China, miners and equity release

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Monday 4 January 2016

London indices tumbled in the first session of the new year after trading in China was halted when the circuit breaker kicked in when shares fell by 7%.

“It’s been a turbulent start to the new year with China shares rocked by weak manufacturing data and heightened tensions in the Middle East,” says AJ Bell Investment Director Russ Mould.

“The headline index ended 2015 lower than it had begun and it was down by around 2% in early trading although Randgold Resources (LSE:RRSwas buoyed by firmer gold prices.

“Heavyweight miners were among the biggest fallers with Anglo American (LSE:AALpropping up the blue-chip table with Glencore (LSE:GLEN), BHP Billiton (LSE:BLTand Rio Tinto (LSE:RIOin close proximity.

“Private landlord Grainger (LSE:GRIwooed investors by the sale of its equity release division to Turbo Group Holdings. This is another significant milestone in re-focusing and simplifying Grainger's business, strengthening the balance sheet and reducing financing costs.”

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