Market Pulse - Commodities
Petrofac runs down debt ahead of schedule, but cites near-term uncertainty
Petrofac managed to erase its net debt last year, witht falling revenues and profitability offset by asset sales.
Hunting full-year profit misses estimates, guidance belies caution
Hunting posted weaker-than-expected full-year profits on the back of the sharp drop in crude oil prices seen at the end of 2018 and the company's guidance appeared to belie caution on the part of its management team.
China factory PMI slows further in February, most details weak
A widely-followed survey of factory sector conditions in the world's third-largest economy softened further last month.
US wants "significant structural change" in trade relationship with China, Lighthizer says
The US administration seeks "significant structural changes" in its trade relationship with China, America's trade czar told Congress.
Commodities: Oil futures bounce back despite record US oil output
Commodity prices were moving higher on Wednesday, helped by a 'bullish' set of weekly US oil inventory figures, even as America's trade czar, Robert Lighthizer, testified before Congress on the current state of US-China trade talks.
RBC downgrades Shell to 'sector perform'
Analysts at RBC Capital Markets downgraded oil giant Shell to 'sector perform' on Wednesday, citing three key reasons for the move.
US trade deficit on goods jumps in December
America's shortfall in trade on goods with the rest of the world jumped at the end of 2018.
Commodities: Brent futures slide as Trump tells OPEC to take it easy
Energy futures slid sharply lower at the start of the week after the US President took to social media to tell the Organisation of Petroleum Exporting Countries to "please relax and take it easy", adding that the "World cannot take a price hike - fragile!".
Barrick Gold makes $18bn unsolicited bid for rival Newmont
Canada’s Barrick Gold made a hostile $18bn bid on Monday to buy US rival Newmont Mining and merge two of the largest gold firms in the world.
Cyclicals to stay in the lead, but mind the Greenback, JP Morgan says
Strategists at JP Morgan made the case for being positioned in Cyclicals, contrary to what 'bears' were recommending given the late stage of the economic cycle, arguing that the Federal Reserve, the US central bank, was set to 'fall behind the curve'.
Tungsten swings to a profit as margins and revenues improve
Business transaction network Tungsten swung to an EBITDA profit in the third quarter of its trading year following a bump in revenues and an improved gross margin.
Erris Resources extends Abbeytown zinc project
Mineral exploration company Erris Resources has seen drilling at its Abbeytown zinc project in Ireland successfully connect underground and surface mineralisations, expanding the overall size and potential of the system.
JPMorgan ups target price on 'undervalued' Anglo American, names miner 'top pick'
Analysts at JPMorgan Cazenove upped their target price on multinational mining outfit Anglo American on Friday as it highlighted the group's ability to deliver a stellar combination of capital returns and growth.
Commodities: China shows appetite for corn and wheat, US oil output hits record 12.0m b/d
Commodity prices were little changed as traders waited on fresh news out of trade talks in Washington for direction, despite the release of some weak economic data in the States and alongside figures showing record domestic US oil output.
Weekly US oil inventories jump amid record domestic output, DoE says
Weekly US crude oil stockpiles jumped over the latest reference period, as domestic output hit a fresh record and refinery inputs decreased.
Argos Resources storms upward after Falkland licence secured
Argos Resources stormed upward on Thursday after it confirmed it has taken full ownership of the PL001 Licence in the North Falkland Basin.
Food prices could soar 40% in 'no-deal' Brexit, UK, Irish retailers warn
UK and Irish retailers on Thursday warned that food products such as beef or cheddar cheese could be subject to 40% tariffs or more if the UK were to apply World Trade Organization rates on trade after a no-deal Brexit.
Canaccord Genuity cuts target on Petra Diamonds
Analysts at Canaccord Genuity cut their target price for Petra Diamonds following the miner's first half figures, mainly in the wake of lower prices for rough diamonds due to general market conditions and the performance of its Cullinan mine.
Kaz Minerals' profits boosted by rising copper production
Kaz Minerals on Thursday reported a rise in annual profits thanks to increased revenues driven by higher copper production from the FTSE 250 listed company's portfolio of low-cost open-pit mines.
Maduro challenges Guaido to new elections and calls him 'Mr. Clown'
Venezuelan President Nicolas Maduro challenged opposition leader Juan Guaido to general elections on Tuesday.