By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Petra Diamonds share price loses its shine as demand wanes

October 28, 2015

Shares in Petra Diamonds lost their shine today, after the company indicated diamond demand was falling. The mid-cap stock slumped as much as 16 per cent to 67.55p per share after it said diamond prices had fallen 8.8 per cent in dollar terms compared to the previous quarter. Production rose one per cent to 842,796 carats in the three [...]
Iron ore price falls back below $50 mark for the first time in three months

October 28, 2015

Iron ore fell below the $50 mark for the first time since July, as concerns over oversupply from China deepened, against a backdrop of falling global demand. Ore with 62 per cent content for immediate delivery to China slumped three per cent to $49.95 this morning, according to Metal Bulletin. Iron ore, a steelmaking raw material, [...]
Antofagasta cuts copper production forecast for the third time this year

October 28, 2015

Shares in Antofagasta fell three per cent to 528p per share this morning after the mining firm cut its copper production forecast for a third time this year. The FTSE 100 company cut its full-year copper output guidance to 635,000 tonnes from 665,000, due to delays at its Centinela Concentrates mine in Chile’s Antofagasta Region, 1,350 km north of Santiago. It [...]
UK steel trader Stemcor saves 2,000 jobs after debt deal

October 28, 2015

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Meggitt share price tumbles as it warns on full-year profits and considers 300 job cuts amid slow sales

October 28, 2015

Shares in Meggitt tumbled as much as 22.9 per cent this morning after the engineering company warned on its full-year profits amid challenging market conditions, which could lead to 300 jobs cuts. The FTSE 100-listed firm said challenging trading conditions would lead to full-year underlying operating profit coming in "meaningfully below" its current estimate of £369m. In response, Meggitt could axe 300 jobs globally [...]
US crude prices are getting hammered as concerns over a supply glut deepen

October 27, 2015

Oil prices fell yesterday as concerns over a supply glut deepened amid US inventory data. US commercial crude stockpiles are expected to have risen for a fifth straight week, by an average of 3m barrels to 479.6m in the week ended 23 October, a Reuters survey showed. This fed into concerns that a supply glut [...]
Chemring share price falls 30 per cent after it warns on full-year profit due to a contract delay

October 27, 2015

Shares in defence group Chemring slumped as much as 40 per cent to a 10-year low at 134.3p per share this morning, after the aerospace and defence technology company warned on its full-year profit. In an unscheduled trading update, Chemring said a delay to a 40mm ammunition contract worth £100m from the Middle East meant there was a "realistic chance" underlying [...]
Pound falls as UK GDP growth slows to 0.5 per cent in the third quarter, held down by construction

October 27, 2015

Sterling dipped 0.05 per cent to €1.3875 this morning, after official figures showed the UK's economic growth slowed in the third quarter of this year, held back by falls in manufacturing and construction output. The Office for National Statistics (ONS) said the economy grew 0.5 per cent between July and September, missing economists' expectations for 0.6 per cent growth, and down from 0.7 [...]
African art collection of collapsed oil producer Afren goes on sale at Bonhams

October 27, 2015

Afren, the former stock market darling which collapsed into administration earlier this year, is selling its art collection at Bonhams' auction house in London. The collection of 97 works, amassed by Afren over the years, includes pieces from primarily Nigerian artists, with estimated values of up to £8,000. "The story relating to the demise of Afren has ensured that this dispersal has [...]
Hyde in Greater Manchester to get Europe’s biggest floating solar farm on the town’s Godley reservoir thanks to United Utilities

October 26, 2015

Water company United Utilities is installing Europe's largest floating solar power system on a reservoir in Greater Manchester, as the company tries to reduce energy costs. The 12,000 panel, £3.5m project will be the UK's largest solar power site, dwarfing an 800-panel structure in Berkshire. It's also the second biggest floating solar farm in the world after a [...]

Prem Rugby signs free-to-air broadcast deal with ITV

Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals

Cirque du Soleil OVO, Royal Albert Hall review: Amazing tricks, okay clowns

By: Jessica Morris

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