Global oil falls towards $44 as negative sentiment weighs heavy July 26, 2016 Crude fell today as a wave of negative sentiment swept across global oil markets. Brent crude, the global benchmark, fell 0.36 per cent to $44.56 per barrel in late morning trading. Its US counterpart, West Texas Intermediate crude, also fell 0.77 per cent to $42.80. The market has been weighing the 'green shoots' of a recovery [...]
Here’s what a Trump victory could do to the price of gold July 26, 2016 Controversial US presidential candidate Donald Trump's ascendance to the White House would be good for gold, as his policies are likely be bad news for the US economy. To-date, Trump has launched verbal assaults on big corporations, as well as large mergers and acquisitions, and most recently threatened to pull the US out of the [...]
At the close: FTSE 250 edges towards pre-referendum level July 25, 2016 The FTSE 250 has taken another step towards wiping out its post-referendum losses as speculation about the latest deal in the gambling industry pushed the mid-caps higher. William Hill investors jumped at the prospect of a being bought out by 888 and Rank Group, with shares popping 11 per cent at the open this morning. They [...]
London-listed miners lose out as gold demand dampens July 25, 2016 Gold miners were some of the biggest losers in London today, as demand for the precious metal waned amid assurances global policymakers would do all they could to help the economy. Fresnillo closed down 1.64 per cent to 1,801p per, while its peer Rangold Resources slipped 3.39 per cent to 8,550p and Centamin slumped 4.72 per cent to 151.3p. [...]
Global oil falls below $45 as oversupply concerns weigh July 25, 2016 Oil dropped to a two-month low today, amid concerns that the persistent global glut of crude and refined products isn't shrinking quickly enough. Brent crude, the global benchmark, was last down 1.46 per cent to $44.94 per barrel. Meanwhile, its US counterpart, West Texas Intermediate crude, slumped 1.95 per cent to 43.33 per barrel. Hedge [...]
Aberdeen Asset Management poised to take advantage of weakness in wake of Brexit vote July 25, 2016 Aberdeen Asset Management is better placed than its competitors in the wake of a spate of investment fund redemptions according to chief executive Martin Gilbert. Speaking to City PM this morning, Gilbert said: “We are very much an emerging markets house, so theoretically we should come out of it better. Much more so than some [...]
This chart shows why UK North Sea strikes won’t affect oil prices July 25, 2016 While North Sea oil workers will grab Britain's attention when they go on strike tomorrow, global crude markets are unlikely to notice. The 24-hour stoppage will see 400 Wood Group employees walk out of eight platforms which are owned by Royal Dutch Shell. And it's expected to be followed by additional strikes over the following weeks. Read more: Date set [...]
Week ahead: Oil majors and GDP numbers set to steer markets July 25, 2016 Markets in the UK and Europe seem to be running out of momentum recently but a influx of earning reports this week may go some way to liven things up. The blue-chip FTSE 100 was up 0.5 per cent at 6,730.48 points at its close on Friday, its fifth straight week of gains. The latest [...]
Italian PR firm SEC in Aim listing to fund UK and European growth July 24, 2016 Italian public relations and communications agency SEC will list on London’s junior Aim market tomorrow. SEC has raised £3.4m before expenses to fund the growth of the business around Europe with discussions being held for acquisitions in the UK, France and Poland. The flotation will be the first European business to list on Aim since the [...]
Oil majors to stage sharp rebound due to crude’s modest revival July 24, 2016 Oil majors' second quarter earnings will show a sharp rebound when they're released next week, largely due to a modest recovery in the world's stricken oil markets. BP will kick off proceedings when it reports on 26 July, followed by Total and Shell on 28 July and Exxon and Chevron a day later. "Oil majors' second quarter 2016 earnings [...]
