Saudi Arabia pushing Opec for deeper oil production cuts ahead of Aramco IPO December 2, 2019 Saudi Arabia is seeking to push Opec into deepening oil cuts until at least June 2020 as it prepares for December’s listing of Saudi Aramco. Sources told Reuters that Opec and its allies, including Russia, were currently discussing a deal to add 400,000 barrels per day to existing production cuts of 1.2m barrels per day. [...]
FTSE 100 climbs higher as China manufacturing PMI offsets US-China trade war doubts December 2, 2019 Strong Chinese manufacturing PMI pushed the FTSE 100 higher today despite a lack of progress between the US and China on a trade deal. London’s blue-chip index rose to 7,395.5 points in early trading, up 0.67 per cent. Read more: Asian stocks climb as Chinese manufacturing PMI improves France’s Cac climbed 0.65 per cent to [...]
Asian stocks climb as Chinese manufacturing PMI beats expectations December 2, 2019 Major Asian markets showed gains on December’s first trading day after a welcome surprise from Chinese factory data. The Nikkei 225 rose one per cent on Monday, its highest increase in a month, as data showed that Chinese manufacturing and domestic demand grew, suggesting Beijing’s stimulus measures are beginning to have an effect. Read more: [...]
Who’s buying UK shares and what does it tell us? November 29, 2019 | City Talk High demand for UK-quoted companies from large and experienced buyers suggests other investors may be overlooking an opportunity. Will a UK general election on 12 December help break the Brexit stalemate? Possibly, possibly not. The ongoing uncertainty means investors of almost every stripe remain cautious about buying UK equities (shares). I stress ‘almost’ because some [...]
FTSE 100 opens lower as trade war worries weigh November 29, 2019 The FTSE 100 opened lower this morning as escalating trade tensions between the US and China took their toll. London’s blue-chip index was down 0.5 per cent in early trading, as stuttering trade talks were compounded by a lack of economic data or earnings. Read more: EU and UK feel the pain as global pain [...]
Npower announces major restructuring which could cost 4,500 jobs November 29, 2019 Struggling energy firm Npower today announced a restructuring of its UK business that could cost thousands of jobs. Unions sources said the shake-up could lead to 4,500 UK job losses and the closure of a number of call centres, the Mirror reported. Yesterday, Npower reported that it had lost 261,000 customers in the third quarter, [...]
UBS wealth arm pessimistic about UK earnings in 2020 November 28, 2019 UBS Global Wealth Management (GWM) has said it expects earnings growth for UK equities to flatline in 2020, regardless of which party wins the upcoming General Election. Analysts at the Swiss banking giant’s wealth arm said that if the Tory party wins and pushes through a Brexit deal, the benefits will be limited by fresh [...]
Jadestone doubles quarterly revenue as production amps up November 28, 2019 Independent oil and gas explorere Jadestone doubled their revenue for the third quarter year on year as production rose at its Montara well in Australia. Read more: Jadestone Energy shares soar on the back of New Zealand purchase The figures Revenue for the quarter was $62.5m, nearly double the same period in 2018, when it [...]
Saudi Aramco IPO on track as retail tranche oversubscribed November 28, 2019 Retail orders for Saudi Aramco’s upcoming initial public offering (IPO) have reached 38.1bn Saudi riyals (£7.9bn), surpassing expectations for this section of the float. Aramco had set aside one third – roughly a billion – of the shares in its 1.5 per cent offering for retails investors, but lead manager Samba Capital announced today that [...]
Npower loses over 260,000 customers in the third quarter of 2019 November 28, 2019 Big Six energy supplier Npower lost 261,000 customers in the third quarter of 2019, as large providers continue to haemorrhage clients to smaller challenger brands. The figures take total customer losses for the year for the company, which is owned by German power giant Innogy, to 447,000. Read more: 5m customers switch energy supplier in [...]
