Market Pulse - Commodities
Analysts at Jefferies kept their 'hold' recommendation and 245p target price on shares of exploration and production outfit Tullow Oil ahead of the company's AGM trading update on Thursday, even as they called attention to Exxon Mobil's decision during the previous week to send two rigs to appraise the Hammerhead discovery, offshoe Guyana, labelling it "significant".
Occidental Petroleum has offered to buy Anadarko for $76 a share, trumping a $65 a share offer from Chevron earlier this month.
Petropavlovsk's shares dipped on Wednesday after the gold miner reported a drop in annual revenues on the back of a decrease in gold sales and production, though results were still ahead of expectations.
Deutsche Bank and UBS have been discussing for months a possible tie-up between their two asset management arms that would result in the creation of Europe's largest investment firm.
America's top trade negotiators will travel to Beijing next Tuesday with a view to having a draft deal in place by May.
Associated British Foods posted a big drop in first half earnings as the company's bottom line was hammered by one-off costs, but said full-year profits were still expected to be in line with the prior year's result.
Energy futures continued pushing higher on Tuesday on follow-through buying after the Trump administration decided the day before to cut Tehran's crude oil exports to zero by not extending waivers from its sanctions against countries purchasing oil from Iran.
Rustranscom on Tuesday confirmed that it has postponed a planned initial public offering on the London Stock Exchange in favour of a private equity transaction.
Oil&Gas related issues topped the leaderboard in London at the start of the holiday-shortened week, as traders got a chance to react to Washington's decision to act on a previous threat of taking Iranian crude oil exports to zero.
German investor Aquila is considering the London Stock Exchange as a potential venue for a market listing of its renewable energy fund within the next two months.
Upstream oil and gas outfit Upland Resources has received several unsolicited approaches from companies looking to pick up a stake in its Tunisian operations.
Analysts at Barclays Research said Washington's decision to "tighten" the screws on Iran would do the same to the oil market, posing a "material" risk to their 2019 oil price forecasts, while increasing the odds of a potential conflict in the Middle East, but not for the longer term.
Oil prices rose on Monday after the US announced that countries trading with Tehran must end all imports of crude from Iran or face sanctions.
Jadestone Energy on Thursday reported an annual loss, though its revenues more than doubled following an increase in production and on the back of higher oil prices.
Oil and gas outfit 88 Energy continued its conventional farm-out campaign for its Icewine project during the first quarter of the year, with the deadline for bids extended to 31 January due to demand from multiple parties.
Chinese officials appear to be preparing a stimulus package as they aim to improve sales of items such as cars and electronics after the nation's economy showed signs of reinvigoration on Wednesday.
Analysts at RBC Capital Markets reiterated their 'sector perform' rating on BHP following "another disappointing operational quarter", noting the performance was somewhat already priced in.
Serica Energy's shares leapt on Wednesday after acquisitions and the resumption of key operations led to a jump in annual revenue and profits, with output from the former running ahead of expectations.
Treasury Secretary Steven Mnuchin said on Monday that the US agreed with China that the enforcement mechanism of fair trade will be reciprocal, in a move that some observers believed might harm US companies and the World Trade Organization itself.
Coro Energy's shares stormed on Tuesday after the company completed its obligations to acquire a 15% working interest in the Duyung production sharing contract (PSC) in Indonesia.