London shares are set to end the week on a positive note. Click here for The Trader Nicole Elliott's latest thoughts.
IC TIP UPDATES:
Amid its diplomatic push to secure a working relationship with the Mongolian government, Rio Tinto (RIO) looks as though it has another big cost on its hands. Authorities have decided that Tavan Tolgoi Power Project, which supplies power to the copper-gold mine, is no longer a viable option for Oyu Tolgoi, meaning Rio and its venture partners are committed to find a new domestic power source within four years. Separately, the commodities giant has announced the appointment of Royal Mail (RMG) chief executive Moya Greene as a non-executive director. Shares in Rio, up 10 per cent in the last week, are largely unmoved this morning. We remain buyers.