Investors looking to profit from a surge in Asian coal sales this year may be better off with Chinese producers like China Shenhua Energy and Yanzhou Coal Mining than with their Australian competitors.
While the two nations account for 80 percent of the listed coal companies in the region, Chinese companies have the benefit of the [...]
Shares of China Coal Energy Co. rose about 13 percent in their Hong Kong debut on Tuesday, underperforming some recent IPOs as investors cooled towards the resources sector.
Shares of state-backed China Coal, the industry No. 2, traded at HK$4.56, compared with an IPO price of HK$4.05 after it raised US$1.69 billion from a deal priced [...]
Shares of China Coal Energy Co. rose nearly 13 percent on their Hong Kong debut on Tuesday, underperforming some recent IPOs as investors cooled towards the resources sector and the broader market fell.
Shares of state-backed China Coal, the industry No. 2, closed at HK$4.56, compared with an IPO price of HK$4.05, after it raised US$1.69 [...]
Linn Energy, LLC announced that it has signed definitive purchase agreements to acquire oil and gas properties in three separate transactions for an aggregate purchase price of $454 million. The first transaction involves the acquisition of a private oil and gas company with operations in the Texas Panhandle (the “Texas acquisition”) for $415 million. The [...]
China’s second-biggest coal group by revenue, China Coal Energy Co., is set to raise up to US$1.7 billion (HK$13.3 billion) in a Hong Kong IPO after setting an indicative price range of HK$3.20 to HK$4.05 a share, a person familiar with the deal said on Wednesday.
China Coal, which kicked off its formal IPO marketing [...]
Miners were in the spotlight today, as platinum prices climbed 11% in early trading to a record high, before later giving back some of their gains.
Dealers said the platinum market was small compared with gold and silver, and was very illiquid, leading to volatile price movements.
Part of the rise today was due to increasing demand [...]
Oil prices rose Wednesday, as traders assessed declines in U.S. supplies of gasoline and diesel fuel.
Other factors prompting traders to buy were the possibility of further
OPEC production cuts; the specter of cold winter weather; and the feeling that the newly empowered Democrats won’t be shaking up the oil industry anytime soon.
“There’s some relief over the [...]
STRUGGLING Victorian gold revivalist Bendigo Mining completed a $50 million capital raising at one-third the price its shares were trading at six months ago.
Goldman Sachs JBWere and Macquarie Equity Capital Markets tried to place shares with institutions between 88¢ to 96¢, but the goldminer was forced to settle for a 12-month low price of 80¢ [...]
Shares of two coal property managers tumbled on Monday after an Citigroup analyst downgraded the stocks over concerns that they might eventually feel pressure from issues negatively impacting the broader industry.
Shares of Houston-based Natural Resources Partners LP fell $2, or 3.7 percent, to $52.35 in afternoon trading on the New York Stock Exchange.
Shares of Alliance [...]
European energy stocks, the worst- performing shares in the past three months, gained after crude prices rebounded. BP Plc and Royal Dutch Shell Plc, the region’s largest oil companies, paced the advance.
“We are still positive on oil stocks despite the recent correction in the oil price,” said Sergi Martin, who helps oversees $5.3 billion at [...]
