Oil prices plunge after US shale gas drillers add more rigs September 12, 2016 Crude tumbled today as investors' nerves were hit by the US shale gas industry's resilience to low prices. Brent crude, the global benchmark, fell 1.9 per cent to $47.10 per barrel this morning. Its US counterpart, West Texas Intermediate crude, tumbled 2.05 per cent to $44.94 per barrel. Read more: Opec keeps global oil demand forecast unchanged It [...]
Mining company aims to prove Cornish tin can float (on the London Stock Exchange) September 11, 2016 A Canadian mining company with an interest in Cornish tin is aiming to float on the London Stock Exchange’s junior market. Strongbow Exploration is intending to list in the Alternative Investment Market (Aim) in the first half of next year, while keeping its place on the Toronto Stock Exchange. Read more: This veteran entrepreneur is [...]
See us after class: Disappointing back to school week for FTSE 100 as retailers drag it lower September 9, 2016 The FTSE 100 had a decidedly wobbly start to the school year, finishing the first full week of September 1.7 per cent lower than it started. Having come tantalisingly close to the 7,000 mark last week, it finished today at 6,776.95 points, 1.2 per cent down. "You’d be forgiven for falling asleep this afternoon," complained SpreadEx financial analyst [...]
South Africa mineral explorer seeks investor gold on the London Stock Exchange September 8, 2016 A South Africa-focused gold explorer is planning to float on the London Stock Exchange. White Rivers Exploration, the largest land holder in South Africa’s Witwatersrand gold province, is planning a dual listing in the UK and in Johannesburg next year. Read more: Top execs are expecting global IPO activity to re-ignite in the next year The company was [...]
Oil price climbs after US Energy Information Administration data reveals US crude oil inventories down by 14.5 million barrels September 8, 2016 Oil prices picked up this afternoon after data from the US showed crude stocks had tumbled by over 14m barrels last week. Global benchmark Brent crude was up 1.1 per cent to $48.51 and US benchmark rose 1.27 per cent to $46.08. The US Energy Information Administration released (EIA) data today showing that US commercial crude oil inventories [...]
Glencore’s share price is flat after reports that it is putting another one of its Chilean assets up for sale September 8, 2016 Glencore has put another one of its assets up for sale as part of a strategy to lighten its heavy debt burden. The reported asset in question is Chilean-based Energia Austral hydropower, which it owns through a joint venture partnership with Australian firm Origin Energy. Energia Austral comprises three hydropower projects currently under development that will have a capacity of 1,000 megawatts (MW). [...]
Top execs are expecting global IPO activity to re-ignite in the next year after slow start to 2016 September 8, 2016 Senior business figures expect the global IPO window to re-open in the next 12 months following a slow start to 2016. Figures from Mergermarket show that global initial public offering (IPO) volume fell 38 per cent year-on-year in the first half of 2016, from 544 deals in the first six months to 2015 to 339. Read [...]
Royal Dutch Shell could make $1bn from North Sea exit, UBS says September 7, 2016 Royal Dutch Shell could make $1bn in the next two years by selling some of its North Sea assets, helping it pay for the BG takeover. This could be achieved by streamlining Shell's Norwegian assets, according to a note released today by investment bank UBS. Read more: Oil giant to exit up to 10 countries, as BG merger [...]
Oil buoyed by the weaker dollar but freeze deal pessimism remains September 7, 2016 Oil prices rose this morning, partly due to the weaker greenback, despite mounting pessimism over the ability of global producers to a reach a freeze deal. Crude received a shot in the arm after the US dollar index fell one per cent today, in the wake of softer US economic data. This is a boon [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
