FTSE 100 and European stocks leap on trade deal optimism November 4, 2019 European markets including the FTSE 100 opened higher this morning, as traders began the week with growing optimism over the current US-China trade war. London’s blue-chip index rose 1.1 per cent to 7,384 points in morning trading, while the Dax and the Cac also made similar gains. Read more: Volatile markets boost TP Icap revenues [...]
European markets open flat as cautious traders await Brexit showdown October 22, 2019 European markets opened flat this morning, as traders remained cautious ahead of a crucial three days for Prime Minister Boris Johnson’s Brexit deal. The FTSE 100 is trading down at 0.2 per cent, with Anglo American and Glencore taking the biggest gains while Reckitt Benckiser leads the fallers after posting mixed results. The Dax and [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Oil prices tumble on higher Opec output and slower Korean growth September 3, 2019 Oil prices tumbled today as more symptoms emerged showing the impact of US President Donald Trump’s trade war with China. Brent crude dropped as much as two per cent in the mid afternoon, and was selling for $57.45 per barrel at the time of writing. Read more: New York Times drops sponsorship of London oil [...]
BP sells Alaskan fields and pipeline to Hilcorp for $5.6bn August 27, 2019 BP sold all its assets in Alaska to Hilcorp for $5.6bn (£4.5bn) today as the oil giant looks to divest $10bn in assets and re-focus on its core business. The deal includes all of BP’s upstream and midstream business in the US state, and its stake in a major pipeline, the company said. Read more: [...]
Nostrum share price takes hit from analyst note August 21, 2019 Nostrum Oil and Gas struggled on the markets today after taking a hit from an analyst downgrade. Shares took a battering, falling by 19 per cent to 28.35p. It came as analysts at Berenberg downgraded the shares from “buy” to “sell”, setting a new target price of 25p from 200p. Read more: BP and Glencore [...]
BP and Glencore struggling to offload contaminated Russian oil August 21, 2019 BP and Glencore are still trying to offload huge reserves of tainted Russian crude oil several months after problems were discovered. The UK-listed giants have around 600,000 tonnes of the oil which they are struggling to sell off, several traders told Reuters. Read more: Opec agrees to extend oil supply cuts by nine months A [...]
Heavy metal: FTSE 100 miner Glencore earnings crash as copper prices sink August 7, 2019 Glencore earnings dived 32 per cent to $5.6bn in the first half of 2019, the miner confirmed this morning, as it blamed poor performance in its African mines and lower prices for copper and cobalt. The figures Glencore’s earnings before interest, tax, depreciation and amortisation (Ebitda) slumped 32 per cent year on year to $5.6bn. [...]
Glencore to halt production at world’s biggest cobalt mine after price halves August 6, 2019 Glencore is planning to stop production at the world’s largest cobalt mine after prices for the metal plummeted. The miner has told staff that Congo’s Mutanda mine is “no longer economically viable” in a letter seen by the Financial Times. Read more: Congo starts evicting up to 2,000 illegal miners from Glencore site where dozens [...]
Tory party CEO Mick Davis resigns as lobbyist David Frost becomes Johnson’s EU adviser July 24, 2019 The Tories’ chief executive and treasurer Mick Davis has resigned from his party roles, citing the need for a new team under Boris Johnson. Davis’s decision to quit came as the chief executive of the London Chamber of Commerce, David Frost, resigned from his post to take up the role as EU adviser to the [...]