Shell’s balance sheet, renewables strategy to be drawn into focus on Tuesday June 5, 2016 Royal Dutch Shell's balance sheet and renewables policy could be drawn into focus when the oil major holds an investment day on Tuesday. The FTSE 100-listed oil major — which bought BG in a £35bn deal — recently revealed profits slumped 83 per cent in the first three months of 2016. This added to pressure on chief executive, Ben van [...]
Treasury’s bank bailout tsar Kingman in talks with L&G June 5, 2016 The senior civil servant who was central to Britain's bank bailouts in 2008 is in line to chair FTSE 100-listed insurer and asset manager Legal & General. John Kingman, who is stepping down as second permanent secretary of the Treasury, has been approached about taking over the position when current chair, John Stewart, leaves the role on 1 June. It's [...]
RAC says petrol prices below £1 a litre “distant memory” June 4, 2016 The RAC declared the days of sub £1 a litre petrol a "distant memory" as it said prices rose for the third consecutive month in May. The average unleaded pump price rose 2p to 110.59p a litre, while the average diesel forecourt price jumped 2.2p to 110.7p. Average supermarket prices for petrol and diesel increased by two per cent [...]
Oil loses fight to stay above $50 as investors weigh Opec meeting June 3, 2016 Oil lost its fight to stay above $50 today, as investors reacted to a closely-watched meeting of the Organisation of Petroleum Exporting Countries (Opec). Brent crude, the global benchmark, fell 0.3 per cent to $49.90 per barrel today, having broke through the $50 threshold earlier. West Texas Intermediate, the US benchmark, also slumped 0.3 per cent to $49. Read [...]
At the close: Opec uncertainty holds the FTSE 100 down June 2, 2016 What was a volatile day on the markets ended rather flat. Big European Central Bank (ECB) and Opec meetings in Vienna failed to move the FTSE 100 far in either direction and it ended down 0.1 per cent at 6,185.61 points. The ECB decided, as expected, to keep interest rates on hold. Though it did raise growth and [...]
Brent tumbles after Opec fails to agree an oil production ceiling June 2, 2016 Oil tumbled after the Organisation of Petroleum Exporting Countries (Opec) failed to agree a production ceiling at a widely watched meeting in Vienna today. Brent crude, the international benchmark, plunged 1.3 per cent to $49.1 per barrel. It had climbed above the $50 mark this morning, hitting its highest level in a week. West Texas [...]
Rio Tinto says it Lithium project has proven to be “an attractive investment” June 2, 2016 Rio Tinto has signalled it's increasingly interested in lithium, with future demand expected to soar due to the take up of electric vehicles. Dean Gehring, president and chief executive officer, was quoted in its in-house publication saying: "The Jadar project is strategically important for Rio Tinto Minerals and will complement our existing operations." Read more: BlackRock [...]
Ding dong: Europe’s IPO market is set for three big floats this month June 2, 2016 Europe is set for three large floats this month as the continent begins to recover from a slow start to the year. Three initial public offerings (IPOs) worth $1bn (£0.7bn) or more are due to price in the coming weeks. They will be the first this year in the continent, according to Dealogic. Danish company [...]
How the FTSE 100 has changed in 10 years: Banks and oil fall from grace, while tobacco and beverages make gains June 2, 2016 The banking sector’s influence in the FTSE 100 has nearly halved in the last 10 years, a new study suggests. Oil’s stake in the blue-chip index has also declined heavily since 2006, with tobacco and beverages experiencing the biggest growth. The AJ Bell research looked at the composition of the FTSE 100 by market capitalistions, dividing [...]
Iran says it won’t support a production cap as tensions mount ahead of Opec meeting June 2, 2016 Tensions are mounting ahead of today's meeting of the Organisation of Petroleum Exporting Countries (Opec), as Iran and Saudi Arabia look set to battle it out over a proposed new cap on oil production. According to Opec sources, Saudi Arabia will propose a new output ceiling at today's meeting in Vienna, in an attempt to [...]
