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FTSE 100 closes higher with gains across all major sectors
The UK index of leading shares finished over 107 points ahead at 6,941, while the FTSE 250 also closed strongly
Company
LON:RIO
Rio Tinto Ltd is a leading international mining group that finds, mines and processes the earth's mineral resources. The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore. Its activities span the world but are strongly represented in Australia and North America. There are also significant businesses in South America, Asia, Europe and southern Africa.
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The UK index of leading shares finished over 107 points ahead at 6,941, while the FTSE 250 also closed strongly
Iron ore production was supported by investments in productivity improvements, minimal weather disruptions and the ramp-up of expanded mine sites
Investments and investor services
FTSE 100 closed out higher, advancing over 133 points to close at 6,968 on the day
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From the slew of retailer updates so far, December looks to have been mixed, although a lot have complained about increased promotional activity during the month
Ramp-up to full underground production is on schedule and concentrate is being trucked to the Wyndham port.
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Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
The company is awaiting assay data which is expected in January 2019.
Deutsche Bank expects BHP Billiton's earnings and cash flows to weaken in 2019
Investments and investor services
Sustained demand growth and forecast supply cuts have not yet translated into higher copper prices as the Chinese economy slows.
Fundamentals underlying the global fertiliser business remain robust
The company hopes to start construction at the $1.7 billion Fort Cady Boron Project in the December 2019 quarter.
"Investors aren’t willing to forgive Fed Chair Jeremy Powell yet; a soft open on Wall Street threatens to drag the FTSE lower into the close," said Fiona Cincotta at City Index
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At the close, the FTSE 100 was down 71.93 points, or 1.1% at 6,773.24, just above the session low of 6,761.37 and well below the early high of 6,845.17.
Savannah Resources sees potential to increase the current mineral resource estimate of the Mina do Barroso project
Most gold is found in such small traces that assays have to be sent to a lab for the presence of any of the precious metal to be confirmed, so to see it in the cores is always a good sign
The project is in the same region in which Rio Tinto has pegged large areas of exploration ground.
The company is successfully advancing its exciting Pastos Grandes project towards production