Rio Tinto changes dividend policy, Glencore streaming deal

London open

The FTSE 100 is predicted to fall by around 50 points on Thursday, giving up more than the previous day's gains.

Stocks to watch

Rio Tinto was insistent it was weathering the commodities storm in its full-year results, but the numbers were telling a different story - with net earnings falling almost £5bn and into loss territory. In calendar 2015, the FTSE 100 company reported consolidated sales revenues down by more than a quarter to $34.8bn (£23.9bn) and a net loss of $866m after $3.3bn of exchange rate and derivative losses plus $1.8bn of impairment charge.

Glencore has agreed a $500m gold and silver streaming deal from its Antapaccay mine in Peru to help ease its balance sheet woe. As part of its debt reduction plans the FTSE 100 group expects to receive the $500m advance payment via its wholly owned Narila subsidiary before the end of the month in return for delivering 630,000 oz of gold, 10m oz of silver, plus ongoing payments from then on at a percentage of spot price.

Imperial Brands has posted a 10% jump in tobacco revenue to £1.63bn for the first quarter, and said it is on track to meet full year expectations. In a trading update for the three months to 31 December, the company freshly renamed from Imperial Tobacco, revealed net tobacco revenue had risen despite total tobacco volumes having dropped 3% due to the company deprioritising low quality volume in certain markets.

Newspaper round-up

Other EU leaders are ready to copy David Cameron’s referendum tactics for their own “egotistic goals”, the European Council president has said, as he sounded the alarm over populist politics bringing the bloc to the brink of “suicide”. Donald Tusk’s forthright warning on Wednesday came as he announced he was clearing his diary next week to concentrate on the “very fragile” talks on a “new settlement” for Britain, which will be discussed at an EU summit next week. – Financial Times

Johnston Press is in advanced talks with the Lebedev family to buy the i newspaper in a deal that will raise questions over the future of its stable mate, The Independent. It is understood both sides are brokering the sale of the tabloid, with talks expected to run into the night. Sources confirmed the i, which was launched in October 2010 at a cover price of 20p, is the only subject under discussion between the two parties. – Telegraph

David Cameron has hailed Britain's technology sector as "extraordinary", after a report revealed companies are generating £161bn for the economy. According to the Tech Nation report, now in its second year, the digital economy grew 32% faster than the rest of the economy between 2011 and 2014, and is creating new jobs at an unprecedented rate. – Telegraph

US close

US equities blew hot then cold as traders and investors mulled mixed corporate results, plunging oil prices and remarks from Fed chair Janet Yellen.

Dragged down by Disney and IBM, Dow Jones tailed off sharply to lose 0.62% by the close at 15,914.74, while the S&P merely lost the gains it made on the day to finish almost flat at 1,851.86.

The Nasdaq initially rose strongly and managed to hold onto some of those gains, with a day's gain of 0.35% for the composite index to 4,283.59 by the bell, with the Nasdaq 100 up 0.47%.