Rare earth miner Pensana inks deal with Chinese firm for Angola project July 20, 2020 Rare earth metals firm Pensana has today announced that it is exploring a partnership with China Great Wall Industry Corporation (CGWIC) to develop its flagship mine in Angola. The project, at Longonjo in the southern African country, is the first new rare earth mine in over a decade. The mine, which is slated to start [...]
Johanna Kyrklund: Are markets paying enough attention? July 20, 2020 | City Talk Like home-schooled children during the Covid crisis, markets seem to be struggling to pay attention for long. For parents, one of the most difficult parts of lockdown has been home-schooling their children. My social media feed has been full of people tearing their hair out as long-forgotten concepts such as subordinate clauses or trigonometry have [...]
FTSE 100 falls as rising coronavirus cases dent optimism July 20, 2020 The FTSE 100 slipped in morning trading as investors weighed rising coronavirus cases in the US and Hong Kong against hopes that a vaccine may soon be found. London’s main stock index dropped 0.7 per cent to 6,246 points. The FTSE 250 index of slightly smaller companies fell 0.2 per cent. Germany’s Dax rose 0.4 [...]
FTSE 100 inches up as EU begins €750bn fund discussion July 17, 2020 The FTSE 100 eked out a minor rise today, staying just about in the green to post a 0.11 per cent gain by 10.45am. European stocks were mixed as traders witnessed a nervy start to a crucial meeting of the EU to agree on a €750bn package, and whether it should be mainly given out [...]
Centrica staff may have to sign new contracts or risk more redundancies July 16, 2020 Workers at British Gas owner Centrica have been told they may have to accept new employment conditions or risk having their jobs cut. It was reported that the services firm has told employees to sign new contracts or risk a second wave of redundancies. Last month Centrica announced that it would slash 5,000 jobs in [...]
Anglo American sticks to guidance as output falls a fifth July 16, 2020 Mining giant Anglo American announced that total production in the second quarter had fallen 18 per cent as a result of the coronavirus pandemic. Despite the drop, the firm said that it would maintain its full year guidance for all of its commodities except for coal. In a statement, the FTSE 100 firm said that [...]
SSE sticks to low-carbon plan despite £250m coronavirus hit July 16, 2020 Energy firm SSE today said that it expected to take a £150m to £250m profit hit from the coronavirus crisis, which has sent power demand tumbling. Despite the hit, the FTSE 100 firm said it was continuing with its £7.5bn programme of investments in low-carbon energy sources. It added that it would continue to pay [...]
Markets live: FTSE 100 and US stocks soar as vaccine optimism builds July 15, 2020 The FTSE 100 doubled its gains on Wednesday as investor optimism about a coronavirus vaccine grew stronger, also fuelling US and European stocks. London’s blue-chip index climbed as high as 6,241 as it opened trading this morning, following positive trial results of a Moderna vaccine. By 1.30pm the FTSE 100 was up 2.07 per cent [...]
Opec set to ease production cuts as lockdowns lift July 15, 2020 Oil cartel Opec is set to ease production cuts less than previously expected, it emerged today, in a bid to continue supporting the slowly recovering global economy. Since May, the wider alliance of Opec members and key players such as Russia have been cutting oil output by 9.7m barrels per day, nearly a tenth of [...]
Premier Oil shares slide as explorer hits reduced production guidance July 15, 2020 Shares in midcap Premier Oil slipped this morning as the company announced that it had hit its reduced production guidance of 65,000 to 70,000 barrels of oil per day. Earlier this year, the exploratory firm reduced its output guidance from 70,000 to 75,000 barrels a day after difficulties at one of its flagship fields. However, [...]
