OPEC+ decisions not politicised, Saudi energy minister insists February 20, 2023 Decisions by OPEC+ are not politicised, argued Saudi Arabian energy minister Prince Abdulaziz bin Salman.
Week ahead: UK January borrowing bill to hit £5bn to pay for cost of living support, experts predict February 19, 2023 Britain is expected to have borrowed around £5bn last month, largely to pay for household energy support, new figures out from the Office for National Statistics (ONS) this week are poised to show. The difference between what the government spends and takes in tax revenue – the deficit – is likely to have been kept [...]
Oil prices to stay high this year on China reopening and OPEC output snags, experts predict February 19, 2023 Oil prices will be propped up this year by rebounding demand from China alongside tightening supplies into Europe and OPEC's capacity issues.
FTSE 100 close: Record-breaking week ends with a whimper February 17, 2023 Although it broke records this week the FTSE100, slipped back from the highs, weighed down by underperformance in the banking sector, which has acted as a bit of a deadweight. The blue chip index was at 7,994.94 down17.59 points or 0.22 per cent. The FTSE 250 was down 20,073.69, off 107.76 points. There was also some weakness [...]
FTSE 100 close: London index pulls further away from record 8,000 point threshold as British Gas owner surges February 16, 2023 London’s FTSE 100 scaled further above the 8,000 point mark today driven by investors piling into British Gas owner Centrica after it posted record profits of more than £3bn last year. The capital’s premier index jumped 0.18 per cent to 8,012.53 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
OPEC raises oil demand forecast as markets tighten and China reopens February 14, 2023 OPEC has hiked its forecast for global oil demand this year, its first upward revision for months, in its latest market report.
FTSE 100 close: London index nears 8,000 point mark for first time despite UK economy toying with recession February 14, 2023 London’s FTSE 100 nearly hit the 8,000 point mark for the first time ever yesterday despite the UK economy toying with a recession. The capital’s premier index climbed for most of the day, before running of steam during the afternoon trading session, dragged down by a hotter than expected US inflation report showing prices rose [...]
FTSE 100 close: London index bumps higher ahead of key inflation and wage numbers February 13, 2023 London’s FTSE 100 kicked off the week in busy fashion today ahead of a busy week of data that will provide more clues on the health of the UK economy. The capital’s premier index closed 0.83 per cent higher today at 7,947.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
FTSE close: Index closes the week on a muted note, as traders eye 8,000 barrier February 10, 2023 London’s blue chip index closed at 7,882.45, down 28.70 points, or 0.36 per cent as investors paused for breath at the end of a trading week which saw the FTSE 100 hit an all-time high. Optimism over the British economy, which narrowly avoided recession, appeared to be tempered with a warning from Jeremy Hunt, Chancellor [...]