Oil prices fall after Opec points to bigger crude surplus in 2017 October 12, 2016 Oil prices turned lower this afternoon after the Organisation of Petroleum Exporting Countries (Opec) pointed to a larger surplus next year. Brent crude, the global benchmark, slumped 1.09 per cent to $51.84 per barrel. Its US counterpart, West Texas Intermediate crude, fell 1.32 per cent to $50.12, having recovered slightly after falling just below the $50 [...]
Sterling falls back after posting early morning gains October 12, 2016 The pound fell back in afternoon trading today, slipping below $1.22 after an early morning rally saw it reverse yesterday's hefty losses. Sterling hit a low of $1.2086 late last night after American traders took a decidedly pessimistic view on the currency, wiping two cents off sterling in a matter of four hours. After investors' fears [...]
Is 2016 the turning point for energy storage? October 12, 2016 In the future, when investors look back at the year that represented the turning point for clean energy, 2016 may be it. The industry overall is growing at a breath-taking pace, but perhaps not for the reason that some investors think. Energy storage, rather than solar power and wind power, are the real factors that [...]
Sterling hit its lowest level on record last night October 12, 2016 The pound fell to its lowest ever level during yesterday afternoon's brutal sell-off as the currency remains under intense pressure. Sterling, which has been suffering at the hands of nervy traders keeping both eyes on every utterance from Prime Minister Theresa May, hit its weakest mark on the Bank of England's "effective exchange rate index" [...]
FTSE 100 dips again as sterling recovers some strength October 12, 2016 What a difference a day makes. Having hit a record high yesterday, the FTSE 100 started this morning in negative territory. The index fell 0.5 per cent to 7,032 points in early trading, having reached the heady heights of 7,127 yesterday – above the record high of 7,122 points it set in April 2015 (although it later closed slightly lower). It [...]
Fresnillo reports increased silver and gold production October 12, 2016 Miner Fresnillo has reported an uptick in production of silver, gold, lead and zinc in the third quarter of the year. Silver production was up 6.7 per cent, gold was up 20.9 per cent, lead was up 19 per cent and zinc was up 32.1 per cent compared with the same quarter last year. Production of [...]
US-run firm targets FX takeovers as it floats on London Stock Exchange October 12, 2016 A US-run company targeting takeovers in the foreign exchange sector is to float on the London Stock Exchange (LSE) today. Boston International Holdings is to list all of its shares, valued at £1.4m, on the LSE’s main market for listed securities from 8am. The company will now be seeking to buy firms within the FX sector. [...]
Sterling hammered as pound drops toward $1.21 October 11, 2016 Sterling continued its dramatic decline last night, crashing through key levels against both the dollar and the euro during a punishing session. The pound lost two cents against the dollar in a matter of four hours yesterday evening, falling to a low of $1.209 after US markets opened. Sterling also plunged through the €1.10 mark [...]
Tony Hayward reportedly eyeing oil fields in Latin America for a big investor October 11, 2016 The former BP boss, Tony Hayward, is reportedly working with private equity investor Carlyle to find oil fields to purchase in Latin America. Sky News reported that, if successful, he's likely to be paid a fee by Carlyle for introducing the deal to the firm. While it is unclear whether Hayward would have an ongoing role in the new venture, [...]
Biffa, GoCompare and others will not follow Pure Gym in binning IPO plans October 11, 2016 A series of high-profile London stock market flotations are set to go ahead in the coming weeks, despite Pure Gym abandoning its plans for an initial public offering (IPO) this month. City PM understands waste disposal company Biffa remains confident of listing on the London Stock Exchange this month. Read more: Pure Gym avoids overstretch [...]
