Market Pulse - Commodities
Glencore delays decision over dividend in light of Covid-19 uncertainty
Glencore is to delay a decision over a potential $2. 6bn dividend payout because of the current “exceptional” economic uncertainty.
Germany approves historic 750bn euro relief package, waves debt limit
Lawmakers in the euro area's largest economy waved the constitutional brake on debt limits as the country faces off against its hardest challenge since the Second World War.
FTSE 250 movers: Oil and Gas, and construction stocks move higher
Commodity and travel related stocks fared best as news of an imminent ramp-up in fiscal stimulus on both sides of the Atlantic enticed some investors to wade back into stocks.
Director dealings: Daax Corp. picks up more shares in Genel Energy
Daax Corporation stepped in to buy more shares in Kurdistan-focused oil exploration group Genel Energy.
Tobacco dividends safe, Citi says
Analysts at Citi said 2020 dividend payouts from the world's largest tobacco companies were safe.
G7 pledges action to protect global economy during pandemic
The G7 has pledged to do “whatever is necessary” to help support the global economy, which has been sent reeling by the coronavirus pandemic.
Europe open: Stocks bounce on stimulus hopes, oil and gas shares jump
Stocks are putting in a decent bounce across the Continent, buoyed by reports of further fiscal stimulus in the pipeline.
Pennon to sell Viridor for £4.2bn to Planets UK Bidco Limited
Pennon is planning the sale of its recycling and waste business Viridor to Planets UK Bidco Limited for £4. 2bn.
Oil prices in fresh falls as lockdown fears weigh heavily
Oil prices have taken a fresh pounding, as the growing global lockdown and souring of relations between Saudi Arabia and Russia weigh heavily.
Global banks fail to cut funding for fossil fuel projects
Analysis from 35 top investment banks revealed that over $2. 66tn had been invested in fossil fuel projects since the Paris Climate Agreement in 2016.
Number of UK renewable energy projects hits record high
The number of new renewable energy projects in the UK that have asked for planning permission reached a four-year high with 269 applications last year.
China GDP on course for first contraction in Q1 since 1989
Economic activity in China registered its first outright contraction in over three decades at the start of 2020.
JP Morgan downgrades Shell to 'neutral' on vulnerability to demand risks
Analysts at JP Morgan downgraded their recommendation for shares of Royal Dutch Shell 's B shares from 'overweight' to 'neutral' on the back of the recent "breakdown" in relations among OPEC+ members that had resulted in a crude oil price crash.
WHO chief declares coronavirus outbreaks a global pandemic
The global health watchdog declared the latest coronavirus a pandemic the first such ocurrence by that type of virus.
Businesses in Wuhan begin return to normality as coronavirus outbreak subsides
Some vital industries at the epicentre of the coronavirus outbreak, in Wuhan, in the Chinese province of Hubei, were told on Wednesday that they could restart operations after the coronavirus outbreak subsided.
Cairn Energy swings to FY profit on improved revenues
Exploration and development firm Cairn Energy swung to a profit in 2019, partly thanks to improved revenues.
Ex-BoE's King warns against rate cuts to fend off coronavirus
A former Governor of the Bank of England cautioned economic authorities against simply resorting to blunt tools such as interest rate cuts and more government spending to protect the economy from the hit to activity levels from the coronavirus.
Brent oil futures plummet 25% after Saudi Arabia cuts selling prices
Crude oil futures are hurtling lower following Saudi Arabia's decision to slash its official selling prices to Asia, Europe and the US by a record amount, marking the start of a price war after the Organisation of Petroleum Exporting Countries's failure to strike an agreement with the Russian Federation during the previous week to curb their combined production.
Bank of England stands ready to act to protect financial stability, No.10 says
Policymakers at the Bank of England in the UK have told the Prime Minister that they stand ready to act.
Italy PM pledges 'massive shock therapy' to protect economy
The Italian prime minister has pledged decisive action to help protect the economy from the country’s devastating coronavirus outbreak.