Enquest hits expectations as production grows by half February 5, 2019 Oil producer Enquest is focusing on paying down its debt as production looks set to soar this year. Shares rose 2.95 per cent to 19.56p in the mid-afternoon as the company showed a 48 per cent rise in output to 55,400 barrels of oil equivalent per day in 2018. Read more: EnQuest agreed to buy [...]
What is the outlook for interest rates in 2019? February 5, 2019 | City Talk US Concern over the outlook for US interest rates was one of the dominant themes of 2018, especially as the year progressed. President Trump got involved in the debate, tweeting in December that it was “incredible” that the US Federal Reserve (Fed) was considering raising interest rates again. Despite the pressure from the president, the [...]
FCA fines former Newton fund manager Paul Stephany for IPO misconduct February 5, 2019 Former fund manager Paul Stephany has been fined by the UK’s financial watchdog for misconduct related to On the Beach’s initial public offering (IPO) in 2015. The Financial Conduct Authority (FCA) has fined Stephany, a former employee of Newton Investment Management, £32,200 after it was found that he had contacted rival fund managers to influence [...]
Despite 2018’s woes, could the year of the pig be a sign of good fortune for Chinese equities? February 5, 2019 Chinese stock markets were dogged with problems last year – pretty fitting given that it was the year of the dog. The country grappled with slower growth, a mountain of debt, and a trade war with the US, creating a tough environment for Chinese equities. The MSCI China index slumped by 14 per cent in [...]
China’s success among western firms will depend on the desirability of the brand February 5, 2019 Not a week goes by when there isn’t a data print-out of China posting the weakest number since… well pick a year. Last Friday, for example, the Caixin manufacturing survey posted a second consecutive month of contraction and the lowest reading since 2016. The slowdown has triggered a set of 2019 growth downgrades from the analyst [...]
Unleaded petrol pump prices in the UK: Petrol and diesel prices drop for third month in a row February 5, 2019 The price of petrol and diesel dropped for the third month in a row in January, as the cost per litre reduced by more than 1p. The UK average price of unleaded was 120.92p on average, while diesel was 130.01p, according to research from RAC Fuel Watch published today. Read more: Asda, Morrisons and Sainsbury's to cut price [...]
BP shares rise as oil giant more than doubles profit in bumper 2018 February 5, 2019 Oil major BP’s profit more than doubled in 2018, its fourth-quarter financial results showed today, sending shares up five per cent to 545.7p in early trading. The figures BP grew profit to $9.383bn (£7.19bn) in profit attributable to shareholders for the full year, up from $3.389bn in 2017. Return on average capital was 11.2 per [...]
Rio Tinto pledges to take part in ‘any industry-wide response’ after tragedy at Vale Brazilian dam February 4, 2019 London-listed miner Rio Tinto will take part in any industry response to the Brazilian dam tragedy which is thought to have killed over 300 people. Top executive Simone Niven told delegates at a Cape Town conference the company was looking into the way it ensures its dams are safe. Read more: Church of England sells shares [...]
Slack confidentially files for New York listing February 4, 2019 Workplace messaging app Slack has confidentially filed to go public in New York today, following months of speculation on the nature of its listing. No further details were given as to the timing or pricing of its initial public offering (IPO), however the app was said in January to be considering a direct listing instead. This is [...]
Ropey conditions: Broken rope costs shareholders millions after Hurricane Energy setback February 4, 2019 What could turn out to be the world’s most expensive rope broke last week as a ship leased by Hurricane Energy braved rough Atlantic conditions. Shares fell 5.7 per cent today, wiping over £55m off Hurricane’s market value as the company announced a setback off the Shetland Islands. Read more: Private equity firms set to snap [...]
