Market Pulse - Commodities
Caterpillar posts drop in Q3 sales and earnings, guides lower
Caterpillar posted lower sales and profits for its most recent quarter on the back of a drawdown in stockpiles by dealers and softer demand and marked down its full-year profit guidance.
SolGold identifies new copper and gold target in Ecuador
SolGold on Wednesday said it has discovered new mineralised outcrops at its wholly-owned Cisne Loja gold project in southern Ecuador.
Trans-Siberian Gold on track to achieve annual production guidance
Trans-Siberian Gold on Tuesday reported it was on track to meet the upper end of its full-year production guidance after its third quarter revenues leapt by almost a third.
Canaccord raises target for Petropavlovsk after revising gold price deck higher
Cannacord Genuity raised its target price for shares of Petropavlovsk to reflect higher assumptions for the company's received price of gold in 2019-22.
Director dealings: Enquest chief picks up shares
Enquest chief, Amjad Bseisu, bought 2,154,756 shares in the oil explorer on Friday at an individual price of 18. 5p for a total transaction amount of £398,629. 86.
China's economic growth could fall under 6% in 2020
The International Monetary fund revealed in its latest World Economic Outlook that economic growth in China could slow to 5. 8% in 2020 following an expansion of 6. 1% in 2019.
US December trade tariff hike could be shelved, White House's Kudlow says
A planned hike in US trade tariffs on Chinese exports that was set to kick-in mid-December may be shelved, a top White House official said.
Reckitt names Ahold Delhaize's Carr as its new finance chief
Reckitt Benckiser pinched Ahold Delhaize chief financial officer, Jeff Carr, appointing him to take over the same role at the consumer goods giant in place of its current finance director Adrian Hennah, who was set to retire.
Canaccord stays at 'buy' on Petropavlovsk following Q3 sales and production data
Analysts at Cannacord Genuity reiterated their 'buy' recommendation and 16. 0p target price on shares of gold miner Petropavlovsk thid quarter sales and production data.
Saudi Aramco delays IPO until after Q3 results
Saudi Aramco has delayed its planned initial public offering for until after its third quarter results in the hope that they will boost investor confidence, sources told Reuters on Thursday.
ShoreCap stays at 'buy' on Savannah Petroleum, sees 'much higher' share price
Analysts at ShoreCap reiterated their 'buy' recommendation for shares of Savannah Petroleum, telling clients that the unsecured loan facility into which it had entered on the same day was "entirely consistent with our expectations" and that they continued to anticipate a "much higher share price" on the acquisition of assets from Seven Energy was completed.
Chinese economy grows 6.0% in Q3, slowest pace since early 1990s
China released third-quarter GDP figures on Friday showing the economy grew at its slowest pace since the early 1990s as the trade war with the US took its toll.
Philip Morris lowers guidance as Russian tax authority issues $374m fine
US tobacco giant Philip Morris cut its full-year profit guidance on Thursday following an investigation by a Russian tax authority that concluded its local affiliate had underpaid taxes.
Commodities: US-China tensions weigh on sentiment, but energy futures wanted
Commodity prices came under pressure on Wednesday as China vowed to counter proposed legislation in the States that could penalise Beijing's crackdown on protests in Hong Kong.
Good Energy launches electric vehicle charging technology
Good Energy Group on Wednesday launched One Point, an electric vehicle (EV) charging offering to help business install technology and secure available network capacity.
Berenberg lowers price target on Kenmare Resources following Q3 update
Over at Berenberg, analysts cut their price target on Irish mining company Kenmare Resources from 400p to 380p on Wednesday following the group's third-quarter results a day earlier.
IMF slashes 2019-20 global GDP growth forecasts
The trajectory for global economic growth has shifted lower, according to the world's watchdog for financial stability.
China wants to lower tariffs in order to hit target for US farm imports
China could need to roll-back some of its tariffs on US goods in order to meet its commitments to Washington to ramp up purchases of American agricultural goods over the following two years.
Commodities: Trader caution on US-China trade and weak Chinese import data drag
Commodities gave back some of the prior Friday's gains with traders cautious as analysts pointed out that things could still change for the worse over the next three to five weeks as US and China tried to put their mini-trade deal into writing.
US lawmakers mull legislation in support of Hong Kong demonstrators
US lawmakers are this week set to vote on three bills that would support pro-democracy demonstrators in Hong Kong, as protests in the city intensify.