COMPANY NEWS IN BRIEF

Mining stocks fuel FTSE 100

Britain's top share index steadied below a record high on Thursday as mining stocks rallied, though strength in the pound capped gains.

The UK's mining index traded at its highest level since mid-2014 as shares in Anglo American, Antofagasta, Glencore and BHP Billiton all rose between 0.8% to 1.1 percent, thanks to the underlying copper price hitting a fresh four-year high.

Miners also dominated the action among British mid cap stocks, which were flat in percentage terms.

"It's no real surprise to anyone that we're pushing all-time highs as we get deep into Brexit talks towards the end of the year," Henry Croft, research analyst at Accendo Markets, said.

NAMPA/REUTERS

Apple, Amazon look to Saudi Arabia

Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, two sources told Reuters, part of Crown Prince Mohammed bin Salman's push to give the conservative kingdom a high-tech look.

A third source confirmed that Apple was in talks with SAGIA, Saudi Arabia's foreign investment authority.

Both companies already sell products in Saudi Arabia via third parties but they and other global tech giants have yet to establish a direct presence.

NAMPA/REUTERS

Carmaker PSA eyes collective bargaining over future job cuts

French carmaker PSA is considering adopting a collective bargaining process with its workforce over future job cuts, said a trade union official on Thursday, with some unions warning the move could make it easier for PSA to shed staff.

Officials at PSA could not be immediately reached to comment on the matter, first reported by newspaper Le Parisien.

CFTC trade union representative Franck Don said the collective bargaining option would be on the agenda at a January 9, 2018 works council meeting, while CGT trade union official Jean-Pierre Mercier said such a move could make it easier for PSA to sack workers.

NAMPA/REUTERS

LME copper gives back a little but holds at 4-yr peak

London copper eased slightly in early Asian trading on Thursday, but largely held sharp overnight gains that drove the contract to a four-year high on signs of strong demand from China next year.

Commodities traders said some profit taking emerged at the higher end of copper's price rise, but was held in check somewhat by a weaker US dollar.

Non-US holders of US-dollar-denominated commodities, such as London Metal Exchange contracts, typically sell into a stronger dollar.

NAMPA/REUTERS

SpaceX to launch rocket today

When SpaceX launches a batch of satellites into low-earth orbit Friday evening from California’s central coast, it will cap a record year for the closely held company led by Elon Musk.

If the launch goes well, Space Exploration Technologies will have completed 18 missions in 2017. That’s more than any competitor this year and far exceeds the eight it launched in 2016 before a September explosion grounded the company for the rest of the year while an investigation took place.

“SpaceX has had a phenomenal year, and they’ve motivated and inspired a lot of people as to what is possible,” said Eric Stallmer, president of the Commercial Spaceflight Federation, an industry group for the private space sector.

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