FTSE 100 utility National Grid fails to light up as reported profit before tax falls 64 per cent November 10, 2016 First half earnings at FTSE 100 utility giant National Grid have failed to spark after profits fell by almost two-thirds, though the group is on track to sell its UK gas distribution arm and is making progress with its US activities. The figures The utility's profit before tax fell 64 per cent to £485m in [...]
Brent crude and West Texas Intermediate crude oil prices lift despite another rise in US crude inventories November 10, 2016 Oil prices lifted this morning despite another build in US crude inventories. Stockpiles in the US rose by 2.4m barrels to 485m barrels last week, despite refineries hiking output and imports falling, according to data released yesterday by the US Energy Information Administration (EIA). Earlier estimates suggested the rise would be a much smaller 400,000 [...]
Britain’s coal-fired power stations likely to close by 2025 as government orders plants to halve carbon emissions or shut down November 9, 2016 Britain's eight remaining unabated coal power stations will be forced to close in 2025 unless they can halve their carbon emissions, the government said today. However, the process to install technology to dramatically cut emissions and become "abated" power stations is thought to be so costly that the last plants will not be able to accomplish [...]
Oil prices climb back from earlier losses as dust settles on Donald Trump win November 9, 2016 Oil prices have recouped earlier losses as global markets adjusted to Donald Trump's election as the 45th US president. Global benchmark Brent crude was trading up 0.04 per cent, or two cents, to $46.06 a barrel in the early afternoon UK time. Prices fluctuated around four per cent between $44.40, the lowest level since mid-August, [...]
Half-year profits fall by double digits at energy supplier SSE but return to growth expected this financial year November 9, 2016 Profits have fallen at Big Six energy supplier SSE, but the group has said it expects to be back in the black by the end of the year and plans to invest almost £2bn into its UK and Ireland operations. The figures Adjusted profit before tax fell by 13.3 per cent to £475.8m at SSE in the [...]
Precious metal firms rise to the top of the FTSE 100 following Donald Trump win November 9, 2016 Precious metal producer Fresnillo has ploughed to the top of the FTSE 100 this morning after Donald Trump won the 2016 US Presidential election. Metals stock is gaining traction as investors move away from equities towards safe haven investments such as gold. Shares in Mexico-based precious metals group Fresnillo were up 9.69 per cent shortly after markets opened, [...]
Dollar still down but reverses some earlier losses against major currencies as Hillary Clinton concedes defeat to Donald Trump November 9, 2016 The dollar began to creep back against the pound, euro and the yen following Donald Trump's conciliatory first speech after being elected the 45th President of the US. The greenback has made a comeback from earlier losses (albeit slight), trading down 0.31 per cent against sterling at mid-morning at £0.8052. Shortly after 5.30am, it was 1.1 per cent [...]
US Presidential Election 2016: Bitcoin jumps four per cent as Donald Trump wins over Hillary Clinton November 9, 2016 The bitcoin price has surged almost four per cent so far this morning, as Hillary Clinton conceded the presidency to her Republican rival Donald Trump. The price of a single bitcoin has reached $737.07, according to exchange Bitstamp. The currency steadily rose as election officials began counting votes last night. It has risen from a [...]
Spot gold prices rise but lose some earlier gains as Donald Trump wins US Presidential election November 9, 2016 Gold prices have surged two per cent this morning after Republican nominee Donald Trump won the 2016 US Presidential election, but have lost earlier gains to trade back below the $1,300 mark. Spot gold prices surged to a high of almost five per cent, reaching $1,337.38 an ounce in the early hours as the polls suggested [...]
BP and Oman Oil Company get sign-off to extend licensing area in giant Khazzan tight gas field November 8, 2016 BP and Oman Oil Company have signed an agreement with the government of Oman to extend their licensing agreement in Oman's huge Khazzan gas field, paving the way for a second phase of development at the site. The amended exploration and production sharing agreement adds more than 1,000 sq km to the south and west of the [...]
