Market Pulse - Commodities
Chinese factory sector growth steady in December, official PMI shows
China's manufacturing sector continued to expand at a steady pace at the end of 2019 with a gauge linked to new export orders revealing the first signs of growth since mid-2018.
US foreign trade deficit in goods drops sharply in November
America's shortfall in trade on goods with the rest of the world shrank significantly last month.
Beijing will honour trade commitments, Chinese ambassador to US says
A top Chinese diplomat said Beijing would honour its commitments under the phase one trade deal that was soon to be signed between Beijing and Washington, even as he criticised talk of a new Cold War as "very irresponsible".
Carney warns firms must cut back on fossil fuel investments
Bank of England governor Mark Carney said all companies and financial institutions must justify their investment in fossil fuels and advised firms to cut down on them as assets in the sector could end up “worthless”.
Russia to broach gradual exit from output curbs in 2020, Novak says
Russia will discuss the need for an exit from current oil output curbs during the coming year, the country's energy minister said in an interview.
Chaarat Gold reaches stabilisation agreement with Kyrgyz government
Gold miner Chaarat has concluded a stabilisation agreement with the Government of the Kyrgyz Republic regarding its Tulkubash and Kyzyltash projects.
Red Rock Resources swings to a loss
Exploration outfit Red Rock Resources told investors on Tuesday that a write-off of its stakes in Steelmin and Amulet had dragged it into the red for the year ended 30 June.
China expands list of products with reduced tariffs
Economic authorities in China unveiled tariff cuts at the start of the week in a bid to bolster domestic demand and further open up its economy.
Emails show Trump blocked aid to Ukraine after phone call with Zelenskiy
Newly-released government emails show Pentagon officials froze military aid for Ukraine 90 minutes after a controversial phone call last July between the US President, Donald Trump, and his Ukrainian counterpart, Volodymyr Zelenskiy.
MPs urge government to improve defence funding over floods
MPs from areas affected by the floods have called on the UK government to increase the funding available for flood defences and emergency response units, the Guardian reported on Monday.
Berenberg slashes target price for Petrofac on weak order intake
Analysts at Berenberg slashed their target price for oilfield services firm Petrofac's shares due to a weak order pipeline going into 2020 that was seen weighing on the company's revenues and margins.
UK pork sales set to jump as swine flu kills 25% of Chinese stock
UK firms selling pork products, including the likes of Cranswick, could be set to see another jump in sales in 2020, as African Swine Fever continues to take its toll on pig stocks around the world.
Double upgrade from BofA-ML sees British American Tobacco jump
Bank of America-Merrill Lynch upgraded its recommendation for shares of British American Tobacco from 'underperform' to 'buy', hailing management's moves away from the status quo of a traditional tobacco company and to speed-up its decision making processes.
Endeavour, Centamin agree to explore possible merger
Centamin has agreed to explore a potential merger with rival Endeavour Mining Corporation, just days after it dismissed an initial £1. 5bn bid from the Africa-focused gold miner.
RBC Capital welcomes changes to Centamin board
Analysts at RBC Capital Markets took a fresh look at Centamin on Friday, stating it would not normally comment on board changes but think that given the firm's current situation and the recent approach by Endeavour Mining that it warranted attention.
Trade talks have achieved 'major advance', China says
China confirmed that it has reached an agreement with Washington on a phase-one trade deal, including the roll-back of some US tariffs and the cancellation of the new duties that both sides had been preparing to impose on 15 December. The Wall Street Journal story on the China Deal is completely wrong, especially their statement on Tariffs. Fake News. They should find a better leaker! — Donald J. Trump (@realDonaldTrump) December 13, 2019.
US President denies WSJ report on US-China trade agreement
Reports that the US was set to cancel the new trade tariffs that were set to go ahead on the following and partially roll-back pre-existing ones might be wide of the mark.
Resolute Mining initiates strategic review of Bibiani
Gold miner Resolute Mining initiated a strategic review process of its Bibiani Gold Mine in Ghana on Friday.
US, China reportedly clinch phase-one trade deal
Negotiators from the US and China have inked the terms of a phase-one trade accord between the two countries, according to reports.
Commodities: Oil futures slip as weekly US inventory data reveals unexpected build
Energy prices weakened on Wednesday following the release of a US government report on crude oil inventories showing an unexpected build in stockpiles over the latest reference week.