taking to heart the adage to never let a good crisis go to waste.