Standard Life Aberdeen profit slips as investors withdraw funds March 10, 2020 Standard Life Aberdeen’s underlying profit dropped 10 per cent in 2019 as investors continued to withdraw their cash from its funds, hurting revenue. The figures Fee-based revenue fell 13 per cent to £1.63bn after net outflows in 2018 and 2019. And adjusted profit before tax dropped 10 per cent year on year to £584m as [...]
Diversified Gas and Oil rides out market volatility March 9, 2020 Diversified Gas and Oil posted strong results todayto defy difficulties on the world commodity market. The Alabama-based company reported an adjusted EBITDA of $273.3m (£209.8m) for 2019. Final recommended dividend was 3.50 cents per share, an increase of 24 per cent over the same period in 2018. Total revenue almost doubled to $511.7m, up 87 [...]
Coronavirus: FTSE 100 loses £144bn after worst day since 2008 March 9, 2020 The FTSE 100 has had £144bn wiped off its value today as it closed below 6,000 points and suffered its biggest intraday fall since 2008. The coronavirus outbreak and plunging oil prices dragged the index down as much as 8.7 per cent to just 5,899 points as it opened following a weekend of coronavirus turmoil. [...]
Billions wiped off FTSE oil giants BP and Shell after global oil prices sink March 9, 2020 Oil major BP has lost nearly £20bn of its value today as investors ditch energy stock following the oil price rout. Rival Royal Dutch Shell has seen its market capitalisation shrink £18.1bn since the close of trading in London on Friday. Both oil majors have dragged the FTSE 100 to one-day losses not seen since [...]
Oil prices reaction: All the fallout as OPEC sends prices spiralling March 9, 2020 Oil prices fell to a four-year low today after Russia and Saudi Arabia began a price war that triggered major stock market sell-offs. The two oil-producing titans were in talks over a further production cut to protect oil prices against the coronavirus outbreak. But Russia blanched at the prospect of slashing another 1.5m barrels per [...]
US stocks sell-off triggers trading pause amid coronavirus panic March 9, 2020 US stock markets plunged after Wall Street opened as the spread of coronavirus around the world and the steepest drop in oil prices since the 1990s panicked investors. The dramatic falls of more than seven per cent were so big they triggered an automatic cutout system put in place after the financial crisis, pausing trading [...]
NY Fed increases short-term funding as US stocks brace for open March 9, 2020 The Federal Reserve Bank of New York has ramped up the amount of money it provides in very short-term loans to the financial system in a bid to keep Wall Street steady amid a coronavirus-driven market rout. The NY Fed today said daily overnight repurchase agreement (repo) operations will increase to $150bn (£115bn) from $100bn. [...]
Oil prices: FTSE energy stocks tumble after Opec coronavirus chaos March 9, 2020 FTSE 100-listed energy stocks have crumbled in early trading after Saudi Arabia initiated a price war that saw oil prices collapse today. Shell’s share price plummeted 21 per cent before trimming losses to stand down 14.8 per cent by 9.50am, while BP’s tumbled 17.3 per cent to 326.9p. Petrofac fell over 50 per cent to [...]
Oil prices and Asian stocks collapse under coronavirus fears March 9, 2020 Oil prices and stocks collapsed today as investors piled into safe havens in a bid to escape the fallout of a fresh spread of coronavirus. Oil prices plunged around 30 per cent after Saudi Arabia signalled its intention to ramp up production. And investors knocked 30-year US bond yields below one per cent as they [...]
Saudi Arabia to up oil production after Opec deal falls through March 8, 2020 The Middle East’s stock markets tumbled on Sunday after the three year alliance between oil cartel Opec and Russia collapsed last week. As a result of the botched negotiations over further production cuts, Opec removed all existing output curbs for its members, leading to a string of local equity markets falling over fears of a [...]