Market Pulse - Commodities
Russia's central bank took back its late 2018 pre-emptive interest rate hike as it revised its near-term forecasts for inflation and economic growth lower, leaving the door open to a another rate cut at one its next board meetings and a possible shift to a "neutral" policy before mid-2020.
US chip maker Broadcom turned cautious on the outlook for the back half of 2019 on Thursday, citing the "continued geopolitical uncertainties" and the impact of export restrictions on one of its largest customers, presumably Chinese telecoms equipment manufacturer Huawei.
Crude oil futures jumped on the back of reports that two oil tankers off the coast of Fujairah, in the Sea of Oman, were on fire.
US President Donald Trump declined to set a deadline on Wednesday for the latest tariffs he is planning to impose on Chinese goods.
Miner Polymetal International saw ore reserves at its Veduga gold deposit more than double to 2. 8m ounces following an extensive exploration campaign at the site.
Companies in the oil patch were unwanted on Wednesday, after US government data showed an unexpected rise in the country's oil inventories and trade uncertainty weighed on the entire complex.
Energy futures slid on Wednesday amid the ongoing trade stand-off between the US and China and against the backdrop of a strengthening US dollar.
Commercial crude oil stockpiles in the US rose unexpectedly during the prior week, government data revealed despite a decline in net imports and domestic output.
Analysts at Jefferies nudged their target price for Royal Dutch Shell's A shares higher, from 3,000p to 3,050p, telling clients that the company would have to demonstrate its ability to preserve returns even as it invests in its low-carbon businesses, even as they labeled the potential for shareholder returns "compelling".
The UK has committed to reach net zero carbon emissions by 2050 and will become the first G7 country to legislate the proposal.
President Donald Trump said that China must adhere to the terms of the trade deal that it had agreed to earlier in 2019 or risk a no-deal and higher tariffs.
Consumer level inflation in China picked up last month as pork prices increased at their fastest pace for 35-months, but underlying price pressures in fact slowed, pointing to still lacklustre demand, according to analysts.
The European Commission blocked a proposed merger between India’s Tata Steel and Germany’s ThyssenKrupp.
Investor sentiment towards nearly all regions soured last month, after US-China trade tensions escalated, and could drag Germany into recession, according to the results of a widely-followed survey.
US President Donald Trump threatened China with a further hike in tariffs if President Xi Jinping refused to meet with him at the upcoming G20 summit in Japan.
Toyota is aiming to get half of its global sales from electric vehicles by 2025 and is looking to launch two two-seater ultra-compact electric vehicles by next year.
China's central bank has "tremendous" room to provide further policy stimulus if trade tensions with Washington escalate, its Governor said at the end of the week.
Oil and gas producer Mayan Energy's Texan assets recorded a gross mean average production of 131 barrels of oil equivalent per day during the month of May from its Texas assets amidst "an exceptional period of weather".
Defensive issues led the way higher on Thursday despite it being an up day for FTSE 350 stocks, possibly denoting underlying caution on the part of investors.
America's shortfall on trade with the rest of the world shrank slightly in April amid a decline in both exports and imports.