Pure Planet and Colorado Energy fall victim to gas price surge as CNG looks for bids October 13, 2021 The UK’s energy crisis has claimed two more challenger companies as Pure Planet and Colorado Energy ceased trading tonight. 250,000 Brits are now ‘orphaned’ – without a provider – while the energy regulator designates stranded customers. The historic surge in wholesale gas costs this year has driven up bills for providers and households to the [...]
Further oil price gains boosts FTSE 100 October 11, 2021 Further gains in oil prices boosted industrial stocks this morning, lifting the FTSE 100 into positive territory. The capital’s premier index was up 0.12 per cent to 7,104.27 points during the first couple of hours of trading. Industrials led the FTSE higher this morning, with oil megacaps BP and Royal Dutch Shell both climbing more [...]
Fuel crisis: City traders circle BP and Shell as they take positions for more price hikes October 4, 2021 Investors are not banking on a swift resolution to the UK fuel crisis against a backdrop of continuing queues on forecourts and the Army being put on standby to help with deliveries, according to data shared with City A.M. this morning. Analysis of investor movements with regards to BP, Royal Shell and Glencore shows that [...]
FTSE 100 extends rally as investors eye MPC meeting September 23, 2021 London’s FTSE 100 continued its rally today as investors mull whether the Bank of England will follow the US Federal Reserve’s example and signal bond buying will taper this year. The capital’s premier index added 0.50 per cent to reach 7,119.04 points during the first hour of trading. The blue-chip index has recovered from heavy [...]
Weak US jobs growth tempers Wall Street September 3, 2021 A weaker-than-expected US jobs report for August weighed heavily on Wall Street’s main benchmarks today. The S&P 500 slipped 0.09 per cent to 4,532.82 points, after closing at a record high yesterday. The Dow Jones lost 0.11 per cent to hit 4,531.09 points. The tech-heavy Nasdaq provided some relief on Wall Street, rising 0.12 per [...]
US stocks open higher to cancel out last week’s rout August 23, 2021 US stocks rose sharply today to help claw back sharp losses registered in last week’s deeply volatile trading environment. The blue-chip S&P 500 jumped 0.95 per cent to 4,483.95 points, while the Dow Jones climbed 0.72 per cent to 35,372.11 points. The tech-heavy Nasdaq was on track for another record high, surging 1.59 per cent [...]
Extinction Rebellion: City of London to be next climate campaign target August 19, 2021 Environmental activists have said they will begin a fresh campaign next week in the heart of the capital’s financial district. The fortnight-long campaign targets the City of London, which Extinction Rebellion activists blame for stoking climate change with fossil fuel investment chains. Extinction Rebellion (XR) has regularly staged demonstrations across the UK – targeting banks [...]
Glencore invests in Britishvolt’s electric battery gigafactory plans August 17, 2021 Mining giant Glencore is investing in the battery start-up Britishvolt and its construction of a gigafactory to support the UK’s car industry transition to electrical vehicles. As part of the partnership, Glencore will also supply cobalt, one of the key raw materials used in electric batteries, the Financial Times reported. As the biggest producer of [...]
FTSE: Ultra and Future soar but it’s not enough to lift London’s main index August 16, 2021 The FTSE 100 started off the week with a fall, as a rout on energy and mining shares could not be undone by a surge in the shares of Ultra Electronics and publishing house Future. The blue-chip FTSE 100 dropped 0.8 per cent, dragged down by miners Glencore, Anglo American and Rio Tinto and oil majors BP and Royal Dutch [...]
Commodity price surge: Glencore shareholders spy £2bn payday August 5, 2021 Glencore’s shareholders are looking at an around £2bn payday this year after commodity price surges hoisted the mining giant to a record performance in the past six months. Revenue hit £67.4bn in the first half of the year, up by some £16.3bn in comparison with the first half of 2020. The London-listed mining and trading [...]